This excerpt taken from the CMTL DEF 14A filed Nov 2, 2005.
COMPENSATION OF DIRECTORS
Each Director who is not an employee of the Company receives an annual retainer of $35,000. Under the Companys 2000 Stock Incentive Plan, each director who is not an employee of the Company receives an option grant to purchase: (i) 4,500 shares of Common Stock as of the date the director begins service on the Board and (ii) 12,500 shares of Common Stock on each August 1st. The exercise price of all such options is equal to the stock's fair market value on the date of grant.