Change in Non-Executive Chairman's Compensation Agreement (Effective January 2008)
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Summary
This agreement outlines changes to the compensation of the company's non-executive Chairman, effective January 2008. The Chairman will receive an annual stock bonus valued at $200,000, determined at the company's annual general meeting. The Chairman will not receive cash compensation for serving on Board committees but will continue to receive all other compensation provided to non-employee directors.
EX-10.03 4 d53624exv10w03.htm EXHIBIT 10.03 CHANGE IN NON-EXECUTIVE CHAIRMAN'S COMPENSATION exv10w03
Exhibit 10.03
Change in Non-Executive Chairman’s Compensation
Effective January 2008, the non-executive Chairman will be entitled to receive a yearly stock bonus award consisting of such number of shares having an aggregate fair market value of $200,000 on the date of the company’s annual general meeting. The non-executive Chairman will not be eligible for cash compensation for service on any Board committees, but otherwise will be entitled to receive all other compensation paid to non-employee directors.
