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Exhibit 10.52
SEPRACOR INC.
SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION
Sepracor Inc. (the
“Company”) does not pay directors who are also
employees of the Company any additional compensation for their
service as a director. The Company does pay its non-employee
directors for their service. The Company provides the following
equity-based and cash-based compensation to its non-employee
directors:
·
an option to purchase 20,000 shares
of common stock upon initial election to the board, such stock
option terminating on the earlier of ten years following the grant
date and one year after the director ceases to serve on the board,
and vesting as to 4,000 shares on the first anniversary of the
grant date and as to 20% of the shares annually
thereafter;
·
an option to purchase 10,000 shares
of common stock on the date of each annual meeting of stockholders
following which the director will continue to serve, assuming he or
she has been serving on the board for at least six months, such
stock option terminating on the earlier of ten years after the
grant date and one
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