Fiscal 2005 Compensation Agreement for Non-Management Directors of Collegiate Pacific Inc.
Collegiate Pacific Inc. has set the compensation for its non-management directors for fiscal year 2005, ending June 30, 2005. Each non-management director will receive a $7,500 annual retainer, a grant of 5,000 stock options, and reimbursement for customary expenses related to attending Board, committee, and shareholder meetings. This agreement outlines the compensation structure for directors who are not part of company management.
Exhibit 10.1
FISCAL 2005 COMPENSATION PAYABLE TO NON-MANAGEMENT DIRECTORS
On March 2, 2005, the Board of Directors of Collegiate Pacific Inc. approved the payment of the following compensation to each non-management director of the Board in respect of his service to the Board in fiscal 2005, which ends on June 30, 2005:
(1) an annual retainer of $7,500 payable at the end of fiscal 2005;
| (2) | a stock option grant of 5,000 shares per non-management director on March 2, 2005; and |
| (3) | reimbursement of customary expenses for attending Board, committee and shareholder meetings. |
