Non-Employee Director Compensation Summary Sheet
This document outlines the compensation structure for non-employee directors of the company. It specifies an annual retainer of $35,000 and additional payments for attending various types of meetings, such as board, special, telephonic, and committee meetings. Chairpersons receive extra fees, with the Audit Committee Chairperson receiving a higher amount. The summary provides clear details on how directors are compensated for their service and participation in company governance.
EXHIBIT 10.8
Non-Employee Director Compensation Summary Sheet
Annual Retainer | $ | 35,000 | |
Type of Meeting | Amount Paid per Meeting | ||
Board Meeting | $ | 3,500 | |
Special Meeting | $ | 3,500 | |
Telephonic Board Meeting | $ | 1,000 | |
Compensation & Nominating Committee Meeting | $ | 1,500 | |
Audit Committee Meeting | $ | 3,000 | |
Executive Committee Meeting | $ | 3,500 | |
Additional Fee for Chairperson (except Audit) | $ | 1,500 | |
Additional Fee for Audit Committee Chairperson | $ | 2,000 |