Board Compensation Summary Sheet
EX-10.26 2 d40720exv10w26.htm BOARD COMPENSATION SUMMARY SHEET exv10w26
Exhibit 10.26
Board Compensation Summary Sheet
Effective October 1, 2006 each director of the Company who is not a compensated officer or employee of the Company will receive cash compensation as follows:
| • | Board member annual retainer of $50,000 | ||
| • | Presiding Director — annual retainer of $5,000 | ||
| • | Board meeting fee for each meeting attended-$1,500 | ||
| • | Audit Committee Chairman — annual retainer of $15,000 | ||
| • | Member of the Audit Committee — $2,000 for each meeting attended | ||
| • | Human Resources Committee Chairman — annual retainer of $7,500 | ||
| • | Chairman of other Board Committees — annual retainer of $5,000 | ||
| • | Member of other Board Committees — $1,500 for each meeting attended |
The Board has also established a cash equivalent value for annual equity compensation for directors of $100,000 and will use a twelve month average share price as the basis for the awards.
