2005 Board Compensation Policy Summary

Contract Categories: Human Resources - Compensation Agreements
EX-10.2 3 dex102.htm 2005 BOARD COMPENSATION POLICY SUMMARY 2005 Board Compensation Policy Summary

Exhibit 10.2

 

2005 Board Compensation Policy Summary

 

Cash Compensation:

 

Meetings

    2004
Amount Per
Meeting
    No. of
Meetings
(FY 2004)
    2005
Amount Per
Meeting

Board

           5       

Chair

    $ 7,000         $ 7,000

Member

    $ 5,000         $ 5,000

Audit Committee

           5       

Chair*

    $ 5,000         $ 2,500

Member

    $ 1,500         $ 1,500

Governance & Nominating Committee

           5       

Chair

    $ 1,500         $ 2,500

Member

    $ 1,000         $ 1,000

Compensation Committee

           1       

Chair

    $ 1,500         $ 2,500

Member

    $ 1,000         $ 1,000

 

* For 2005, the Chair will also receive $10,000 per quarter in addition to the $2,500 meeting fee.

 

Other Compensation:

     

Automatic Options:

     

New Director Grant (1 in FY 2004)

      10,000 options

Continuing Director Grant (4 in FY 2004)

        2,500 options

Continuing Chair Grant (1 in FY 2004)

        3,750 options

Discretionary Options:

     

Continuing Director Grant (4 in FY 2004)

        5,000 options

Continuing Chair Grant (1 in FY 2004)

        6,250 options

Stock Bonus Award:

     

Director Award (5 in FY 2004)

    $25,000 (1,248 shares in 2004)

Chair Award (1 in FY 2004)

    $30,000 (1,497 shares in 2004)