ITLA Capital Corporation 2007 Director Fee Arrangements
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Summary
This agreement outlines the compensation for non-employee directors of ITLA Capital Corporation for 2007. Directors receive $1,000 for each board or committee meeting attended and a monthly retainer of $2,250. The Audit Committee Chairman, Preston Martin, receives an additional annual retainer of $15,000. Directors may also receive honorariums for extra work, as detailed for specific directors in 2006. The arrangement specifies the structure and amounts of director compensation for their service and additional contributions to the company.
EX-10.19 4 ex10_19.htm EXHIBIT 10.19 Exhibit 10.19
Exhibit 10.19
Director Fee Arrangements
Fees for the non-employee directors of ITLA Capital Corporation (the “Company”) for 2007 will continue to be $1,000 per Board or board committee meeting attended, plus a monthly retainer of $2,250. In addition, Preston Martin, the Chairman of the Audit Committee, will receive an annual retainer of $15,000 for his service in that capacity. Individual directors may also receive honorariums for additional work performed on behalf of the Company. The honorariums paid to directors for 2006 were as follows: (i) an honorarium of $5,000 to Director Robert Reed for his active assistance with legislative matters; (ii) an honorarium of $5,000 to Director Jeffrey Lipscomb for his Chairmanship of the Compensation Committee and active assistance with compensation matters; and (iii) an honorarium of $15,000 to Director Hirotaka Oribe for his extensive work with the Executive Committee and large loan approval process.
