Summary of Director Compensation for Non-Employee Directors of Black Box Corporation
This document outlines the compensation for non-employee directors of Black Box Corporation. Non-employee directors receive an annual fee of $7,500, paid quarterly, plus $375 for each board meeting attended in person. The Chairman of the Board receives an additional $60,000 annually. Audit Committee members receive $1,500 per meeting, and its Chairman receives $6,000 annually. Directors may also receive stock options under the 1992 Director Stock Option Plan. The company provides liability insurance and reimburses directors for customary meeting expenses.
Exhibit 10.17
SUMMARY OF DIRECTOR COMPENSATION
Directors who are not employees of Black Box Corporation (the “Company”) receive directors’ fees of $7,500 per annum, paid quarterly, and an additional fee of $375 for each meeting of the Board of Directors attended in person. The Chairman of the Board also receives an annual fee of $60,000, paid quarterly. Non-employee directors also may receive grants of stock options or stock appreciation rights under the 1992 Director Stock Option Plan, as amended (the “Plan”). During Fiscal 2005, non-employee directors were each granted an option to purchase 6,000 shares of the Company’s common stock, par value $.001 per share (the “Common Stock”) under the Plan at an exercise price of $34.29 per share, the fair market value of the Common Stock on the date of grant of the options.
Members of the Audit Committee of the Board of Directors receive a fee of $1,500 for each meeting of the Audit Committee attended in person or by telephone. The Chairman of the Audit Committee also receives an annual fee of $6,000, paid quarterly.
In addition, the Company maintains directors’ and officers’ liability insurance. Directors also are reimbursed customary expenses for attending meetings of the board of directors, board committees and stockholders.
