2010 Schedule of Director Compensation for Monroe Bank and Company Directors

Summary

This document outlines the compensation plan for directors of Monroe Bank and its parent company for the 2010 fiscal year. Directors, excluding the Chairman, receive $800 per board meeting and $500 per committee meeting, with higher fees for committee chairs. The Chairman receives a fixed annual fee of $38,000. Directors can choose to defer their fees into a trust, where funds are invested as directed by the participant.

EX-10.XI 2 ex10-xi.txt EXHIBIT 10.(XI) Exhibit 10(xi) 2010 Schedule of Director Compensation -------------------------------------- On December 17, 2009, the Compensation Committee approved the following compensation for the directors of the Company and Monroe Bank (the "Bank") for the fiscal year ending December 31, 2010: 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 $800 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.