Directors Compensation Summary Sheet for Independent Directors
This document outlines the compensation structure for independent directors serving on the board. Independent directors receive an annual cash retainer of $130,000, with additional annual retainers for committee chairs: $15,000 for the Audit Committee, and $10,000 each for the Compensation and Nominating and Corporate Governance Committees. Directors also earn $2,000 for each board meeting attended and $1,500 for each committee meeting attended. Payments are made quarterly, within 45 days after each quarter ends.
DIRECTORS COMPENSATION SUMMARY SHEET
Exhibit 10.25
Independent directors receive compensation for board service, paid in arrears on a quarterly basis within 45 days of the end of each quarter. The compensation consists of an annual cash retainer, additional annual cash retainers for committee chairs and fees for meeting attendance, as follows:
| Annual cash retainers |
|
| Each director | $130,000 |
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| Committee Chairs (in addition to regular director retainer) |
|
| Audit Committee | $15,000 |
| Compensation Committee | $10,000 |
| Nominating and Corporate Governance Committee | $10,000 |
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| Meeting attendance fees |
|
| Board Meetings | $2,000 per meeting |
| Committee Meetings (paid to committee members only) | $1,500 per meeting |
