Gyrodyne, LLC Director Compensation Agreement
This agreement outlines the compensation structure for members of the board of directors of Gyrodyne, LLC. Each director receives an annual fee of $42,000, paid monthly, covering attendance at all board and committee meetings. The Chairman receives an additional $78,000 per year, totaling $120,000 annually. Directors are also reimbursed for travel and other business-related expenses.
Exhibit 10.4
Compensation of Directors
Compensation of members of the board of directors of Gyrodyne, LLC is structured as a flat annual fee payable monthly. The annual director fee payable to each director is $42,000 per year (which includes attendance at board meetings and committee meetings). In addition, the Chairman also receives a fee equal to $78,000 per year for total compensation of $120,000 per year. Directors are entitled to be reimbursed for travel and other expenses related to company business.
