The chairman of the company's board of directors, Walter Loewenbaum, will receive a monthly retainer of $10,000. Loewenbaum has served as a member of the board since 1995.
Board members other than the chairman will receive an annual retainer of $18,000.
Chairs of the audit committee and executive committee of the board of directors will be paid an additional annual retainer of $20,000, while the chair of the compensation and nominating and corporate governance committees will be paid an additional annual retainer of $10,000.
Each board member will also receive $2,000 for each board meeting attended, $500 for each committee meeting, and $1,000 for each audit committee meeting.