Proposed Board Compensation Schedule Effective January 1, 2006
This document outlines the compensation structure for board members, effective January 1, 2006. All board members will receive a $100,000 annual retainer, with additional payments for specific committee roles such as Lead Director, Audit Chair, Compensation Chair, and others. These additional retainers range from $2,500 to $30,000 depending on the position. All payments will be split equally between cash and restricted stock units (RSUs).
EXHIBIT 10.43
Proposed Board Compensation Schedule to be effective January 1, 2006 | ||||
Board Retainer - all members | $ | 100,000 | ||
Additional Retainers: | ||||
- | Committee Retainer - Lead Director | $ | 30,000 | |
- | Committee Retainer - Audit Chair | $ | 25,000 | |
- | Committee Retainer - Comp Chair | $ | 20,000 | |
- | Committee Retainer - Other Chair | $ | 15,000 | |
- | Committee Retainer - PLIC Policyholder Chair | $ | 7,500 | |
- | Committee Retainer - Audit Non-Chair | $ | 5,000 | |
- | Committee Retainer - Comp Non-Chair | $ | 2,500 | |
All Retainers to be paid 50/50 cash/RSUs | ||||
