Common use of Board of Directors Fees Clause in Contracts

Board of Directors Fees. The Company will pay you fees for attending meetings of the Board (including Board Meetings) at a rate of $4,000 per in-person meeting of the Board, up to a maximum of $16,000 per calendar year. In addition, the Company will pay you $1,000 per day of any additional consulting work you provide to the Company and will pay or reimburse you for all reasonable business expenses incurred or paid by you in connection with your service as a member of the Board, subject, in both the case of the consulting fees and the expense reimbursements, to any maximum annual limit and other restrictions on such fees or expenses set by the Company and to such reasonable substantiation and documentation as the Company may specify from time to time.

Board of Directors Fees. The Company will pay you fees for attending meetings of the Board (including Board Meetings) at a rate of $4,000 per in-person meeting of the Board, up to a maximum of $16,000 per calendar year. In addition, the Company will pay you $1,000 1000 per day of any additional consulting work you provide to the Company and will pay or reimburse you for all reasonable business expenses incurred or paid by you in connection with your service as a member of the Board, subject, in both the case of the consulting fees and the expense reimbursements, subject to any maximum annual limit and other restrictions on such fees or expenses set by the Company and to such reasonable substantiation and documentation as the Company it may specify from time to time.