Grants to Outside Directors. The grant date fair value of all Awards (as determined in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto) granted under the Plan to any Outside Director as compensation for services as an Outside Director during any calendar year (other than the calendar year in which an Outside Director commences service on the Board) may not exceed $750,000, provided that any Award granted to an Outside Director in lieu of a cash retainer and/or meeting fees pursuant to Section 15(b) will be excluded from such limit.
Grants to Outside Directors. The aggregate value of all compensation granted or paid, as applicable, to any Outside Director for service as an Outside Director during any twelve (12)-month period, including Awards granted and cash fees paid by the Company to such Outside Director, will not exceed $750,000 in total value, and with respect to the twelve (12)-month period in which an Outside Director is first appointed or elected to the Board, will not exceed $1,000,000 in total value, in each case calculating the value of any Awards based on the grant date fair value of such Awards as determined in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718, or any successor thereto.
