Non-Employee Director Compensation Policy
This document outlines the compensation structure for non-employee directors of the company. It specifies annual restricted stock grants and cash payments for board members, the board chairman, and members and chairmen of the Corporate Governance, Audit, and Compensation Committees. Compensation includes both stock grants with a one-year vesting period and quarterly cash payments, with amounts varying by role and committee position.
Exhibit 10.4
NON-EMPLOYEE DIRECTOR COMPENSATION
| • Board membership |
| $50,000 restricted stock grant with a 1 year vesting period |
| • Board Chairman |
| $20,000 restricted stock grant with a 1 year vesting period and $48,000 per year (paid $12,000 per quarter) cash compensation |
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| • Corporate Governance Committee Members |
| $20,000 per year (paid $5,000/quarter) cash compensation |
| • Corporate Governance Committee Chairman |
| $45,000 per year (paid $11,250/quarter) cash compensation |
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| • Audit Committee Members |
| $20,000 per year (paid $5,000/quarter) cash compensation |
| • Audit Committee Chairman |
| $40,000 per year (paid $10,000/quarter) cash compensation |
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| • Compensation Committee Members |
| $8,000 per year (paid $2,000/quarter) cash compensation |
| • Compensation Committee Chairman |
| $20,000 per year (paid $5,000/quarter) cash compensation |
