2009 Non-Employee Directors’ Compensation Schedule
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Summary
This document outlines the compensation structure for non-employee directors of the company for fiscal year 2009. Non-employee directors receive a monthly retainer, fees for attending board and committee meetings, and additional annual stipends for serving as chairpersons of certain committees. Directors who are also company employees do not receive extra compensation for board or committee service. The compensation varies depending on the type of meeting and chair responsibilities.
EX-10.10 3 c48382exv10w10.htm EX-10.10 EX-10.10
Exhibit 10.10
Non-Employee Directors’ Compensation
In fiscal 2009, non-employee directors will receive compensation as outlined in the table below:
| Compensation Rate | ||||
| Fiscal 2009 | ||||
Monthly Board member retainer | $ | 1,500 | ||
Fee per Board meeting attended | $ | 1,250 | ||
Fee per Audit Committee meeting attended | $ | 1,000 | (1) | |
Fee per Compensation Committee meeting attended | $ | 1,000 | (1) | |
Fee per Governance Committee meeting attended | $ | 1,000 | (1) | |
Fee per Investment Review Committee meeting attended | $ | 500 | ||
Annual stipend for Chairman of the Board | $ | 4,000 | ||
Annual stipend for Audit Committee Chair | $ | 3,000 | ||
Annual stipend for Compensation Committee Chair | $ | 2,000 | ||
| (1) | The Chairs of the Audit, Compensation and Governance Committees will receive 1.5 times the meeting fee for each committee meeting to reflect the work and preparation required as chair for such meetings. |
Directors who are otherwise employees of the Company do not receive any additional compensation for their service on the Board or any of its committees.
