Document:

exv10w33

 

Exhibit 10.33

VOLCANO CORPORATION

DIRECTOR COMPENSATION POLICY

ADOPTED: February 17, 2006

A.     Directors. All
non-employee members of the board of directors (the “Board”) of Volcano
Corporation (the “Company”) shall receive the following compensation pursuant to this Director
Compensation Policy (this “Policy”):

	     1)	 	Annual cash compensation in an amount equal to $24,000, accruing monthly and
payable on a quarterly basis at the end of each calendar quarter of service, as an
annual retainer for Board service;

	     2)	 	Cash compensation of $500 for each day during which a Board member attends in
person a meeting of the Board provided that the Company is then a public company, plus
reasonable out-of-pocket travel expenses, to cover in person attendance at and
participation in Board meetings;

	     3)	 	Subject to the terms and conditions of the Company’s 2005 Equity Compensation
Plan, a stock option to purchase 20,000 shares of the Company’s Common Stock (the
“Common Stock”) will be granted to each eligible director upon his or her initial
election or appointment to the Board, which will vest as follows: 1/48th
per month commencing on the date of election or appointment; provided, however,
that all vesting will cease if the director resigns from the Board or otherwise ceases
to serve as director, unless the Board determines that the circumstances warrant
continuation of vesting;

	     4)	 	Subject to the terms and conditions of the Company’s 2005 Equity Compensation
Plan, at each annual meeting of stockholders, a stock option to purchase 8,000 shares
of Common Stock will be granted to each director who has been serving as a director of
the Company for at least six months, which grant will vest as follows: 1/12th
per month commencing on the date of grant; provided, however, that all vesting
will cease if the director resigns from the Board or otherwise ceases to serve as
director, unless the Board determines that the circumstances warrant continuation of
vesting.

 

 

Volcano Corporation

Director Compensation Policy

Adopted: February 17, 2006

B.     Audit Committee. In addition to the compensation provided under any other provision of
this Policy, all non-employee directors who serve on the Audit Committee will receive the following
compensation:

	     1)	 	Cash compensation of in an annual amount equal to $3,000, payable on a
quarterly basis at the end of each calendar quarter of service, as a retainer for
Audit Committee service;

	     2)	 	In lieu of the cash compensation set forth in Section B(1) immediately above,
the Chairman of the Audit Committee shall receive an annual payment in an amount equal
to $6,000, payable on a quarterly basis at the end of each calendar quarter of
service, as a retainer for his or her Audit Committee service.

C.     Compensation Committee. In addition to the compensation provided under any other
provision of this Policy, all non-employee directors who serve on the Compensation Committee will
receive the following compensation:

	     1)	 	Cash compensation in an annual amount equal to $1,000, payable on a quarterly
basis at the end of each calendar quarter of service, as a retainer for Compensation
Committee service;

	     2)	 	In lieu of the cash compensation set forth in Section C(1) immediately above,
the Chairman of the Compensation Committee shall receive an annual payment in an
amount equal to $3,000, payable on a quarterly basis at the end of each calendar
quarter of service, as a retainer for his or her Compensation Committee service.

D.     Corporate Governance Committee. In addition to the compensation provided under any other
provision of this Policy, all non-employee directors who serve on the Corporate Governance
Committee will receive the following compensation:

	     1)	 	Cash compensation in an annual amount equal to $1,000, payable on a quarterly
basis at the end of each calendar quarter of service, as a retainer for Corporate
Governance Committee service;

	     2)	 	In lieu of the cash compensation set forth in Section C(1) immediately above,
the Chairman of the Corporate Governance Committee shall receive an annual payment in
an amount equal to $3,000, payable on a quarterly basis at the end of each calendar
quarter of service, as a retainer for his or her Corporate Governance Committee
service.

-2-

 

Volcano Corporation

Director Compensation Policy

Adopted: February 17, 2006

E.     Payment/Grant Procedure. All cash compensation payments made pursuant to this Policy
shall be paid quarterly in arrears as soon as practicable, but not later than 10 business days,
after the last day of such quarter.

All stock options awarded pursuant to this Policy (other than options granted pursuant to Section
A(3)) shall be granted on the date of the annual meeting of the Board, and the exercise price for
each share available under such option will be equal to the fair market value of the Common Stock,
on the date of such grant. All stock options awarded pursuant to Section A(3) of this Policy shall
be granted as of the date of the applicable election or appointment, and the exercise price for
each share available under such option will be equal to the fair market value of the Common Stock,
on the date of such grant.

F.     Effective Date. This Policy shall become effective immediately, and without any further
action needed on the part of the Board or Compensation Committee, upon the closing of initial
public offering of equity securities by the Company.

G.     Change in Control Provisions. Notwithstanding the foregoing, all options granted under
this Policy shall vest immediately if (i) there is a Change of Control (as defined in the Company’s
2005 Equity Compensation Plan); and (ii) the optionee will cease to serve as a director of the
Company (or as a director of the successor corporation) as a result of such Change in Control.

H.     Referenced Documents.

Section A(3)2005 Equity Compensation Plan

-3-exv10w1

 

EXHIBIT 10.1

LIBERTY GLOBAL, INC.

COMPENSATION POLICY

FOR

NONEMPLOYEE DIRECTORS

(As Amended and Restated Effective June 7, 2006)

     The board of directors (the “Board”) of Liberty Global, Inc. (the “Corporation”) has deemed it
advisable and in the best interest of the Corporation to provide the following compensation package
to each director of the Corporation who is not an employee of the Corporation or any subsidiary of
the Corporation (a “Nonemployee Director”) solely in consideration for such person agreeing to
serve as a Nonemployee Director of the Board.

     Annual Fees: For each full year of service as a Nonemployee Director, a fee for such
service of $20,000 will be paid to each Nonemployee Director. For each full year of service as
Chairperson of the Audit Committee, the Compensation Committee or the Nominating and Corporate
Governance Committee, a fee for such service of $25,000, $5,000 and $5,000, respectively, will be
paid. Annual fees will be payable in arrears in four equal quarterly installments at the end of
each calendar quarter (prorated in the case of a director who serves as a Nonemployee Director or
as Chairperson of a Committee for only a portion of a calendar quarter) in (i) cash or (ii) subject
to the terms and conditions set forth in the Liberty Global, Inc. 2005 Nonemployee Director
Incentive Plan (As Amended and Restated Effective March 8, 2006) (the “Director Plan”), shares of
the Corporation’s common stock.

     Meeting Fees: A fee of $1,500 for attendance (in person or by conference telephone) at
each in person meeting, and $750 for each telephonic meeting, of the Board or a Board Committee of
which such director is a member will be paid to each Nonemployee Director. Meeting fees will be
payable in arrears at the end of each calendar quarter in cash only. For Nonemployee Directors
whose residence is located outside of the United States, an additional fee of $10,000 will be paid,
and for Nonemployee Directors whose residence is located east of the Mississippi River in the
United States, an additional fee of $4,000 will be paid, for each in person meeting of the Board
held at the Corporation’s offices in Colorado that is attended in person by such Nonemployee
Director.

     Initial Option Grant: An initial grant of options to purchase 10,000 shares of
the Corporation’s Series A common stock (“Series A Stock”) and 10,000 shares of the Corporation’s
Series C common stock (“Series C Stock”) will be made to each Nonemployee Director, pursuant to the
Director Plan and the related form of Nonemployee Director Non-Qualified Stock Option Agreement, on
first being elected or appointed to the Board. Each Series A option subject to the grant will have
an exercise price per share equal to the Fair Market Value (as defined in the Director Plan) of a
share of Series A Stock, and each Series C option subject to the grant will have an exercise price
per share equal to the Fair Market Value of a share of the Corporation’s Series C Stock, in each
case, on the date of the grant.

 

 

     Annual Equity Grant: On the date of each annual meeting of the stockholders of the
Corporation, each Nonemployee Director who served as a Nonemployee Director immediately prior to
such annual meeting of stockholders and will continue to serve as a Nonemployee Director following
such annual meeting will be granted, at such Nonemployee Director’s election, either (a) options to
purchase 10,000 shares of Series A Stock and 10,000 shares of Series C Stock or (b) options to
purchase 5,000 shares of Series A Stock and 5,000 shares of Series C Stock, a number of restricted
shares of Series A Stock (rounded up to the next higher whole share amount in the case of
fractional shares) with an aggregate Fair Market Value on the date of such annual meeting equal to
the total Option Value of the 5,000 Series A options, and a number of restricted shares of Series C
Stock (rounded up to the next higher whole share amount in the case of fractional shares) with an
aggregate Fair Market Value on the date of such annual meeting equal to the total Option Value of
the 5,000 Series C options. Each Series A option subject to the annual grant will have an exercise
price per share equal to the Fair Market Value of a share of Series A Stock, and each Series C
option subject to the annual grant will have an exercise price per share equal to the Fair Market
Value of a share of Series C Stock, in each case on the date of such annual meeting of
stockholders. The Option Value of each Series A option and Series C option will be determined as
of the date of the applicable annual stockholders meeting using the same valuation methodology as
the Corporation uses to determine the value of other option grants for financial statement
reporting purposes in accordance with Statement of Financial Accounting Standards (SFAS) No. 123(R)
(revised 2004) or any other then applicable accounting standard. A Nonemployee Director’s election
to receive stock options or a combination of stock options and restricted shares shall be made by
notifying the Corporation of such election by no later than the second business day preceding the
date of the applicable annual stockholders meeting. If a Nonemployee Director fails to make a
timely election with respect to any annual grant, he or she will be deemed to have elected to
receive the combination of options and restricted stock.

     Vesting: Options will vest as to one-third of the option shares on the date of the
first annual meeting of stockholders following the grant date (or, if later, the six-month
anniversary of the grant date) and as to an additional one-third of the option shares on the date
of each annual meeting of stockholders thereafter, provided, in each case, that the Nonemployee
Director continued to serve as a Nonemployee Director immediately prior to the applicable meeting.
Restricted shares will vest in full on the date of the first annual meeting of stockholders
following the grant date, provided that the Nonemployee Director continued to serve as a
Nonemployee Director immediately prior to such meeting. Notwithstanding the foregoing, if a
Nonemployee Director’s service as a Nonemployee Director terminates by reason of Disability (as
defined in the Director Plan) or a Nonemployee Director dies while serving as a Nonemployee
Director, all then outstanding options and restricted shares held by such Nonemployee Director will
vest and become exercisable in full on the date of such termination of service.

     Award Agreement: Each equity award pursuant to this policy will be evidenced by and
subject to the terms, conditions and limitations of, the Corporation’s then standard award
agreement, which shall be consistent with the terms and conditions described above and of the
Director Plan.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00105-of-00352.parquet"}]]