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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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