SUMMARY OF ANNUAL COMPENSATION OF MEMBERS OF THE BOARD OF DIRECTORS OF THE ALLIED DEFENSE GROUP, INC.
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EX-10.21 2 w06130aexv10w21.htm EX-10.21 exv10w21
EXHIBIT 10.21
SUMMARY OF ANNUAL COMPENSATION
OF MEMBERS OF THE BOARD OF DIRECTORS OF
THE ALLIED DEFENSE GROUP, INC.
Non-employee directors of The Allied Defense Group, Inc. (“Allied”) receive the following annual compensation for service as a member of Allied:
| • | Cash of $24,000, payable in equal monthly installments of $2,000 (the Chairman of the Board and the Chairman Emeritus are entitled to an additional $1,000 and $500 per month, respectively); and |
| • | $36,000 of Allied stock valued at the closing price on the last day of each June (rounded down to the nearest whole share) |
The directors have the option to defer receipt of the cash and/or Allied stock until the director retires from the Allied board or the occurrence of a qualifying Allied change of control.
