Ixia Summary of Compensation for Non-Employee Directors and Committee Members
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This document outlines the compensation structure for non-employee members of Ixia's Board of Directors and its various committees, effective July 1, 2006. It specifies annual retainers and meeting fees for board and committee service, with higher compensation for chairpersons. Non-employee directors also receive stock option grants upon joining and annually upon re-election, under the company's Director Stock Option Plan. The compensation for the Strategic Planning Committee is effective from its formation on September 13, 2006.
EX-10.17 3 v28055exv10w17.htm EXHIBIT 10.17 exv10w17
Exhibit 10.17
Ixia
Summary of Compensation for Non-Employee Members
of the Board of Directors and its Committees
Summary of Compensation for Non-Employee Members
of the Board of Directors and its Committees
1. Board of Directors | ||||
Annual retainer (except Chairman) | $ | 35,000 | ||
Chairman’s annual retainer | $ | 47,000 | ||
Fee for attending meeting | $ | 2,000 | ||
2. Compensation Committee | ||||
Annual retainer (except Chairman) | $ | 9,000 | ||
Chairman’s annual retainer | $ | 12,000 | ||
Fee for attending a meeting | $ | 1,000 | ||
3. Audit Committee | ||||
Annual retainer (except Chairman) | $ | 10,000 | ||
Chairman’s annual retainer | $ | 20,000 | ||
Fee for attending a meeting | $ | 1,500 | ||
4. Nominating and Corporate Governance Committee | ||||
Annual retainer (except Chairman) | $ | 5,000 | ||
Chairman’s annual retainer | $ | 7,000 | ||
Fee for attending a meeting | $ | 1,000 | ||
5. Strategic Planning Committee | ||||
Annual retainer (except Chairman) | $ | 5,000 | ||
Chairman’s annual retainer | $ | 7,000 | ||
Fee for attending a meeting | $ | 1,000 |
The above summarizes cash compensation payable to the non-employee directors of the Company’s Board of Directors and its Committees effective as of July 1, 2006 (except that the compensation for members of the Strategic Planning Committee is effective as of September 13, 2006 which is the date of formation of the Committee).
In addition to cash compensation, non-employee directors receive under the Company’s Amended and Restated Non-Employee Director Stock Option Plan (the “Director Plan”) (i) a grant of stock options upon their initial election to the Board of Directors and (ii) annual grants of stock options upon their re-election to the Board. The Director Plan is included as Exhibit 4.2 to the Company’s Registration Statement on Form S-8 (Registration No. 333-117969) as filed with the Securities and Exchange Commission on August 5, 2004.
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