Summary of Non-Management Director Compensation as of January 1, 2010
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Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2010. Directors receive an annual retainer of $60,000 paid quarterly 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. The agreement sets clear terms for how and when directors are paid for their service.
EX-10.17 2 ex10_17.htm EXHIBIT 10.17 ex10_17.htm
Exhibit 10.17
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2010
| Function | | Amount Paid | | Form of Payment |
| | | | | |
| Annual Retainer | | $60,000 annually | | Payable in quarterly increments in shares of company common stock at its fair market value |
| | | | | |
| Board Meeting Fee | | $5,000 per meeting | | Cash per meeting attended |
| | | | | |
| Standing Committee Meeting Fee | | $1,750 per meeting | | Cash per meeting attended |
| | | | | |
| Committee Chair Meeting Fee | | $2,500 total per meeting | | Cash per meeting attended |
| | | | | |
| Lead-Non Management Director Fee | | $16,000 annually | | Payable in cash in quarterly increments |
| | | | | |
| Meeting Travel Expenses | | Reasonable and actual | | Cash reimbursement |
