Summary Schedule of Non-Management Director Fees for Stratos
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Summary
This document outlines the compensation structure for non-employee directors of Stratos. Non-management directors receive an annual retainer, meeting attendance fees, and additional retainers for serving as committee chairs or members. The Chairman and committee chairs receive higher retainers. Directors are also reimbursed for reasonable expenses related to meeting attendance and are eligible for stock options and restricted stock awards.
EX-10.24 6 c96692exv10w24.htm SUMMARY SCHEDULE OF NON-MANAGEMENT DIRECTOR FEES exv10w24
EXHIBIT 10.24
Summary Schedule of Non-Management Director Fees
All non-employee directors receive an annual retainer of $24,000, plus an attendance fee of $1,500 for each meeting of the board of directors at which they are present. The Chairman of the board of directors receives an annual retainer of $60,000. The audit committee Chairman receives an additional annual retainer of $15,000. The Chair of each of the compensation committee and the corporate governance and nominating committee receives an additional annual retainer of $10,000. Members of the audit committee receive an additional annual retainer of $7,500 and members of the compensation and the corporate governance and nominating committees receive an additional annual retainer of $5,000. Committee members receive an additional $1,500 for each committee meeting attended. Stratos also reimburses directors for their reasonable expenses incurred in attending meetings. Non-employee directors are also eligible to receive stock options and restricted stock awards.
