Mad Catz Interactive, Inc. Non-Employee Board Compensation Policy

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for non-employee directors of Mad Catz Interactive, Inc. Non-employee directors receive an annual fee of $50,000, with additional retainers for the Chairman of the Board and Audit Committee Chairman. Directors are also paid for attending meetings, with different rates for in-person and telephonic participation. Each non-employee director is granted stock options to purchase up to 25,000 shares at fair market value, fully vested upon grant and expiring in 10 years.

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EX-10.20 4 a52982exv10w20.htm EX-10.20 exv10w20
Exhibit 10.20
MAD CATZ INTERACTIVE, INC. NON-EMPLOYEE BOARD COMPENSATION
         
Non-Employee Director — Annual
  $ 50,000  
Non-Employee Director — Chairman of the Board Annual Retainer
  $ 20,000  
Non-Employee Director — In-Person Meeting Attendance
  $2,500 per meeting
Non-Employee Director — Telephonic Meeting Attendance
  $1,000 per telephonic meeting lasting longer than two hours and $500 per telephonic meeting lasting less than two hours
 
        
Audit Committee — Attendance
  $1,500 per meeting
Audit Committee — Chairman Annual Retainer
  $ 10,000  
Each non-employee director receives a grant to purchase up to 25,000 shares of Company’s Common Stock on the date of the Company’s annual meeting of shareholders. The exercise price of the stock options is based on the fair value of the Company’s on the date of the Annual Meeting. The stock options are fully vested upon grant and expire 10 years after issuance.