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Cray Inc – ‘10-K’ for 12/31/18 – ‘EX-10.24’

On:  Tuesday, 2/12/19, at 4:13pm ET   ·   For:  12/31/18   ·   Accession #:  949158-19-10   ·   File #:  0-26820

Previous ‘10-K’:  ‘10-K’ on 2/15/18 for 12/31/17   ·   Latest ‘10-K’:  This Filing

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/12/19  Cray Inc                          10-K       12/31/18  111:12M

Annual Report   —   Form 10-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   1.09M 
 2: EX-10.24    Material Contract                                   HTML     35K 
 3: EX-10.25    Material Contract                                   HTML     64K 
 4: EX-21.1     Subsidiaries List                                   HTML     33K 
 5: EX-23.1     Consent of Experts or Counsel                       HTML     30K 
 6: EX-31.1     Certification -- §302 - SOA'02                      HTML     36K 
 7: EX-31.2     Certification -- §302 - SOA'02                      HTML     36K 
 8: EX-32.1     Certification -- §906 - SOA'02                      HTML     33K 
15: R1          Document and Entity Information                     HTML     56K 
16: R2          Consolidated Balance Sheets                         HTML    119K 
17: R3          Consolidated Balance Sheets (Parenthetical)         HTML     45K 
18: R4          Consolidated Statements of Operations               HTML     93K 
19: R5          Consolidated Statements of Comprehensive Income     HTML     52K 
20: R6          Consolidated Statements of Shareholders? Equity     HTML     81K 
21: R7          Consolidated Statements of Cash Flows               HTML    161K 
22: R8          Description of Business                             HTML     32K 
23: R9          Summary of Significant Accounting Policies          HTML    171K 
24: R10         Strategic Transaction                               HTML     94K 
25: R11         Fair Value Measurements                             HTML    128K 
26: R12         Accumulated Other Comprehensive Income              HTML     80K 
27: R13         Investments                                         HTML     38K 
28: R14         Accounts and Other Receivables, Net                 HTML     53K 
29: R15         Sales-Type Lease                                    HTML     49K 
30: R16         Inventory                                           HTML     44K 
31: R17         Property and Equipment, Net                         HTML     48K 
32: R18         Contract Liabilities                                HTML     45K 
33: R19         Commitments and Contingencies                       HTML     53K 
34: R20         Income Taxes                                        HTML    168K 
35: R21         Credit Faciliites                                   HTML     35K 
36: R22         Shareholders' Equity                                HTML    256K 
37: R23         Benefit Plans                                       HTML     34K 
38: R24         Segment Information                                 HTML    110K 
39: R25         Research and Development                            HTML     45K 
40: R26         Interest Income (Expense)                           HTML     42K 
41: R27         Restructuring                                       HTML     33K 
42: R28         Quarterly Data (Unaudited)                          HTML     96K 
43: R29         Schedule II - Valuation and Qualifying Accounts     HTML     54K 
44: R30         Summary of Significant Accounting Policies Summary  HTML    245K 
                of Significant Accounting Policies (Policies)                    
45: R31         Summary of Significant Accounting Policies Summary  HTML    118K 
                of Significant Accounting Policies (Tables)                      
46: R32         Strategic Transaction (Tables)                      HTML     91K 
47: R33         Fair Value Measurements (Tables)                    HTML    124K 
48: R34         Accumulated Other Comprehensive Income Accumulated  HTML     92K 
                Other Comprehensive Income (Tables)                              
49: R35         Investments Investments (Tables)                    HTML     39K 
50: R36         Accounts and Other Receivables, Net Accounts and    HTML     47K 
                Other Receivables, Net (Tables)                                  
51: R37         Sales-Type Lease Sales-Type Lease (Tables)          HTML     50K 
52: R38         Inventory Inventory (Tables)                        HTML     42K 
53: R39         Property and Equipment, Net Property and            HTML     47K 
                Equipment, Net (Tables)                                          
54: R40         Contract Liabilities Contract Liabilities (Tables)  HTML     43K 
55: R41         Commitments and Contingencies Commitments and       HTML     45K 
                Contingencies (Tables)                                           
56: R42         Income Taxes Income Taxes (Tables)                  HTML    159K 
57: R43         Shareholders' Equity Shareholders' Equity (Tables)  HTML    248K 
58: R44         Segment Information Segment Information (Tables)    HTML    106K 
59: R45         Research and Development Research and Development   HTML     45K 
                (Tables)                                                         
60: R46         Interest Income (Expense) (Tables)                  HTML     41K 
61: R47         Quarterly Data (Unaudited) (Tables)                 HTML     96K 
62: R48         Summary of Significant Accounting Policies Cash,    HTML     41K 
                Cash Equivalents and Restricted Cash (Details)                   
63: R49         Summary of Significant Accounting Policies          HTML     44K 
                Property and Equipment and Intangible Assets                     
                (Details)                                                        
64: R50         Summary of Significant Accounting Policies Service  HTML     30K 
                Spares (Details)                                                 
65: R51         Summary of Significant Accounting Policies          HTML     47K 
                Schedule of Contract Receivables, Assets and                     
                Liabilities (Details)                                            
66: R52         Summary of Significant Accounting Policies Revenue  HTML     54K 
                Recognition (Details)                                            
67: R53         Summary of Significant Accounting Policies          HTML     63K 
                Schedule of Disaggregation of Revenue (Details)                  
68: R54         Summary of Significant Accounting Policies          HTML     34K 
                Sales-type leases (Details)                                      
69: R55         Summary of Significant Accounting Policies Foreign  HTML     34K 
                Currency Translation and Transaction (Details)                   
70: R56         Summary of Significant Accounting Policies          HTML     31K 
                Advertising Costs (Details)                                      
71: R57         Summary of Significant Accounting Policies EPS      HTML     40K 
                (Details)                                                        
72: R58         Summary of Significant Accounting Policies          HTML     41K 
                Accumulated Other Comprehensive Income (Loss)                    
                (Details)                                                        
73: R59         Strategic Transaction - Narrative (Details)         HTML     50K 
74: R60         Strategic Transaction - Schedule of Assets          HTML     70K 
                Acquired and Liabilities Assumed (Details)                       
75: R61         Strategic Transaction Strategic Transaction -       HTML     44K 
                Schedule of Intangible Assets (Details)                          
76: R62         Strategic Transaction - Schedule of Major           HTML     47K 
                Componets of Intangible Assets (Details)                         
77: R63         Strategic Transaction - Schedule of Amortization    HTML     45K 
                of Intangible Assets (Details)                                   
78: R64         Fair Value Measurements Fair Value Measurement      HTML     53K 
                (Details)                                                        
79: R65         Fair Value Measurements Derivative Instruments and  HTML    105K 
                Hedging Activities Disclosure (Details)                          
80: R66         Accumulated Other Comprehensive Income Accumulated  HTML     59K 
                Other Comprehensive Income (Details)                             
81: R67         Investments Investments (Details)                   HTML     36K 
82: R68         Accounts and Other Receivables, Net Accounts and    HTML     58K 
                Other Receivables, Net (Details)                                 
83: R69         Sales-Type Lease Sales-Type Lease (Details)         HTML     54K 
84: R70         Inventory Inventory (Details)                       HTML     52K 
85: R71         Property and Equipment, Net Property and            HTML     53K 
                Equipment, Net (Details)                                         
86: R72         Contract Liabilities Contract Liabilities           HTML     48K 
                (Details)                                                        
87: R73         Commitments and Contingencies Commitments and       HTML     87K 
                Contingencies (Details)                                          
88: R74         Commitments and Contingencies Loss Contingencies    HTML     44K 
                (Details)                                                        
89: R75         Income Taxes Narrative (Details)                    HTML     79K 
90: R76         Income Taxes Tax Provision (Details)                HTML     58K 
91: R77         Income Taxes Reconciliation of Statutory Federal    HTML     67K 
                Tax Rate (Details)                                               
92: R78         Income Taxes Deferred Tax Assets and Liabilities    HTML     78K 
                (Details)                                                        
93: R79         Income Taxes Unrecognized Tax Benefits (Details)    HTML     42K 
94: R80         Credit Facilities Credit Facilities (Details)       HTML     55K 
95: R81         Shareholders' Equity Narrative (Details)            HTML     40K 
96: R82         Shareholders' Equity Assumptions (Details)          HTML     54K 
97: R83         Shareholders' Equity Option Activity (Details)      HTML    123K 
98: R84         Shareholders' Equity Restricted Stock (Details)     HTML    113K 
99: R85         Shareholders' Equity Expense (Details)              HTML     56K 
100: R86         Benefit Plans (Details)                             HTML     42K  
101: R87         Segment Information Business Segment (Details)      HTML     55K  
102: R88         Segment Information Geographic Segment (Details)    HTML     42K  
103: R89         Segment Information Narrative (Details)             HTML     58K  
104: R90         Research and Development Research and Development   HTML     41K  
                (Details)                                                        
105: R91         Interest Income (Expense) (Details)                 HTML     36K  
106: R92         Restructuring - Narrative (Details)                 HTML     37K  
107: R93         Quarterly Data (Unaudited) (Details)                HTML     64K  
108: R94         Schedule II - Valuation and Qualifying Accounts     HTML     39K  
                (Details)                                                        
110: XML         IDEA XML File -- Filing Summary                      XML    196K  
109: EXCEL       IDEA Workbook of Financial Reports                  XLSX    132K  
 9: EX-101.INS  XBRL Instance -- cray-20181231                       XML   3.75M 
11: EX-101.CAL  XBRL Calculations -- cray-20181231_cal               XML    334K 
12: EX-101.DEF  XBRL Definitions -- cray-20181231_def                XML    762K 
13: EX-101.LAB  XBRL Labels -- cray-20181231_lab                     XML   2.18M 
14: EX-101.PRE  XBRL Presentations -- cray-20181231_pre              XML   1.28M 
10: EX-101.SCH  XBRL Schema -- cray-20181231                         XSD    190K 
111: ZIP         XBRL Zipped Folder -- 0000949158-19-000010-xbrl      Zip    329K

‘EX-10.24’   —   Material Contract

This Exhibit is an HTML Document rendered as filed.  [ Alternative Formats ]

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  Exhibit  


Exhibit 10.24

CRAY INC.
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
(Amended and restated effective November 8, 2018)

Equity Compensation
Continuing Directors. At the conclusion of each annual meeting of the Company’s shareholders (“Annual Meeting”), each continuing non-employee director (“Non-Employee Director”) elected by the shareholders at such Annual Meeting will automatically be granted, without any further action by the Board of Directors, a number of restricted shares of the Company’s common stock (the “Refresher Awards”) determined by dividing $140,000 by the closing price per share of the Company’s common stock on the trading day immediately prior to the date of the Annual Meeting, as reported by the NASDAQ Global Market, with such quotient rounded to the nearest whole share. The Refresher Awards shall vest in full on the earlier of (i) 12 months from the date of grant and (ii) the date that is immediately prior to the date of the next Annual Meeting. Until the shares are vested, as set forth pursuant to the above schedule, the shares will be restricted against sale or transfer.
The Non-Employee Directors may vote and receive dividends on the restricted shares while the restrictions remain in place.
If a Non-Employee Director resigns from the Board without the prior approval of the Corporate Governance Committee prior to the full vesting of the Restricted Award, the Non-Employee Director will forfeit the unvested shares that remain restricted.
New Directors. Each Non-Employee Director, upon his or her first election to the Board, shall be granted stock options for 20,000 shares of the Company’s common stock, which options shall be immediately vested as of the date of grant and have an exercise price equal to the fair market value of the common stock on the date of grant.
Cash Compensation
Non-Employee Directors receive cash compensation for serving in such positions as follows:
Board and Committee Annual Retainer:
•
Board: $50,000 annual retainer for serving on the Board (with the retainer including one Board meeting per quarter);
•
Audit Committee: $10,000 annual retainer for serving on the Audit Committee, paid quarterly.
•
Compensation Committee: $10,000 annual retainer for serving on the Compensation Committee, paid quarterly;
•
Corporate Governance Committee: $5,000 annual retainer for serving on the Corporate Governance Committee, paid quarterly
•
Strategic Technology Assessment Committee: $5,000 annual retainer for serving on the Strategic Technology Assessment Committee, paid quarterly





Board and Committee Chairman Fees:
•
Board: $40,000 annual fee, paid quarterly
•
Audit Committee: $15,000 annual fee, paid quarterly
•
Compensation Committee: $10,000 annual fee, paid quarterly
•
Corporate Governance Committee: $5,000 annual fee, paid quarterly
•
Strategic Technology Assessment Committee: $5,000 annual fee, paid quarterly




Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/12/198-K
For Period end:12/31/185,  SD
11/8/18
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Filing Submission 0000949158-19-000010   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)
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