Summary of FY05 Compensation for DiamondCluster Outside Directors
This document outlines the compensation for outside directors of DiamondCluster for fiscal year 2005. Directors receive an annual cash retainer of $40,000 and equity awards valued at $30,000 in restricted stock and $30,000 in stock appreciation rights, vesting quarterly over one year. Additional equity is provided to committee chairs and Audit Committee members. Directors must maintain at least $100,000 in company equity during their term and are expected to sell equity through the Partner Equity Sales Program.
Exhibit 10.8
Summary of FY05 Compensation for DiamondCluster Outside Directors
| FY05 Comp | ||
Annual Retainer | $40,000(1) | |
Meeting attendance fees | None | |
Equity having a $ | ||
value of | $30,000 in Restricted Stock/ | |
| $30,000 in SARS | ||
Vesting | Quarterly over one year |
Notes:
(1) Increased from $25,000 to cover tax incurred on restricted shares upon filing of 83(b) election.
(2) All committee chairs receive an additional $10,000 in equity.
(3) All Audit Committee members, including the Audit Committee Chair, receive an additional $5,000 in equity.
(4) Board members must retain throughout their term ownership of equity valued at a minimum of $100,000 in accordance with
director stock ownership guidelines.
(5) Board members will be expected to sell any equity through the Partner Equity Sales Program.
