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Non-Employee Director
Compensation Policy
(effective as of September 2, 2008)
1. Fiscal
Year 2009 Cash Compensation .
Board : The annual cash retainer for each director is
$25,000, paid quarterly.
Audit
Committee : The Audit
Committee chair will receive an additional annual cash retainer of
$20,000, paid quarterly, and other Audit Committee members will
receive an additional annual cash retainer of $10,000, paid
quarterly.
2. Fiscal
Year 2009 Equity Compensation .
Current
Directors : On the date
of the FY 2008 annual meeting of stockholders, each continuing
director will be granted an annual option grant to purchase 15,000
shares of common stock (the “Annual Continuing Director
Option Grant”) which will cliff vest as of the
Company’s 2009 annual meeting of stockholders.
Non-Executive Chair : In addition to the Annual Continuing Director
Option Grant, the non-executive Chair shall receive an additional
option to purchase 15,000 shares of common stock, granted on the
same date as the Annual Continuing Director Option Grant, which
will cliff vest as of the Company’s 2009 annual meeting of
stockholders.
3.
Compensation in Subsequent Fiscal Years .
Annual Cash
Compensation for Continuing Directors : It
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