2005 and 2006 Board of Directors Compensation Schedules

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for the company's Board of Directors for the years 2005 and 2006. It details the annual retainer, meeting fees, committee participation payments, and restricted stock grants for both the Chairman and other directors. The schedule specifies amounts for in-person and telephone meetings, as well as additional compensation for committee chairs and members. The agreement ensures directors are compensated for their time and responsibilities according to their roles and participation.

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EX-10.F 8 l17423aexv10wf.htm EXHIBIT 10(F) 2005 AND 2006 DIRECTOR COMPENSATION SCHEDULES Exhibit 10(F)  

EXHIBIT 10(F)
BOARD OF DIRECTORS’ COMPENSATION
                 
    2005     2006  
Compensation Component
                
Retainer
   $ 10,000     $ 10,000  
 
                
Board Meetings (6 meetings @ $3,700 per meeting)
   $ 19,200     $ 22,200  
Board Telephone Meeting
   $ 1,500     $ 1,500  
 
                
Management Interaction Day
   $ 2,000     $ 2,000  
Special Meetings
   $ 1,000     $ 1,000  
 
                
Audit Committee
                
Committee Member Meetings
   $ 2,100     $ 2,600  
Committee Chair Meetings
   $ 4,200     $ 4,700  
Regularly Scheduled Audit Telephone Meetings/Committee Member
   $ 1,000     $ 1,000  
Regularly Scheduled Audit Telephone Meetings/Committee Chair
   $ 1,500     $ 1,500  
 
                
Other Committees
                
Committee Member Meetings
   $ 2,100     $ 2,600  
Committee Chair Meetings
   $ 2,600     $ 3,100  
Telephone Meetings (as needed)
   $ 500     $ 500  
 
                
Chairman of the Board (Yearly Restricted Stock Grant)
   $ 200,000     $ 200,000  
 
                
Annual Restricted Stock Value (other than Chairman)
   $ 100,000     $ 100,000