Capital Lease Funding, Inc. 2005 Independent Director Compensation Summary

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2005 compensation plan for independent directors of Capital Lease Funding, Inc. Directors receive an annual cash retainer of $25,000, with an additional $5,000 for committee chairs ($7,500 for the audit committee chair). Each director is awarded 1,000 shares of stock, vesting over three years. Directors also receive fees for attending board and committee meetings, with specific amounts for in-person and teleconference participation. Committee attendance fees are not paid if the meeting coincides with a board meeting.

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EX-10.1 2 v014940_ex10-1.htm
                                                                                            Exhibit10.1
 
Capital Lease Funding, Inc.
Summary of Compensation to
Independent Directors
 

   
2005
  
         
Annual cash retainer
  
$
25,000
  
Committee chair additional retainer
  
$
5,000(1
)
Stock award
    
1,000 shares(2
)
Board attendance fee
  
$
1,000 per meeting(3
)
Committee attendance fee
  
$
500 per meeting(4
)
 
(1)  Except for our audit committee chair, who receives $7,500.
   
(2) Award will vest in three equal annual installments beginning on the first anniversary of the grant date.
   
(3) $500 fee if attended by teleconference.
   
(4)
Committee attendance fees are not paid for meetings held on the same day as a Board meeting.