Independent Director Compensation Schedule for Board and Committee Service
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Summary
This document outlines the compensation structure for independent directors of the company. Directors receive an annual cash retainer of $30,000, with additional fees for serving as chair or member of various board committees. New directors are granted 250,000 stock options upon joining, with vesting over several years. Ongoing annual stock options may be awarded at the discretion of the Compensation Committee. All cash payments are made quarterly and begin after the company's next financing following January 24, 2022.
EX-10.1 2 ex10-1.htm
Exhibit 10.1
Independent Director Compensation
| Annual Retainer | $ | 30,000 | ||
| Audit Committee Chair | $ | 20,000 | ||
| Compensation Committee Chair | $ | 15,000 | ||
| Nominating & Governance Committee Chair | $ | 10,000 | ||
| Committee Members: | ||||
| Audit | $ | 7,500 | ||
| Compensation | $ | 5,000 | ||
| Nominating | $ | 3,500 | ||
| Initial Equity Signing | 250,000 options at market price with multi-year vesting | |||
| Annual Stock Options | At discretion of Compensation Committee |
* All cash fees are annual, paid quarterly, and commence upon the completion of the Company’s next financing subsequent to January 24, 2022.
