Item 8.01. Other Events.
On
Pursuant to the Amended Plan, outside directors will be paid the following annual retainers:
·$25,000 for service as a member of the board of directors; ·$25,000 for service as chair of the board of directors; and ·$5,000 for service as a committee chair.
The retainers will be paid in quarterly installments in either cash, shares of
common stock, or options, as directed by each director based on an annual
election. In addition, each director will continue to receive an annual service
equity award of
The options or shares to be issued under the Amended Plan will be issued
quarterly on the last business day of the quarter and will be priced based on
the penultimate day of each fiscal quarter. Unlike in the Original Plan, the
options and shares will be subject to a
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