Eastern Virginia Bankshares, Inc. Schedule of Non-Employee Directors’ Annual Compensation (2015)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the annual compensation for non-employee directors of Eastern Virginia Bankshares, Inc. as of January 1, 2015. It specifies meeting fees, monthly retainers for committee chairs and members, and an annual stock grant of 500 unrestricted shares. The compensation structure covers both Company and EVB board and committee meetings, with certain allowances for absences and special provisions for joint meetings and teleconferences. The agreement ensures directors are compensated for their service and participation in board and committee activities.

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EX-10.19 3 v403911_ex10-19.htm EXHIBIT 10.19

 

Exhibit 10.19

  

Eastern Virginia Bankshares, Inc. (the “Company”)

Schedule of Non-Employee Directors’ Annual Compensation

  

As of January 1, 2015

  

Meeting Fees (1)(2)(3)     
Per Company Board Meeting  $300 
Per Company Committee Meeting  $300 
Per EVB Board Meeting  $500 
Per EVB Committee Meeting (4)  $300 

 

Monthly Retainers     
Chairman of the Company’s Audit and Risk Oversight Committee  $300 
Other members of the Company’s Audit and Risk Oversight Committee  $200 
Chairman of the EVB Board  $500 

 

Annual stock grant to non-employee directors: 500 unrestricted shares of the Company’s common stock.

 

(1)Each director of the Company’s Board of Directors is also a member of the Board of Directors of EVB.
(2)For meetings of the Company’s Board of Directors and EVB’s Board of Directors, directors are permitted one paid absence per year.
(3)For joint meetings of the Company’s Board of Directors and EVB’s Board of Directors, the Chairman of the Company’s Board of Directors may, in his sole discretion, determine to pay each director of the Company a meeting fee of $150, rather than a meeting fee of $300. Each member of EVB’s Board of Directors would still receive a meeting fee of $500.
(4)Each member of the Loan Committee of EVB receives $150 for each teleconference of the Loan Committee between regularly scheduled Loan Committee meetings.