Document:

Description of Non-Employee Director Compensation

 Exhibit 10.1 
  
 Summary of Non-Employee Director Compensation 
  
 The cash compensation of non-employee directors of WMS Industries for calendar year 2006 remains unchanged from calendar year 2005,
specifically: 
  

			
	 Board of Directors Annual Retainer:
	  	Chairman = $500,000
	 	  	Members = $30,000
		
	 Committee Annual Retainers:
	  	 
	 Audit and Ethics Committee
	  	Chairman = $30,000
	 	  	Members = $25,000
		
	 Compensation Committee
	  	Chairman = $10,000
	 	  	Members = $5,000
		
	 Nominating and Corporate Governance Committee
	  	Chairman = $7,500
	 	  	Members = $5,000
		
	 Gaming Compliance Committee
	  	Member = $10,000Executive Compensation Arrangements

 Exhibit 10.2 
  
 Executive Compensation Arrangements 
  
 In December 2005, the Compensation Committee of the Board of Directors of WMS Industries Inc. (the “Company”) and the independent
members of the Board of Directors of the Company approved the following base salaries to be paid for calendar year 2006 effective December 26, 2005, to the individuals listed below who were listed as “named executive officers” in the
Company’s proxy statement for the 2005 annual meeting of stockholders: 
  

						
	 Name

	  	 Title

	  	2006 Salary

	Brian R. Gamache	  	President and Chief Executive Officer	  	$	775,000
	Orrin J. Edidin	  	Executive Vice President and Chief Operating Officer	  	$	490,000
	Scott D. Schweinfurth	  	Executive Vice President and Chief Financial Officer	  	$	450,000
	Seamus McGill	  	Executive Vice President and Managing Director of International Operations of
WMS Gaming Inc.	  	$	385,000
	Kathleen J. McJohn	  	Vice President, General Counsel and Secretary	  	$	310,000Restricted Stock Agreement

 Exhibit 10.1 
  
 ARIBA, INC. 1999 EQUITY INCENTIVE PLAN:

  
 NOTICE OF
RESTRICTED STOCK AWARD 
 (ANNUAL GRANTS TO
NON-EMPLOYEE DIRECTORS) 
  
 You have been granted restricted shares of Common Stock of Ariba, Inc. (the “Company”) on the following terms: 
  

			
	 Name of Recipient:
	  	 «Name»

		
	 Total Number of Shares Granted:
	  	 «Total Shares»

		
	 Grant Number:
	  	 «Number»

		
	 Date of Grant:
	  	 «Date Grant»

  
 By accepting this grant, you agree
as follows: 
  

	1.	This grant is made under and governed by the Ariba, Inc. 1999 Equity Incentive Plan (the “Plan”) and the Restricted Stock Agreement. Both of these documents are
available on the Company’s internal web site at http://web.ariba.com/stock. 

  

	2.	The Company may deliver by email all documents relating to the Plan or this grant (including, without limitation, prospectuses required by the Securities and Exchange Commission)
and all other documents that the Company is required to deliver to its security holders (including, without limitation, annual reports and proxy statements). The Company may also deliver these documents by posting them on a web site maintained by
the Company or by a third party under contract with the Company. The “Ariba, Inc. 1999 Equity Incentive Plan—Summary and Prospectus” is available on the Company’s internal web site at http://web.ariba.com/stock. If, in the
future, the Company posts documents required by law on a web site, it will notify you by email. 

  

	3.	You have read the Company’s Securities Trading Policy, and you agree to comply with that policy (as it may be amended from time to time) whenever you acquire or dispose of the
Company’s securities. The Company’s Securities Trading Policy is available on the Company’s internal web site at http://web.ariba.com/stock. 

 ARIBA, INC. 1999 EQUITY INCENTIVE
PLAN: 
  
 RESTRICTED
STOCK AGREEMENT 
  

			
		
	Payment for Shares	  	No cash payment is required for the shares of the Company’s Common Stock that you are receiving.
		
	Vesting	  	 All of the shares that you are receiving will vest on the first Permissible Trading Day that coincides with or follows the date on which you complete
the first 12 months of continuous service as a member of the Company’s Board of Directors (“Service”) after the Date of Grant. No shares will vest after your Service has terminated for any reason.
  
 All of the shares that you are receiving will vest immediately if the Company is subject to
a “Change in Control” (as defined in the Plan) before your Service terminates.
  
 In addition, the Compensation Committee of the Company’s Board of Directors, at its discretion, may accelerate the vesting of your shares if your Service terminates.
  
 “Permissible Trading Day” means a day that satisfies each of the following
requirements:
  
 •      The Nasdaq National Market is open for trading on that day,
  
 •      You are permitted to sell shares of the Company’s Common Stock on that day without
incurring liability under Section 16(b) of the Securities Exchange Act of 1934, as amended,
  
 •      You are not in possession of material non-public information that would make it illegal
for you to sell shares of the Company’s Common Stock on that day under Rule 10b-5 of the Securities and Exchange Commission, and Rule 10b5-1 of the Securities and Exchange Commission is not applicable,
  
 •      Under the
Company’s written Securities Trading Policy, you are permitted to sell shares of the Company’s Common Stock on that day, and
  
 •      You are not prohibited from selling shares of the Company’s Common Stock on that
day by a written agreement between you and the Company or a third party.

  

 2 

			
	Shares Restricted	  	Unvested shares will be considered “Restricted Shares.” You may not sell, transfer, pledge or otherwise dispose of any Restricted Shares without the written consent of the
Company, except as provided in the next sentence. You may transfer Restricted Shares to your spouse, children or grandchildren or to a trust established by you for the benefit of yourself or your spouse, children or grandchildren. However, a
transferee of Restricted Shares must agree in writing on a form prescribed by the Company to be bound by all provisions of this Agreement.
		
	Forfeiture	  	If your Service terminates for any reason, then your Restricted Shares will be forfeited to the extent that they have not vested as of the termination of your Service. This means that any
Restricted Shares that have not vested under this Agreement will immediately revert to the Company. You receive no payment for Restricted Shares that are forfeited.
		
	Voting Rights	  	You may vote your shares even before they vest.
		
	Stock Certificates	  	The Company will hold your Restricted Shares for you. After shares have vested, a stock certificate for those shares will be released to a broker for your account. The Company will select the
broker.
		
	Restrictions on Resale	  	You agree not to sell any shares at a time when applicable laws or the Company’s Securities Trading Policy prohibit a sale. This restriction will apply as long as your Service continues and
may continue to apply after the termination of your Service.
		
	Adjustments	  	In the event of a stock split, a stock dividend or a similar change in Company stock, the number of Restricted Shares that remain subject to forfeiture will be adjusted
accordingly.
		
	Applicable Law	  	This Agreement will be interpreted and enforced under the laws of the State of Delaware (without regard to their choice-of-law provisions).
		
	The Plan and Other
Agreements	  	 The text of the Plan is incorporated in this Agreement by reference.

	 	  	The Plan, this Agreement and the Notice of Restricted Stock Award constitute the entire understanding between you and the Company regarding this grant. Any prior agreements, commitments or
negotiations concerning this grant are superseded. This Agreement may be amended only by another written agreement between the parties.

  
 BY
ACCEPTING THIS GRANT, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS

 DESCRIBED ABOVE, IN THE PLAN AND
IN THE NOTICE OF RESTRICTED STOCK AWARD. 
  

 3Compensation Program for Non-Employee Directors

 Exhibit 10.2 
  
 ARIBA, INC. COMPENSATION PROGRAM FOR
NON-EMPLOYEE DIRECTORS 
  
 EFFECTIVE OCTOBER 1, 2005 
  

	A.	Cash Compensation 

  

	 	1.	Board retainer: $50,000 per year, paid in quarterly installments. 

  

	 	2.	Lead Independent Director retainer: $10,000 per year, paid in quarterly installments. 

  

	 	3.	Board meeting fee: $2,500 for each meeting attended in person and each regularly scheduled telephone meeting, paid quarterly. 

  

	 	4.	Committee chair retainer: $5,000 per year ($10,000 per year for the Audit Committee Chair), paid in quarterly installments. 

  

	 	5.	Committee meeting fee: $1,000 for each meeting attended in person and each regularly scheduled telephone meeting, paid quarterly. 

  

	B.	Equity Compensation 

  

	 	1.	Initial restricted stock grant: shares with a market value of $100,000. All of the shares vest on the first permissible trading date after the first anniversary of the grant, with
immediate full vesting in the event of a change in control. The shares will be granted by the Compensation Committee under the 1999 Equity Incentive Plan (the “EIP”) in conjunction with the director’s initial appointment or election
to the Board. 

  

	 	2.	Annual restricted stock grant: shares with a market value of $100,000. All of the shares vest on the first permissible trading date after the first anniversary of the grant, with
immediate full vesting in the event of a change in control. The shares will be granted by the Compensation Committee under the EIP in conjunction with the Annual Meeting of stockholders. 

  

	 	3.	Voluntary exchange of cash retainers and meeting fees for stock options or shares, as contemplated by Article 13 of the EIP: 

  

	 	(a)	An election to exchange cash for options or shares must be made in writing, must be filed with the Company before the first day of the first quarter to which the election applies
and must remain in effect until revoked or amended in writing. 

  

	 	(b)	Any amendment or revocation of an election must be filed with the Company before the first day of the first quarter to which it applies. 

	 	(c)	An election to exchange cash for options or shares may apply to all or any part (but not less than 50%) of the cash compensation earned during each period to which the election
applies. 

  

	 	(d)	The options or shares will automatically be granted as of the last day of the quarter for which the cash compensation would have been paid, absent the director’s election.

  

	 	(e)	For purposes of the exchange of cash for options, the value of the options will be calculated as of the date of grant by applying the formula and assumptions used by the
Company’s independent auditors in preparing the Company’s financial statements. 

  

	 	(f)	For purposes of the exchange of cash for shares, the value of the shares will be calculated on the basis of the closing price as of the date of grant. 

  

	 	(g)	The options will have an exercise price per share equal to 100% of the fair market value per share of the Company’s Common Stock on the date of grant. 

 

	 	(h)	The term of the options will be 10 years, except that they will terminate 12 months after the director’s service terminates for any reason. 

  

	 	(i)	The options will be immediately exercisable and fully vested. 

  

	 	(j)	The shares will be fully vested. 

  

 2

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