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Luminex Finalizes Compensation for Board of Directors

NEW YORK, March 18 (GenomeWeb News) - In an 8-K form filed with the US Securities and Exchange Commission yesterday, Luminex disclosed the terms of compensation to be paid to its non-employee directors.

 

The chairman of the company's board of directors, Walter Loewenbaum, will receive a monthly retainer of $10,000. Loewenbaum has served as a member of the board since 1995.

 

Board members other than the chairman will receive an annual retainer of $18,000.

 

Chairs of the audit committee and executive committee of the board of directors will be paid an additional annual retainer of $20,000, while the chair of the compensation and nominating and corporate governance committees will be paid an additional annual retainer of $10,000.

 

Each board member will also receive $2,000 for each board meeting attended, $500 for each committee meeting, and $1,000 for each audit committee meeting.

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