Non-Employee Director Compensation Policy for Fiscal 2005
This policy outlines the compensation for non-employee directors of the company for the 2005 fiscal year. It specifies the annual fees paid to each non-employee director, with amounts varying by individual and role. In addition to monetary compensation, non-employee directors receive health and life insurance benefits, including an optional $500,000 life insurance policy. Directors who are also company employees do not receive these fees. No additional fees are paid for attending committee meetings.
Exhibit 10.1
Non-Employee Director Compensation Policy
The following table sets out fees to be paid to non-employee directors of our Company for their services as Board members during Fiscal 2005:
| Name |
| Amount |
| ||
| Kristine Hughes (Chairperson) |
| $ | 132,292 |
| |
| Pauline Hughes Francis |
| $ | 49,762 |
| |
| Franz L. Cristiani |
| $ | 31,500 |
| |
| Richard G. Hinckley |
| $ | 35,500 |
| |
Non-employee directors also receive health and life insurance coverage. Board members have the option to receive life insurance coverage in the amount of $500,000. We do not pay any fees for attendance at Committee meetings. Board members who are also employees of our Company do not receive any directors’ fees.
