Non-Employee Director Compensation Policy for Fiscal 2008
This policy outlines the compensation for non-employee directors of the company for the 2008 fiscal year. It specifies the annual fees paid to each non-employee director, provides for health and life insurance coverage (with an optional $500,000 life insurance policy), and clarifies that no additional fees are paid for committee meeting attendance. Directors who are also company employees do not receive these fees.
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 2008:
| Name |
| Amount |
| |
| Kristine F. Hughes (Chairperson) |
| $ | 145,962 |
|
| Pauline Hughes Francis |
| $ | 54,801 |
|
| Robert K. Bowen |
| $ | 38,625 |
|
| Larry A. Deppe |
| $ | 42,655 |
|
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.
