MIND Technology, Inc. Summary of Non-Employee Director Compensation (as of July 31, 2022)

Contract Categories: Human Resources › Compensation Agreements
Summary

MIND Technology, Inc. outlines the compensation for its non-employee directors, including annual cash retainers, additional fees for committee membership and chair positions, and per-meeting attendance fees. The Non-Executive Chairman and committee chairs receive higher compensation. Non-employee directors may also receive discretionary equity awards, such as stock options or restricted stock, under the company’s equity compensation plans. This summary sets forth the structure and amounts of director compensation as of July 31, 2022.

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EX-10.15 2 ex_460445.htm EXHIBIT 10.15 ex_460445.htm

Exhibit 10.15

 

MIND Technology, Inc.

Summary of Non-Employee Director Compensation

(As of July 31, 2022)

 

 

Retainer/Fees

 

Each non-employee director is entitled to receive the following compensation:

 

 

•

an annual cash retainer fee of $32,000 per year, plus an additional $50,000 for the Non-Executive Chairman of the Board of Directors;
 

•

an additional cash retainer of $7,500 per year for each member of the Audit Committee, plus an additional $8,500 per year for the chairperson of the Audit Committee;
 

•

an additional cash retainer of $5,000 per year for each member of the Compensation Committee, plus an additional $6,000 per year for the chairperson of the Compensation Committee;
  • an additional cash retainer of $4,000 per year for each member of the Nominating Committee, plus an additional $4,000 per year for the chairperson of the Nominating Committee;
 

•

an additional cash retainer of $10,000 per year for each member of the Strategic Planning Committee, plus an additional $30,000 per year for the chairperson of the Strategic Planning Committee;
 

•

an additional fee of $3,500 for each Board of Directors meeting attended, including telephonic meetings.

 

 

Equity-Based Compensation

 

In addition to cash compensation, non-employee directors are eligible, at the discretion of the full Board of Directors, to receive discretionary grants of stock options or restricted stock or any combination thereof under MIND Technology, Inc.’s equity compensation plans.