Summary of Non-Employee Director Compensation for 2015
This document outlines the compensation for non-employee directors of the company for 2015. Eligible directors receive an annual retainer of $35,000, paid quarterly. Additional annual retainers are provided: $5,000 for the Chairman of the Board and the Chairs of the Compensation and Nominating and Governance Committees, and $15,000 for the Chair of the Audit Committee. The company also reimburses reasonable expenses related to board service. Directors who are employees, preferred directors, or have separate compensatory agreements are excluded.
Exhibit 10.15
Summary of Non-Employee Director Compensation effective for 2015*
Directors, other than the Preferred Director, who are not employees of the Company or any of its subsidiaries and who do not have a compensatory agreement providing for service as a director of the Company or any of its subsidiaries will receive the following compensation for 2015:
| Annual retainer for each Director, paid quarterly in advance |
| $ | 35,000 |
|
| Additional annual retainer for Chairman of the Board, and the Chairs of the Compensation and Nominating and Governance Committees |
| $ | 5,000 |
|
| Additional annual retainer for Chair of the Audit Committee |
| $ | 15,000 |
|
The Company pays each director’s reasonable travel, lodging, meals and other expenses connected with their Board service.
