Summary of Compensation for Non-Employee Directors and Named Executive Officers

Exhibit 10.11

Summary of Compensation for
Non-Employee Directors and Named Executive Officers

Non-Employee Director Compensation Summary

Annual Retainer
$20,000
Additional $5,000 for serving as chair of audit committee
Retainers are payable in cash in equal, quarterly installments in arrears

Board and Committee Meeting Fees
$2,000 per meeting for each Board of Directors meeting attended
$1,000 per meeting for each Board committee meeting attended

Annual Equity Award
1,000 shares of restricted stock are awarded to all non-employee directors (other than Donald J. Edwards, Gerald J. Ford and Thomas M. Harrison, Jr.) pursuant to the 2002 Long Term Incentive Plan of First Acceptance Corporation (the “Company”), on the date of each annual meeting of the Company’s stockholders.

Named Executive Officer Compensation Summary

Current salaries for named executive officers: