SCHEDULE OF THE COLONIAL BANCGROUP, INC. DIRECTOR AND COMMITTEE FEES

EX-10.2 3 dex102.htm SCHEDULE OF THE COLONIAL BANCGROUP, INC. DIRECTOR AND COMMITTEE FEES Schedule of the Colonial BancGroup, Inc. Director and Committee Fees

Exhibit 10.2

SCHEDULE OF THE COLONIAL BANCGROUP, INC.

DIRECTOR AND COMMITTEE FEES

Quarterly Fees Payable to BancGroup Directors: $6,250 per quarter

Annual Stock Grants for BancGroup Directors: $15,000 per year

Fees Payable to BancGroup Directors for BancGroup Board Meetings: $2,000 per meeting attended.

Quarterly Fees Payable to the Chairman of the Audit Committee: $2,500 per quarter.

Quarterly Fees Payable to the Chairman of the Compensation Committee: $2,000 per quarter.

Quarterly Fees Payable to the Chairman of the Corporate Governance Committee: $1,500 per quarter.

Quarterly Fees Payable to the Chairman of the Asset/Liability Committee: $1,000 per quarter.

Fees Payable to BancGroup Directors for service as a Chairman of any BancGroup Committee: $1,500 per meeting attended.

Fees Payable to BancGroup Directors for service as a member of any BancGroup Committee other than the Audit Committee: $1,250 per meeting attended.

Fees Payable to BancGroup Directors for service as a member of the Audit Committee: $1,500 per meeting attended.

Fees Payable to any Special Litigation Committee: $1,000 per meeting attended, provided, however, that in the event a meeting extends beyond four (4) hours in length, then each member shall receive an additional $500 fee for any additional four (4) hour period or any portion thereof.