DIRECTORS COMPENSATION POLICY EFFECTIVE FROM AND AFTER FEBRUARY 22, 2006
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EX-10.111.1 3 dex101111.htm DIRECTORS' COMPENSATION POLICY Directors' Compensation Policy
EXHIBIT 10.111.1
DIRECTORS’ COMPENSATION POLICY
EFFECTIVE FROM AND AFTER FEBRUARY 22, 2006
MSCC Board Compensation
| Annual Retainer | |||
| Chair | $ | 45,000 | |
| Director | $ | 25,000 | |
| Board-meeting Fees | |||
| Chair/meeting | $ | 2,700 | |
| Director/meeting | $ | 1,800 | |
| Committee-Meeting Fees | |||
| Audit Committee | |||
| Chair/meeting | $ | 2,400 | |
| Member/meeting | $ | 1,200 | |
| Comp Committee | |||
| Chair/meeting | $ | 1,800 | |
| Member/meeting | $ | 1,200 | |
| Gov and Nom Committee | |||
| Chair/meeting | $ | 1,800 | |
| Member/meeting | $ | 1,200 |
| Telephonic Meetings | 60% of the applicable fee above | |
| Stock Option Grants | ||
| Grants Effective on the Last Business Day of the Fiscal Year: | ||
| Annual Grants to Existing Directors | 20,000 shrs. under vested, 6-year option | |
| Grants Effective on the Day of the Annual Meeting: | ||
| Initial Grants to New Directors | 40,000 shrs. under vested, 6-year option | |
| Additional Grant to Chairman | 20,000 shrs. under vested, 6-year option | |
