Non-Employee Director Compensation Policy, as amended effective April 1, 2009
Exhibit 10.37
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 | $2,000 | $1,200 | $1,200 | $1,200 |
Chairperson Annual Retainer | $10,000 | $10,000 | $7,000 | $4,500 |
(1) Board members serving on other Board committees that are not permanent Board committees receive additional compensation of $400 per meeting hour.
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.