Salix Pharmaceuticals 2006 Non-Employee Director Compensation Summary
This document outlines the 2006 compensation structure for non-employee directors of Salix Pharmaceuticals. It specifies annual retainers, additional fees for committee chairs and members, and meeting fees for both in-person and telephonic participation. Directors receive quarterly payments, with total annual compensation varying based on committee roles. The agreement ensures directors are compensated for their service and participation in board and committee meetings.
EXHIBIT 10.49
Salix Pharmaceuticals
2006 Board of Directors Compensation Structure
| John Chappell | Thomas D’Alonzo | Richard Franco | William Keane | William Harral, III | |||||||||||
| Annual Fees: | |||||||||||||||
| Annual Retainer | $ | 75,000 | $ | 20,000 | $ | 20,000 | $ | 20,000 | $ | 20,000 | |||||
| Audit Committee Chair | — | — | — | 6,000 | — | ||||||||||
| Audit Committee Member | — | 6,000 | 6,000 | 6,000 | 6,000 | ||||||||||
| Compensation Committee Chair | — | 6,000 | — | — | — | ||||||||||
| Nominating/Governance Committee Chair | — | — | 6,000 | — | — | ||||||||||
| Total Annual Fees | $ | 75,000 | $ | 32,000 | $ | 32,000 | $ | 32,000 | $ | 26,000 | |||||
| Amount due Quarterly | $ | 18,750 | $ | 8,000 | $ | 8,000 | 8,000 | $ | 6,500 | ||||||
Daily Board of Director’s Meeting Fees:
Face-to-face meeting—$2,000 per day
Telephonic meeting—$1,000 per call
Audit committee meeting—$500 per meeting
