Cash Compensation Policy for Non-Employee Directors
This document outlines the cash compensation structure for non-employee directors of the company. It specifies annual retainers for all outside directors, with additional payments for those serving as Chairman of the Board or as members or chairpersons of the Audit, Compensation, and Nominating and Governance Committees. Payments are made quarterly, and there are no fees for attending individual meetings.
Exhibit 10.3
Cash Compensation of Outside Directors
Cash Compensation of Non-Employee Directors is as follows:
Annual Retainer: $36,000
Additional Annual Retainer for Chairman of the Board: $30,000
Additional Annual Retainer for Audit Committee members:
| Chairman: | $ | 20,000 | ||||
| Other members: | $ | 8,000 |
Additional Annual Retainer for Compensation Committee members:
| Chairman: | $ | 15,000 | ||||
| Other members: | $ | 6,000 |
Additional Annual Retainer for Nominating and Governance Committee members:
| Chairman: | $ | 8,000 | ||||
| Other members: | $ | 3,200 |
Fees are paid quarterly in arrears. There are no per meeting fees.
