• | Annually (as of the date of the Annual Stockholder Meeting for that year), each person whose term on the Board of Directors extends for an additional year or who is expected to be nominated for re-election at such Annual Meeting of Stockholders, shall be awarded restricted stock units (RSUs) for shares of the Company’s common stock having a value of approximately $185,000 on the date of grant (based on the closing price of the Company’s common stock on the date of grant). Each RSU shall represent the right to receive one share of the Company’s common stock. The actual number of RSUs to be awarded shall be determined in increments of 100 RSUs such that the value of the Company’s common stock underlying the RSUs is as close to $185,000 as possible. |
• | The RSUs shall vest 100% on the first anniversary of the date of grant. |
• | An annual retainer of $65,000. |
• | An additional retainer of $65,000 for the Chairman of the Board. |
• | An additional retainer of $40,000 for the Chairman of the Audit Committee and an additional retainer of $15,000 for each other member of the Audit Committee. |
• | An additional retainer of $25,000 for the Chairman of the Compensation Committee and an additional retainer of $10,000 for each other member of the Compensation Committee. |
• | An additional retainer of $10,000 for the Chairman of the Nominating and Corporate Governance Committee and an additional retainer of $5,000 for each other member of the Nominating and Corporate Governance Committee. |