Non-Employee Director Compensation Schedule for IVC Board (January 2011)
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Summary
This document outlines the compensation structure for non-employee directors of IVC as of January 2011. Directors receive an annual cash retainer of $60,000 and an annual equity award valued at $90,000 in restricted stock, with a target total value of $150,000. Additional fees are provided for serving as Lead Director or as a committee chair, and directors receive extra meeting fees for attending more than 24 meetings per year. New directors receive an initial stock option grant based on the company's stock price at the time of election.
EX-10.V 4 ivcex10v.htm DIRECTOR COMPENSATION SCHEDULE IVC EX 10 v
Exhibit 10 (v)
Non-Employee Director Compensation
January 2011
Board Members:
Annual Retainer: $60,000
Annual Equity Award: $90,000*
*Target Value of restricted stock $150,000
Lead Director Fee: $15,000
Committee Chair Fees:
Audit $15,000
Compensation $15,000
Governance $10,000
Nominating $10,000
Investment $10,000
Meeting Fees: $1,500**
**For meetings attended in excess of 24 in a year
Initial Equity Grant:
Number of stock options equal to $150,000 divided by closing price of Company's stock on the date of election to the Board
