Non-Employee Director Cash Compensation Arrangements
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.
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 |
|
