Equity Inns, Inc. 2006 Non-Employee Director Compensation Summary
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Summary
This document outlines the 2006 compensation plan for non-employee directors of Equity Inns, Inc. Non-employee directors receive an annual retainer of $25,000, fees for attending board and committee meetings, additional fees for serving as committee chairs, and an annual restricted stock award valued at $25,000. The stock award is based on the company's share price at the time of grant and is issued after the first board meeting following the annual shareholders' meeting.
EX-10.1 2 exh10-030606.txt NON EMPLOYEE DIRECTOR COMP 2006 Exhibit 10.1 Equity Inns, Inc. Summary of 2006 Non-Employee Director Compensation Amount Annual Retainer $25,000 Fee per Board Meeting Attended 1,250 Fee per Committee Meeting Attended 1,000 Committee Chair Fees: Audit Committee 7,500 Compensation Committee 5,500 Corporate Governance and Nomination Committee 5,000 Annual Restricted Stock Award $25,000 (1) ---------------------- (1) Non-employee directors will receive a number of shares equal in value to $25,000 based on the closing sale price for the Company's common stock on the date of grant. Non-employee directors will receive this annual grant effective the date of the Company's first board meeting following each of the Company's annual meeting of shareholders.
