Summary of Compensation for Non-Employee Directors of MicroStrategy Incorporated
MicroStrategy Incorporated outlines compensation for its non-employee directors, who receive $8,000 for each quarterly board meeting attended in person, $4,000 for each Audit Committee meeting attended in person, and up to $12,000 per fiscal quarter for additional board-delegated services, subject to board approval. Directors may receive the board meeting fee for attending one meeting per year by phone if approved by the Chairman. These terms specify how and when non-employee directors are compensated for their service to the company.
Exhibit 10.18
Summary of Compensation for Non-employee Directors
MicroStrategy Incorporated (the “Company”) provides compensation to its non-employee directors as follows: (i) each non-employee director is paid $8,000 for each quarterly meeting of the Board of Directors (“Quarterly Board Meeting Fee”) which the director attends in person, (ii) each member of the Audit Committee is paid $4,000 for each quarterly meeting of such committee which the director attends in person, and (iii) each non-employee director may be paid up to $12,000 in any fiscal quarter for additional services delegated by the Board of Directors to such director in the director’s capacity as a member of the Audit Committee, the Board of Directors or any other committees of the Board of Directors, provided that any such fee paid with respect to a particular service must be approved by the Board of Directors following the completion of such service by the director. Under these arrangements, a non-employee director may be paid a Quarterly Board Meeting Fee for attending a quarterly Board meeting via telephonic conference call if the director has good reason for the director’s failure to attend such meeting in person as determined by the Chairman of the Board, but such payment is limited to one occurrence in any given fiscal year.
