Annual Cash Retainer. Commencing on the Appointment Date you shall receive cash compensation of $48,000 annually (the “Retainer”). If you serve as Chair of the Board’s Audit Committee, you shall receive an additional cash retainer of $12,000 annually for such service. The Retainer will be paid in four (4) equal quarterly payments at the end of each calendar quarter in arrears. The quarterly payment will be pro-rated if you are first appointed during the calendar quarter or ceases to serve on the Board or a committee during the calendar quarter, with the payment pro-rated based on the number of actual days served by you during such calendar quarter.
Annual Cash Retainer. For so long as you serve as a Chairman, you shall be paid a nonrefundable annual cash stipend of $50,000, payable in a lump sum in advance on the date hereof and on each anniversary of the date hereof. In addition, you will be paid a cash fee of $2,500 for each regularly scheduled Board meeting with a scheduled duration of less than a full day that you attend in person, $500 for each Board meeting that you attend by telephone which lasts 60 minutes (or longer) or $3,000 for each meeting of the Board which is scheduled for a full day session (or longer) that you attend in person.
Annual Cash Retainer. Commencing on the Effective Date, you shall receive cash compensation of $12,000 for each calendar year of service under this Agreement on a pro-rated basis, payable in arrears on a monthly basis, with the initial payment due November 31, 2024.
Annual Cash Retainer. Beginning upon the consummation of the Company’s initial public offering (the “IPO”), for so long as you serve as a member of the Board, you shall be paid a nonrefundable annual cash stipend of $35,000, payable quarterly following receipt of an invoice by Company, with the first payment of $8,750 due to you within 30 days of the closing of the IPO and subsequent payments of $8,750 due every three months thereafter during your service as a member of the Board.
Annual Cash Retainer. Commencing on the Effective Date, you shall receive the same compensation payable to all other independent directors serving on the Board, which is currently (i) cash compensation of US$50,000 for each calendar year of service as a member of the Board and (ii) cash compensation of $10,000 for each calendar year of service as a member of each committee of the Board that you serve, which will be paid on a pro-rated basis for any calendar year in which you do not serve for the entire year, payable in arrears on a monthly basis, with the initial payment due January 1st, 2025, and which compensation payable to all independent directors may be adjusted from time to time by the Board.
Annual Cash Retainer. During the Term, Txxxxxxxxxx shall be entitled to receive an annual director’s fee of $600,000 for services as Chairman, which shall be paid quarterly, in advance in cash in accordance with the Company’s normal practice for non-employee directors in effect from time to time (the “Annual Cash Retainer”).
