Annual Compensation of Directors of Pinnacle Bankshares Corporation and First National Bank
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EX-10.3 5 d217089dex103.htm EX-10.3 EX-10.3
Exhibit 10.3
Annual Compensation of Directors of
Pinnacle Bankshares Corporation and First National Bank
As of January 1, 2020
Cash Compensation (1)
Annual retainer
| Pinnacle Director | $ | 4,000 | ||
| First National Bank Director | $ | 6,000 |
Additional Pinnacle annual retainers
| Chairman of the Board | $ | 3,000 | ||
| Vice Chairman of the Board | $ | 1,500 | ||
| Audit Committee Chairman | $ | 1,500 | ||
| Compensation Committee Chairman | $ | 1,000 | ||
| Nominating Committee Chairman | $ | 1,000 |
Committee meeting fees
In addition to the annual retainers, outside directors also receive $350 for each committee meeting attended.
(1) Under the Pinnacle Bankshares Corporation 2014 Incentive Stock Plan, directors may choose to receive up to 100% of their director fees in the form of Pinnacle common stock.
