Autodesk 2006 Annual Report Download - page 23
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Please find page 23 of the 2006 Autodesk annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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Compensation of Directors
During fiscal 2006, we paid an annual fee of $40,000 to each director who was not an Autodesk employee
(currently eight persons). Each director may elect to receive up to fifty percent of the fee in cash, with the balance
paid in the form of restricted stock issued at a rate of $1.20 worth of stock for each $1.00 of cash compensation
foregone. Such restricted stockwas issued on June 23, 2005 (the date of last year’s annual meeting of stockholders)
and will vest at this year’s Annual Meeting, provided that the recipient is a director on such date. Directors
received an additional $10,000 for serving as Lead Director or chairman of a board committee. Directors do not
receive fees for attending Board or board committee meetings.
Additionally, the Company’s 2000 Directors’ Option Plan provides for the automatic grant of nonstatutory
stock options to our non-employee directors. Upon being elected or appointed to our Board of Directors, each
non-employee director is granted an option to purchase 50,000 shares of our Common Stock, with subsequent
annual option grants of 20,000 shares of our Common Stock. The exercise price of options granted under the
2000 Directors’ Option Plan is equal to the fair value of our Common Stock on the date of grant. Options granted
under the 2000 Directors’ Option Plan upon election or appointment vest over a three-year period; subsequent
annual option grants vest over a one-year period.
Proxy Materials
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