Adaptec, Inc. Non-Employee Director Compensation Policy (Amended Effective April 1, 2009)

Contract Categories: Human Resources › Compensation Agreements
Summary

This policy outlines the cash and equity compensation for non-employee directors of Adaptec, Inc. Non-employee directors receive annual and per-meeting retainers for serving on the Board and its committees, with additional compensation for chairpersons and participation in non-permanent committees. They are also eligible for discretionary equity awards under the company's 2006 Director Plan, as determined by the Board. The policy specifies the amounts and conditions for these payments and awards.

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EX-10.37 7 exh10-37.htm NON-EMPLOYEE DIRECTOR COMPENSATION POLICY, AS AMENDED EFFECTIVE APRIL 1, 2009 10-K March 31 2009 Exhibit 10.37

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.