MEDTOX Scientific, Inc. Outside Director Compensation Policy

Summary

This document outlines the compensation policy for non-employee members of the Board of Directors of MEDTOX Scientific, Inc. Non-employee directors receive an annual base compensation of $21,000, with additional amounts for serving as chairpersons of certain committees. They also receive annual long-term incentive contributions under the company's Long-Term Incentive Plan, and are reimbursed for travel expenses related to board meetings. The Compensation Committee may adjust these amounts as appropriate.

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.