Non-Employee Director Compensation Policy for Mobility Electronics, Inc. (Effective June 11, 2007)

Summary

This document outlines the compensation structure for non-employee directors of Mobility Electronics, Inc. Non-employee directors receive restricted stock units (RSUs) for board and committee service, with specific amounts and vesting schedules based on their roles and elections. Additional cash retainers and meeting fees are paid quarterly for board and committee participation, with higher compensation for the Board Chairman and Lead Independent Director. The policy specifies the timing and conditions for both RSU grants and cash payments.

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.