Summary of Non-Employee Director Compensation
This document outlines the compensation structure for non-employee directors of the company. Non-employee directors receive an annual retainer of $40,000, additional annual retainers for serving as committee chairs, and fees for attending board and committee meetings. They also receive an annual equity award valued at $28,000, split equally between stock options and restricted stock, plus 2,500 stock options, with equity granted quarterly. Employee directors are compensated separately under negotiated packages.
Exhibit 10.1
Summary of Non-Employee Director Compensation(1)
| Annual Retainer | $ | 40,000 | |
| Committee Chair Annual Retainer | |||
| Audit Committee | $ | 10,000 | |
| Compensation Committee | $ | 8,000 | |
| All Other Committees | $ | 5,000 | |
| Attendance at Board Meetings | |||
| Board Meetings | $ | 1,500 | |
| Committee Meetings | $ | 1,200 | |
| Annual Equity Award | | $28,000(2) and 2,500 stock options |
| (1) | Employee directors are compensated based on negotiated compensation packages. |
| (2) | The $28,000 Equity Award is comprised of 50% stock options and 50% restricted stock, payable/granted quarterly. |
