1st Franklin Financial Corporation Director Compensation Summary Term Sheet
This document outlines the annual compensation for directors of 1st Franklin Financial Corporation. Most directors receive $35,000, with the Audit Committee Chairman receiving $40,000. The Chairman Emeritus, Ben F. Cheek, III, has elected not to receive any director fees. The term sheet specifies the compensation amounts for each named director, regardless of whether they are executive officers.
Exhibit 10(b) | |||
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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 Chairman Emeritus | $- * | ||
Ben F. Cheek, IV (Chairman) | $35,000 | ||
Virginia C. Herring | $35,000 | ||
A. Roger Guimond | $35,000 | ||
James H. Harris, III | $35,000 | ||
Jerry J. Harrison, Jr. | $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. | |||
