<DOCUMENT>
<TYPE>EX-10.3
<SEQUENCE>2
<FILENAME>d63845_ex10-3.txt
<DESCRIPTION>MATERIAL CONTRACTS
<TEXT>
                                                                    Exhibit 10.3

                NON-EMPLOYEE DIRECTOR COMPENSATION SUMMARY SHHET

                            CERTIFICATION PURSUANT TO
                  SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002

The  Board  of  Directors  has  approved  the  following  compensation  for each
non-employee director:

Initial option grants

SIGA  Technologies,  Inc. will grant each non-employee  director who first joins
the Board options to purchase 25,000 shares of common stock at an exercise price
per share equal to the fair market  value price per share of common stock on the
date of the grant.

Annual option grant

SIGA  Technologies,  Inc.  will  grant  each  non-employee  director  options to
purchase  10,000  shares of common stock at each annual  meeting and  commencing
with the 2005 Annual Meeting.

Meeting fees

SIGA  Technologies,  Inc.  will pay its  directors  $1,000 per meeting for board
meetings.  The chairman of the Audit  Committee  will receive $1,000 per meeting
for meetings of the Audit Committee and all other members of the Audit Committee
will receive $500 per meeting for  meetings of the Audit  Committee.  Members of
the  Compensation  Committee and Nominating and Corporate  Governance  Committee
will  receive $500 per meeting for meetings of the  Compensation  Committee  and
Nominating and Corporate Governance Committee.


                                       17
</TEXT>
</DOCUMENT>
