Exhibit 10.1 CREE, INC. Non-Employee Director Schedule of Meeting Fees Effective April 13, 2005 Type of Meeting and Attendance Amount - ------------------------------ ------ Regular meetings of the Board of Directors $2,500 per meeting Special meetings of the Board of Directors, $1,000 per meeting except as provided below Special meetings of the Board of Directors $2,500 per meeting attended in person when requested Meetings of the Audit Committee $4,000 per meeting for Committee Chair $1,000 per meeting for other members Meetings of other Committees $2,000 per meeting for Committee Chair $1,000 per meeting for other members