SCHEDULE OF NON-EMPLOYEE DIRECTORS ANNUAL COMPENSATION EFJ, INC. BOARD OF DIRECTORS 2007AND 2008
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EX-10.28 6 dex1028.htm SCHEDULE OF DIRECTOR COMPENSATION Schedule of Director Compensation
EXHIBIT 10.28
SCHEDULE OF NON-EMPLOYEE DIRECTORS’ ANNUAL COMPENSATION
EFJ, INC. BOARD OF DIRECTORS 2007 AND 2008
| Board of Directors’ Quarterly Retainer | $7,500 | |
| Audit Committee Quarterly Retainer | $1,750 | |
| Audit Committee Chairperson Quarterly Retainer | $1,250 | |
| Non-Audit Committee Quarterly Retainer | $1,250 | |
| Non-Audit Committee Chairperson Quarterly Retainer | $750 | |
| 1999 Non-Employee Director Stock Purchase Plan | Each Eligible Non-Employee Director may elect to receive EFJ, Inc. common stock in lieu of cash board compensation, under the 1999 Non-Employee Director Stock Purchase Plan. The amount of common stock is determined upon the means the average of the closing price of a share of Common Stock during the last 10 trading days preceding the last business day of the Quarter. | |
On March 7, 2008, the Board of Directors of the Company approved a new schedule of director fees.
Each director shall receive an annual retainer of $42,000.00. In addition, the Chair of the Audit Committee, Compensation Committee and Nominating and Governance Committee shall receive as additional annual compensation, $7,000.00, $5,000.00 and $5,000.00, respectively.
