Spherix Incorporated Board of Directors Annual Compensation Summary
Spherix Incorporated provides annual compensation to its non-employee directors, including a $2,000 annual retainer, $1,200 for each board or in-person committee meeting attended (if not held with a board meeting), and an annual grant of stock options for Spherix common stock, typically between 1,000 and 2,000 shares per director. In 2004, no stock options were granted. This summary outlines the compensation structure for board service.
Exhibit 10.1
Spherix Incorporated
SUMMARY OF ANNUAL COMPENSATION OF MEMBERS OF
THE BOARD OF DIRECTORS OF SPHERIX INCORPORATED
Non-employee directors of Spherix Incorporated (“Spherix”) receive the following annual compensation for service as a member of Spherix:
• Annual retainer of $2,000;
• Fees of $1,200 for each meeting of the Spherix board and each in-person Spherix committee meeting attended not in conjunction with a board meeting; and
• Stock option for shares of Spherix common stock with an exercise price equal to the closing price on the date of grant. The number of option shares grant annually is typically between one thousand and two thousand for each director; however, in 2004 no options were granted to the Directors.
