Non-Employee Director Compensation Schedule (Effective December 2022)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-employee directors of the company, effective December 2022. Directors receive an annual cash retainer of $105,000 and an annual equity award valued at $90,000 in restricted stock units. Additional fees are provided for serving as Non-Executive Chairman, committee chairs, and for attending more than 24 meetings per year. New directors receive a pro-rated equity award based on their start date. The agreement specifies the amounts and conditions for each type of compensation.

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EX-10.BF 9 a2022ivcex10bf-directorcom.htm EX-10.BF Document







Non-Employee Director Compensation
Effective December 2022


Board Members:

    Annual Retainer:                    $ 105,000
    
    Annual Equity Award:                $ 90,000 (1)(2)
    
                                $ 195,000


Non-Executive Chairman Fee:            $ 40,000

Committee Chair Fees:

    Audit                    $ 15,000
    Compensation                $ 15,000
    Nominating & Governance        $ 10,000
    Regulatory & Compliance        $ 15,000
    Special                     $ 20,000


Meeting Fees:                $ 1,500 (3)

_____________________________
Notes:
(1)Target Value of restricted stock units
(2)New Directors receive an award of a pro-rated number of shares of the most recent annual grant based on the months remaining until the next annual grant
(3)For meetings attended in excess of 24 in a year

Rev. January 5, 2023