Synovis Life Technologies, Inc. Non-Employee Directors’ Compensation Policy (Fiscal 2010)

Summary

Synovis Life Technologies, Inc. has set out its 2010 compensation policy for non-employee directors. Directors receive a monthly retainer, fees for attending board and committee meetings, and additional annual stipends for serving as committee chairs. Non-employee directors are also granted stock options, which vest over three years and have a set exercise price. Directors who are company employees do not receive this compensation. The policy outlines the amounts and conditions for both cash and equity compensation.

EX-10.10 2 c55201exv10w10.htm EX-10.10 exv10w10

Exhibit 10.10

Non-Employee Directors’ Cash Compensation

In fiscal 2010, non-employee directors of Synovis Life Technologies, Inc. (the “Company”) will receive cash compensation as outlined in the table below:


	Compensation Rate
	Fiscal 2010
Monthly Board member retainer	$	1,500
Fee per Board meeting attended	$	1,250
Fee per Audit Committee meeting attended	$	1,000	⁽¹⁾
Fee per Compensation Committee meeting attended	$	1,000	⁽¹⁾
Fee per Governance Committee meeting attended	$	1,000	⁽¹⁾
Fee per Investment Review Committee meeting attended	$	500
Annual stipend for Chairman of the Board	$	4,000
Annual stipend for Audit Committee Chair	$	3,000
Annual stipend for Compensation Committee Chair	$	2,000


(1)		The Chairs of the Audit, Compensation and Governance Committees of the Board of Directors (the “Board”) of the Company will receive 1.5 times the meeting fee for each committee meeting to reflect the work and preparation required as chair for such meetings.

Directors who are otherwise employees of the Company do not receive any additional compensation for their service on the Board or any of its committees.

Non-Employee Directors’ Equity Compensation

On November 2, 2009, non-qualified stock options to purchase shares of the Company’s common stock listed below, at an exercise price of $12.00 per share (the closing price of a share of the Company’s common stock on the date of the grant), were awarded to each non-employee director of the Company under the Company’s 2006 Stock Incentive Plan:


Name	Options Granted
Timothy M. Scanlan		30,000
William G. Kobi		30,000
Karen Gilles Larson		30,000
Mark F. Palma		30,000
Richard W. Perkins		30,000
John D. Seaberg		30,000
Sven A. Wehrwein		30,000

Such options vest in increments of one-third on October 31, 2010, 2011 and 2012, respectively, and expire four years following the vest date.