International Fight League, Inc. Non-Employee Director Equity Compensation Arrangement

Summary

International Fight League, Inc. provides non-employee directors with stock option grants instead of cash compensation. Each non-employee director receives an initial grant of options to purchase 300,000 shares of common stock, followed by additional grants of 50,000 options every six months starting February 20, 2008. These options are issued under the company's 2006 Equity Incentive Plan, have a ten-year term, and vest in six equal installments beginning six months after the grant date. The exercise price is set at the fair market value on the grant date.

EX-10.13 4 y40471exv10w13.htm EX-10.13: DESCRIPTION OF COMPENSATION ARRANGEMENT FOR NON-EMPLOYEE DIRECTORS EX-10.13

Exhibit 10.13

Arrangement for Compensation of Non-Employee Directors

Non-employee directors of International Fight League, Inc. (the “Company”) receive equity grants, and currently do not receive any cash compensation. Under current non-employee director compensation arrangement, non-employee directors receive an upfront grant of options to purchase 300,000 shares of common stock. Beginning February 20, 2008, and every six months thereafter, each non-employee director will receive an additional grant of options to purchase 50,000 shares. All option grants (a) will be awarded under the Company’s 2006 Equity Incentive Plan (the “Plan”), (b) will have an exercise price equal to the fair market value (as defined in the Plan) of he Company’s common stock on the grant date, (c) will have a ten year expiration date, and (d) will vest in six equal semi-annual installments, commencing six months after the grant.