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This excerpt taken from the XIDE DEF 14A filed Jul 27, 2006. Board of
Directors Compensation
Each non-employee director receives an annual retainer of
$40,000 payable prospectively in quarterly cash installments.
Additionally, the Chairman of the Board of Directors receives an
annual retainer of $50,000 payable prospectively in quarterly
installments. The Chairman of the Audit Committee receives an
additional annual retainer of $15,000, the Chairmen of the
Compensation Committee and the Finance Committee each receive
annual retainers of $10,000 and the Chairman of the Nominating
and Corporate Governance Committee receives an annual retainer
of $3,000, each paid prospectively in quarterly installments.
Each member of our Board of Directors also receives $2,000 for
each board or committee meeting attended in person and $1,000
for each board or committee meeting attended telephonically.
Each non-employee director receives an annual grant of options
and restricted shares each equal to $20,000, based on the
average of the high and low trading prices of our stock averaged
over the ten trading days prior to the date of grant. These
options and restricted shares have a one-year vesting period. On
October 14, 2005 each of the directors was awarded options
to purchase 5,673 shares of common stock at $4.955 per
share and 4,036 restricted shares.
Directors who are also employees of our company receive no
additional compensation for service as a director. Additionally,
we do not provide retirement benefits to non-employee directors
under any current program.
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