Annual Compensation Schedule for Non-Employee Directors (2006–2008)
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Summary
This document outlines the annual compensation for non-employee directors, including the Non-Executive Chairman, for the years 2006, 2007, and 2008. It specifies the retainer amounts for each director and details the payment schedule: the Chairman receives part of the 2008 retainer monthly and the remainder quarterly, while other directors are paid quarterly. The agreement ensures clarity on compensation and payment timing for board members who are not company employees.
EX-10.5 2 w51576exv10w5.htm EX-10.5 exv10w5
Exhibit 10.5
Annual Compensation of Non-Employee Directors
| 2008 | 2007 | 2006 | ||||||||||
| Name/Position | Retainer | Retainer | Retainer | |||||||||
Jacques Rebibo, Non-Executive Chairman | $ | 48,000 | $ | 48,000 | $ | 43,050 | ||||||
J. Randolph Babbitt, Non-Employee Director | $ | 36,000 | $ | 36,000 | $ | 31,050 | ||||||
Thomas M. Kody, Non-Employee Director | $ | 36,000 | $ | 36,000 | $ | 31,050 | ||||||
John W. Edgemond IV, Non-Employee Director | $ | 36,000 | $ | 36,000 | $ | 31,050 | ||||||
James L. Jadlos, Non-Employee Director | $ | 36,000 | $ | 36,000 | $ | 31,050 | ||||||
The Non-Executive Chairman will be paid $1,000 of the 2008 retainer monthly, with the balance being paid by quarterly installments in the month following the end of each fiscal quarter. The other Non-Employee Directors will be paid the entire 2008 retainer in quarterly installments in the month following the end of each fiscal quarter.
