International Aluminum Corporation Non-Employee Director Compensation Schedule (Effective July 1, 2005 and July 1, 2006)
This document outlines the compensation structure for non-employee directors of International Aluminum Corporation, effective July 1, 2005, with updated terms for July 1, 2006. It specifies quarterly retainers and meeting fees for board members and audit committee members, including higher compensation for chairpersons. The agreement details the amounts paid for each role and meeting attendance, ensuring transparency in director compensation.
Exhibit 10.3
INTERNATIONAL ALUMINUM CORPORATION
NON-EMPLOYEE DIRECTOR COMPENSATION
Effective July 1, 2005
| BOARD OF DIRECTORS FEES |
|
|
| |
| Quarterly Retainer – Chairman |
| $ | 37,500.00 |
|
| Quarterly Retainer |
| $ | 7,000.00 |
|
| Meeting Fees – Chairman |
| $ | 0.00 |
|
| Meeting Fees |
| $ | 500.00 |
|
|
|
|
|
| |
| COMMITTEE FEES |
|
|
| |
| Audit Committee Quarterly Retainer – Chair |
| $ | 3,000.00 |
|
| Audit Committee Quarterly Retainer – Member |
| $ | 2,000.00 |
|
| Meeting Fees – Chair |
| $ | 1,000.00 |
|
| Meeting Fees – Member |
| $ | 500.00 |
|
Effective July 1, 2006
| BOARD OF DIRECTORS FEES |
|
|
| |
| Quarterly Retainer – Chairman |
| $ | 37,500.00 |
|
| Quarterly Retainer |
| $ | 7,000.00 |
|
| Meeting Fees – Chairman |
| $ | 0.00 |
|
| Meeting Fees |
| $ | 1,000.00 |
|
|
|
|
|
| |
| COMMITTEE FEES |
|
|
| |
| Audit Committee Quarterly Retainer – Chair |
| $ | 5,000.00 |
|
| Audit Committee Quarterly Retainer – Member |
| $ | 2,000.00 |
|
| Meeting Fees – Chair |
| $ | 1,500.00 |
|
| Meeting Fees – Member |
| $ | 1,000.00 |
|
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