SECOND REVISED AND RESTATED DIRECTORS COMPENSATION PLAN OF CAPITALSOUTH BANCORPExecutive Compensation Plan Agreement |
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EXHIBIT 10.6
SECOND REVISED AND RESTATED
DIRECTORS COMPENSATION PLAN
OF
CAPITALSOUTH BANCORP
Section 1. Purpose. The purpose of this Directors Compensation Plan (this “Plan”) is to provide for the members of the Board of Directors of CapitalSouth Bancorp (heretofore known as Financial Investors of the South, Inc.), a Delaware corporation (the “Company”), and members of the boards of directors of its bank and other significant subsidiaries (“Significant Subsidiaries”), to receive their director’s fees in common stock of the Company (“Common Stock”).
Section 2. Terms of Plan. Each member of the Board of Directors of the Company and its Significant Subsidiaries (each, a “Director”) shall receive a fee (a “Director’s Fee”) for attending meetings of the Board of Directors and for attending meetings of committees thereof equal to a certain number of shares of Common Stock, which number shall be established from time to time by the Board of Directors of the Company, in consultation with the Board of Directors of each of its Significant Subsidiaries with respect to awards to members of such other boards of directors, (the “Share Amount”). The number of shares received by such Director shall equal the S
