Ormat Technologies, Inc. Director Compensation Schedule (Effective November 7, 2006)
This document outlines the compensation structure for directors of Ormat Technologies, Inc. as of November 7, 2006. Directors receive an annual retainer, fees for attending board and committee meetings (with different rates for in-person and telephonic participation), and additional compensation for serving as Audit Committee Chair. Directors are also reimbursed for travel and lodging expenses related to board meetings and receive stock option grants upon joining and annually thereafter. The agreement specifies the amounts and conditions for each type of compensation.
Ormat Technologies, Inc.
Director’s Compensation
(As of November 7, 2006)
Fees | In U.S. Dollars |
Director Retainer | $25,000 |
Board meeting fee - In person - Joining by telephone to an “in person” meeting - Telephonic | $2,500 $1,000 $500 |
Committee meeting fee - In person - Telephonic | $1,500 $500 |
Committee Chair Audit Committee | $7,500 |
Expense Reimbursement Reimbursement of travel and lodging expenses for Board Meetings |
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Options Grants - Initial Grant (market price at date of grant; exercisable 12 months from date of grant) - Annually from second year (at market price on day of grant) | 7,500 7,500 |
