USBI and FUSB Non-Employee Director and Committee Fee Schedule
This document outlines the compensation structure for non-employee directors of USBI, FUSB, ALC, and FUSB Reinsurance, Inc. It specifies monthly fees, per-meeting attendance fees, and additional compensation for chairpersons of various committees. Non-employee directors are also eligible for mileage reimbursement and expense reimbursement for approved bank-related activities. The agreement ensures directors are compensated for their participation and related expenses according to established bank policies.
Exhibit 10.20
USBI and FUSB
BOARD and COMMITTEE FEES
USBI Fees to Non-Employee Directors Monthly:
| Non-Employee Directors | $ 600 | |
| Chairperson | $1,350 ($600 + $750) | |
| Attendance Fee | $ 500 Per Meeting Attended |
FUSB Board Fees Monthly:
| Non-Employee Directors | $ | 400 |
Committee Fees, Paid Per Meeting Attended:
| Non-Employee Directors of All Committees | $ | 250 | ||
| Chairperson, Audit | $ | 400 | ||
| Chairperson, Compensation | $ | 400 | ||
| Chairperson, Nominating, Executive & Corporate Governance | $ | 400 | ||
| Chairperson, ALC Board | $ | 400 |
Board Fees for Directors of ALC and FUSB Reinsurance, Inc.:
| Non-Employee Directors | $ | 250 Per Meeting Attended |
Mileage:
Any non-employee director attending a board, committee, or special meeting outside the county in which he/she resides, will be paid mileage at the Bank’s rate. Any officer or employee will be paid mileage if a company vehicle is not assigned to the respective employee.
Other Expense:
Any non-employee director that may incur expense for travel, customer entertainment or other such bank-related expense shall complete the Bank’s standard reimbursement claim form and submit it to the CEO. If approved by the CEO, the non-employee director will be reimbursed for such bank- related expense according to existing Bank policy.
Any non-employee director attending a training meeting, or similar meeting, will be compensated as attending a committee meeting ($250).
