Summary of Fiscal Year 2014 Director Compensation for Non-Employee Directors
This document outlines the compensation for the company's non-employee directors for fiscal year 2014. Each director receives a $1,000 cash payment for every Board meeting attended. Committee members receive an additional $1,000 retainer in the first quarter and $500 in each of the remaining quarters. The company also reimburses directors for reasonable expenses related to Board duties.
EXHIBIT 10.45
Summary of Fiscal Year 2014 Director Compensation
Each of the Company’s non-employee directors shall receive a cash retainer of $1,000 per Board of Directors meeting attended. In addition, members of the Audit, Personnel and Compensation, and Nominating and Governance Committees will be paid a $1,000 retainer during the first fiscal quarter and a $500 retainer during the second, third, and fourth fiscal quarters.
The Company shall also reimburse all directors for certain reasonable out-of-pocket expenses related to their attendance at Board meetings and performance of other services as Board members.
