Attached files
| file | filename |
|---|---|
| EX-31.2 - CERTIFICATION - GYRODYNE CO OF AMERICA INC | ex31-2.htm |
| EX-32.2 - CERTIFICATION - GYRODYNE CO OF AMERICA INC | ex32-2.htm |
| EX-32.1 - CERTIFICATION - GYRODYNE CO OF AMERICA INC | ex32-1.htm |
| EX-21.1 - SUBSIDIARIES - GYRODYNE CO OF AMERICA INC | ex21-1.htm |
| EX-31.1 - CERTIFICATION - GYRODYNE CO OF AMERICA INC | ex31-1.htm |
| 10-K - ANNUAL REPORT - GYRODYNE CO OF AMERICA INC | gyrodyne_10k-123109.htm |
Exhibit 10.16
Compensation of Directors
Effective January 1, 2010, the board of directors of Gyrodyne Company of America, Inc. approved a change in the structure of directors compensation to a flat annual fee payable monthly. Beginning January 1, 2010, each director is entitled to an annual director fee of $30,000 per year which includes attendance at board meetings and committee meetings. As before, the Chairman of the Board is also entitled to receive a Chairman’s fee of $24,000 per year. Directors will continue to be reimbursed for travel and other expenses related to Company business.