Attached files
| file | filename |
|---|---|
| EX-32.2 - EX-32.2 - FIRST BANCORP /NC/ | ex32-2.htm |
| EX-32.1 - EX-32.1 - FIRST BANCORP /NC/ | ex32-1.htm |
| EX-31.2 - EX-31.2 - FIRST BANCORP /NC/ | ex31-2.htm |
| EX-31.1 - EX-31.1 - FIRST BANCORP /NC/ | ex31-1.htm |
| EX-23 - EX-23 - FIRST BANCORP /NC/ | ex23.htm |
| EX-21 - EX-21 - FIRST BANCORP /NC/ | ex21.htm |
| EX-12 - EX-12 - FIRST BANCORP /NC/ | ex12.htm |
| 10-K - 10-K - FIRST BANCORP /NC/ | form10k-17207_fbnc.htm |
Exhibit 10.1
Description of Director Compensation pursuant to
Item 601(b)(10)(iii)(A) of Regulation S-K
The following is a description of Directors Compensation for First Bancorp (the “Company”), effective as of January 1, 2017.
Each non-employee director earns a base director fee of $32,000 per year. In addition to the base fee, the chairman of the Company and First Bank is paid $17,500 annually, and the chairman of the Audit Committee is paid $10,000 annually.
Non-employee directors of the Company also participate in the Company’s equity plan. In June of each year, each non-employee director of the Company is expected to receive a grant of shares of common stock with a value of approximately $32,000.
Directors who retire from the Board of Directors and who are elected to Director Emeritus status receive $4,000 per year for a period of three years.
Directors are also entitled to reimbursement of costs and expenses incurred in connection with attending bank educational conferences.