2010 Schedule of Director Compensation for Company and Bank Board Members

Summary

This document outlines the compensation structure for directors of the Company and the Bank in 2010. Non-Chairman directors receive $600 per board meeting, and non-inside directors get $500 per committee meeting. The Audit Committee Chair receives $2,000 per meeting, while other committee chairs receive $650. The Chairman of the Board receives a fixed annual fee of $38,000 with no additional meeting fees. Directors can defer their fees into a trust, with investments directed by the participant.

EX-10.(XI) 2 ex-10xi.txt EXHIBIT 10.(XI) Exhibit 10(xi) 2010 Schedule of Director Compensation -------------------------------------- The directors of the Company and the Bank other than the Chairman of the Board will be compensated for their services in the amount of $600 per board meeting held. All directors, other than inside directors, also will receive a fee of $500 for each committee meeting held. The Chair of the Audit Committee will receive a fee of $2,000 for each Audit Committee meeting held. All other committee chairpersons will receive $650 for each committee meeting held. The Chairman of the Board of Directors will receive an annual fee of $38,000 and will not receive any additional compensation for meetings attended. Directors may defer receipt of fees into a grantor trust established by the Company. Amounts which are deferred are invested by the trust in various mutual funds or Company common stock at the participant's direction.