Pinnacle Bankshares Corporation Directors' Annual Compensation Schedule (as of March 31, 2009)
This document outlines the annual compensation for directors of Pinnacle Bankshares Corporation and its bank subsidiary as of March 31, 2009. Directors receive annual retainers for their service, with additional payments for chairing the Audit or Compensation Committees. Non-employee directors also earn fees for attending committee meetings. The agreement specifies the amounts paid for each role and meeting participation.
Exhibit 10.5
Pinnacle Bankshares Corporation
Directors’ Annual Compensation
As of March 31, 2009
| Amount | |||
| Annual Retainer | |||
| Service as Director for the Company | $ | 2,000 | |
| Service as Director for the Bank | $ | 4,000 | |
| 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 | |
