Pinnacle Bankshares Corporation Directors' Annual Compensation Schedule (as of March 31, 2011)
This document outlines the annual compensation structure for directors of Pinnacle Bankshares Corporation and its bank subsidiary as of March 31, 2011. It specifies annual retainers for serving as a director, with additional payments for serving as Chairman, Vice Chairman, or as committee chairs. Non-employee directors also receive fees for attending committee meetings. The agreement details the amounts paid for each role and meeting, ensuring transparency in director compensation.
Exhibit 10.5
Pinnacle Bankshares Corporation
Directors’ Annual Compensation
As of March 31, 2011
| Annual Retainer | Amount | |||
| Service as Director for the Company | $ | 2,000 | ||
| Service as Director for the Bank | $ | 4,000 | ||
| Additional Retainer | ||||
| Additional Retainer for Chairman of the Board | $ | 1,000 | ||
| Additional Retainer for Vice Chairman of the Board | $ | 500 | ||
| Additional Retainer for Chair of Audit Committee | $ | 1,500 | ||
| Additional Retainer for Chair of Compensation Committee | $ | 1,000 | ||
| Meeting Fees (Non-Employee Directors) | ||||
| Committee Meetings for the Company | $ | 250 per meeting | ||
| Committee Meetings for the Bank | $ | 250 per meeting | ||
