Interchange Corporation Board of Directors Compensation Plan (Effective 1/1/05, Amended 10/14/05 and 12/20/05)
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Summary
This plan outlines the compensation for non-employee directors of Interchange Corporation. Directors receive an annual retainer, additional fees for attending board and committee meetings, and extra retainers for serving as committee chairmen or lead director. Directors are also granted stock options, with specific amounts for annual grants and new directors. Stock options vest partially at grant and the remainder over the following year. The plan specifies compensation amounts and vesting schedules, ensuring clarity and transparency in director compensation.
EX-10.1 2 a15730exv10w1.htm EXHIBIT 10.1 exv10w1
Exhibit 10.1
INTERCHANGE CORPORATION
Board of Directors Compensation Plan
Effective 1/1/05
Amended 10/14/05
Amended 12/20/05
Board of Directors Compensation Plan
Effective 1/1/05
Amended 10/14/05
Amended 12/20/05
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 | |
Lead Director annual retainer | $12,500.00 | |
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.
