2006 Board Compensation Plan for Directors of CBAI

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the compensation plan for the board of directors of CBAI, including Matthew Schissler, Joseph Vicente, Stephen Weir, Gayl Rogers-Chrysler, and Timothy McGrath. Each director will receive 54,054 restricted CBAI shares for their service in 2006, with the number of shares for subsequent years determined by the company's stock price at year-end. The plan covers specific service terms for each director and was approved by board resolution on January 26, 2006.

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EX-10.612 2 exh1061.htm BOARD COMPENSATION PLAN DATED 01-26-2006 Board Compensations*

EXHIBIT 10.61

Board Compensations*

2006




  

Title

 

**Restricted
CBAI shares

 

Term

Matthew Schissler:

     

Chairman

     

54,054 for 2006

     

July 1, 2005- July, 1 2008

       

Joseph Vicente

 

Director

 

54,054 for 2006

 

January 1, 2006 – Dec 31,  2008

       

Stephen Weir

 

Director

 

54,054 for 2006

 

January 1, 2006 – Dec 31,  2008

       

Gayl Rogers-Chrysler

 

Director

 

54,054 for 2006

 

Aug 1, 2005- Aug 1 2008

       

Timothy McGrath

 

Director

 

54,054 for 2006

 

March 1, 2006 – March 1, 2009


____________

*

Via Board Resolution, discussed and voted upon on January 26, 2006

**

2006 Annual total based on the closing stock price on January 25, 2006 divided by $10,000.


Shares issued as compensation for one year of service in 2007 and 2008 will be based on the closing stock price of the last business day of 2006 and 2007, respectively, divided by $10,000.