Written Description of Compensatory Plan for Non-Employee Directors
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document outlines the compensation plan for non-employee directors of the company. Non-employee directors receive an annual retainer fee of $15,000 and an additional $500 for each board or committee meeting attended. Directors are also reimbursed for reasonable expenses related to attending these meetings. Employees who serve as directors do not receive extra pay for their board service.
EX-10.15 8 d99567exv10w15.txt COMPENSATORY ARRANGEMENT - DIRECTORS EXHIBIT 10.15 Written Description of Compensatory Plan for Directors Employees of the Company receive no extra pay for serving as directors. The Company pays each of its non-employee directors an annual retainer fee of $15,000, plus, for attendance at meeting of the Board or committee meetings, an additional $500 per meeting. Directors are also reimbursed for the reasonable expenses incurred in connection with attending meetings of the Board and its committees.
