Exhibit 10.1
SUMMARY OF OUTSIDE DIRECTOR COMPENSATION
Compensation | Board or Committee | Amount | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|
Annual retainer (paid monthly) | Outside Directors(1) | $25,000(2) | |||||||||
Education Meeting | Outside Directors | $3,000 | |||||||||
Attendance at In-Person Meeting or Participation in Telephonic Meeting, provided the duration of the meeting exceeds one hour | Audit Committee (Chair) Comp Committee (Chair) N/CG Committee (Chair) | $2,500 ($4,500) $2,000 ($4,000) $2,000 ($4,000) | |||||||||
Annual Stock Option Grant, provided the director has served as a director of the Company for at least 12 months | Outside Directors | 5,000 shares | |||||||||
New Director Stock Option Grant | New Outside Director | 15,000 shares | |||||||||
(1) Outside Directors are directors who are not officers or employees of the Company. (2) Approved at 4/21/05 Board Meeting and effective September 1, 2005. Previous amount was $20,000. |