Vertex Pharmaceuticals Non-Employee Board Member Compensation Policy

Summary

This document outlines the compensation policy for non-employee members of the Vertex Pharmaceuticals Board of Directors. It specifies annual retainers, meeting fees for both in-person and telephonic participation, additional compensation for committee chairs, and details on equity grants, including stock options awarded upon joining the board and annually thereafter. The policy ensures board members are compensated for their service and participation, with specific amounts and vesting schedules for equity awards.

EX-10.43 3 a07-3650_1ex10d43.htm EX-10.43

 

Exhibit 10.43

Vertex Pharmaceuticals Non-Employee Board Compensation

Annual Retainer:

 

$25,000

 

 

 

Board Meeting Fees

 

 

In-Person Board Meetings

 

$2,500

Telephonic Board Meetings

 

$1,250 (none for meetings called for less than 30 minutes)

 

 

 

Committee Meeting Fees

 

 

In-Person on Regular Board Meeting Day

 

$500

In-Person Meeting held on Day other than regular

 

$1,000

Board Meeting Day

 

 

Telephone Meeting

 

$375

 

 

 

Committee Chair Compensation

 

 

 

 

 

Audit Chair

 

$20,000 annual retainer

 

 

 

Corporate Governance & Nominating

 

$20,000 annual retainer

Committee Chair

 

 

 

 

 

Management Development & Compensation Committee Chair

 

$14,000 annual retainer

 

 

 

Equity Grants

 

Upon first election to the Board, 30,000 options, vesting quarterly over four years; and

 

 

On June 1 of each year in service, 20,000 fully vested options

 

 

On date of Annual Meeting, Chairman of Board, 20,000 fully vested options