Hungarian Telephone and Cable Corp. Board of Directors Compensation Summary
This document outlines the compensation structure for members of the Board of Directors of Hungarian Telephone and Cable Corp. Directors receive 2,000 shares of stock vesting after a one-year term, a $10,000 annual retainer paid quarterly, and additional fees for attending meetings ($1,000 for in-person, $500 for telephone). Audit Committee Chairmen receive an extra $10,000 annual retainer, and all Audit Committee members earn additional fees for meetings. The agreement specifies the payment terms and conditions for board and committee service.
Exhibit 10.5
Hungarian Telephone and Cable Corp.
Board of Director Compensation
Board Service
2,000 shares of stock vesting after one-year term
$10,000 retainer payable in quarterly installments
$1,000 per in person meeting
$500 per telephone meeting
Audit Committee Service - Chairman
$10,000 retainer payable in quarterly installments
Audit Committee Service - Chairman and Non-Chairmen
$1,000 per in person meeting
$500 per telephone meeting
