Summary of Outside Director Cash Remuneration Effective May 6, 2010
This document outlines the cash compensation policy for directors of the company who are not employees, effective May 6, 2010. Non-employee directors receive an annual fee, additional fees for attending board meetings, and extra compensation for serving on or chairing key committees. All fees are cumulative, and directors are also reimbursed for travel and related expenses. The policy specifies the exact amounts for each type of service and role.
Exhibit 10.2
Summary of Outside Director Cash Remuneration
Effective May 6, 2010, cash compensation for each director who is not also an employee of the Company is as follows:
| (a) | A $40,000 annual fee for service as a director. |
| (b) | A fee of $1,500 for each Board of Directors meeting attended. |
| (c) | An additional $3,000 annual fee for service on the Audit Committee. |
| (d) | An additional $3,000 annual fee for service on the Compensation Committee. |
| (e) | An additional $3,000 annual fee for service on the Nominating and Governance Committee. |
| (f) | An additional $15,000 annual fee for service as Chairman of the Audit Committee. |
| (g) | An additional $15,000 annual fee for service as Chairman of the Compensation Committee. |
| (h) | An additional $15,000 annual fee for service as Chairman of the Nominating and Governance Committee. |
All such cash fees are cumulative, and not in the alternative.
All directors also receive reimbursement for travel and other expenses directly related to activities as directors.
