Non-Employee Director Cash Compensation Arrangements

Summary

This agreement outlines the cash compensation structure for non-employee directors of the company. It specifies annual retainers for board members and additional amounts for the Chairman and committee chairpersons. Directors are also paid fees for attending various board and committee meetings, with different rates for regular, special, and telephonic meetings. Payments are made quarterly in arrears. The arrangement ensures non-employee directors are compensated for their service and participation in board activities.

EX-10.12 3 a2204862zex-10_12.htm EX-10.12

EXHIBIT 10.12

 

CASH COMPENSATION ARRANGEMENTS WITH NON EMPLOYEE DIRECTORS

 

Annual Retainer*:

 

Board Members

 

$

25,000

 

Chairman of the Board (additional)

 

$

15,000

 

Audit Committee Chairperson (additional)

 

$

7,500

 

Compensation Committee Chairperson (additional)

 

$

5,000

 

Corporate Governance and Nominating Committee Chairperson (additional)

 

$

5,000

 

 


*  Paid quarterly in arrears.

 

Meeting Fees:

 

Board of Directors

 

 

 

Annual offsite regular meeting

 

$

2,500

 

Regular meeting

 

$

1,000

 

Special (telephonic)

 

$

500

 

 

 

 

 

Audit Committee

 

 

 

Regular meeting

 

$

2,500

 

Special (in person)

 

$

1,000

 

Special (telephonic)

 

$

750

 

 

 

 

 

Compensation Committee

 

 

 

Regular meeting

 

$

2,000

 

Special

 

$

750

 

 

 

 

 

Corporate Governance and Nominating Committee

 

 

 

Regular meeting

 

$

2,000

 

Special

 

$

750