PICO Holdings, Inc. Summary of Non-Employee Directors' Compensation (Effective January 1, 2005)
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Summary
PICO Holdings, Inc. outlines the compensation structure for its non-employee directors, effective January 1, 2005. Each director receives an annual retainer of $35,000, with additional retainers for Audit Committee members ($10,000 for the chairman and $5,000 for other members). Directors are paid $2,000 for each board or committee meeting attended, capped at $4,000 per day. Directors attending educational activities or seminars on behalf of the company receive $1,000 per day plus expenses.
EX-1.1 2 l12866aexv1w1.txt EXHIBIT 1.1 Exhibit 1.1 Summary of Non-Employee Directors' Compensation. Effective January 1, 2005 PICO Holdings, Inc.'s compensation for non-employee Directors is as follows: - - Each Director will receive an annual Board of Directors retainer of $35,000. - - In addition, the chairman of the Audit Committee will receive an annual retainer of $10,000 and the other members of the Audit Committee will each receive an annual retainer of $5,000. - - Each Director will receive a fee of $2,000 for attending each Board of Directors and committee meeting. There is a limit of $4,000 per day for Board and committee meeting fees for any one Director. - - Directors who attend educational activities or seminars on behalf of PICO Holdings, Inc. will receive a fee of $1,000 per day plus expenses. 5
