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 several board members, will receive $35,000 each, while the Audit Committee Chairman will receive $40,000. One director, Ben F. Cheek, III, has chosen not to accept any compensation. The term sheet applies to both executive and non-executive directors as listed.
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. | |||
