Summary Schedule of 2011 Outside Director Fees for Tower Bancorp, Inc. and Graystone Tower Bank

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Summary

This document outlines the compensation structure for outside directors of Tower Bancorp, Inc. and Graystone Tower Bank for 2011. Directors receive an annual retainer of $27,000, split between cash and equity awards, provided they attend at least 75% of board and committee meetings. Additional retainers are paid to committee chairs and the board chair or lead director. Directors also receive per-meeting fees for attending board and committee meetings, with all payments made quarterly.

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EX-10.1 2 dex101.htm SUMMARY SCHEDULE OF 2011 OUTSIDE DIRECTOR FEES. Summary Schedule of 2011 Outside Director Fees.

Exhibit 10.1

TOWER BANCORP, INC.

GRAYSTONE TOWER BANK

OUTSIDE DIRECTOR FEES

(Effective January 1, 2011)

Annual Retainers: Directors must attend in person or by phone 75% of meetings (Board and Committee meetings combined) to be paid retainer. Cash fees are paid quarterly. Equity awards (options, restricted stock, etc.) under the Corporation’s applicable stock incentive plans, are awarded annually in September.

 

Annual Board Retainer   

$27,000 ($12,000 in the form of cash and

$15,000 in the form of equity award value(1))

   
Committee Chair Retainer    $7,500   

(Audit, Nominating/Corporate

Governance, Employee Development,

ALCO)

      
Board Chair/Lead Director Retainer    $10,000   

 

(1)

Economic value calculation dependent upon type/manner of award.

Meeting Fees: Per day for meetings attended in person or by phone. Fees are paid quarterly.

 

Board    $1,200
Committee    $800