Directors Compensation Summary for Fiscal Years 2006 and 2007
This document outlines the compensation structure for the company's Board of Directors for fiscal years 2006 and 2007. It details annual fees for board members and committee chairpersons, per-meeting attendance fees, and stock-based compensation, including annual and one-time stock option grants. Board members are also eligible to participate in the company's deferred compensation plan. The agreement specifies both cash and equity components of director compensation, with some fees potentially paid in restricted stock.
| Board of Directors Annual Compensation | |||||
| Fiscal Year 06 Existing | Fiscal Year 07 Proposed | ||||
| $ 18,000.00 | Board Member Annual Director Fee | $ 30,000.00 | * | ||
| $ 10,000.00 | Audit Committee Chairman | $ 10,000.00 | |||
| $ 10,000.00 | Compensation Committee Chairman | $ 10,000.00 | |||
| $ 5,000.00 | Nominating and Corporate Governance Chairman | $ 5,000.00 | |||
| $ 1,000.00 | Per Board Meeting Attended | $ 2,500.00 | |||
| $ 1,000.00 | Per Committee Meeting Attended | $ 1,000.00 | |||
| * Portion i.e. 1/3 could be restricted stock | |||||
| Board Members would also be eligible to participate in the company's deferred compensation plan | |||||
| 20,000 share annual stock option grant | |||||
| One time 20,000 share stock option grant for new board member | |||||
