INDEPENDENT DIRECTORS COMPENSATION Effective 1/1/03
Contract Categories:
Human Resources
- Compensation Agreements
EX-10.21 9 dex1021.htm SUMMARY OF COMPENSATION ARRANGEMENTS FOR INDEPENDENT DIRECTORS Summary of Compensation Arrangements for Independent Directors
Exhibit 10.21
INDEPENDENT DIRECTORS COMPENSATION
Effective 1/1/03
| Annual Retainer | $30,000 (paid $7,500 quarterly) | |
| Board Meeting Fee | $1,500 in person $500 by telephone | |
| Committee Meeting Attendance Fee | $1,000 in person on day other than same day as Board Meeting $500 by telephone on day other than same day as Board Meeting | |
| Annual Committee Chair Compensation | $5,000 $10,000 for Audit Chair | |
| Stock Options | 2,500 granted each quarter in advance (beginning with the second quarter of service), immediate vesting 50,000 granted at election, with strike price equal to the NASDAQ closing price on the effective date of Board service; vesting over three years (lst 1/3 vests at end of first year and quarterly thereafter) | |
| Expense Reimbursement | For Board and Committee meetings | |
