Exhibit 10.19
CELL THERAPEUTICS,
INC.
REVISED DIRECTOR COMPENSATION
POLICY
Effective January 1,
2009
Non-employee directors of Cell
Therapeutics, Inc., a Washington corporation (the
“Company”) shall be entitled to the compensation set
forth below for their service as a member of the Board of Directors
(the “Board”) of the Company. This policy supersedes
all prior policies or provisions of any equity plans concerning
compensation of the Company’s non-employee directors, except
that any prior equity awards previously earned by a director, but
which have not yet been granted, remain valid.
Cash
Compensation
Annual Retainer for Board
Service
Effective January 1, 2009, each
non-employee director shall be entitled to an annual cash retainer
in the amount of $25,000 (the “Annual Retainer”). The
Company shall pay the Annual Retainer on a semi-annual basis paid,
with half of the Annual Retainer to paid on each of the first
business day of January and July.
Annual Retainer for Chairman
of the Board Service
Effective January 1, 2009, a
non-employee director who serves as the Chair of the Board shall be
entitled to an annual cash retainer in the amount of $52,500 (the
“Chair of the Board Retainer”). The Company shall pay
the Chair of the Board Retainer on a semi-annual basis, with half
of the Annual Retainer to paid on each of the first business day of
January and July.
Board Committee Chair
Retainer
Effective January 1, 2009, a
non-employee director who serves as the Chair of the Audit,
Compensation or Nominating and Corporate Governance committee of
the Board shall be entitled to an annual cash retainer in the
amount of $10,000 (the “Chair Retainer”). The Company
shall pay the Chair Retainer on a semi-annual basis, with half of
the Annual Retainer to paid on each of the first business day of
January and July.
Board Meeting Attendance
Fee
Commencing April 1, 2007, a
non-employee director who attends a Board meeting, whether in
person or telephonic and regardless of length, will be entitled to
a fee in the amount of $2,000 (“Board Meeting Fee”) for
each meeting. The Company shall pay the Board Meeting Fee on a
quarterly basis in arrears.
Board Committee Meeting
Attendance Fee
Commencing April 1, 2007, a
non-employee director who attends a committee
