**Exhibit10.1**

**Spherix Incorporated**

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**SUMMARYOF ANNUAL COMPENSATION OF MEMBERS OF**

**THEBOARD OF DIRECTORS OF SPHERIX INCORPORATED**

Non-employeedirectors of Spherix Incorporated (“Spherix”) receive the following annualcompensation for service as a member of Spherix:

 
| Annual Retainer        |   | $ | 5,000  |   | To be paid in cash at the first meeting of the term.                                                                                                                                                                                                                                                                                                                                           |
|------------------------|--------|---|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Stock Awards           |   | $ | 10,000 |   | To be calculated by dividing $10,000 by the closing  stock price the day the Stock Awards are granted. The shares will be granted  upon approval of the Board; however, the shares will be restricted and  instructions will be given to the stock transfer agent that the shares may  not be transferred until the one year anniversary of the Board Member’s  departure from the Board. |
| Board Meeting Fees     |   | $ | 2,500  |   | To be paid for all in-person Board Meetings. Members  must be present to be paid.                                                                                                                                                                                                                                                                                                              |
| Committee Meeting Fees |   | $ | 800    |   | To be paid for all in-person Committee Meetings.  Members must be present to be paid.                                                                                                                                                                                                                                                                                                          |
| Teleconference Fees    |   | $ | 300    |   | To be paid for all teleconferences called by either  the Chairman of the Board, the President, or by the Chairman of the relevant  Committee. Members must be on-line to be paid.                                                                                                                                                                                                              |
| Additional Retainer    |   | $ | 1,000  |   | To be paid to the Chairman of the Audit Committee.                                                                                                                                                                                                                                                                                                                                             |

 

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