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EX-10.7 4 v11543exv10w7.htm EXHIBIT 10.7 exv10w7
Exhibit 10.7
Tekelec
Summary of Compensation for Non-Employee Members
of the Board of Directors and its Committees
(Effective April 1, 2005)
of the Board of Directors and its Committees
(Effective April 1, 2005)
1. | Board of Directors | |||||||
Quarterly retainer (except Chairman) | $ | 12,500 | ||||||
Chairmans quarterly retainer | $ | 15,000 | ||||||
Fee for attending meeting in excess of four hours | $ | 2,000 | ||||||
Fee for attending meeting of four hours or less | $ | 1,000 | ||||||
2. | Compensation Committee | |||||||
Quarterly retainer (except Chairman) | $ | 1,250 | ||||||
Chairmans quarterly retainer | $ | 4,000 | ||||||
Fee for attending a meeting | $ | 750 | ||||||
3. | Audit Committee | |||||||
Quarterly retainer (except Chairman) | $ | 2,000 | ||||||
Chairmans quarterly retainer | $ | 5,000 | ||||||
Fee for attending a meeting | $ | 800 | ||||||
4. | Nominating and Corporate Governance Committee | |||||||
Quarterly retainer (except Chairman) | $ | 1,000 | ||||||
Chairmans quarterly retainer | $ | 1,500 | ||||||
Fee for attending a meeting | $ | 750 | ||||||
5. | Corporate Development Committee | |||||||
Quarterly retainer (except Chairman) | $ | 1,000 | ||||||
Chairmans quarterly retainer | $ | 1,500 | ||||||
Fee for attending a meeting in excess of four hours | $ | 1,000 | ||||||
Fee for attending a meeting of four hours or less | $ | 750 |
In addition to cash compensation, non-employee directors receive under the Companys Amended and Restated Non-Employee Director Stock Option Plan (the Director Plan) (i) a grant of stock options upon their initial election to the Board of Directors and (ii) annual grants of stock options upon their re-election to the Board. The Director Plan is included as Exhibit 10.1 to the Companys Quarterly Report on Form 10-Q for the quarter ended June 30, 2004, as filed with the Securities and Exchange Commission on August 9, 2004.
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