Adaptec, Inc. Non-Employee Director Compensation Policy
This policy outlines the compensation for non-employee directors of Adaptec, Inc. Directors receive annual and per-meeting cash retainers for serving on the Board and its committees, with additional compensation for chairpersons and for participation in non-permanent committees. Compensation is paid quarterly. Non-employee directors are also eligible for discretionary equity awards under the Adaptec, Inc. 2006 Director Plan, as determined by the Board.
Exhibit 10.1
ADAPTEC, INC.
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
Cash Compensation
The following table lists our non-employee director cash compensation policy. These amounts are paid quarterly.
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| Non-Employee Director Cash Compensation (1) |
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| Board of Directors |
| Audit Committee |
| Compensation |
| Governance and |
| ||||
| Member Annual Retainer |
| $ | 26,000 |
| $ | 5,000 |
| $ | 3,500 |
| $ | 2,250 |
|
| Per-Meeting Retainer |
| $ | 3,000 |
| $ | 1,200 |
| $ | 1,200 |
| $ | 1,200 |
|
| Chairperson Annual Retainer |
| $ | 10,000 |
| $ | 10,000 |
| $ | 7,000 |
| $ | 4,500 |
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(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.
