Attached files
file | filename |
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10-K - FORM 10-K - JONES SODA CO | v55371e10vk.htm |
EX-32.2 - EX-32.2 - JONES SODA CO | v55371exv32w2.htm |
EX-31.1 - EX-31.1 - JONES SODA CO | v55371exv31w1.htm |
EX-23.1 - EX-23.1 - JONES SODA CO | v55371exv23w1.htm |
EX-31.2 - EX-31.2 - JONES SODA CO | v55371exv31w2.htm |
EX-32.1 - EX-32.1 - JONES SODA CO | v55371exv32w1.htm |
Exhibit 10.15
SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION
Effective March 3, 2009, except as otherwise disclosed by the Company, non-employee directors
receive the following compensation for their service on the Board of Directors and committees of
the Board of Directors:
Cash Compensation
Position | Amount | |||
Non-employee (NE) Director Annual Retainer |
$ | 12,000 | ||
NE Director Board Meeting Attendance Fee (Telephonic) |
$ | 1,000 | ($500) | |
NE Director Committee Meeting Attendance Fee |
$ | 500 | ||
NE Director Audit Committee Meeting Attendance |
$ | 1,000 | ||
Chair of Audit Committee Annual Retainer |
$ | 3,500 | ||
Chair of Compensation Committee Annual Retainer |
$ | 2,000 | ||
Chair of Nomination Committee Annual Retainer |
$ | 2,000 |
Stock options
Each non-employee director receives an annual stock option grant of 20,000 shares of common
stock, with an exercise price equal to the fair market value of the common stock on the date of
grant and a term of ten years, or an equivalent grant of shares of restricted stock. Effective
March 3, 2009, the Board adopted a new vesting schedule for option awards and restricted stock
grants, with the grants to vest in full one year from the date of grant. Stock options awarded
prior to March 3, 2009 vested over a period of 42 months, with 14.29% vesting on each 6-month
anniversary of the grant date.
Expense reimbursement
Non-employee directors are reimbursed for travel, meals and accommodation expenses incurred for
attending any Board meetings.