Summary of Director Compensation
EX-10.2 2 wstl-ex102x20200930.htm EX-10.2 Document
WESTELL TECHNOLOGIES, INC.
SUMMARY OF DIRECTOR COMPENSATION
The quarterly retainer for all non-employee directors is $7,500. There is not separate compensation for meeting attendance or for chairpersons, including the Chairman of the Board, or members of committees. In addition, all directors may be reimbursed for certain expenses incurred in connection with attendance at Board and committee meetings. Directors who are employees of the Company do not receive additional compensation for service as directors. In addition, non-employee directors are eligible to receive awards under the 2019 Omnibus Incentive Compensation Plan. On a director’s initial appointment date, non-employee directors are each granted 2,500 restricted shares with an annual grant thereafter based on a target grant date value of $5,000 to be granted upon election to the Board of Directors at the Annual Meeting of Stockholders, with the award vesting on the first anniversary date of the grant.