Common use of Board Compensation Clause in Contracts

Board Compensation. For the services provided to the Company as a director, as adjusted in accordance with Section 2(c), the Director will be entitled to the foregoing compensation for the term of this Agreement: (i) an annual retainer of $30,000.00, payable in monthly installments during the term; (ii) an additional annual retainer of $2,500.00, to serve as chair of the Company’s Nominating and Governance Committee, payable in monthly installments during the term and during any subsequent period, if the term is renewed in accordance with Section 3 during which renewal term Director is serving as chair of such Committee; (iii) an annual grant of restricted stock of the Company equal to $25,000.00 as of the Effective Date or as of the date of the Director’s reelection to the Board (as applicable), with such grant vesting as of end of the applicable term, provided Director is still serving as a director of the Company; (iv) a meeting fee equal to $1,000.00 for any meeting of the Board or of any committee of the Board that the Director attends in person; and (v) a meeting fee equal to $500.00 for any meeting of the Board or of any committee of the Board that the Director attends by telephone or other electronic media.

Board Compensation. For the services provided to the Company as a director, as adjusted in accordance with Section 2(c), the Director will be entitled to the foregoing compensation for the term of this Agreement: (i) an annual retainer of $30,000.00, payable in monthly installments during the term; (ii) an additional annual retainer of $2,500.00, to serve as chair of the Company’s Nominating and Governance Compensation Committee, payable in monthly installments during the term and during any subsequent period, if the term is renewed in accordance with Section 3 during which renewal term Director is serving as chair of such Committee; (iii) an annual grant of restricted stock of the Company equal to $25,000.00 as of the Effective Date or as of the date of the Director’s reelection to the Board (as applicable), with such grant vesting as of end of the applicable term, provided Director is still serving as a director of the Company; (iv) a meeting fee equal to $1,000.00 for any meeting of the Board or of any committee of the Board that the Director attends in person; and (v) a meeting fee equal to $500.00 for any meeting of the Board or of any committee of the Board that the Director attends by telephone or other electronic media.

Board Compensation. For the services provided to the Company as a director, as adjusted in accordance with Section 2(c), the Director will be entitled to the foregoing compensation for the term of this Agreement: (i) an annual retainer of $30,000.00, payable in monthly installments during the term; (ii) an additional annual retainer of $2,500.005,000.00, to serve as chair of the Company’s Nominating and Governance Audit Committee, payable in monthly installments during the term and during any subsequent period, if the term is renewed in accordance with Section 3 during which renewal term Director is serving as chair of such Committee; (iii) an annual grant of restricted stock of the Company equal to $25,000.00 as of the Effective Date or as of the date of the Director’s reelection to the Board (as applicable), with such grant vesting as of end of the applicable term, provided Director is still serving as a director of the Company; (iv) a meeting fee equal to $1,000.00 for any meeting of the Board or of any committee of the Board that the Director attends in person; and (v) a meeting fee equal to $500.00 for any meeting of the Board or of any committee of the Board that the Director attends by telephone or other electronic media.