Schedule of Director Fees
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. |
