Summary of Board of Director Compensation for A.S.V., Inc. (July 12, 2005)
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Summary
This document outlines the compensation plan for members of the Board of Directors of A.S.V., Inc. Directors receive an initial stock option to purchase 2,250 shares upon election, an annual retainer of $20,000, and an additional $5,000 annual retainer for the Audit Committee Chair. Each year, continuing directors are granted a stock option to purchase 3,000 shares. Directors are also reimbursed for expenses related to attending board meetings.
EX-10.1 2 c96757exv10w1.txt SUMMARY OF BOARD OF DIRECTOR COMPENSATION EXHIBIT 10.1 SUMMARY OF BOARD OF DIRECTOR COMPENSATION FOR A.S.V., INC. JULY 12, 2005 1. Initial Election Stock Option Award: stock option to purchase 2,250 shares of ASV common stock. 2. Annual Retainer: $20,000. 3. Annual Audit Committee Chair Retainer: $5,000. 4. Annual Stock Option Award: stock option to purchase 3,000 shares of ASV common stock, which is granted on the first business day of each calendar year after the director's initial election to the Board, provided such person continues to serve as a director of ASV at the time of grant. 5. Expenses: ASV reimburses directors for expenses incurred in connection with attendance at Board meetings. 4
