Tekelec Summary of Compensation for Non-Employee Directors and Committee Members (Effective April 1, 2005)

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Summary

This document outlines the compensation structure for non-employee members of Tekelec's Board of Directors and its committees, effective April 1, 2005. It specifies quarterly retainers and meeting fees for board and committee service, with higher compensation for chairpersons. Non-employee directors also receive stock options upon joining and annually upon re-election, under the company's Director Stock Option Plan. The agreement details the amounts paid for various roles and meeting attendance, ensuring transparency in director compensation.

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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)
                 
1.    
Board of Directors
        
       
Quarterly retainer (except Chairman)
   $ 12,500  
       
Chairman’s 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  
       
Chairman’s quarterly retainer
   $ 4,000  
       
Fee for attending a meeting
   $ 750  
                 
3.    
Audit Committee
        
       
Quarterly retainer (except Chairman)
   $ 2,000  
       
Chairman’s quarterly retainer
   $ 5,000  
       
Fee for attending a meeting
   $ 800  
                 
4.    
Nominating and Corporate Governance Committee
        
       
Quarterly retainer (except Chairman)
   $ 1,000  
       
Chairman’s quarterly retainer
   $ 1,500  
       
Fee for attending a meeting
   $ 750  
                 
5.    
Corporate Development Committee
        
       
Quarterly retainer (except Chairman)
   $ 1,000  
       
Chairman’s 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 Company’s 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 Company’s 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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