PC Connection, Inc. 2005 Non-Employee Director Compensation Summary
PC Connection, Inc. outlines the compensation for its non-employee directors, Bruce Barone, Joseph Baute, and Donald Weatherson, for 2005. Non-employee directors received an annual retainer, fees for attending board and committee meetings, and reimbursement for reasonable expenses related to meeting attendance. No stock options were granted to these directors in 2005. The agreement specifies the amounts paid for each type of compensation and notes a pro-rated retainer for a director who joined mid-year.
Exhibit 10.56
Summary Compensation for Non-Employee Directors
PC Connection, Inc.’s (the “Company’s”) non-employee directors currently consist of: (i) Bruce Barone; (ii) Joseph Baute; and (iii) Donald Weatherson. In 2005, non-employee directors of the Company received an annual retainer. In addition to this retainer, non-employee directors were entitled to receive a fee for each regularly scheduled board meeting attended in person and a fee for each committee meeting attended. The table below sets forth the annual retainer, per board meeting fees and per committee meeting fees paid to our non-employee directors in 2005:
| Director | Annual Retainer(1) | Fee Per Board Meeting Attended | Fee Per Committee Meeting Attended(3) | |||||||
| Bruce Barone | $ | 22,000 | $ | 1,500 | $ | 1,500 | ||||
| Joseph Baute | $ | 22,000 | $ | 1,500 | $ | 1,500 | ||||
| Donald Weatherson | $ | 12,833 | (2) | $ | 1,500 | $ | 1,500 | |||
| (1) | In addition, the non-employee directors receive reimbursement for all reasonable expenses incurred in attending board and committee meetings. |
| (2) | Represents the pro-rata portion of a $22,000 annual retainer commencing on June 9, 2005. |
The Company did not grant any stock options to non-employee directors in 2005.
