OMRI » Topics » DIRECTOR COMPENSATION

This excerpt taken from the OMRI DEF 14A filed Apr 16, 2008.
DIRECTOR COMPENSATION
 
Members of the Board who receive compensation as officers or employees of our company do not receive any compensation for serving on the Board or any committee of the Board. Our current Chairman of the Board, Fredric D. Price, did not receive compensation for serving on any committee of the Board. Other members of the Board receive the following director’s compensation:
 
  •  an annual retainer of $30,000;
 
  •  an additional retainer of $7,500 per year to each member of our audit committee who is not the chair of the committee;
 
  •  an additional retainer of $7,500 to each member of our compensation committee who is not the chair of such committee;


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  •  an additional retainer of $5,000 to each member of our governance and nominating committee who is not the chair of the committee;
 
  •  an additional retainer of $15,000 per year to the chair of our audit committee;
 
  •  an additional retainer of $15,000 per year to the chairman of our compensation committee;
 
  •  an additional retainer of $10,000 per year to the chair of our governance and nominating committee (provided, that so long as Mr. Price was chair of our governance and nominating committee and Chairman of the Board, he did not receive such retainer);
 
  •  an additional retainer of $10,000 per year to the chair of our science committee; and
 
  •  equity compensation.
 
All members of the Board are reimbursed for reasonable travel and lodging expenses in connection with attending Board and committee meetings. Each current and any newly appointed non-employee director is granted stock options to purchase 20,000 shares of common stock and 2,000 shares of restricted stock for his or her service on our Board.
 
This excerpt taken from the OMRI DEF 14A filed Apr 23, 2007.
DIRECTOR COMPENSATION
 
Members of the Board who receive compensation as officers or employees of our company do not receive any compensation for serving on the Board or any committee of the Board. In addition, our current Chairman of the Board, Fredric D. Price, does not receive compensation for serving on any committee of the Board. Other members of the Board receive the following director’s compensation:
 
  •  an annual retainer of $30,000;
 
  •  an additional retainer of $7,500 per year to each member of our audit committee who is not the chair of the committee;
 
  •  an additional retainer of $7,500 to each member of our compensation committee who is not the chair of such committee;
 
  •  an additional retainer of $5,000 to each member of our governance and nominating committee who is not the chair of the committee;
 
  •  an additional retainer of $15,000 per year to the chair of our audit committee;
 
  •  an additional retainer of $15,000 per year to the chairman of our compensation committee;
 
  •  an additional retainer of $10,000 per year to the chair of our governance and nominating committee (provided that so long as Mr. Price is chair of our governance and nominating committee and Chairman of the Board, he will not receive such retainer);
 
  •  an additional retainer of $10,000 per year to the chair of our science committee; and
 
  •  equity compensation.
 
All members of the Board are reimbursed for reasonable travel and lodging expenses in connection with attending Board of Directors and committee meetings. In addition, each of our non-employee directors is eligible to participate in our equity incentive plan and was previously granted stock options to purchase 11,000 shares of common stock for his service on our Board. Effective as of the date of the Meeting, each current and any newly appointed non-employee director will be granted stock options to purchase 20,000 shares of common stock and 2,000 shares of restricted stock for his or her service on our board of directors.
 
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