Summary of Non-Employee Director Compensation for Board and Committee Service
This document outlines the compensation structure for non-employee directors of the company. Non-employee directors receive an annual retainer of $65,000, payable in cash or restricted stock units, and an annual equity award of $120,000 in restricted stock units. Additional cash retainers are provided for serving as Chair of the Board ($120,000), and for chairing or serving on key committees, including the Audit, Compensation and Personnel, and Nominating and Corporate Governance Committees. The compensation is designed to recognize the responsibilities and contributions of non-employee directors.
EXHIBIT 10.2
SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION
| Annual Retainer | $ | 65,000 | (1) | |
| Annual Equity Award | $ | 120,000 | (2) | |
| Chair of the Board | $ | 120,000 | ||
| Committee Annual Cash Retainers: | ||||
| Audit Committee Chair | $ | 15,000 | ||
| Audit Committee Member | $ | 5,000 | ||
| Compensation and Personnel Committee Chair | $ | 15,000 | ||
| Nominating and Corporate Governance Committee Chair | $ | 10,000 |
| (1) | The annual retainer is payable in cash or restricted stock units, at the election of the non-employee director. |
| (2) | The annual equity award is payable in the form of restricted stock units. |
