Mercury General Corporation 2005 Board and Committee Compensation Schedule
This document outlines the updated compensation structure for Mercury General Corporation's Board of Directors and its committees for the year 2005. It details the fees and retainers paid to board members and committee chairs, including quarterly retainers, per meeting fees, and annual retainers for specific roles. The schedule compares prior fees to current fees, specifying increases and new compensation items for committee chairs. The agreement ensures transparency in director and committee compensation for the specified period.
Exhibit 10.1
MERCURY GENERAL CORPORATION BOARD FEES
YEAR 2005
| PRIOR FEES | CURRENT FEES | |||||
| Board of Directors Quarterly Retainer | $ | 2,500 | $ | 3,000 | ||
| Board of Directors Per Meeting Fee | $ | 2,500 | $ | 3,000 | ||
| Audit Committee Per Meeting Fee | $ | 2,000 | $ | 2,500 | ||
| Audit Committee Chair Annual Retainer | none | $ | 1,500 | |||
| Nominating/Corporate Governance Committee Per Meeting Fee | $ | 1,000 | $ | 1,000 | ||
| Nominating/Corporate Governance Committee Chair Per Meeting Fee | none | $ | 1,500 | |||
| Nominating/Corporate Governance Committee Chair Annual Retainer | none | $ | 1,500 | |||
| Compensation Committee Per Meeting Fee | $ | 500 | $ | 500 | ||
| Compensation Committee Chair Compensation | $ | 100 per hour | $ | 150 per hour | ||
