Attached files
file | filename |
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EXCEL - IDEA: XBRL DOCUMENT - TENAX THERAPEUTICS, INC. | Financial_Report.xls |
EX-32.1 - CERTIFICATION - TENAX THERAPEUTICS, INC. | oxbt_ex321.htm |
EX-31.1 - CERTIFICATION - TENAX THERAPEUTICS, INC. | oxbt_ex311.htm |
10-Q - QUARTERLY REPORT - TENAX THERAPEUTICS, INC. | oxbt_10q.htm |
Exhibit 10.9
DESCRIPTION OF NON-EMPLOYEE DIRECTOR COMPENSATION
Oxygen Biotherapeutics, Inc. (the “Company”) shall pay to its non-employee directors the following compensation for service on the Board and Board Committees:
1.
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An annual director fee in each fiscal year of $45,000 ($65,000 for our lead independent director), which is paid in equal monthly installments in arrears on the last day of each month;
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2.
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A fee for attending each meeting of the Board in the amount of $4,000;
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3.
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A fee for attending each committee meeting of which the Director is a member in the amount of $500; and
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4.
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Reimbursement of travel and related expenses for attending Board and Committee meetings, as incurred.
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The Company shall maintain an appropriate director’s and officer’s insurance policy at all times for its non-employee directors.
The fees paid to the Company’s non-employee directors will be paid 50% in cash and 50% in restricted stock vesting 25% per quarter.