Attached files
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8-K - 8-K - COVER ALL TECHNOLOGIES INC | d28010.htm |
Exhibit 99.1
Summary of 2011 Non-Employee Director Compensation
The Non-employee Director compensation plan for 2011 (the Plan) applies solely to members of the Companys board of directors who are not employees of the Company (each, a Non-employee Director). Pursuant to the Plan, each Non-employee Director will receive: (i) an annual cash compensation of $22,000; and (ii) an annual award of such number of shares of the Companys common stock that has a Fair Market Value (as defined in the Companys Amended and Restated 2005 Stock Incentive Plan) of $29,000 on March 16, 2011; provided that such shares are restricted and will vest on November 30, 2011. Each Non-employee Director serving on the Companys Audit Committee will receive an additional $1,000 per quarter in cash.
Approved by the Board of Directors on March 16, 2011