Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - Gyrodyne, LLC | gyrllc20151231_10k.htm |
| EX-21.1 - EXHIBIT 21.1 - Gyrodyne, LLC | ex21-1.htm |
| EX-32.2 - EXHIBIT 32.2 - Gyrodyne, LLC | ex32-2.htm |
| EX-32.1 - EXHIBIT 32.1 - Gyrodyne, LLC | ex32-1.htm |
| EX-31.1 - EXHIBIT 31.1 - Gyrodyne, LLC | ex31-1.htm |
| EX-31.2 - EXHIBIT 31.2 - Gyrodyne, LLC | ex31-2.htm |
Exhibit 10.4
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. From January 1, 2010 until January 1, 2013, the annual director fee was set at $30,000, which includes attendance at board meetings and committee meetings, and the additional Chairman’s fee was set at $24,000 per year. Effective January 1, 2013, the board authorized an increase in annual director fees to $42,000 per year (which includes attendance at board meetings and committee meetings), and an increase in the Chairman’s fee to $36,000 per year for a total of $78,000 per year. Directors are entitled to be reimbursed for travel and other expenses related to company business.