Attached files
| file | filename |
|---|---|
| 8-K - CDEX INC | f911018k.htm |
EXHIBIT 99.1
CDEX INC. BOARD OF DIRECTORS 2010 COMPENSATION PLAN
The expected term of office is expected to be for a period of three years. Compensation for the member’s services will be:
Upon acceptance of office, the member will receive 200,000 shares of restricted stock, to vest immediately, tradable after six (6) months, subject of SEC rules on affiliate trading.
Each year, the Member will be compensated for the following:
| $ | 12, 500 |
Annual retainer fee, to be paid on a quarterly basis with a grant of restricted stock valued on each quarter's VWAP, calculated on a whole-day’s activity closing price basis.
|
|
| 5,500 |
Yearly fee for eleven months Board of Director Meetings via teleconference ($500 per month for eleven months)
|
||
| 7,000 |
Annual on-site Board of Directors meeting fee.
|
||
| $ | 25,000 |
Total Value of Compensation
|
|
| $ | 1,000 |
Annual fee for Board of Directors Committee membership to be paid with a grant of restricted stock valued as of the close of business on the date the position is accepted.
|
The cash compensation of $12,500 will be paid out each year on a quarterly basis, additionally individual members may elect to take compensation in the form of stock grants in lieu of cash.
This Plan will be effective August 30, 2010.