Summary of Compensation for Non-Employee Directors Effective January 1, 2011
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Summary
This document outlines the compensation structure for non-employee directors of the company, effective January 1, 2011. Directors receive an annual retainer, meeting fees, additional retainers for committee chairs, and an annual equity grant in the form of restricted stock units. The equity grant for 2011 consists of 7,060 restricted stock units per director, vesting in full on December 31, 2011. The summary specifies the amounts and conditions for each type of compensation.
EX-10.54 2 ex10-54.htm EXHIBIT 10.54 ex10-54.htm
Exhibit 10.54
Summary of Compensation for Non-Employee Directors
Effective January 1, 2011
Annual Board Retainer $ 55,000
Board Meeting Fee $ 1,500 per meeting attended
Committee Chair Annual Retainer
Audit/Compensation/Executive $ 15,000
Committee Chair Annual Retainer
Other Committees $ 10,000
Committee Meeting Fee $ 1,500 per meeting attended
Annual Equity Grant (1) $125,000
| (1) | Granted in the form Restricted Stock Units effective January 25, 2011. Messrs. Bech, Kostelnik, Lee, Loyd, Rose and Myers each received 7,060 Restricted Stock Units which will vest in full on December 31, 2011. |
