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Exhibit 10.57
Vertex Pharmaceuticals Non-Employee Board Compensation
Annual Retainer: |
| $50,000 |
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Committee Chair Compensation |
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Audit & Finance Committee Chair |
| $25,000 annual retainer |
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Corporate Governance & Nominating Committee Chair |
| $20,000 annual retainer |
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Management Development & Compensation Committee Chair |
| $20,000 annual retainer |
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Science & Technology Committee Chair |
| $12,500 annual retainer |
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Committee Membership Fees (Non-Chairs): |
| $5,000 annually per committee membership |
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Lead Independent Director Compensation: |
| $25,000 annual retainer |
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Equity Grants |
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| Upon first election to the Board, 30,000 options, vesting quarterly over four years; and |
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| On June 1 of each year in service, 20,000 fully vested options. |
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| On June 1 of each year, 2,500 fully vested options for the Chairman of the Board, if independent, or the Lead Independent Director. |