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New words:
advance, appellate, AUG, Brazilian, carrying, committed, CTA, decision, deferral, direct, divest, divestiture, Eleventh, framework, FSP, healthcare, insignificant, knowledge, original, overhaul, permanent, postretirement, rehearing, retiree, retrospectively, show, sufficient, translation
Removed:
amending, Amendment, coupled, Europe, exceeding, line, Romania
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Exhibit 10.26
Board Compensation Summary Sheet
Effective October 1, 2006 each director of the Company who is not a compensated officer or employee of the Company will receive cash compensation as follows:
• | Board member annual retainer of $50,000 | ||
• | Presiding Director — annual retainer of $5,000 | ||
• | Board meeting fee for each meeting attended-$1,500 | ||
• | Audit Committee Chairman — annual retainer of $15,000 | ||
• | Member of the Audit Committee — $2,000 for each meeting attended | ||
• | Human Resources Committee Chairman — annual retainer of $7,500 | ||
• | Chairman of other Board Committees — annual retainer of $5,000 | ||
• | Member of other Board Committees — $1,500 for each meeting attended |
The Board has also established a cash equivalent value for annual equity compensation for directors of $100,000 and will use a twelve month average share price as the basis for the awards.