ADAPTEC, INC. NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
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EX-10.28 4 dex1028.htm NON-EMPLOYEE DIRECTOR COMPENSATION POLICY, AS AMENDED Non-Employee Director Compensation Policy, as amended
Exhibit 10.28
ADAPTEC, INC.
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
Cash Compensation
The following table lists our non-employee director cash compensation policy.
| Non-Employee Director Cash Compensation (1) | |||||||||||||
| Board of Directors | Audit Committee | Compensation Committee | Governance and Nominating Committee | ||||||||||
| Member Annual Retainer | $ | 26,000 | $ | 5,000 | $ | 3,500 | $ | 2,250 | |||||
| Per-Meeting Retainer (2) | $ | 2,000 | $ | 1,200 | $ | 1,200 | $ | 1,200 | |||||
| Chairperson Annual Retainer | $ | 36,000 | (3) | $ | 10,000 | $ | 7,000 | $ | 4,500 | ||||
| (1) | Board members serving on other Board committees that are not permanent Board committees may receive additional compensation, as determined by the Board. |
| (2) | Chairperson of the Board and each Board committee may assess a reduced per-meeting retainer. |
| (3) | This amount includes the $26,000 member annual retainer. |
Equity Compensation
Non-employee directors are eligible to participate in the Adaptec, Inc. 2006 Director Plan (the “Plan”). Awards under the Plan are discretionary and are determined by the Board.
