Exhibit 10.45

 

Director Compensation

 

Non-employee directors are entitled to receive the following compensation and
stock options:

 

Base Compensation. Our directors who are also our employees serve without
additional compensation. Non-employee directors receive $27,000 annually. The
Audit Committee chairman receives an additional $4,500 annually and the
Compensation Committee chairman receives an additional $3,000 annually.
Non-employee directors also receive $1,250 for each meeting of the Board of
Directors attended, $1,000 for each Audit Committee meeting attended and $800
for each Compensation Committee meeting attended.

 

Stock Grants. In addition to the base compensation, on the date of our annual
meeting, each non-employee director receives a grant of 2,000 shares of Class A
Common Stock pursuant to our non-qualified stock option long-term incentive plan
for services rendered during the preceding year.

 

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