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ALL » Topics » Election to Receive Stock-In-Lieu of Retainer.

This excerpt taken from the ALL DEF 14A filed Mar 27, 2006.

Election to Receive Stock-In-Lieu of Retainer.

        In lieu of receiving the annual and committee chair retainer fees payable for service as a Non-Employee Director during any period beginning on June 1 and continuing to the following May 31 (or such other period for which cash compensation is paid to Non-Employee Directors) in cash, a Non-Employee Director may irrevocably elect in writing to reduce, in ten percent increments, the cash retainer fees and receive shares with a fair market value equal to the amount by which the cash retainer fees were reduced. The election must be made no later than five business days prior to the period to which the election relates and will remain in effect until revoked or changed for a prospective period. Shares shall be issued on the first day of the period to which the election relates and is effective. Only whole shares may be issued; fractional shares are payable in cash.

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