Non-Employee Director Compensation Policy

Summary

This document outlines the compensation policy for non-employee directors of the company. It specifies annual cash retainers for various board leadership roles, including the Lead Director and committee chairpersons, with amounts ranging from $85,000 to $102,000. In addition, non-employee directors receive $180,000 in restricted stock units, which vest one year after the grant date. The policy sets forth the structure and timing of both cash and equity compensation for eligible directors.

EX-10.4 3 exhibit104non-employeedire.htm EX-10.4 Document

Exhibit 10.4

Non-Employee Director Compensation

We currently pay our non-employee directors the following:

annual retainer of $98,500 for the Lead Director
annual retainer of $102,000 for the Chairperson of the Audit Committee
annual retainer of $92,500 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 $180,000 consisting of restricted stock units. The restricted stock units vest one year from the grant date.