Summary of Pixelworks Non-Employee Director Compensation (2008)
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Summary
This document outlines the compensation structure for non-employee directors of Pixelworks, Inc. as of the third quarter of 2008. Directors receive annual cash retainers for board and committee service, paid quarterly, with additional amounts for committee chairs. Directors also receive annual stock grants, with new directors receiving an initial grant of shares. Compensation for Mr. Alley is governed by a separate CEO Transition Agreement. The policy applies to terms beginning with the 2009 annual meeting.
EX-10.1 2 v50401exv10w1.htm EX-10.1 exv10w1
Exhibit 10.1
Summary of Pixelworks Non-Employee Director Compensation
Annual compensation will be paid in quarterly increments, and the following rates will apply from the third quarter of 2008:
Cash compensation:
Board Member Retainer | $27,000 per year | |
Audit Committee Retainer | $8,000 per year, regular member $16,000 per year, Chair | |
Compensation Committee | $5,000 per year, regular member | |
Retainer | $10,000 per year, Chair | |
Nominating and Governance | $3,000 per year, regular member | |
Committee Retainer | $6,000 per year, Chair |
Stock Compensation Plan:
6,000 shares per year (measured from annual meeting to annual meeting), policy to begin with term in office beginning with the 2009 annual meeting. New non-employee Board members will receive an initial recruitment grant of 10,000 shares.
Other:
Mr. Alley’s director compensation is determined by the CEO Transition Agreement dated and effective December 12, 2006, by and between Allen Alley and Pixelworks, Inc. (Exhibit 10.10 to the Company’s Annual Report on Form 10-K filed on March 12, 2007).
