2006 Director Compensation Summary Table for Board Members

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation arrangements for the company's directors in 2006. It lists each director's name and details the amounts received in cash fees, stock options, and total compensation. Directors received a combination of cash and stock for their services, with half of all fees paid in stock. Each director was also granted stock options valued using the Black-Scholes method. No non-equity incentive, pension, or other compensation was provided. The table provides a clear summary of the total compensation for each director for the year.

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EX-10.21 8 dex1021.htm SUMMARY OF COMPENSATION ARRANGEMENTS FOR DIRECTORS Summary of Compensation Arrangements for Directors

Exhibit 10.21

DIRECTOR COMPENSATION TABLE—2006

 

Name

    Fees
Earned
or Paid
in
Cash ($)1		    Stock
Awards ($)		    Option
Awards ($)2-3		    Non-Equity
Incentive Plan
Compensation
($)		    Change in
Pension Value
and
Nonqualified
Deferred
Compensation
Earnings ($)		    All Other
Compensation ($)		    Total ($)

Crawford, Sally W.

    $38,250    N/A    12,030    N/A    N/A    $0.00    $ 50,280

Drumheller, Philip

    $38,250    N/A    12,030    N/A    N/A    $0.00    $ 50,280

Dwight, John K.

    $33,250    N/A    12,030    N/A    N/A    $0.00    $ 45,280

Hutton, Lyn

    $40,750    N/A    12,030    N/A    N/A    $0.00    $ 52,780

Pizzagalli, James C.

    $40,750    N/A    12,030    N/A    N/A    $0.00    $ 52,780

Pomerleau, Ernest A.

    $37,000    N/A    12,030    N/A    N/A    $0.00    $ 49,030

Richards, Mark W.

    $38,250    N/A    12,030    N/A    N/A    $0.00    $ 50,280

Smith, Charles W.

    $33,250    N/A    12,030    N/A    N/A    $0.00    $ 45,280

Spera, Pall D.

    $34,500    N/A    12,030    N/A    N/A    $0.00    $ 46,530

Wells, Owen W.

    $35,750    N/A    12,030    N/A    N/A    $0.00    $ 47,780

 

1

Reflects all cash fees earned or paid for services as a director (e.g., retainers, meeting fees). Fifty percent of all fees are paid in the form of stock.

 

2

Option award of 1,500 shares times the Black Scholes valuation of $8.02 per share.

 

3

At December 31, 2006 there were 200,282 Director stock option awards outstanding.