Director Compensation Summary Sheet
This agreement outlines the compensation for directors of the company. Each director receives a $25,000 annual cash retainer and $1,000 for each board or committee meeting attended. The Audit Committee Chairman receives an additional $5,000 annually, while the chairmen of the Compensation, Nominating, Corporate Governance, and any other special committees receive an extra $3,000 per year. The agreement specifies the payment structure for directors' service on the board and its committees.
EXHIBIT 10.1
SUMMARY SHEET: DIRECTOR COMPENSATION
1. Each director shall receive an annual cash retainer of $25,000.
2. Each director shall receive $1,000 cash for each meeting of the board of directors or board of directors’ committee that such director attends.
3. The Audit Committee Chairman shall receive an additional annual cash retainer of $5,000.
4. The Compensation Committee Chairman, the Nominating Committee Chairman, the Corporate Governance Committee Chairman and the chairman of any other committee or special committee established by the board of directors shall receive an additional annual cash retainer of $3,000.
