Exhibit 10.1

Neah Power Systems, Inc.

Board Cash Compensation

Retainer

$

10,000

 

 

 

Board Meetings

 

 

Chairman

$

15,000

Member

 

8,000

 

 

 

Audit Committee

 

 

Chairman

$

6,000

Member

 

2,500

 

 

 

Compensation Committee

 

 

Chairman

$

2,500

Member

 

1,500

 

 

 

Governance Committee

 

 

Chairman

$

1,500

Member

 

400

 

 

 

Governance Committee

 

 

Member

$

400

Cash compensation will accrue from the date the member joined the Board of
Directors, but no earlier than June 1, 2009. Compensation will be pro-rated
based on attendance at Board and committee meetings.

Cash Compensation is conditional upon the Company receiving cash of at least
$1,500,000 either by direct outside investment from sales or licensing revenues.

 

1

 

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