Summary Non-Employee Director Compensation Arrangement for Board Members (Excluding Chairman)
This agreement outlines the compensation for non-employee directors (excluding the Chairman) upon their election to the Board. Each director receives options to purchase 100,000 shares of company common stock and an annual fee of $50,000 for their service. Additionally, directors are reimbursed for reasonable travel expenses related to their board duties.
Exhibit 10.22
Summary Non-Employee Director Compensation Arrangement (Except with respect to the Chairman of the Board)
On election to the Board of Directors, for services rendered as a member of the Board of Directors, each non-employee director was awarded options to purchase 100,000 shares of our common stock (subsequently converted to options for Holdco common stock) and will receive an annual fee of $50,000. We reimburse directors for reasonable travel expenses incurred in connection with their duties as our directors.
