PC Connection, Inc. Summary of Compensation for Non-Employee Directors as of December 31, 2008
This document outlines the compensation structure for non-employee directors of PC Connection, Inc. as of December 31, 2008. Non-employee directors Bruce Barone, Joseph Baute, and Donald Weatherson each received a quarterly retainer of $10,000 and $2,500 for each board meeting attended, effective June 1, 2008. They also received $1,500 for each committee meeting attended and reimbursement for reasonable expenses related to meeting attendance. The agreement details the total fees paid in 2008 and the per-meeting compensation rates.
Exhibit 10.56
Summary of Compensation for Non-Employee Directors
As of December 31, 2008, PC Connection, Inc.’s (the “Company’s”) non-employee directors consisted of: (i) Bruce Barone; (ii) Joseph Baute; and (iii) Donald Weatherson. Effective June 1, 2008, each non-employee director received a standard quarterly retainer fee of $10,000 for service on the Board as well as $2,500 for each individual board meeting attended. Previously, each non-employee director was paid $9,000 per quarter and $1,500 for each board meeting attended. Non-employee directors continued in 2008 to receive $1,500 for each committee meeting attended. The table below sets forth the total retainer fee paid in 2008, per board meeting fees from June 1, 2008, and per committee meeting fees paid to our non-employee directors in 2008:
| Director | Total Retainer Fee Paid in 2008(1) | Fee Per Board Meeting Attended | Fee Per Committee Meeting Attended | |||
| Bruce Barone | $38,000 | $2,500 | $1,500 | |||
| Joseph Baute | $38,000 | $2,500 | $1,500 | |||
| Donald Weatherson | $38,000 | $2,500 | $1,500 |
| (1) | In addition, the non-employee directors receive reimbursement for all reasonable expenses incurred in attending board and committee meetings. |
