NovaStar Financial, Inc. 2004 Supplemental Compensation Agreement for Independent Directors
This agreement outlines the supplemental compensation for independent directors of NovaStar Financial, Inc. for the 2004 fiscal year. Independent directors will receive an annual retainer of $10,000, a $500 fee for each board or committee meeting attended, and additional annual retainers of $10,000 for the Audit Committee Chairperson and $5,000 for the Compensation and Nominating and Corporate Governance Committee Chairpersons.
Exhibit 10.29
NOVASTAR FINANCIAL, INC.
2004 SUPPLEMENTAL COMPENSATION FOR INDEPENDENT DIRECTORS
The following sets forth the items of supplemental compensation to be paid to the independent directors of NovaStar Financial, Inc. with respect to service rendered in the fiscal year 2004
| Supplemental Amount | |||
| Annual Retainer: | $ | 10,000 | |
| Daily Fee Per Board and/or Committee Meeting Attended in Person or by Electronic Medium: | $ | 500 | |
| Annual Audit Committee Chairperson Retainer: | $ | 10,000 | |
| Annual Compensation Committee and Nominating and Corporate Governance Committee Chairperson Retainer: | $ | 5,000 | |
