Non-Employee Director Compensation Policy
This document outlines the compensation structure for non-employee directors of the company. Non-employee directors receive an annual retainer of $40,000, with additional annual retainers for serving on the Audit, Compensation, and Corporate Governance and Nominating Committees. Chairpersons of these committees receive higher retainers in lieu of the standard committee member amounts. No extra compensation is provided for actions taken by unanimous written consent. The policy sets clear payment terms for board and committee service.
Exhibit 10.14
Board Compensation
All non-employee directors will receive a $40,000 annual retainer. Each member of the Audit Committee, other than the Chairperson, will receive a $10,000 annual retainer. Each member of the Compensation Committee, other than the Chairperson, will receive a $6,000 annual retainer. Each member of the Corporate Governance and Nominating Committee, other than the Chairperson, will receive a $4,000 annual retainer. In addition to the annual Board retainer, the Chairperson of the Board will receive a $40,000 annual retainer. In lieu of the annual Audit Committee retainer, the Chairperson of the Audit Committee will receive a $20,000 annual retainer; in lieu of the annual Compensation Committee retainer, the Chairperson of the Compensation Committee will receive a $12,000 annual retainer; and in lieu of the Corporate Governance and Nominating Committee retainer, the Chairperson of the Corporate Governance and Nominating Committee will receive an $8,000 annual retainer. Non-employee directors do not receive any additional compensation for actions by unanimous written consent of the Board or any of the committees.
