PowerSecure International, Inc. Non-Employee Director Compensation Summary (Effective January 1, 2008)

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Summary

This document outlines the compensation plan for non-employee directors of PowerSecure International, Inc. Effective January 1, 2008, directors receive a monthly cash retainer, additional annual fees for serving as committee chairmen, and meeting fees for committee participation. Directors are also granted restricted stock upon initial election and re-election, with vesting schedules specified for each grant. The plan details the amounts, payment conditions, and vesting periods for these compensation components.

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EX-10.24 2 l30593aexv10w24.htm EX-10.24 EX-10.24  

Exhibit 10.24
POWERSECURE INTERNATIONAL, INC.
Summary Sheet of Compensation of Non-Employee Directors
(Effective January 1, 2008)
     
Cash Retainer:
  $3,000 per month
 
    
Committee Chairman Fees:
  $7,500 per year
 
    
Meeting Fees:
  $1,500 per meeting of a Committee of the Board, provided only one meeting fee is payable per day, regardless of how many meetings are held that day
 
    
Restricted Stock Grants:
  Upon initial election, $100,000 in fair market value (valued upon date of grant based upon the closing sale price of the Common Stock as reported on its principal trading stock exchange or market) of restricted shares of Common Stock, vesting in three equal annual installments
 
    
 
  Upon re-election, $50,000 in fair market value (valued upon date of grant based upon the closing sale price of the Common Stock as reported on its principal stock trading exchange or market) of restricted shares of Common Stock, vesting in four equal quarterly installments