Summary of Director Compensation for Independent Board Members and Committee Chairpersons
This document outlines the compensation structure for independent board members and committee chairpersons. Independent board members receive an annual retainer of $20,000 and $1,000 per board or committee meeting attended. Additional annual retainers are provided to chairpersons: $5,000 for the Compensation and Nominating and Corporate Governance Committees, and $7,500 for the Audit Committee. These chairperson fees are paid on top of the standard board member compensation. The Board may also grant restricted stock, stock options, or other equity awards to directors.
Exhibit 10.1
Summary of Director Compensation
| Director Category | Annual Retainer | Compensation per Board or Committee Meeting | ||||
| Independent Board Members | $ | 20,000 | $ | 1,000 | ||
| Compensation Committee Chairperson* | $ | 5,000 | ||||
| Nominating and Corporate Governance Committee Chairperson* | $ | 5,000 | ||||
| Audit Committee Chairperson* | $ | 7,500 | ||||
| * | These fees are in addition to any fees payable as an independent board member. In addition, the Board has granted, and may grant in the future, restricted stock, stock options or other equity compensation to directors. |
