XTIA Non-Employee Director Compensation Policy
This policy outlines the compensation for non-employee members of XTIA's Board of Directors. Board members receive an annual cash retainer of $50,000, paid quarterly, and annual stock options equal in value to their total cash compensation. Additional annual fees are provided for serving on or chairing board committees, with amounts varying by committee and role. All payments are made in quarterly installments. The policy does not specify compensation for the Chair of the Board.
Exhibit 10.3
XTIA Non-Executive Board Member Compensation Policy
| Cash Retainer | Stock Awards | Committee Compensation | Chair Compensation | ||||
| Annual fee of $50,000 payable in quarterly installments in arrears
| Annual grant of stock options with a fair market value equal to the cash compensation received in annual retainer and committee fees | Annual fees, payable in quarterly installments in arrears:
Member of Nominating and Corporate Governance Committee: $5,000
Member of Compensation Committee: $7,500
Member of Audit Committee: $10,000 | Annual fees, payable in quarterly installments in arrears:
Chair of Nominating and Corporate Governance Committee: $10,000
Chair of Compensation Committee: $15,000
Chair of Audit Committee: $20,000
Chair of Board: N/A |
