Service as Director $ 9,000 Service as Chairman of the Board* $ 9,000 Service as Audit Committee Co-Chairman* $ 1,750 Service as Loan Committee Chairman* $ 3,500 Service as ALCO Committee Chairman* $ 3,500 Service as Compensation Committee Chairman* $ 3,500
EX-10.8 7 w73413exv10w8.htm EXHIBIT 10.8 exv10w8
Exhibit 10.8: Non-Employee Director Compensation (effective January 2, 2008)
Cash Compensation
Annual Retainer
Service as Director | $ | 9,000 | ||
Service as Chairman of the Board* | $ | 9,000 | ||
Service as Audit Committee Co-Chairman* | $ | 1,750 | ||
Service as Loan Committee Chairman* | $ | 3,500 | ||
Service as ALCO Committee Chairman* | $ | 3,500 | ||
Service as Compensation Committee Chairman* | $ | 3,500 |
| * | Chairman fees are in addition to the annual retainer and monthly fees received by all non-employee directors. The retainer fees and committee chair fees are paid on an annual basis in January of the year which the fee is applicable to. |
Monthly Fees
Directors | $ | 1,000 | ||
Chairman Emeritus | $ | 250 |
Equity Compensation
Each non-employee director, including the Chairman Emeritus, is also eligible to receive non-qualified stock option awards pursuant to the Alliance Bankshares Corporation 2007 Incentive Stock Plan in the discretion of the Compensation Committee.
