Summary of Director Compensation for Black Box Corporation Non-Employee Directors

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation for non-employee directors of Black Box Corporation. Non-employee directors receive an annual fee of $7,500, plus additional fees for attending board and committee meetings, with higher compensation for the Chairman of the Board and the Audit Committee Chairman. Directors may also receive stock options under the company's Director Stock Option Plan. The company provides liability insurance for directors and reimburses them for customary meeting expenses.

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EX-10.5 6 l27018aexv10w5.htm EX-10.5 EX-10.5  

Exhibit 10.5
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 $2,000 for each meeting of the Board of Directors attended in person and $1,000 for each meeting of the Board of Directors attended via telephone. 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 “Director Plan”). During Fiscal 2007, non-employee directors were each granted an option to purchase 7,000 shares of the Company’s common stock, par value $.001 per share (the “Common Stock”), under the Director Plan at an exercise price of $39.41 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.