Schedule of Non-Employee Directors Annual Compensation of Virginia Commerce Bancorp, Inc. Effective January 1, 2012
Exhibit 10.13
Schedule of Non-Employee Directors Annual Compensation
of
Virginia Commerce Bancorp, Inc.
Effective January 1, 2012
Cash Compensation
Monthly Retainer
Each non-employee director of Virginia Commerce Bancorp, Inc. (the Company) is entitled to receive monthly retainer compensation of $4,500 for attendance at meetings of the Board of Directors of the Company and Virginia Commerce Bank. The monthly retainer payments are subject to forfeiture if a director misses more than one Board of Directors meeting during each fiscal year. Directors do not receive separate compensation for attendance at committee meetings.
Equity Compensation
Each non-employee director is also eligible to receive equity awards pursuant to the Companys 2010 Equity Plan in the discretion of the Board of Directors, upon the recommendation of the Personnel and Compensation Committee.