Compensation Schedule for Outside Board Members Approved March 25, 2004

Summary

This document outlines the compensation structure for outside members of the board of directors, as approved by the Compensation Committee and Board on March 25, 2004. Outside board members receive an annual base retainer of $15,000, with additional payments for serving as committee chairman or secretary, attending meetings, and participating in special board or committee meetings. Members are also granted stock options upon joining and annually thereafter. The total annual compensation for an outside board member typically ranges from $27,500 to $41,500, depending on their roles and meeting attendance.

EX-10.36 6 f09456exv10w36.htm EXHIBIT 10.36 exv10w36  

Exhibit 10.36

COMPENSATION FOR OUTSIDE BOARD MEMBERS
(As approved by the Compensation Committee & Board 3/25/04)

Proposed

                         
            Attend in     Attend by  
    Now     Person     Phone  
Annual Retainer (Base)
  $ 15,000     $ 15,000          
Committee Chairman (extra)
            2,500          
Committee Secretary (extra)
            2,500          
Regular Meeting Fee
  $ 1,000       2,500     $ 1,500  
Spec. Committee or Board mtg
                       
(if separate from regular BOD mtg)
            1,500       500  
         
Options Granted Upon Joining BOD
    20,000  
Option Grants yearly thereafter
    10,000  

Total likely Board Compensation (calculated)

                 
    Min     Max  
Base Retainer
  $ 15,000     $ 15,000  
Committee Chairman or Secretary (extra)
    0       2,500  
Meeting fees (4 to 6 x $2,500)
    10,000       15,000  
Committee meetings (1 to 4 x $1,500)
    1,500       6,000  
Special BOD or Committee Meetings (2)
    1,000       3,000  
 
           
 
  $ 27,500     $ 41,500