Company: CMTV
Filing Date: 2025-04-09
Form Type: DEF 14A
Source: 0001174947-25-000534
Chunk: 19

Company: COMMUNITY BANCORP /VT
Filing Date: 2025-04-09
Form: DEF 14A
Chunk 19
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     | Bank Director Fees               |         |
| Annual Retainer                              | $12,140 |     | Annual Retainer                  | $12,140 |
| Annual Board Chair Retainer                  |   5,510 |     | Board Meeting Fee                |     775 |
| Annual Audit Committee Chair Retainer        |   2,750 |     | Board Committee Meeting Fee      |     775 |
| Annual Compensation Committee Chair Retainer |   2,750 |     | Advisory Council Meeting Fee (2) |     645 |
| Annual Governance Committee Chair Retainer   |   2,750 |     |                                  |         |
| Board Meeting Fee                            |     775 |     |                                  |         |
| Board Committee Meeting Fee                  |     775 |     |                                  |         |
| Disclosure Control Committee Meeting Fee (1) |     775 |     |                                  |         |

| (1) | At least one member of the Audit Committee attends the quarterly meetings of the Company’s Disclosure Control Committee, which reviews the Company’s periodic reports prior to filing with the SEC. |

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| (2) | During 2024, Bank directors who attended meetings of the Bank’s market-wide advisory council received a per meeting fee for such attendance. Employee-directors do not receive any fees for attending local advisory council meetings. |

This fee structure is designed to compensate our outside directors for attendance at Board meetings, as well as for the time they spend in activities directly related to their service on the Board for which they receive no additional compensation, such as attendance at the annual directors’ retreat and attendance at educational seminars or programs on pertinent banking or corporate governance topics. Directors’ Deferred Compensation Plan The directors may choose to defer current receipt of some or all of their Company or Bank director fees under the Company’s Deferred Compensation Plan for Directors. Deferrals are credited to a cash account that bears interest at the rate the Bank pays on a three-year certificate of deposit, as adjusted from time to time. Payments are deferred until the director’s retirement, death or disability, or at an earlier or later date elected by the director. The director may choose to receive his or her deferrals and accumulate interest in a lump sum or monthly installments. There are currently no participants in the Plan. Under the terms of the Plan, deferred fees and accumulated interest represent a general unsecured obligation of the Company and no assets of the Company or the Bank are to be segregated to satisfy the Company’s obligations under the Plan. Directors’ Retirement