Summary Sheet of Director Compensation for Board and Advisory Directors
This document outlines the current compensation structure for the company's directors and advisory directors, effective as of May 9, 2007. It details annual cash retainers for employee and non-employee directors, advisory directors, and committee members, as well as additional compensation for committee chairs and the presiding director. Directors also receive restricted stock and may defer their cash compensation through the company's Deferred Compensation Program. Compensation may be reduced for missed meetings unless absences are due to medical reasons.
Exhibit 10.2
SUMMARY SHEET OF DIRECTOR COMPENSATION
The following summary sets forth current rates of cash and other compensation for directors and advisory directors. Director compensation rates were last adjusted on May 9, 2007.
| Compensation Item | Current Compensation | ||
| Board Retainer | |||
| Employee Directors | $ | 3,000 | |
| Non-employee Directors | $ | 50,000 | |
| Non-employee Advisory Directors | $ | 21,000 | |
| Audit Committee | |||
| Chair Annual Retainer | $ | 12,000 | |
| Member Annual Retainer | $ | 8,000 | |
| Compensation Committee | |||
| Chair Annual Retainer | $ | 10,000 | |
| Member Annual Retainer | $ | 6,000 | |
| Nominating & Corporate Governance Committee | |||
| Chair Annual Retainer | $ | 5,000 | |
| Member Annual Retainer | $ | 4,000 | |
| Presiding Director Annual Retainer | $ | 12,000 | |
| Restricted Stock | $ | 70,000 | |
Board and committee retainers are subject to reductions for missed meetings, unless the absence was for medical reasons. Directors may defer their cash compensation by participating in the Company’s Deferred Compensation Program (filed December 11, 2006 as Exhibit 10.2 to the Company’s Current Report on form 8-K).
