Summary of Compensation Arrangements for Cooperative's Executive Officer and Directors
This document outlines the compensation for Stephen R. Wright, the Cooperative's Named Executive Officer, who receives a $200,000 annual base salary starting July 1, 2008, under his employment agreement. It also details the annual retainers for the Cooperative's directors: member-grower directors receive $15,000, the Chairman receives $25,000, and non-member grower directors receive $40,000 each year.
Exhibit 10.15
SUMMARY OF COMPENSATION ARRANGEMENTS FOR THE
COOPERATIVE’S NAMED EXECUTIVE OFFICER AND DIRECTORS
Compensation Arrangement for the Cooperative’s Named Executive Officer
Following is a description of the compensation arrangement for Stephen R. Wright, the Cooperative’s Named Executive Officer:
| Stephen R. Wright | $200,000 annual base salary beginning July 1, 2008, pursuant to the terms of his employment agreement with the Cooperative. |
Compensation Arrangements for Directors
Directors of the Cooperative are paid an annual retainer. Each director who is a member-grower receives an annual retainer of $15,000, except Mr. Call, who serves as Chairman of the Board of Directors of the Cooperative, receives an annual retainer of $25,000. Each non-member grower director, namely Mr. Harrington Jr., Mr. Lipinski and Mr. Stotz receive a retainer at an annual rate of $40,000.
