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, receive $30,000, while the Audit Committee Chairman receives $35,000. One director, Ben F. Cheek, III, has elected not to receive any compensation. The term sheet specifies the compensation amounts for each named director and clarifies that these payments apply regardless of whether the director is also an executive officer.
Exhibit 10(g) | |||
1st FRANKLIN FINANCIAL CORPORATION | |||
Director Compensation Summary Term Sheet | |||
Compensation to be paid to the following directors, whether or not executive officers of the Company, will be as follows: | |||
Name of Director | Compensation |
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Ben F. Cheek,. III (Vice Chairman) | $ - * |
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Ben F. Cheek, IV (Chairman) | $ 30,000 |
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A. Roger Guimond | $ 30,000 |
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James H. Harris, III | $ 30,000 |
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John G. Sample, Jr. (Audit Committee Chairman) | $ 35,000 |
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C. Dean Scarborough | $ 30,000 |
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Keith D. Watson | $ 30,000 |
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* Note: Ben F, Cheek, III elected not to receive any Director fees. |
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