Amended Outside Director Compensation Schedule for Non-Employee Directors

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the compensation for directors of the Corporation who are not employees or consultants. Effective July 1, 2001, these outside directors will receive $2,500 per meeting (with multiple meetings on the same day counted as one), a $1,000 annual retainer for serving as a committee chairman, and a one-time grant of stock options as determined by the Board. The agreement specifies the terms and conditions for compensating non-employee directors for their service.

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EX-10.1 3 c67479ex10-1.txt SCHEDULE OF OUTSIDE DIRECTOR FEES EXHIBIT 10.1 AMENDED OUTSIDE DIRECTOR COMPENSATION Adopted November 15, 2001 RESOLVED, that effective July 1, 2001, directors of the Corporation who are not employees of, or consultants to the Corporation or Bruckmann, Rosser, Sherrill & Co., Inc., shall be compensated as follows: (a) a fee of $2,500 per meeting (with all meetings that occur on the same day being considered as one meeting); and (b) an annual retainer of $1,000 for service as a committee chairman; and (c) a one-time grant of options to purchase common stock of the Corporation in such amount and at such price as may be approved by the Board.