Union National Financial Corporation Board of Director Compensation Schedule (2006–2007)

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 2006 and 2007. 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 in 2007 because the Chairman also serves as President and CEO. The agreement details the amounts paid for each role and meeting type.

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EX-10.11 3 v069510_ex10-11.htm
EXHIBIT 10.11
Board of Director Fees

The following table sets forth the director fees for 2006 and 2007:

   
2006
  
2007
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 2007 as that position is filled by Mark D. Gainer who also serves as President and Chief Executive Officer of Union National Financial Corporation.