EX-10.15 SUMMARY OF COMPENSATION ARRANGEMENTS WITH NON-EMPLOYEE DIRECTORS

EX-10.15 2 g06205exv10w15.htm EX-10.15 SUMMARY OF COMPENSATION ARRANGEMENTS WITH NON-EMPLOYEE DIRECTORS EX-10.15 SUMMARY OF COMPENSATION ARRANGEMENTS

Exhibit 10.15

Summary of Compensation Arrangements with Non-Employee Directors

The following summarizes the current compensation and benefits received by the Company’s non-employee directors. It is intended to be a summary of existing arrangements, and in no way is intended to provide any additional rights to any non-employee director.

Retainer Fees

Non-employee directors receive a $30,000 annual retainer. In addition, the chairpersons of the Compensation Committee and the Nominating and Corporate Governance Committee each receive a supplemental retainer of $6,000 per year, and the chairperson of the audit committee a supplemental retainer of $12,000 per year.

Meeting Fees

Per meeting fees for non-employee directors are as follows:

	•		A $1,500 attendance fee for attendance at Board meetings and the annual meeting of shareholders; and

	•		A $1,000 attendance fee for attendance at meetings of committees of which they are a member.

Equity Compensation

Under the terms of the Company’s stock incentive plan, directors are eligible to receive stock options, stock awards, and other types of equity-based compensation awards.

Reimbursement of Expenses

All non-employee directors are entitled to reimbursement of expenses for all services as a director, including committee participation or special assignments.