NMT Medical, Inc. Non-Employee Director Compensation Program Summary (as of March 21, 2005)

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Summary

This document outlines the compensation program for non-employee directors of NMT Medical, Inc. Directors receive stock options upon initial election and annually upon re-election, with additional options for committee service. They are also paid annual retainers, fees for attending board and committee meetings (with higher amounts for the Lead Director), and are reimbursed for related expenses. The program applies only to directors who are not otherwise compensated by the company.

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EX-10.43 2 dex1043.htm SUMMARY OF COMPENSATION - BOARD OF DIRECTORS Summary of Compensation - Board of Directors

Exhibit 10.43

 

COMPENSATION PROGRAM FOR

NON-EMPLOYEE DIRECTORS OF NMT MEDICAL, INC.

 

As of March 21, 2005, the following represents the compensation program for non-employee directors of NMT Medical, Inc. (the “Company”) who are not otherwise compensated by the Company:

 

  •   an option to purchase 20,000 shares of the Company’s Common Stock (the “Common Stock”) upon initial election and an option to purchase 5,000 shares (7,000 shares for the Company’s Lead Director) of Common Stock annually thereafter upon re-election at the Company’s annual meeting of stockholders;

 

  •   following each annual meeting of stockholders, each eligible director who served as a member of a committee of the Board of Directors during the preceding fiscal year is granted an additional option to purchase (i) 2,000 shares of Common Stock if such director served as chairperson of such committee or (ii) 1,000 shares of Common Stock if such director did not serve as chairperson of such committee;

 

  •   $12,000 ($15,000 for the Company’s Lead Director) per year for their services as directors;

 

  •   $1,000 ($1,500 for the Company’s Lead Director) for each meeting of the Board of Directors that they attend in person;

 

  •   $500 for each telephonic meeting of the Board of Directors that they attend;

 

  •   $500 for each committee meeting that they attend; and

 

  •   expense reimbursement for attending Board of Directors and committee meetings.