Exelixis, Inc. 2009 Non-Employee Director Compensation Summary

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2009 compensation structure for non-employee directors of Exelixis, Inc. It details cash payments for board and committee service, including annual retainers, chair fees, and meeting fees. It also describes equity compensation, specifying initial and annual stock option grants for non-employee directors, with a note that directors have waived 25% of the annual grant for 2009. The agreement sets out the amounts, conditions, and timing for these payments and grants.

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EX-10.18 2 dex1018.htm COMPENSATION INFORMATION FOR NON-EMPLOYEE DIRECTORS. Compensation Information for Non-Employee Directors.

Exhibit 10.18

COMPENSATION INFORMATION FOR NON-EMPLOYEE DIRECTORS

Exelixis, Inc.

2009 Cash Compensation for Non-Employee Directors

 

Board of Directors

    Retainer Fee    $ 20,000
   Additional Chair Retainer Fee    $ 25,000
   Regular Meeting Fee    $ 2,500
   Special Meeting Fee*    $ 1,000

Audit Committee

    Retainer Fee    $ 6,000
   Additional Chair Retainer Fee    $ 10,000
   Meeting Fee**    $ 1,000

Compensation Committee

    Retainer Fee    $ 5,000
   Additional Chair Retainer Fee    $ 5,000
   Meeting Fee**    $ 1,000

Nominating & Corporate Governance Committee

    Retainer Fee    $ 5,000
   Additional Chair Retainer Fee    $ 5,000
   Meeting Fee**    $ 1,000

Research & Development Committee

    Retainer Fee    $ 10,000
   Additional Chair Retainer Fee    $ 10,000
   Meeting Fee**    $ 5,000

 

* Meeting at which minutes are generated.

 

** In-person meeting or teleconference at which minutes are generated.

Exelixis, Inc.

2009 Equity Compensation for Non-Employee Directors

 

Board of Directors

    Initial Option Grant*    Number of Options    25,000  
   Annual Option Grant    Number of Options    11,250 **

 

* For new directors only.

 

** Our 2000 Non-Employee Directors’ Stock Option Plan provides for an annual option grant to each non-employee director of 15,000 options. Each of our non-employee directors has waived his right to 25% of the annual option grant for 2009. The annual option grants will occur automatically on the date of our 2009 Annual Meeting of Stockholders.