Summary of Non-Management Director Compensation Policy for NSE Board of Directors

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for non-management members of NSE's Board of Directors. Non-management directors receive annual cash retainers for board and committee service, additional fees for attending meetings, and extra compensation for serving as committee chairs or Lead Independent Director. Directors are also granted contingent stock awards and annual stock options, both subject to vesting conditions based on continued service. The policy specifies the amounts and vesting schedules for each type of compensation.

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EX-10.55 9 ex10-55.htm SUMMARY OF NON-MANAGMENT DIRECTOR COMPENSATION Exhibit 10.55 to NSE FORM 10-K Non-Management Director Compensation

NON-MANAGEMENT DIRECTOR COMPENSATION

It is currently the Company's policy to compensate non-management members of its Board of Directors as follows:

1.   Annual Retainers:

    $35,000 for Board service

    $10,000 for service as Lead Independent Director

    $15,000 for Audit Committee Chair

    $10,000 for Compensation Committee Chair and Nominating/Corporate Governance Committee Chair

2.   Meeting Attendance:

    $1,500 per Board meeting attended

    $1,500 per committee meeting attended

    $1,000 per committee meeting attended by chairperson (in addition to $1,500 above)

3.   Stock:

    2,500 contingent stock award upon election to the Board that vest in two equal annual installments provided the director remains serving as a director as follows:
six months from grant        1,250 day prior to annual meeting       1,250

    10,000 option grant per year (vests on the day before the next annual stockholders’ meeting)