Director Compensation Policy for Non-Employee Directors
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Summary
This document outlines the compensation structure for non-employee directors of the company. Directors receive an annual retainer of $20,000, additional fees for attending in-person and telephonic meetings, and extra compensation for committee memberships and chair positions. Non-employee directors are also granted 10,000 shares of restricted stock and 10,000 stock options each year, with options vesting immediately and restricted stock vesting over two years. The policy specifies the amounts for each type of compensation and the vesting schedule for equity awards.
EX-10.8 9 f16327exv10w8.htm EXHBIIT 10.8 exv10w8
Exhibit 10.8
Director Compensation
Retainer — $20,000 per year
Each in-person meeting — $3,000
Each qtrly telephonic meeting — $500
All other telephonic meetings of board or committee — $500 per call per attendee
Retainer — $20,000 per year
Each in-person meeting — $3,000
Each qtrly telephonic meeting — $500
All other telephonic meetings of board or committee — $500 per call per attendee
Committee membership:
Audit – $8,000 per year
Comp – $4,000 per year
Nom & Gov — $4,000 per year
Audit – $8,000 per year
Comp – $4,000 per year
Nom & Gov — $4,000 per year
Chair:
Board — $80,000 per year
Audit Comm — $36,000 per year
Comp Comm — $16,000 per year
Nom & Gov Comm — $16,000 per year
Board — $80,000 per year
Audit Comm — $36,000 per year
Comp Comm — $16,000 per year
Nom & Gov Comm — $16,000 per year
Equity Comp (non-employee directors) – 10,000 shares restricted stock; and 10,000 options per year
Options vest immediately, RS vests 50% after one year and 50% after two years.
