Non-Management Director Compensation Policy for Board of Directors

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for non-management members of the company's Board of Directors. Non-management directors receive annual retainers for board and committee service, additional fees for attending meetings, and stock-based compensation including stock grants and annual option grants. The policy specifies the amounts for each type of compensation and the vesting schedule for stock options.

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EX-10.64 8 ex10-642004k.htm MANAGEMENT COMPENSATION Exhibit 10.64 NSE 2004 FORM 10-K 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

    $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 stock grant upon election to Board

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