Common use of Cash Stipend Clause in Contracts

Cash Stipend. For so long as the Director serves as the chair of either the Audit Committee of the Board, the Compensation Committee of the Board, or the Nominating Committee of the Board the amount of quarterly cash stipend shall be $1,000.00. In addition, the Director shall receive a cash stipend of (i) $300.00 for every telephonic meeting of the Board that the Director attends which is longer than forty-five minutes; (ii) $300.00 for every telephonic meeting of a Committee of the Board that the Director attends that is longer than forty-five minutes; and (iii) $300.00 for every in-person meeting that the Director attends.

Cash Stipend. The Director shall receive a monthly cash stipend of One Thousand Five Hundred Dollars ($1,500). For so long as the Director serves as the chair of either the Audit Committee of the Board, the Compensation Committee of the Board, Board or the Nominating Committee of the Board the amount of quarterly such monthly cash stipend shall be increased to Two Thousand Dollars ($1,000.002,000). In addition, the Director shall receive a cash stipend of (i) $300.00 500 for every telephonic meeting of the Board that the Director attends which is longer than forty-five minutes; (ii) $300.00 500 for every telephonic meeting of a Committee of the Board that the Director attends that is longer than forty-five minutes; and (iii) $300.00 1,000 for every in-person meeting that the Director attends.