Summary of Compensation for Non-Employee Directors Effective January 1, 2008
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document outlines the compensation plan for non-employee directors of the company, effective January 1, 2008. Directors receive an annual retainer, meeting fees, additional retainers for committee chairs, and an annual equity grant in the form of restricted stock units. The equity grant vests in full at the end of the year. The agreement specifies the amounts for each type of compensation and the vesting schedule for the equity grant.
EX-10.35 3 ex10-35.htm EXHIBIT 10.35 ex10-35.htm
Exhibit 10.35
Summary of Compensation for Non-Employee Directors
Effective January 1, 2008
| Annual Board Retainer | $ 50,000 |
| Board Meeting Fee | $ 1,500 per meeting attended |
| Committee Chair Annual Retainer | |
| Audit/Compensation | $ 15,000 |
| Committee Chair Annual Retainer | |
| Other Committees | $ 5,000 |
| Committee Meeting Fee | $ 1,500 per meeting attended |
| Annual Equity Grant (1) | $ 125,000 |
(1) Granted in the form of Restricted Stock Units effective January 24,2008. Each director received 3,750 Restricted Stock Units which will vest in full on December 31, 2008.
