Spring Creek Healthcare Systems, Inc. 2011 Board Compensation Package

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the 2011 compensation package for the board of directors of Spring Creek Healthcare Systems, Inc. Board members are granted options to purchase 500,000 shares at $0.05 per share for five years, except for Kelly T. Hickel, who receives options for 125,000 shares and 250,000 shares outright. Independent directors receive $1,000 plus travel expenses for attending meetings in person, and $500 for participating in meetings by phone.

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EX-10.2 3 ex102.htm EXHIBIT 10.2 Unassociated Document
Exhibit 10.2
 
Spring Creek Healthcare Systems, Inc.
 
2011 Board Compensation Package
 

 
The Board Compensation Package consists of:
 
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Options to purchase 500,000 shares at an exercise price equivalent to the closing price of the meeting ($.05) and that these options are granted with a 5 year term, with the exception of Kelly T. Hickel who will have options to purchase 125,000 shares as well as receive 250,000 shares

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$1,000 for each independent director that physically attends a meeting as well as traveling expenses

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$500 for each independent director that participates in a telephonic meeting