Non-Employee Director Compensation Policy

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation for non-employee directors of the company. It specifies annual cash retainers for various board leadership roles, including Lead Director and committee chairpersons, and details an annual equity package valued at $170,000, split equally between stock options and restricted stock units. Stock options become exercisable one year after being granted and expire after ten years, while restricted stock units vest after one year.

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EX-10.6 4 exhibit106non-employee.htm EXHIBIT 10.6 Exhibit


Exhibit 10.6

Non-Employee Director Compensation

We currently pay our non-employee directors the following:

•annual retainer of $93,500 for the Lead Director
•annual retainer of $97,000 for the Chairperson of the Audit Committee
•annual retainer of $87,500 for the Chairperson of the Compensation Committee
•annual retainer of $85,000 for the Chairperson of the Nominating and Governance Committee

The equity component of the director's compensation is valued at $170,000. The annual equity package consists of 50% in stock options and 50% in restricted stock units. The options become exercisable one year after the grant date and expire ten years after the grant date. The restricted stock units vest one year from the grant date.