Schedule of Director and Committee Fees for Colonial BancGroup, Inc.
This document outlines the compensation structure for directors and committee members of Colonial BancGroup, Inc. Directors receive quarterly fees, annual stock grants, and additional payments for attending board and committee meetings. Committee chairpersons receive extra quarterly fees, and members of certain committees, such as the Audit Committee or Special Litigation Committee, receive higher meeting fees. The schedule specifies exact amounts for each role and meeting type, ensuring transparency in director and committee compensation.
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.
