Summary of Director Compensation
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EX-10.1 3 dex101.htm SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION POLICY Summary of Non-Employee Director Compensation Policy
Exhibit 10.1
Summary of Director Compensation
| Director Category (applicable to non-employee directors) | Annual Retainer | Compensation per Meeting (in-person only) | Number of Annual Stock Options* | ||||||
| Board Members | $ | 20,000 | $ | 1,000 | 20,000/10,000 | (1) | |||
| Audit Committee Members (excluding Chairman) | $ | 2,500 | None | None | |||||
| Audit Committee Chairman | $ | 25,000 | None | None | |||||
| Compensation Committee Members (including Chairman) | $ | 2,000 | None | None | |||||
| Nominating and Corporate Governance Committee Members (including Chairman) | $ | 2,000 | None | None | |||||
| * | Applicable to all non-employee directors. |
| (1) | If such option is the first option a director has received from the Company for his or her services as a Board member (the “Initial Grant”), then such option will be for 20,000 shares of the Company’s common stock and the shares subject to such option will vest over four (4) years, with 25% of the shares subject to such option vesting upon the one (1) year anniversary of the date of the grant of such option, and 1/48 of the shares subject to such option vesting monthly thereafter. |
If such option is not the Initial Grant, then such option will be for 10,000 shares of the Company’s common stock. If such option is not an Initial Grant, then 1/48 of the shares subject to such option would vest monthly over four (4) years.
