Summary of Non-Management Director Compensation as of January 1, 2006
This document outlines the compensation structure for non-management directors of the company as of January 1, 2006. Directors receive an annual retainer of $37,000 paid in company stock, fees for attending board and committee meetings, additional compensation for committee chairs and the lead non-management director, and reimbursement for reasonable travel expenses. Payments are made in cash or stock, depending on the type of compensation.
Exhibit 10.17
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2006
| Function |
| Amount Paid |
| Form of Payment |
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| Annual Retainer |
| $37,000 annually |
| Payable in quarterly increments in shares of company common stock at its fair market value |
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| Board Meeting Fee |
| $5,000 per meeting |
| Cash per meeting attended |
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| Standing Committee Meeting Fee |
| $1,750 per meeting |
| Cash per meeting attended |
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| Committee Chair Meeting Fee |
| $2,500 total per meeting |
| Cash per meeting attended |
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| Lead-Non Management Director Fee |
| $10,000 annually |
| Payable in cash in quarterly increments |
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| Meeting Travel Expenses |
| Reasonable and actual |
| Cash reimbursement |
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