Exhibit 10.1

 

SUMMARY SHEET OF DIRECTOR FEES AND EXECUTIVE OFFICER COMPENSATION

 

I. Director Compensation

 

As compensation for their service as directors of The Providence Service
Corporation (the “Company”), each non-employee member of the Board of Directors
(the “Board”) receives a $10,000 annual stipend, except for the Audit Committee
Chair who receives a $28,800 annual stipend. Payment of the annual stipends is
made on a quarterly basis following each quarter of service. Additionally, each
non-employee member of the Board receives $3,500 for each Board meeting attended
in person, $1,000 for each telephonic meeting of the Board participated in, and
$1,000 for each committee meeting attended or participated in by telephone of
which such non-employee member of the Board is a member that is not held the
same day as a Board meeting, except that the Audit Committee Chair receives
$2,500 for each Audit Committee meeting attended or participated in by telephone
that is not held the same day as Board meeting.

 

In addition, each non-employee member then serving on the first business day of
each January receives a ten year option to purchase 10,000 shares of the
Company’s common stock under the Company’s 2003 Stock Option Plan with an
exercise price equal to the closing market price of the Company’s common stock
on the date of grant. Such options will vest in three equal installments on each
of the first, second and third anniversary of the date of grant.

 

II. Executive Compensation

 

Base Salaries

 

The following table sets forth current base salaries of the Company’s CEO and
each of the executive officers who were named in the Summary Compensation Table
in the Company’s definitive proxy statement filed with the SEC on April 20, 2005
(the “Named Executive Officers”).

 

Name

--------------------------------------------------------------------------------

   Base Salary

--------------------------------------------------------------------------------

Fletcher Jay McCusker

   $ 250,000

William Boyd Dover

     190,000

Michael N. Deitch

     195,000

Fred D. Furman

     195,000

Craig A. Norris

     200,000

 

Participation in Stock Option Plan and Other Arrangements

 

1

--------------------------------------------------------------------------------

The Named Executive Officers are also eligible to:

 

  •   Participate in the Company’s 2003 Stock Option Plan;

 

  •   Participate in certain group life, health, medical and other non-cash
benefits generally available to all salaried employees; and

 

  •   Participate in certain health and dental benefits for their family, which
are not available to all salaried employees.

 

2