PTC Compensatory Arrangements with Non-Employee Directors for 2010
This agreement outlines the compensation for PTC's non-employee directors for the current year. Non-employee directors receive an annual cash retainer, additional fees for attending board or committee meetings, and annual grants of restricted stock. Committee chairs receive extra cash retainers. The restrictions on the stock grants lapse at the earlier of the 2011 Annual Meeting or March 15, 2011, provided the director remains in service. Employee directors do not receive compensation for board service.
Exhibit 10.4
Compensatory Arrangements with Directors
The amount of the annual cash retainer, committee chair cash retainers and restricted stock grants for our non-employee directors for the current year are set forth in the table below. Each non-employee director is also paid $2,000 for each meeting of the Board of Directors or any committee thereof of which he is a member that he attends. Directors who are employees of PTC are not compensated for their service as a director.
| Name | Chair Position | Annual Retainer | Committee Chair Retainer | Annual Equity Grant(1) | ||||||
| Donald Grierson | Lead Independent Director
Nominating & Corporate Governance Committee | $ | 75,000 | — | 12,912 shares | |||||
| Robert Schechter | Audit Committee | $ | 35,000 | $ | 10,000 | 11,813 shares | ||||
| Robert Goldman | Compensation Committee | $ | 35,000 | $ | 10,000 | 11,813 shares | ||||
| Michael Porter | Corporate Development Committee | $ | 35,000 | $ | 5,000 | 10,714 shares | ||||
| Paul Lacy | $ | 35,000 | 10,714 shares | |||||||
| (1) | The restrictions on the shares will lapse on the earlier of the date of the 2011 Annual Meeting of Stockholder and March 15, 2011, provided the person remains a director on that date and pursuant to our 2000 Equity Incentive Plan. |
