Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

EX-10.3 4 p73990exv10w3.htm EX-10.3 exv10w3

Exhibit 10.3

Non-Employee Director Compensation

Effective as of June 11, 2007

The following is a description of the compensation paid to non-employee directors of Mobility Electronics, Inc.


Event		Compensation		Payable		Vesting
Board Election / Re-Election		30,000 RSUs		Every 3 years		3-year cliff vesting
Board Chairman		10,000 RSUs		Annually		1-year cliff vesting
Committee Election / Re-Election		2,000 RSUs		Annually		1-year cliff vesting
Audit Committee Chair Election		1,500 RSUs		Annually		1-year cliff vesting
Comp & H.R. Committee Chair Election		1,000 RSUs		Annually		1-year cliff vesting
Corp Gov. & Nom. Committee Chair Election		1,000 RSUs		Annually		1-year cliff vesting
Retainer — Board (excluding Board Chairman)⁽¹⁾		$2,500 per month		Quarterly		N/A
Retainer — Board Chairman⁽¹⁾		$5,000 per month		Quarterly		N/A
Retainer — Lead Independent Director⁽¹⁾		$500 per month		Quarterly		N/A
Annual Meeting Attendance⁽¹⁾		$3,500 per meeting		Quarterly		N/A
Board Meeting Attendance⁽¹⁾		$2,500 per meeting if attended in person $600 per meeting if attended by phone		Quarterly		N/A
Committee Meeting Attendance⁽¹⁾		$600 per meeting		Quarterly		N/A


(1)		Cash compensation is payable quarterly on or about January 15, April 15, July 15, and October 15 of each year.