EX-10.5 5 w07366exv10w5.htm EXHIBIT 10.5 exv10w5
 

Exhibit 10.5

Schedule of Non-Employee Directors’ Annual Compensation

                 
    December 31, 2004  
    Maximum Award  
    Cash     Stock  
Basis of Compensation   AMOUNT     Option  
Meeting Attendance
   $ —       4,500  
Regulatory Ratings
   $ —       1,500  
Financial Performance
   $ —       1,500  

Evaluation and awards are made in the first quarter of each year for performance in the preceding year upon receipt of the Audited Financial Statements for the year being evaluated. Options are issued under the 1999 Stock Option Plan as approved by the shareholders November 26, 1999.