Phase Forward Incorporated Summary of Cash Compensation Practices for Non-Employee Directors (Effective January 1, 2006)
This document outlines the cash compensation structure for non-employee directors of Phase Forward Incorporated, effective January 1, 2006. It specifies annual retainers for board and committee memberships, additional fees for committee chairs, and states that payments are made quarterly. Directors are also reimbursed for reasonable expenses related to board meetings.
Exhibit 10.19
Phase Forward Incorporated
Summary of Cash Compensation Practices for Non-Employee Directors
(Effective January 1, 2006)
Annual retainer for Board membership: $18,000
Audit and Finance Committee
Annual retainer for committee membership: $12,000
Additional retainer for committee chair: $6,000
Management Development and Compensation Committee
Annual retainer for committee membership: $7,000
Additional retainer for committee chair: $3,000
Governance, Nominating and Compliance Committee
Annual retainer for committee membership: $7,000
Additional retainer for committee chair: $4,000
Annual retainer fees will be paid quarterly in arrears. All directors are reimbursed for reasonable out-of-pocket expenses incurred in attending meetings of the Board of Directors.
