Summary of Director Compensation for Non-Employee Directors
This document outlines the compensation policy for the company's directors. Directors who are also company employees do not receive additional pay for board service. Non-employee directors receive a $20,000 annual retainer, with the Chairman of the Board receiving an extra $20,000. Retainers are paid quarterly. Non-employee directors also earn fees for attending board and committee meetings, with amounts ranging from $500 to $1,500 per meeting, depending on the committee.
Exhibit 10.15
SUMMARY OF DIRECTOR COMPENSATION
Directors who are also employees of the Company do not receive compensation for serving as directors. Non-employee directors receive an annual retainer in the amount of $20,000, and the Chairman of the Board receives an additional $20,000 annual retainer. Retainer fees are paid quarterly in arrears. Non-employee directors also receive cash compensation for full Board and committee meetings as follows:
| | | | | | |
| Per Meeting Fee | |||||
| Board of Directors | | $ | 1,500 | |||
| Audit Committee | | 1,000 | ||||
| Compensation Committee | | 500 | ||||
| Investment Committee | | 500 | ||||
| Nominating and Corporate Governance Committee | | 500 | ||||
| Special Committees | | 500 | ||||
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