EX-10 3 exhibit_10-23.txt EXHIBIT 10.23 UNIVERSAL DETECTION TECHNOLOGY BOARD OF DIRECTORS COMPENSATION 2005 Each director who is independent under the rules and regulations of the Securities and Exchange Commission, which we refer to as an independent director receives compensation as set forth below.
Annual Retainer $5,000 per annum In Person Board, Shareholder or Committee Reimbursement for reasonable travel and lodging Meeting expenses Equity Compensation Directors, together with our executive officers and other employees, are eligible to receive grants of awards under our 2003 Stock Incentive Plan. These awards may be in the form of stock option0 and/or restricted stock grants. The number of shares underlying options or shares, as well as the exercise price, vesting and all other terms of the options and shares, are established by the Board of Directors.