IEC Electronics Corp. Summary of Modifications to Compensationfor Independent Directors
EX-10.34 8 v327252_ex10-34.htm EXHIBIT 10.34
Exhibit 10.34
IEC Electronics Corp.
Summary of Modifications to Compensation for Independent Directors
On November 21, 2012, upon recommendation of the Compensation Committee the Board of Directors of IEC Electronics Corp. (the “Company”) approved the following increases in the compensation payable to the Company’s non-employee directors, to be effective on the date of the 2013 annual meeting of stockholders:
| Existing Compensation | Modified Compensation | |||||||
| Annual Cash Retainer | $ | 24,000 | $ | 32,000 | ||||
| Telephone Meeting Supplement | $ | 1,000 | $ | 1,000 | ||||
| Annual Restricted Stock Grant | $ | 20,000 | $ | 25,000 | ||||
| Per Quarterly Meeting Stock Grant | $ | 4,000 | $ | 4,000 | ||||
| Total | $ | 49,000 | $ | 62,000 | ||||
| Additional Committee Chair Cash Retainer | $ | 4,000 | $ | 8,000 | ||||
