2007 Director Compensation Schedule for Monroe Bancorp and Monroe Bank

Summary

This document outlines the 2007 compensation plan for directors of Monroe Bancorp and Monroe Bank. Directors, except 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 defer their fees into a company-established trust, with investments directed by the participant. The plan was approved by the Compensation Committee on December 7, 2006.

EX-10.XI 2 ex10-xi.txt Exhibit 10(xi) 2007 Schedule of Director Compensation -------------------------------------- On December 7, 2006, the Company's Compensation Committee approved the following 2007 compensation for the Company's directors: 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 in various mutual funds or Monroe Bancorp common stock at the participant's direction.