Fargo Electronics, Inc. 2005 Non-Employee Director Compensation Summary
Fargo Electronics, Inc. established a compensation plan for its non-employee directors effective January 1, 2005. Under this plan, non-employee directors receive an annual retainer and additional fees for serving as lead director, committee chairs, or committee members. Directors are also granted stock options for 5,000 shares each at the annual meeting. All cash payments are made quarterly. This summary outlines the compensation structure and benefits for non-employee board members.
Exhibit 10.2
Fargo Electronics, Inc.
2005 Non-employee Director Compensation Summary
The Board of Directors of Fargo Electronics, Inc. approved the following fee schedule to be effective January 1, 2005 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 stock option grant of 5,000 shares per non-employee director on the date of the annual meeting.
All cash compensation will be paid quarterly.
