Summary of Fiscal Year 2015 Director Compensation for Non-Employee Directors

Summary

This document outlines the compensation for the company's non-employee directors for fiscal year 2015. Each non-employee director receives a $1,000 cash payment for every Board meeting attended. Committee members receive an additional $1,000 retainer in the first quarter and $500 in each of the remaining quarters. The company also reimburses directors for any out-of-pocket expenses related to Board duties.

EX-10.58 2 elmd143382_ex10-58.htm SUMMARY OF FISCAL YEAR 2015 DIRECTOR COMPENSATION

Exhibit 10.58

 

 

Summary of Fiscal Year 2015 Director Compensation

 

Each of the Company’s non-employee directors shall receive a cash retainer of $1,000 per Board of Directors meeting attended. In addition, members of the Audit, Personnel and Compensation, and Nominating and Governance Committees will be paid a $1,000 retainer during the first fiscal quarter and a $500 retainer during the second, third, and fourth fiscal quarters.

 

The Company shall also reimburse all directors for out-of-pocket expenses related to their attendance at Board meetings and performance of other services as Board members.