Non-Employee Director Fee Arrangements Approved by Board of Directors on April 27, 2010
This document outlines the compensation structure for non-employee directors of the company, as approved by the Board of Directors on April 27, 2010. Effective July 1, 2010, non-employee directors will receive an annual retainer fee of $180,000, restoring a previous 10% reduction. The Presiding Director and Committee Chairs are entitled to an additional $5,000 annual fee. No separate fees are paid for attending meetings or for committee membership.
Exhibit 10.9
NON EMPLOYEE DIRECTOR FEE ARRANGEMENTS
On April 27, 2010, the Board of Directors approved the return of annual retainer fees to the $180,000 level for Non-employee directors effective July 1, 2010. Annual retainer fees had been reduced by 10% effective July 1, 2009. The Presiding Director and Committee Chairs receive an additional annual fee of $5,000. No meeting fees or committee membership fees are paid.
