German American Bancorp, Inc. Director Compensation Policy (2008)
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Summary
German American Bancorp, Inc. compensates its directors, including the CEO, with a $16,000 annual cash retainer and a $500 fee for each board meeting attended during the 2008–2009 term. Directors (excluding the CEO) who also serve on subsidiary boards receive additional fees: $500 per meeting for the bank subsidiary or regional advisory boards, and $250 per meeting for the financial advisors and insurance subsidiaries. This policy was approved by the Board following a recommendation from the Governance/Nominating Committee.
EX-10.2 3 v121914_ex10-2.htm
Exhibit 10.2
German American Bancorp, Inc. (the "Company"), compensates its directors for their service to the Company and the Company's subsidiaries based on a twelve-month period commencing with each year's annual reorganization meeting of the Board. The Governance/Nominating Committee made a recommendation with respect to director compensation to the Board and the Board approved such recommendation at its annual reorganization meeting on May 7, 2008.
For services of directors during the current annual period that commenced at the 2008 annual meeting, the Company is compensating its directors, including the CEO, through an annual retainer of $16,000 paid in cash during June 2008 in a lump sum (which is earned regardless of the number of meetings held or attended, and regardless of committee membership or attendance) and is paying an additional attendance fee of $500 for each meeting of the Board that they attend during this period.
In addition, those members of the Board (other than the CEO, who as a salaried employee of the Company is ineligible) who serve on the board of directors (including any regional advisory board) of at least one of the subsidiaries receives additional compensation for his or her service to such subsidiaries in the form of director/advisory fees for meetings actually attended of (i) $500 per meeting of the board of directors of German American Bancorp (our bank subsidiary) or of any regional advisory board, and (ii) $250 per each meeting of the board of directors of German American Financial Advisors & Trust Company and German American Insurance, Inc.
