Salix Pharmaceuticals 2005 Board of Directors Compensation Structure
This document outlines the 2005 compensation structure for the Board of Directors of Salix Pharmaceuticals, listing annual retainers, committee chair and member fees, and meeting fees for directors John Chappell, Thomas D’Alonzo, Richard Franco, and William Keane. Directors receive annual retainers, additional fees for committee roles, and payments for attending meetings, with amounts specified for both in-person and telephonic participation. Payments are made quarterly. The agreement sets out the financial terms for board service during the specified year.
Exhibit 10.49
Salix Pharmaceuticals
2005 Board of Director’s Compensation Structure
| John Chappell | Thomas D’Alonzo | Richard Franco | William Keane | |||||||||
| Annual Fees: | ||||||||||||
| Annual Retainer | $ | 75,000 | $ | 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 Committee Chair | — | — | 6,000 | — | ||||||||
| Total Annual Fees | $ | 81,000 | $ | 32,000 | $ | 32,000 | $ | 32,000 | ||||
| Amount due Quarterly | $ | 20,250 | $ | 8,000 | $ | 8,000 | 8,000 | |||||
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
