Kos Pharmaceuticals, Inc. 2006 Non-Employee Director Compensation Plan

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the compensation for non-employee directors of Kos Pharmaceuticals, Inc. in 2006. Directors receive an annual retainer of $30,000, additional fees for attending board and committee meetings, and higher retainers for committee chairpersons. Compensation also includes stock option and restricted stock awards upon election and at each annual meeting. Telephone meeting attendance is compensated at a lower rate. The audit committee chairperson receives a higher annual retainer than other committee chairs.

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EX-10.21 3 g00234exv10w21.htm 2006 NON-EMPLOYEE DIRECTOR COMPENSATION 2006 Non-Employee Director Compensation  

Exhibit 10.21
Kos Pharmaceuticals, Inc.
2006 Non-Employee Director Compensation
                 
    Per Meeting     Annual  
Board Meetings:
                
 
                
Annual Retainer
           $ 30,000  
 
                
Meetings*
   $ 2,500          
 
                
Committees:
                
 
                
Chairperson Retainer
           $ 7,500 **
 
                
Meetings*
   $ 2,500          
 
                
Stock Option Awards:
                
 
                
Upon First Election
           20,000 shares
 
                
Each Annual Meeting
           20,000 shares
 
                
Restricted Stock Awards:
                
 
                
Each Annual Meeting
           5,000 shares
 
*   Telephone attendance fees are $500 per meeting.
 
**   Audit committee chairperson receives $10,000 annual retainer.