Summary of Director Compensation
Exhibit 10.21
Summary of Director Compensation
In 2008, the board of directors approved the following annual compensation to directors who are not employees:
Cash compensation
• | Annual retainer, paid in four equal quarterly installments, for serving as a member of the board of directors as follows: |
• | $55,000 for the chairman of the board |
• | $35,000 for all other non-employee directors |
• | A one-time “Startup Year Fixed Meeting Fee Retainer” in the amount of $15,000 per non-employee director |
• | Annual retainer, paid in four equal quarterly installments, for serving on a committee of the board of directors as follows: |
• | $20,000 for serving as the chairman of the audit committee |
• | $20,000 for serving as the chairman of the compensation committee |
• | $10,000 for serving as the chairman of the corporate governance and nominating committee |
• | $10,000 for serving as a member of the audit committee |
• | $10,000 for serving as a member of the compensation committee |
• | $5,000 for serving as a member of the corporate governance and nominating committee |
• | Reimbursement for customary and usual travel expenses |
Stock compensation
• | Upon the date on which a person first becomes a non-employee director, such non-employee director will receive a one-time stock option grant to purchase 60,000 shares of Macrovision common stock pursuant to the 2008 Equity Incentive Plan |
• | Upon the conclusion of our annual meeting of stockholders each year, each non-employee director, if he or she continues serving as a member of the board of directors, will each receive an additional annual stock option grant to purchase 30,000 shares of Macrovision common stock pursuant to the 2008 Equity Incentive Plan |