Greater Bay Bancorp 2005 Director Annual Fee Schedule
This document outlines the annual fees and meeting compensation for non-management directors of Greater Bay Bancorp and its subsidiaries, as approved by the Board on May 31, 2005. It specifies annual retainers, per-meeting fees, and additional compensation for serving as Chairman, Vice Chairman, or on various committees. Directors may also receive fees for special meetings and are eligible for awards under the company's stock option plan. The schedule applies to service on both the parent company and subsidiary boards, including specific committees.
EXHIBIT 10.3
SUMMARY 2005 DIRECTOR FEE SCHEDULE
On May 31, 2005, the Greater Bay Bancorp Board of Directors approved annual fees for directors (except management directors) for service on the Boards of Greater Bay Bancorp and its subsidiaries, including the Committees thereof, as follows:
| Annual retainer | $ | 9,000 | |
| Fee per regular Board meeting attended | 500 | ||
| Chairman fee | 15,000 | ||
| Vice Chairman fee | 8,000 | ||
| Executive Committee | 18,000 | ||
| Audit Committee | 14,000 | ||
| Compensation Committee | 12,000 | ||
| Board Governance & Nominating Committee | 4,000 | ||
| Asset Liability Management Committee | 5,000 | ||
| Committee Chair fees: | |||
| Executive | 18,000 | ||
| Audit | 30,000 | ||
| Compensation | 12,000 | ||
| Board Governance & Nominating | 4,000 | ||
| Asset Liability Management | 8,000 | ||
| Subsidiary Boards: | |||
| Greater Bay Bank, N.A. | |||
| Annual Retainer | 9,000 | ||
| Fee per regular Bd. meeting attended | 500 | ||
| Chairman fee | 15,000 | ||
| Loan Committee | 12,000 | ||
| Marketing Committee | 4,000 | ||
| Asset Liability Management Committee | 5,000 | ||
| Trust Oversight Committee | 4,000 | ||
| Committee Chair fees: | |||
| Marketing | 4,000 | ||
| Loan | 12,000 | ||
| Trust Oversight | 4,000 | ||
| Asset Liability Management | 8,000 | ||
| ABD Board retainer | 2,0001 |
| 1 | One non-management director of Greater Bay Bancorp serves on the Board of ABD. |
At the discretion of the Committee chairs, members of the Committees may also receive fees for special meetings attended. In addition, Directors are eligible to receive awards under the Amended and Restated 1996 Stock Option Plan.
