MEDTOX SCIENTIFIC, INC. OUTSIDE DIRECTOR COMPENSATION

EX-10.43 2 ex10-43.htm ex10-43.htm
 
Exhibit 10.43

MEDTOX SCIENTIFIC, INC.
OUTSIDE DIRECTOR COMPENSATION

 
Each non-employee Board member receives annual compensation in an amount determined by the Compensation Committee from time-to-time to be appropriate. Such compensation is currently established as set forth below:
 
 
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The annual base compensation to be paid to non-employee Board members is $21,000.
 
 
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$4,000 is added to the annual base compensation for service as Chairperson of the Corporate Governance and Nominating Committee.
 
 
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$6,000 is added to the annual base compensation for service as Chairperson of the Compensation Committee or as Chairperson of the Audit Committee.
 
 
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Non-employee Board members also receive an annual long-term incentive contribution amount under the Company’s Long-Term Incentive Plan of $21,000.
 
 
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Non-employee Board members who serve as Chairperson of the Corporate Governance and Nominating Committee receive an additional annual long-term incentive contribution amount under the LTIP of $4,000.
 
 
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The non-employee Board members who serve as Chairperson of the Compensation Committee or as Chairperson of the Audit Committee receive an additional annual long-term incentive contribution amount under the LTIP of $6,000.
 
In addition to the compensation described above, Board members are entitled to reimbursement for travel-related expenses incurred in attending meetings of the Board and its committees.