Summary of Outside Director Compensation Program
Exhibit 10.4
Summary of Outside Director Compensation Program
Annual Retainers
| Director | $40,000 | Paid quarterly at beginning of quarter |
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| Chair of Audit Committee | +$15,000 | Paid quarterly |
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| Chair of Compensation Committee | +$10,000 | Paid quarterly |
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| Chair of Nominating and Governance Committee | +$7,500 | Paid quarterly |
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| Non-chair Audit Committee member | +$5,000 | Paid quarterly |
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| Non-chair Compensation Committee member | +$5,000 | Paid quarterly |
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| Non-chair Nominating and Governance Committee member | +$4,000 | Paid quarterly |
Note: All travel expenses paid based on voucher.
| STOCK COMPENSATION: | $40,000/year; each grant subject to one year vesting; stock compensation granted in May of each year. |
Note: For subsequent new Board members who join Board mid-year, cash and stock compensation is pro-rated.
