PubliCARD, Inc. Director Compensation Reduction Agreement (March 2006)
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Summary
PubliCARD, Inc. has reduced the annual compensation for its non-employee directors by 33% effective April 1, 2006. The Chairman and Vice Chairman's annual retainers were reduced from $100,000 to $66,667, while other non-employee directors' retainers were reduced from $24,000 to $16,000. These compensation arrangements have no set end date and can be terminated at any time by either party.
EX-10.1 2 v038391_ex10-1.htm
EXHIBIT 10.1
On March 20, 2006, the Board of Directors of PubliCARD, Inc. approved a thirty-three percent reduction in compensation for all non-employee directors effective April 1, 2006. As a result, the annual retainer for Harry I. Freund, Chairman of the Board of Directors, and Jay S. Goldsmith, Vice Chairman of the Board of Directors, was reduced from $100,000 to $66,667, and the annual retainer for all other non-employee directors was reduced from $24,000 to $16,000. These arrangements have indefinite terms and are terminable at any time by either party.
