Annual Cash Retainer

Annual Cash Retainer

Each Outside Director shall be paid a cash retainer (“Annual Retainer”) each year consisting of a Base Fee and an additional amount(s) based on his/her committee assignment(s), as set forth in Paragraph 5, below. The Annual Retainer shall be paid in equal quarterly installments calculated starting from the date of the Company's Annual Meeting of Stockholders (“Annual Meeting”) at which the Outside Director is first elected to the Board. If the Outside Director is elected to the Board other than at an Annual Meeting, the Annual Retainer shall be paid on a pro rata basis from the date of such election until the date of the next Annual Meeting. Upon an Outside Director’s termination of membership on the Board, no further Annual Retainer payments shall be due.

Cash Compensation. The Company will pay you a starting salary at the rate of $450,000 per year, payable in accordance with the Company’s standard payroll schedule and subject to applicable deductions and withholdings. This salary will be subject to periodic review and adjustments at the Company’s discretion.

Cash Compensation. Your annualized base salary will be $420,000, less payroll deductions and all required tax withholdings, payable in accordance with the Company’s standard payroll schedule (“Base Salary”). Your Base Salary will also be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. In addition, you will be eligible to receive an annual bonus with a target bonus of 40% of your Base Salary (“Annual Bonus”), which shall be based on goal achievement during the applicable performance year, subject to approval of the Company’s Board of Directors. The goals for your first year of employment will be established by you and the Company’s Chief Executive Officer within 30 days following your start date. For calendar year 2020, you will be eligible to receive up to 50% of your Annual Bonus.

Annual Cash Retainer

Cash Compensation. The Company will pay you an annual base salary of $425,000 payable in accordance with the Company’s standard payroll schedule. Your pay will be periodically reviewed as a part of the Company’s regular reviews of compensation. You will be eligible to participate in the Company’s short term cash incentive bonus plans at a target of 75% of your annual base salary.

Board retainer: $45,000 per year for each non-employee director, paid in quarterly installments in arrears.

Cash Compensation. The Company shall pay to the Executive compensation for his/her services during the Contract Period as follows:

Cash Compensation. Each non-employee director of the Company will be entitled to receive annual cash retainers as follows: