2005 Schedule of Director Compensation for the Company and the Bank

Summary

This document outlines the 2005 compensation plan for directors of the Company and the Bank. Directors, except the Chairman, receive $750 per board meeting and $450 per committee meeting, with higher fees for committee chairs. The Chairman receives a fixed annual fee of $36,000 and no additional meeting fees. Directors can defer their fees into a trust, with investments directed by the participant. The plan distinguishes between inside and outside directors and specifies compensation for various roles and meeting types.

EX-10.XI 2 ex10-xi.txt Exhibit 10(xi) 2005 Schedule of Director Compensation In 2005, the directors of the Company and the Bank other than the Chairman of the Board are compensated for their services in the amount of $750 per board meeting held. All directors, other than inside directors, also receive a fee of $450 for each committee meeting held. The Chair of the Audit Committee receives a fee of $1,800 for each Audit Committee meeting held. All other committee chairpersons receive $600 for each committee meeting held. The Chairman of the Board of Directors receives an annual fee of $36,000 and does 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 at the participant's direction.