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Compensation of
directors who are not salaried employees of Avatar Holdings Inc.
(the “Company”) is $52,500 per annum. Members of the
Executive Committee who are not salaried employees of the Company
receive a retainer of $2,000 per annum. Members and the Chairperson
of the Nominating and Corporate Governance Committee receive
additional compensation of $4,000 and $7,000, respectively. Members
and the Chairperson of the Compensation Committee receive
additional compensation of $4,000 and $5,000, per annum,
respectively.
Non-employee
directors may elect to defer up to 50% of their annual cash
retainer and any committee fees into shares of common stock of the
Company (the “Common Stock”) under the Avatar Holdings
Inc. Amended and Restated 1997 Incentive and Capital Accumulation
Plan (2005 Restatement), as amended (the “Plan”). The
cash amount of the deferral is converted into notional shares of
Common Stock based on the closing price of a share of Common
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