Summary Schedule of Director Compensation for Greater Bay Bancorp
This document outlines the compensation structure for non-management directors of Greater Bay Bancorp. Directors receive an annual retainer, additional fees for attending board and committee meetings, and extra compensation for serving as committee chairs or officers such as Chairman or Vice Chairman. Directors are also eligible for awards under the company's stock option plan. The schedule specifies the exact amounts for each role and committee, as well as special notes for certain positions and committees.
Exhibit 10.27
Summary Schedule of Director Compensation
Directors of Greater Bay Bancorp (except management directors) receive annual fees for service on the Board and Committees thereof, as follows:
| Annual retainer | $ | 22,000 | ||
| Fee per regular Board meeting attended | 666 | |||
| Chairman fee | 60,000 | (1) | ||
| Vice Chairman fee | 12,000 | |||
| Executive Committee | 22,000 | |||
| Audit Committee | 14,000 | |||
| Compensation Committee | 4,000 | |||
| Board Governance & Nominating Committee | 2,000 | |||
| Directors ALCO | 10,000 | |||
| Marketing Committee (1) | 2,000 | |||
| Directors Loan Committee (2) | 18,000 | |||
| Trust Oversight Committee (3) | 4,000 | |||
| Committee Chair fees: | ||||
| Executive | (1) | |||
| Audit | 15,000 | |||
| Compensation | 10,000 | (2) | ||
| Board Governance & Nominating | (2) | |||
| Directors ALCO | 16,000 | |||
| Marketing (3) | 6,000 | |||
| Directors Loan (3) | (1) | |||
| Trust Oversight (3) | 4,000 | |||
| ABD Board retainer (4) | 2,000 |
Directors of Greater Bay Bancorp are also eligible to receive awards under the Amended and Restated 1996 Stock Option Plan.
| (1) | Represents fees for service as Chairman of the Board and Chair of the Executive and Loan Committees. |
| (2) | The Chair of the Compensation Committee and the Board Governance & Nominating Committee receives $10,000 for service as Chair of both committees. |
| (3) | Committees of Greater Bay Bank, N.A. |
| (4) | Two directors of Greater Bay Bancorp serve on the ABD Board. |
