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AMENDED AND RESTATED NON-EMPLOYEE
DIRECTOR COMPENSATION POLICY
The
Compensation Committee of the Board of Directors of Majesco
Entertainment Company has recommended, and the Board of Directors
has approved and adopted on July 31, 2008, this Amended and
Restated Non-Employee Director Compensation Policy (the
“Policy”).
Majesco
Entertainment Company’s director compensation arrangements
for its non-employee directors are as follows:
Each director
receives an annual cash retainer of $40,000.
The Chair of
the Audit Committee receives an additional annual cash retainer of
$10,000.
The Chairman of
the Board receives an additional annual cash retainer of
$50,000.
The cash
retainer is paid in equal quarterly installments at the beginning
of each fiscal quarter.
In addition to
the annual cash retainer, directors receive annual equity grants
valued at the following amounts:
Audit Committee
Chair: $60,000
Compensation Committee Chair: $60,000
Nominating and Governance Committee Chair: $50,000
Directors who do not serve as one of the Chairs listed above:
$40,000
In addition to the above, the Chairman of the Board:
$80,000
The equity
grants are made pursuant to the 2004 Employee, Director and
Consultant Incentive Plan (the “Plan”) and are a mix of
2/3 restricted stock and 1/3 options to pu
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