Exhibit 10.11a
Hot Topic Inc., Director Compensation
(As revised March 17, 2010)
Cash Compensation:
MEETINGS | PER MEETING FEE | ||||||
Board | |||||||
Chair (In-person meeting) | $ | 13,000 | |||||
Member (in-person meeting) | $ | 10,000 | |||||
Telephonic meetings (all directors) | $ | 2,000 | |||||
Audit Committee | |||||||
Chair | $ | 2,500 | (+$ | 10,000/Qtr. | ) | ||
Member | $ | 1,500 | |||||
Governance & Nominating Committee | |||||||
Chair | $ | 2,500 | (+$ | 2,500/year | ) | ||
Member | $ | 1,000 | |||||
Compensation Committee | |||||||
Chair | $ | 2,500 | (+$ | 16,000/year | ) | ||
Member | $ | 1,000 |
Other Compensation:
Automatic Options:
New Director Grant: | 10,000 options | |
Continuing Director Grant: | 2,500 options | |
Continuing Chair Grant: | 3,750 options |
Discretionary Options:
Continuing Director Grant: The number of shares which will, including the automatic grant, provide a $60,000 aggregate grant, using the Black Scholes model.
Continuing Chair Grant: The number of shares which will, including the automatic grant, provide an $80,000 aggregate grant, using the Black Scholes model.
Stock Bonus Award:
Director Award: The number of shares equal to $25,000 divided by the share price determined as of the date of grant.
Chair Award: The number of shares equal to $30,000 divided by the share price determined as of the date of grant.