BELFA » Topics » Director Compensation

This excerpt taken from the BELFA DEF 14A filed Apr 15, 2009.

Director Compensation

The following table sets forth certain information regarding the compensation we paid to our directors, other than Daniel Bernstein, during 2008.

     
Name
(a)
  Fees Earned or Paid in Cash
($)
(b)
  All Other Compensation
($)
(g)
  Total
($)
(j)
Howard B. Bernstein     19,000       1,120       20,120  
Avi Eden     19,000       61,120       80,120  
Peter Gilbert     24,000       1,120       25,120  
John S. Johnson     24,000       1,120       25,120  
Robert H. Simandl     19,000       28,120       47,120  
John F. Tweedy     24,000       1,120       25,120  

With respect to compensation of our directors:

when we refer to “Fees Earned or Paid in Cash”, we are referring to all cash fees that we paid or were accrued in 2008, including annual retainer fees, committee and/or chairmanship fees and meeting fees; in 2008, our non-employee directors received an annual retainer of $15,000, plus $1,000 for each Board meeting they attended in person and $750 for each non-audit committee meeting they attended in person. Audit Committee members received $1,250 for each meeting they attended in person.
the aggregate number of option awards outstanding for each director at December 31, 2008 were as follows: Howard B. Bernstein: 0; Avi Eden: stock options covering 8,000 shares of Class B Common Stock; Peter Gilbert: 0; John S. Johnson: 0; Robert H. Simandl: 0; and John F. Tweedy: 0.
in May 2007, each of the directors noted above received 4,000 shares of restricted stock, which vest as follows: 1,000 shares vest as of May 11, 2009; 1,000 shares vest as of May 11, 2010; 1,000 shares vest as of May 11, 2011 and 1,000 shares vest as of May 11, 2012.
“all other compensation” consists of the following:

For Avi Eden: consulting fees paid to Mr. Eden with respect to advice rendered regarding corporate development issues

For Robert H. Simandl: fees paid to Mr. Simandl’s law firm for services rendered and disbursements incurred on our behalf during 2008

Each director was paid $1,120 during 2008 related to dividends on their shares of restricted stock

In 2008, directors who were executive officers of the Company did not receive directors’ fees. In 2008, directors of the Company’s foreign subsidiaries did not receive a retainer or meeting fees.

This excerpt taken from the BELFA DEF 14A filed Apr 20, 2007.

Director Compensation

The following table sets forth certain information regarding the compensation we paid to our directors, other than Daniel Bernstein, during 2006.

Name
(a)

 

Fees
Earned or
Paid in
Cash
($)

(b)

 

All
Other
Compensation
($)
(g)

 

Total
($)
(j)

Howard B. Bernstein

      

19,000

      

      

19,000

Avi Eden

 

19,000

 

55,000

 

74,000

Peter Gilbert

 

22,000

 

 

22,000

John S. Johnson

 

22,000

 

 

22,000

Robert H. Simandl

 

19,000

 

27,000

 

46,000

John F. Tweedy

 

22,000

 

750

 

22,750

With respect to compensation of our directors:

when we refer to “Fees Earned or Paid in Cash”, we are referring to all cash fees that we paid or were accrued in 2006, including annual retainer fees, committee and/or chairmanship fees and meeting fees; in 2006, our non-employee directors received an annual retainer of $15,000, plus $1,000 for each Board meeting they attended in person and $750 for each committee meeting they attended in person.

the aggregate number of option awards outstanding for each director at December 31, 2006 were as follows: Howard B. Bernstein: 0; Avi Eden: stock options covering 8,000 shares of Class B Common Stock; Peter Gilbert: 0; John S. Johnston: stock options covering 4,000 shares of Class B Common Stock; Robert H. Simandl: 0; and John F. Tweedy: 0.

“all other compensation” consists of the following:

For Avi Eden:

consulting fees paid to Mr. Eden with respect to advice rendered regarding corporate development issues

For Robert H. Simandl:

fees paid to Mr. Simandl’s law firm for services rendered and disbursements incurred on our behalf during 2006

For John F. Tweedy:

fees for attendance at an SEC conference.

In 2006, non-employee directors of the Company received an annual retainer of $15,000, plus $1,000 for each Board meeting they attended and $750 for each committee meeting they attended. In 2006, directors who were executive officers of the Company did not receive directors’ fees. In 2006, directors of the Company’s foreign subsidiaries did not receive a retainer or meeting fees.

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