the identification of qualified candidates to become board members
EX-10.1 2 a13615exv10w1.htm EXHIBIT 10.1 Exhibit 10.1
Exhibit 10.1
INTERCHANGE CORPORATION
Board of Directors Compensation Plan
Effective 1/1/05
Amended 10/14/05
Board of Directors Compensation Plan
Effective 1/1/05
Amended 10/14/05
Non-employee Director Compensation: | ||
Annual retainer | $20,000.00 | |
Board of Director’s meeting attended in person | $1,500.00 per meeting | |
Board of Director’s meeting attended telephonically | $750.00 per meeting | |
Audit Committee Chairman annual retainer | $10,000.00 | |
Nominating, Compensation and Governance Committee Chairmen annual retainer | $7,500.00 | |
Committee meeting attended | $1,200.00 per meeting | |
Stock Option Grants (all Directors): | ||
Annual Grant | 15,000 shares | |
Grant to new Director’s (first year) | 20,000 shares |
New Directors will also receive a pro-rata amount of the Annual Grant.
Stock options vest 50% at the time of grant, and the remaining portions vest in equal amounts over the next twelve months.
