Summary of Fiscal 2008 Non-Employee Director Cash Compensation
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Summary
This document outlines the cash compensation structure for non-employee directors of the company for fiscal year 2008. 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 rates and stipends are specified for each role and meeting type.
EX-10.18 2 c22588exv10w18.htm SUMMARY OF FISCAL 2008 NON-EMPLOYEE DIRECTOR CASH COMPENSATION exv10w18
Exhibit 10.18
Non-Employee Directors’ Compensation
In fiscal 2008, non-employee directors will receive compensation as outlined in the table below:
| Compensation Rate | ||||
| Fiscal 2008 | ||||
Monthly Board member retainer | $ | 1,250 | ||
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 | ||
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 Committee and Compensation Committee 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.
