1st Franklin Financial Corporation Director Compensation Summary Term Sheet
This document outlines the annual compensation for directors of 1st Franklin Financial Corporation. Most directors, including the Chairman and Audit Committee Chairman, will receive between $35,000 and $40,000. One director, Ben F. Cheek, III, has chosen not to accept any compensation. The summary specifies the names of the directors and the amounts they are to be paid for their service, whether or not they are executive officers.
Exhibit 10(i) | |||
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1st FRANKLIN FINANCIAL CORPORATION | |||
Director Compensation Summary Term Sheet | |||
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Compensation to be paid to the following directors, whether or not executive officers of the Company, will be as follows: | |||
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Name of Director | Compensation | ||
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Ben F. Cheek,. III (Vice Chairman) | $- * | ||
Ben F. Cheek, IV (Chairman) | $35,000 | ||
A. Roger Guimond | $35,000 | ||
James H. Harris, III | $35,000 | ||
John G. Sample, Jr. (Audit Committee Chairman) | $40,000 | ||
C. Dean Scarborough | $35,000 | ||
Keith D. Watson | $35,000 | ||
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* Note: Ben F, Cheek, III elected not to receive any Director fees. | |||
