Synopsys, Inc. Non-Employee Director Compensation Arrangements
Synopsys, Inc. provides compensation to its non-employee directors for serving on its Board of Directors. Directors receive an annual cash retainer of $125,000, plus additional fees for Audit Committee participation, with higher amounts for the committee chair. Payments are made quarterly. Non-employee directors are also eligible for equity awards under the company's 2005 Non-Employee Directors Equity Incentive Plan. Synopsys reimburses directors for travel expenses related to Board meetings. These arrangements outline the key compensation terms for non-employee Board members.
EXHIBIT 10.27
SYNOPSYS, INC.
NON-EMPLOYEE DIRECTOR COMPENSATION ARRANGEMENTS
The non-employee directors of Synopsys, Inc. (Synopsys) are compensated for serving on Synopsys Board of Directors (the Board). The compensation payable to Synopsys non-employee directors consists of cash compensation and equity awards. Synopsys also reimburses non-employee directors for out-of-pocket expenses for travel to Board meetings pursuant to Synopsys Corporate Travel Policy.
Cash. Synopsys pays non-employee directors an annual retainer of $125,000 for serving on the Board. Synopsys also pays a per meeting fee to members of the Audit Committee of the Board equal to $2,000 per committee meeting ($4,000 for the Audit Committee chair), up to an annual maximum of $8,000 ($16,000 for the Audit Committee chair). The retainers and meeting fees are paid in advance in four equal payments at our regularly scheduled quarterly Board meetings.
Equity. Non-employee directors are eligible to receive equity awards under the 2005 Non-Employee Directors Equity Incentive Plan.