FargoElectronics, Inc. 2006 Non-Employee Director Compensation Summary
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EX-10.3 4 a06-5936_2ex10d3.htm MATERIAL CONTRACTS
Exhibit 10.3
Fargo Electronics, Inc.
2006 Non-Employee Director Compensation Summary
The Board of Directors of Fargo Electronics, Inc. approved the following fee schedule to be effective January 1, 2006 for non-employee directors:
| Annual Retainer |
| $ | 20,000 |
|
| Lead Director |
| $ | 8,000 |
|
| Audit Committee chair |
| $ | 7,000 |
|
| Audit Committee members |
| $ | 3,000 |
|
| Other Committee chairs |
| $ | 3,000 |
|
| Other Committee members |
| $ | 2,000 |
|
The Board also approved a grant of 2,100 shares of restricted stock to each non-employee director on the date of Fargo’s 2006 annual meeting. These shares will vest ratably on a cumulative basis on the first three anniversaries of the grant date.
All cash compensation will be paid quarterly.
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