Barrett Business Services, Inc. Summary of Compensation Arrangements for Non-Employee Directors
Barrett Business Services, Inc. has set compensation terms for its non-employee directors as of January 1, 2009. Each director receives a $24,000 annual cash retainer, paid in two installments, and stock options for 2,000 shares at fair market value, vesting over four years and expiring in 2019. Directors are also expected to use 40% of their retainer to purchase company stock on the open market.
EXHIBIT 10.21
BARRETT BUSINESS SERVICES, INC.
SUMMARY OF COMPENSATION ARRANGEMENTS
NON-EMPLOYEE DIRECTORS
As of January 1, 2009, compensation arrangements for non-employee directors of Barrett Business Services, Inc. (the “Company”), consist of (a) an annual retainer of $24,000 payable in cash in two equal installments on January 1 and July 1 and (b) stock options of 2,000 shares of Company common stock with an exercise price equal to fair market value at the date of grant (January 16, 2009), vesting in four equal annual installments beginning one year following the date of grant and expiring on January 16, 2019. Each non-employee director is expected to purchase Company common stock in the open market with 40% of his or her annual retainer.
