Summary of Amended Director Compensation Policy for 2006

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for directors of the company for 2006, as approved by the Board on October 13, 2005. Directors will receive an annual retainer of $40,000, plus $1,500 for each Board or committee meeting attended, provided they meet a 75% in-person attendance requirement. Additional annual retainers are provided for the Chairman of the Audit Committee ($15,000), Chairmen of the Compensation and Corporate Governance and Nominating Committees ($10,000 each), and the Lead Director ($5,000).

Read More Arrow
EX-10.14 4 h33274exv10w14.txt SUMMARY OF DIRECTOR COMPENSATION POLICY EXHIBIT 10.14 On October 13, 2005, the Board approved amendments to its director compensation package. As amended, directors of the Company will receive the following compensation during 2006: Annual Retainer $40,000 Compensation for each Board or committee meeting attended $1,500 (subject to a 75% in-person attendance requirement) Annual retainer for Chairman of the Audit Committee $15,000 Annual retainer for Chairman of the Compensation Committee and the Corporate Governance and Nominating Committee $10,000 Annual retainer for Lead Director $5,000