Nyer Medical Group, Inc. Director Compensation Summary
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Summary
Nyer Medical Group, Inc. outlines the compensation for its directors. Non-employee directors receive $600 for each board or committee meeting attended by phone and $1,000 for each in-person meeting. Committee chairpersons receive an additional 50% of these amounts. Directors are also granted 4,000 shares of company stock annually, with half vesting every six months, provided they remain in service. The company reimburses directors for travel expenses related to their duties. These terms may be changed at any time by the Board of Directors.
EX-10.25 2 v161403_ex10-25.htm
EXHIBIT 10.25
NYER MEDICAL GROUP, INC.
SUMMARY OF DIRECTOR COMPENSATION
The following is a summary of the currently effective compensation of the directors of Nyer Medical Group, Inc., (the “Company”) for services as directors, which is subject to modification at any time by the Board of Directors.
• | Each non-employee director receives (a) $600 per telephone meeting of the Board of Directors or a committee of the Board of Directors and (b) $1,000 each per in-person meeting of the Board of Directors or in-person meeting of a committee of the Board of Directors. The non-employee chairpersons of a committee of the Board of Directors receive an additional 50% of the sum of (a) and (b) detailed above. |
| • | Each director is entitled to receive a grant of 4,000 of the Company’s shares of common stock for each year served as a director, with 2,000 of such options vesting semi-annually each June 30th and December 31st, provided that the optionee is still serving as director, as applicable, on such date. |
| • | The Company generally reimburses all directors for travel expenses incurred in connection with their duties as directors. |