Pinnacle Bankshares Corporation Directors' Annual Compensation Schedule (as of December 31, 2010)
This document outlines the annual compensation structure for directors of Pinnacle Bankshares Corporation and its bank subsidiary as of December 31, 2010. Directors receive annual retainers for their service, with additional payments for serving as Chairman, Vice Chairman, or as chairs of key committees. Non-employee directors also receive fees for attending committee meetings. The agreement specifies the exact amounts paid for each role and meeting participation.
Exhibit 10.5
Pinnacle Bankshares Corporation
Directors’ Annual Compensation
As of December 31, 2010
| Amount | ||||
| Annual Retainer | ||||
| 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 | $ | 1,500 | ||
| 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 | ||
