EXHIBIT 10.13
SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION
PROGRAM
Based on the recommendations of the
Compensation Committee, the Board approved the following cash
compensation program:
·
$40,000 per year for service as a
board member;
·
$25,000 additional per year for
service as lead director of the board;
·
$15,000 per year for service as a
member of the audit committee;
·
$10,000 additional per year for
service as chairman of the audit committee;
·
$10,000 per year for service as a
member of the compensation committee;
·
$5,000 additional per year for
service as chairman of the compensation committee;
·
$7,500 per year for services as a
member of the nominating and corporate governance committee;
and
·
$2,500 additional per year for
service as chairman of the nominating and corporate governance
committee.
To the extent that the Board or any
Committee thereof meets more than ten (10) times in any year
each member will receive a per meeting fee in excess of ten
(10) meetings as follows:
·
$2,000 for each board meeting
attended in person ($1,000 for meetings attended by video or
telephone conference);
·
$2,
