Ixia Summary of Compensation for Non-Employee Directors and Committee Members (Effective January 1, 2004)
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Summary
This document outlines the compensation structure for non-employee members of Ixia's Board of Directors and its committees, effective January 1, 2004. Non-employee directors receive quarterly cash retainers, with higher amounts for committee chairpersons. In addition to cash payments, non-employee directors are granted stock options upon joining the Board and annually upon re-election, under the company's Non-Employee Director Stock Option Plan. The plan details are referenced in a separate SEC filing. The agreement specifies the compensation amounts and eligibility for these benefits.
EX-10.17 2 v17906exv10w17.htm EXHIBIT 10.17 exv10w17
Exhibit 10.17
Ixia
Summary of Compensation for Non-Employee Members
of the Board of Directors and its Committees
(Effective January 1, 2004)
Summary of Compensation for Non-Employee Members
of the Board of Directors and its Committees
(Effective January 1, 2004)
1. Board of Directors | ||||
Quarterly retainer (except Chairman) | $ | 7,500 | ||
Chairman’s quarterly retainer | $ | 10,500 | ||
2. Compensation Committee | ||||
Quarterly retainer (except Chairman) | $ | 3,000 | ||
Chairman’s quarterly retainer | $ | 4,250 | ||
3. Audit Committee | ||||
Quarterly retainer (except Chairman) | $ | 3,000 | ||
Chairman’s quarterly retainer | $ | 5,500 | ||
4. Nominating and Corporate Governance Committee | ||||
Quarterly retainer (except Chairman) | $ | 1,250 | ||
Chairman’s quarterly retainer | $ | 2,500 |
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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