Outside Directors Compensation Schedule (2004–2005)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for outside directors of the company for 2004 and 2005. Outside directors receive an annual retainer, additional fees for chairing committees, and payments for attending board and committee meetings, whether in person or by phone. All reasonable travel expenses related to board duties are reimbursed. The agreement also states that outside directors will receive future stock grants.

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EX-10.13 8 a2152950zex-10_13.htm EXHIBIT 10.13
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EXHIBIT 10.13


COMPENSATION TO OUTSIDE DIRECTORS

 
   2004
   2005
Annual Retainer Fee:   $ 10,000   $ 25,000
Annual Fee for Committee Chairmanships:     —   $ 5,000
Attendance for Board Meetings (includes telephonic attendance):   $ 2,500   $ 2,500
Attendance by Committee Member at Committee Meeting (includes telephonic attendance):   $ 1,000   $ 1,000

All reasonable out-of-pocket travel expenses, which are incurred in connection with Board and Committee meetings will be reimbursed.

In addition, the Outside Directors will receive stock grants in the future.



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    EXHIBIT 10.13
COMPENSATION TO OUTSIDE DIRECTORS