Jim - The early estimate of $100,000 was way low and ignored Options. Short answer: Avg. Board fees in 2000 were $79,000 (about 1/3 required to be deferred). Plus avg. phantom stock grant of $53,000 and stock options of $205,000, for total AVG 2000 value of $337000. Obviously big variable is value of options, which are based on a fixed number but a varying Black Scholes value. Paula

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BoD Comp - Important