Non-Employee Director Compensation Policy
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Summary
This document outlines the compensation structure for non-employee directors of the company. Non-employee directors receive an annual cash retainer, with additional retainers for chairing key committees. They also receive an annual equity package valued at $150,000, split equally between stock options and restricted stock units. Stock options become exercisable one year after the grant date and expire after ten years, while restricted stock units vest after one year.
EX-10.19 3 exhibit1019non-employeedir.htm EXHIBIT 10.19 NON-EMPLOYEE DIRECTOR COMPENSATION Exhibit
Exhibit 10.19
Non-Employee Director Compensation
We currently pay our non-employee directors the following:
•annual retainer of $60,000
•annual retainer of $85,000 for the Chairperson of the Audit Committee
•annual retainer of $80,000 for the Chairperson of the Compensation Committee
•annual retainer of $70,000 for the Chairperson of the Nominating and Governance Committee
The equity component of the director's compensation is valued at $150,000. 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.
