BORL » Topics » Section 15. Fees

This excerpt taken from the BORL DEF 14A filed Apr 17, 2008.
Fees
 
In 2007, we paid cash fees to each non-employee director for his services. Fees paid include an annual retainer of $20,000, paid in quarterly installments of $5,000. The annual retainer is prorated if a director serves for only a portion of a year. In addition, directors are paid a flat fee for attendance at each meeting of our Board and for attendance at each meeting of a Board committee on which they serve as follows:
 
     
Regularly Scheduled Board of Directors Meetings
   
Non-employee Director
  $2,000 per meeting
Chairman
  $3,000 per meeting
Special Board Meetings
   
Non-employee Director
  $1,000 per meeting
Chairman
  $1,500 per meeting
Audit Committee Meetings
   
Non-employee Director
  $2,000 per meeting
Chairman
  $3,000 per meeting
Compensation Committee Meetings
   
Non-employee Director
  $1,000 per meeting
Chairman
  $1,500 per meeting
Nominating & Governance Committee Meetings
   
Non-employee Director
  $1,000 per meeting
Chairman
  $1,500 per meeting


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Table of Contents

Tod Nielsen, the sole employee director, receives no additional cash compensation for his service on our Board or any Board committee. All directors are reimbursed for their expenses in connection with their service on the Board and its committees.
 
This excerpt taken from the BORL DEF 14A filed Apr 30, 2007.
Fees
 
In 2006, we paid cash fees to each non-employee director for his services. Fees paid include an annual retainer of $20,000, paid in quarterly installments of $5,000 and a flat fee, subject to certain fee caps described in the footnote to the table below, for attendance at each meeting of our Board and for attendance at each meeting of a Board committee on which they serve as follows:
 
         
Regularly Scheduled Board of Directors Meetings
Non-employee Director
  $ 2,000 per meeting  
Chairman
  $ 3,000 per meeting  
Special Board Meetings*
Non-employee Director
  $ 1,000 per meeting  
Chairman
  $ 1,500 per meeting  
Audit Committee Meetings*
Non-employee Director
  $ 2,000 per meeting  
Chairman
  $ 3,000 per meeting  
Compensation Committee Meetings*
Non-employee Director
  $ 1,000 per meeting  
Chairman
  $ 1,500 per meeting  
Nominating & Governance Committee Meetings*
Non-employee Director
  $ 1,000 per meeting  
Chairman
  $ 1,500 per meeting  
 
 
* For 2006, attendance by non-employee directors at special Board meetings, and meetings of the Audit, Compensation and Nominating & Governance Committees were limited to the following fee caps:
 
  •  Special Board Meetings: fees limited to 10 meetings per year
 
  •  Audit Committee Meetings: fees limited to 10 meetings per year
 
  •  Compensation Committee Meetings: fees limited to 6 meetings per year
 
  •  Nominating & Governance Committee Meetings: fees limited to 4 meetings per year


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Table of Contents

 
Starting in January 2007, the number of meetings for which non-employee directors are paid for attending will no longer be capped. The Compensation Committee and Board reviewed non-employee director compensation in December 2006, and the Board approved this change. No other changes were made.
 
Tod Nielsen, the sole employee director, receives no additional cash compensation for his service on our Board or any Board committee. All directors are reimbursed for their expenses in connection with their service on the Board and its committees.
 
This excerpt taken from the BORL 8-K filed Jan 17, 2007.

Fees

We pay cash fees to each non-employee director for his or her services. Fees paid include an annual retainer of $20,000 and a flat fee for attendance at each meeting of our Board and for attendance at each meeting of a Board committee on which they serve as follows:

 

Regularly Scheduled Board of Directors Meetings

  

Non-employee Director

   $2,000 per meeting

Chairman

   $3,000 per meeting

Special Telephonic Board Meetings

  

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

Audit Committee Meetings

  

Non-employee Director

   $2,000 per meeting

Chairman

   $3,000 per meeting

Compensation Committee Meetings

  

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

Nominating & Governance Committee Meetings

  

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

Our directors are reimbursed for reasonable expenses incurred in connection with attending Board or committee meetings. We do not provide any retirement benefits or other perquisites to our directors.

This excerpt taken from the BORL DEF 14A filed May 8, 2006.

Fees

 

We pay cash fees to each non-employee director for his or her services. Fees paid include an annual retainer of $20,000 and a flat fee, subject to certain fee caps described below, for attendance at each meeting of our Board and for attendance at each meeting of a Board committee on which they serve as follows:

 

Regularly Scheduled Board of Directors Meetings

Non-employee Director

   $2,000 per meeting

Chairman

   $3,000 per meeting

Special Telephonic Board Meetings (fees limited to 10 meetings per year)

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

Audit Committee Meetings (fees limited to 10 meetings per year)

Non-employee Director

   $2,000 per meeting

Chairman

   $3,000 per meeting

Compensation Committee Meetings (fees limited to 6 meetings per year)

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

Nominating & Governance Committee Meetings (fees limited to 4 meetings per year)

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

 

8


Table of Contents

The sole employee director receives no additional cash compensation for his service on our Board or any Board committee. All directors are reimbursed for their expenses in connection with their service on the Board and its committees.

 

This excerpt taken from the BORL 10-K filed May 2, 2006.

Fees

We pay cash fees to each non-employee director for his or her services. Fees paid include an annual retainer of $20,000 and a flat fee, subject to certain fee caps described below, for attendance at each meeting of our Board of Directors and for attendance at each meeting of a Board committee on which they serve as follows:

 

Regularly Scheduled Board of Directors Meetings

Non-employee Director

   $ 2,000 per meeting

Chairman

   $ 3,000 per meeting

Special Telephonic Board Meetings (fees limited to 10 meetings per year)

  

Non-employee Director

   $ 1,000 per meeting

Chairman

   $ 1,500 per meeting

Audit Committee Meetings (fees limited to 10 meetings per year)

  

Non-employee Director

   $ 2,000 per meeting

Chairman

   $ 3,000 per meeting

Compensation Committee Meetings (fees limited to 6 meetings per year)

  

Non-employee Director

   $ 1,000 per meeting

Chairman

   $ 1,500 per meeting

Nominating & Governance Committee Meetings (fees limited to 4 meetings per year)

Non-employee Director

   $ 1,000 per meeting

Chairman

   $ 1,500 per meeting

The sole employee director receives no additional cash compensation for his service on our Board of Directors or any Board committee. All directors are reimbursed for their expenses in connection with their service on our Board Directors and its committees.

This excerpt taken from the BORL 10-Q filed Aug 9, 2005.

Section 15. Fees

 

Each director may receive such fees and other compensation, along with reimbursement of expenses incurred on behalf of the corporation or in connection with attendance at meetings, as the Board of Directors may from time to time determine. No such payment of fees or other compensation shall preclude any director from serving the corporation in any other capacity and receiving fees and compensation for such services.

 

This excerpt taken from the BORL 8-K filed May 16, 2005.

Fees

 

Director compensation fees include an annual retainer of $20,000 and a flat fee, subject to certain fee caps described below, for attendance at each meeting of our board of directors and for attendance at each meeting of a board committee on which they serve as follows:

 

Regularly Scheduled Board of Directors Meeting

Non-employee Director

  $2,000 per meeting

Chairman

  $3,000 per meeting

 

Special Board Meetings (fees limited to 10 meetings per year)

Non-employee Director

  $1,000 per meeting

Chairman

  $1,500 per meeting

 

Audit Committee Meetings (fees limited to 10 meetings per year)

Non-employee Director

  $2,000 per meeting

Chairman

  $3,000 per meeting

 

Compensation Committee Meetings (fees limited to 6 meetings per year)

Non-employee Director

  $1,000 per meeting

Chairman

  $1,500 per meeting

 

Nominating & Governance Committee Meetings (fees limited to 4 meetings per year)

Non-employee Director

  $1,000 per meeting

Chairman

  $1,500 per meeting

 

The sole employee director receives no additional cash compensation for his service on our board or any board committee. All directors are reimbursed for their expenses in connection with their service on the board and its committees.

 

This excerpt taken from the BORL 10-Q filed May 10, 2005.

Fees

 

Director compensation fees include an annual retainer of $20,000 and a flat fee, subject to certain fee caps described below, for attendance at each meeting of our board of directors and for attendance at each meeting of a board committee on which they serve as follows:

 

Regularly Scheduled Board of Directors Meeting

 

Non-employee Director    $ 2,000 per meeting
Chairman    $ 3,000 per meeting

 

Special Telephonic Board Meetings (fees limited to 10 meetings per year)

 

Non-employee Director    $ 1,000 per meeting
Chairman    $ 1,500 per meeting

 

Audit Committee Meetings (fees limited to 10 meetings per year)

 

Non-employee Director

   $ 2,000 per meeting

Chairman

   $ 3,000 per meeting

 

Compensation Committee Meetings (fees limited to 6 meetings per year)

 

Non-employee Director

   $ 1,000 per meeting

Chairman

   $ 1,500 per meeting

 

Corporate Governance Committee Meetings (fees limited to 4 meetings per year)

 

Non-employee Director

   $ 500 per meeting

Chairman

   $ 750 per meeting

 

Nominating Committee Meetings (fees limited to 4 meetings per year)

 

Non-employee Director

   $ 500 per meeting

Chairman

   $ 750 per meeting

 

The sole employee director receives no additional cash compensation for his service on our board or any board committee. All directors are reimbursed for their expenses in connection with their service on the board and its committees.

 

This excerpt taken from the BORL DEF 14A filed Apr 8, 2005.

Fees

 

We pay cash fees to each non-employee director for his or her services. Fees paid include an annual retainer of $20,000 and a flat fee, subject to certain fee caps described below, for attendance at each meeting of our board of directors and for attendance at each meeting of a board committee on which they serve as follows:

 

Regularly Scheduled Board of Directors Meetings

Non-employee Director

   $2,000 per meeting

Chairman

   $3,000 per meeting

Special Telephonic Board Meetings (fees limited to 10 meetings per year)

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

Audit Committee Meetings (fees limited to 10 meetings per year)

Non-employee Director

   $2,000 per meeting

Chairman

   $3,000 per meeting

Compensation Committee Meetings (fees limited to 6 meetings per year)

Non-employee Director

   $1,000 per meeting

Chairman

   $1,500 per meeting

Corporate Governance Committee Meetings (fees limited to 4 meetings per year)

Non-employee Director

   $500 per meeting

Chairman

   $750 per meeting

Nominating Committee Meetings (fees limited to 4 meetings per year)

Non-employee Director

   $500 per meeting

Chairman

   $750 per meeting

 

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Table of Contents

The sole employee director receives no additional cash compensation for his service on our board or any board committee. All directors are reimbursed for their expenses in connection with their service on the board and its committees.

 

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