Summary of Independent Director Compensation for Board and Committee Meetings
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Summary
This document outlines the compensation structure for independent directors of the company. Independent directors receive an annual retainer of $20,000 for attending regularly scheduled board and committee meetings, a $2,000 fee for each of the five regular board meetings, and a $100,000 restricted stock award. Additional fees are provided for attending specially called board meetings ($2,500 per meeting) and specially called committee meetings ($1,250 per meeting), with all attendance possible in person or by phone. These compensation terms apply only to independent directors.
EX-10.1 2 dex101.htm SUMMARY OF DIRECTOR COMPENSATION Summary of Director Compensation
EXHIBIT 10.1
Summary of Director Compensation
| Description | Amount* | |
| Annual Retainer for attendance (in person or telephonically) at the regularly scheduled Board and Committee meetings | $20,000 | |
| Fee per meeting for attendance (in person or telephonically) at any of the five (5) regularly scheduled Board meetings | $2,000 | |
| Restricted Stock Award | $100,000 | |
| Fee per meeting for attendance (in person or telephonically) at any specially called meeting of the Board, for which attendance is requested in person | $2,500 per meeting | |
| Fee per meeting for attendance (in person or telephonically) at any specially called committee meeting at which attendance is requested in person | $1,250 per meeting | |
| * | The compensation referred to in the above table is only available to independent directors. |
