Summary of Outside Directors’ Compensation for Non-Employee Directors

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation plan for non-employee directors of the company, effective upon the closing of the offering. Each non-employee director receives an annual retainer of $45,000 for board service, with an additional $5,000 for each committee chair position held. Directors are also paid $2,000 for attending board or committee meetings in person and $1,500 for attending by phone. The agreement specifies the payment structure but does not include other terms or conditions.

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EX-10.8 8 h80840a2exv10w8.htm EX-10.8 exv10w8
Exhibit 10.8
Summary of Outside Directors’ Compensation
     Our non-employee directors are entitled to receive the following compensation, effective as of the closing of the offering:
  •   An annual retainer of $45,000 per director for service on our board;
 
  •   An additional retainer of $5,000 for the chair of each board committee;
 
  •   A fee for in person attendance at board and committee meetings of $2,000 per meeting and
 
  •   A fee for telephonic attendance at board and committee meetings of $1,500 per meeting.