Attached files
| file | filename |
|---|---|
| 10-K - 10-K - ALLIANCE BANKSHARES CORP | w81667e10vk.htm |
| EX-21 - EX-21 - ALLIANCE BANKSHARES CORP | w81667exv21.htm |
| EX-32 - EX-32 - ALLIANCE BANKSHARES CORP | w81667exv32.htm |
| EX-31.1 - EX-31.1 - ALLIANCE BANKSHARES CORP | w81667exv31w1.htm |
| EX-23.1 - EX-23.1 - ALLIANCE BANKSHARES CORP | w81667exv23w1.htm |
| EX-10.7 - EX-10.7 - ALLIANCE BANKSHARES CORP | w81667exv10w7.htm |
| EX-31.2 - EX-31.2 - ALLIANCE BANKSHARES CORP | w81667exv31w2.htm |
Exhibit 10.8: Non-Employee Director Compensation
Cash Compensation
Annual Retainer
Each non-employee director is entitled to receive the annual retainer compensation listed below.
The 2011 annual retainer compensation amounts to 85% of the 2009 level of annual retainer
compensation, which the Board temporarily reduced beginning in 2010, in light of economic
conditions and corporate performance.
| 2011 Level | ||||
| (85% of 2009 Level) | ||||
Service as Director |
$ | 7,650 | ||
Service as Chairman of the Board* |
$ | 7,650 | ||
Service as Audit Committee Chairman* |
$ | 2,975 | ||
Service as Loan Committee Chairman* |
$ | 2,975 | ||
Service as Compensation Committee Chairman* |
$ | 2,975 | ||
| * | Chairman fees are in addition to the annual retainer and monthly fees received by all non-employee directors. |
The annual retainer fees and chairman fees are paid on an annual basis in January of the year to
which the fee applies.
Monthly Fees
Each non-employee director is entitled to receive monthly compensation of $850. As with the annual
retainer compensation discussed above, in light of economic conditions and corporate performance,
effective February 1, 2010, the Board of Directors temporarily reduced the monthly compensation to
85% of the 2009 level of monthly compensation of $1,000 per director.
Equity Compensation
Each non-employee director is also eligible to receive non-qualified stock option awards pursuant
to the Alliance Bankshares Corporation 2007 Incentive Stock Plan in the discretion of the
Compensation Committee.