EXHIBIT 10.11 Board of Director Fees
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.
