Tri-S Security Corporation Summary of Board Compensation for Independent Directors (May 2, 2008)
Tri-S Security Corporation has set new compensation terms for its independent directors as of May 2, 2008. Each independent director will receive an annual payment of $18,000, plus $1,500 for each Board or committee meeting attended. The company will also reimburse travel expenses related to attending these meetings. These terms apply only to independent directors serving on the Board.
Exhibit 10.5
Tri-S Security Corporation
Summary of Board Compensation
As of May 2, 2008
On May 2, 2008, the Board of Directors of (the “Board”) of Tri-S Security Corporation (the “Company”) amended the compensation arrangement for the independent directors to provide as follows:
| • | The Company shall pay each independent director $18,000 per year for service on the Board plus $1,500 for each meeting of the Board and each meeting of a committee of the Board attended by such director. |
| • | The Company shall reimburse each independent director for all travel expenses incurred in connection with travel to and from Board and committee meetings. |
