Venaxis, Inc. Non-Employee Director Compensation Policy

Contract Categories: Human Resources › Compensation Agreements
Summary

Venaxis, Inc. outlines its compensation policy for non-employee directors, providing a monthly cash retainer of $1,000, stock option awards upon joining the Board and annually thereafter, and reimbursement for out-of-pocket expenses. The non-executive Chair receives a larger annual stock option grant. This policy sets the terms for how non-employee directors are compensated for their service on the Board.

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EX-10.8 2 ex10x8.htm EXHIBIT 10.8

Exhibit 10.8
 

Venaxis, Inc.
 
Non-Employee Director Compensation
 
Type of Compensation
Amount
Monthly Cash Retainer for Non-Employee Directors
$  1,000
Stock Option Awards
(1)
Other Compensation
(2)

 
___________________
 
(1)
Non-employee directors typically receive a stock option award upon joining the Board, that is two times the annual grant, and then typically receive annual grants, which may be pro-rated in the first year after joining the Board.  In 2014 the annual grant was stock options to acquire 34,000 shares of common stock.  The non-executive Chair of the Board typically receives an annual grant that is 150% of the non-employee director annual grant.
 
(2)
Directors are reimbursed for out-of-pocket expenses.