Union National Financial Corporation Board of Director Fee Schedule (2007–2008)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for the Board of Directors of Union National Financial Corporation for the years 2007 and 2008. It specifies annual retainers, per-meeting fees for board and committee meetings, and annual salaries for the Vice Chairman, applicable only to independent outside directors. The Chairman's salary is not applicable for 2009, as the position is held by the company's CEO and President. The agreement details the amounts paid for each type of meeting and role, ensuring transparency in director compensation.

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EX-10.6 2 v144096_ex10-6.htm
 
EXHIBIT 10.6
Board of Director Fees

The following table sets forth the director fees for 2007 and 2008:

   
2007
    
2008
  
Annual Retainer
   $5,000     $5,000  
Board Meetings
  
$670 per meeting
    
$670 per meeting
  
Audit Committee Meetings
  
$300 per meeting
    
$300 per meeting
  
All Other Committee Meetings
  
$200 per meeting
    
$200 per meeting
  
Chairman’s Annual Salary*
   N/A     N/A  
Vice Chairman’s Annual Salary*
   $5,000     $5,000  

*These salaries only apply to independent outside directors; this payment will not apply for the Chairman in 2009 as that position is filled by Mark D. Gainer who also serves as Chief Executive Officer and President of Union National Financial Corporation.