Schedule of Director Fees for Non-Employee Board Members Effective June 13, 2006

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation for non-employee members of the company's Board of Directors, effective June 13, 2006. Each non-employee director receives a $2,000 quarterly retainer and additional fees for attending meetings: $1,000 for in-person board meetings, $500 for telephonic board meetings, and $500 for committee meetings. Directors are also entitled to reimbursement for reasonable out-of-pocket expenses related to meeting attendance.

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EX-10.3 4 l20878aexv10w3.htm EX-10.3 EX-10.3  

Exhibit 10.3

Schedule of Director Fees

     Effective June 13, 2006, members of the Board of Director’s shall be compensated as follows:

1.   Each non-employee member of the Company’s Board of Directors shall receive a quarterly retainer of $2,000.
 
2.   In addition to the quarterly retainer, each non-employee member of the Company’s Board of Directors will receive the following fees per meeting attended:
         
Meeting Type   Fee Per Meeting
Board Meeting
   $ 1,000  
Telephonic Board Meeting
   $ 500  
Committee Meetings
   $ 500  

3.   Each board member is entitled to reimbursement for all reasonable out-of-pocket expenses incurred in connection with his or her attendance at a board or committee meeting.