EXHIBIT 10.5

 

DIRECTORS COMPENSATION

 

 

Nonemployee directors receive compensation for board service.  Payment dates are
the last working day of March, June, September, and December.  That compensation
includes:

 

Annual Retainer:

$51,000

 

 

Committee Chair Stipend:

$20,000 annually for Audit Committee chair and lead independent director

 

 

 

$10,000 annually for all other committee chairs

 

 

Attendance Fees:

$2,000 for each board meeting (attended in person, conducted by telephone, or
written consent in lieu of meeting)

 

 

 

$1,000 for each committee meeting (attended in person, conducted by telephone,
or written consent in lieu of meeting)

 

 

 

Expenses related to attendance

 

 

Equity Based Comp Award:

$45,000 annually

 

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