Attached files
| file | filename |
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| EXCEL - IDEA: XBRL DOCUMENT - CHARLES & COLVARD LTD | Financial_Report.xls |
| EX-32.1 - EXHIBIT 32.1 - CHARLES & COLVARD LTD | ex32_1.htm |
| EX-23.1 - EXHIBIT 23.1 - CHARLES & COLVARD LTD | ex23_1.htm |
| EX-31.1 - EXHIBIT 31.1 - CHARLES & COLVARD LTD | ex31_1.htm |
| EX-32.2 - EXHIBIT 32.2 - CHARLES & COLVARD LTD | ex32_2.htm |
| EX-31.2 - EXHIBIT 31.2 - CHARLES & COLVARD LTD | ex31_2.htm |
| 10-K - CHARLES & COLVARD, LTD 10-K 12-31-2014 - CHARLES & COLVARD LTD | form10k.htm |
Exhibit 10.28
CHARLES & COLVARD, LTD.
BOARD OF DIRECTORS COMPENSATION PROGRAM
With Effect as of January 1, 2015
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Designated non-management members of the Board of Directors (the “Board”) of Charles & Colvard, Ltd. (the “Company”) shall be compensated as follows:
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Annual Retainer:
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$30,000 paid in four quarterly installments in arrears, pro-rated as applicable.
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Additional Annual Retainers:
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Executive Chairperson of the Board - $100,000 paid in four quarterly installments in arrears, pro-rated as applicable.
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Chairperson of the Audit Committee - $15,000 paid in four quarterly installments in arrears, pro-rated as applicable.
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Chairperson of Compensation Committee and Nominating and Governance Committee - $7,500 paid in four quarterly installments in arrears, pro-rated as applicable.
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Board Committee Members (excluding Committee Chairperson and Executive Chairperson of the Board) - $5,000 paid in four quarterly installments in arrears, pro-rated as applicable.
Members of the Board may only receive retainers for serving as a member of two board committees.
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Equity Compensation:
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Stock option grant upon appointment as a member of the Board by the Board to fill a vacancy in the Board, with a grant date value to be determined by the Board as appropriate considering the time remaining before re-election at the next annual shareholders meeting.
Stock option grant upon annual re-election as a director at the annual shareholders’ meeting with a grant date value of $50,000 for Directors and $55,000 for the Executive Chairperson (calculated using the Black-Scholes-Merton option pricing model).
Vesting of the stock option awards shall be contingent upon service on the Board of Directors until the next annual shareholders’ meeting following the grant.
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Attendance Participation Fee:
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None.
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Adopted February 5, 2015 and effective as of January 1, 2015