Synthetech Non-Employee Director Compensation Summary (Fiscal Years 2007–2008)

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Summary

This document outlines Synthetech's compensation and reimbursement policies for non-employee directors for fiscal years 2007 and 2008. Non-employee directors receive annual retainers, meeting fees, and stock option grants upon joining the board, after five years of service, and at annual meetings. Additional retainers are provided for committee chairs and members. Directors are also reimbursed for expenses related to board duties. The compensation range for directors in 2007 was $11,855 to $15,500, with some exceptions for special committee service and additional reimbursements.

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EX-10.9 4 syn_ex109-70331.htm EXHIBIT 10.9 - SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION. syn_ex109-70331.htm
EXHIBIT 10.9

The following table provides information about Synthetech's compensation and reimbursement practices for non-employee directors during fiscal year 2007 and 2008.

NON-EMPLOYEE DIRECTOR COMPENSATION TABLE

Option grant to non-employee directors upon  initial election or appointment to the Board
10,000 shares(1)
Annual retainer(2)
$10,000
Option grant to non-employee directors at first annual meeting after election or appointment
15,000 shares(3)
Option grant to non-employee directors after five years of service
15,000 shares(3)
Payment per Board meeting
$500
Payment per Audit Committee meeting
$500
Additional annual retainer for Chair of the Audit Committee
$1,000
Additional annual retainer for Compensation and Nominating and Governance Committee Members
$500
Reimbursement for expenses attendant to Board membership
Yes
Range of total compensation earned by directors (for fiscal 2007)(4)
$11,855 -- $15,500
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(1)
The options are nonqualified stock options, are granted at the market price on the date of grant and are fully vested on the grant date.  Mr. Ahrens does not receive stock options.
(2)
Paid in quarterly installments of $2,500.
(3)
The options are nonqualified stock options, are granted at the market price on the date of grant and vest in five equal annual installments beginning at the first annual shareholders meeting after the date of grant.  Mr. Ahrens does not receive stock options.
(4)
In addition to the range disclosed, Synthetech paid Dr. Fagan $70,000 for his service on Synthetech’s ad hoc Strategic Development Committee.  During fiscal 2007, Synthetech also reimbursed Mr. Ahrens approximately $1,000 for expenses associated with attending technical conferences on behalf of Synthetech.