Exhibit 10.4

 

NON-EMPLOYEE DIRECTOR COMPENSATION

 

 

•       Board membership

 

$50,000 restricted stock grant with a 1 year vesting period

•       Board Chairman

 

$20,000 restricted stock grant with a 1 year vesting period and $48,000 per year
(paid $12,000 per quarter) cash compensation

 

 

 

•       Corporate Governance Committee Members

 

$20,000 per year (paid $5,000/quarter) cash compensation

•       Corporate Governance Committee Chairman

 

$45,000 per year (paid $11,250/quarter) cash compensation

 

 

 

•       Audit Committee Members

 

$20,000 per year (paid $5,000/quarter) cash compensation

•       Audit Committee Chairman

 

$40,000 per year (paid $10,000/quarter) cash compensation

 

 

 

•       Compensation Committee Members

 

$8,000 per year (paid $2,000/quarter) cash compensation

•       Compensation Committee Chairman

 

$20,000 per year (paid $5,000/quarter) cash compensation

 

 

 

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