CBNK » Topics » Director Compensation

This excerpt taken from the CBNK DEF 14A filed Apr 13, 2009.

Director Compensation

Our outside directors are compensated through a combination of retainers and meeting fees. Outside directors also participate in our equity incentive plan. Directors who are also employees of Chicopee Bancorp do not receive additional compensation for service on the Board. The level and mix of director compensation is revised by the Compensation Committee on a periodic basis to ensure consistency with the objectives of our overall compensation philosophy. See “Director Compensation” for the compensation paid to our board of directors in 2008.

 

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This excerpt taken from the CBNK DEF 14A filed Apr 25, 2008.

Director Compensation

Our outside directors are compensated through a combination of retainers and meeting fees. Outside directors also participate in our equity incentive plan. Directors who are also employees of Chicopee Bancorp do not receive additional compensation for service on the Board. The level and mix of director compensation is revised by the Compensation Committee on a periodic basis to ensure consistency with the objectives of our overall compensation philosophy. See “Director Compensation” for the compensation paid to our board of directors in 2007.

 

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This excerpt taken from the CBNK DEF 14A filed Apr 18, 2007.

Director Compensation

The following table provides the compensation received by individuals who served as non-employee directors of the Company and the Bank during the 2006 fiscal year.

 

Name

  

Fees Earned
or

Paid in

Cash

($)

  

Total

($)

Thomas J. Bardon

   $ 7,800    $ 7,800

James H. Bugbee

     9,300      9,300

Arthur F. DuBois

     21,400      21,400

Louis E. Dupuis

     15,800      15,800

Douglas K. Engebretson

     7,808      7,808

Edward J. Fitzgerald

     10,950      10,950

David P. Fontaine

     10,550      10,550

William J. Giokas

     19,475      19,475

Francine Jasinski Hayward

     9,000      9,000

James P. Lynch

     19,292      19,292

William D. Masse

     10,950      10,950

Edmund J. Mekal

     7,800      7,800

John P. Moylan

     21,100      21,100

Gregg F. Orlen

     22,300      22,300

Paul C. Picknelly

     9,183      9,183

Barry W. Soden

     20,408      20,408

Edwin M. Sowa

     7,800      7,800

Judith T. Tremble

     9,000      9,000

Cash Retainers and Fees for Non-Employee Directors. Each non-employee director of Chicopee Bancorp receives a $3,000 annual retainer. In 2006, members of the Audit Committee received an additional $1,500 retainer. In 2007, the Audit Committee retainer was increased to $3,500.

Each non-employee director of the Bank receives $450 per meeting of the Board of Directors attended. In addition, each member of the Executive Committee receives a $13,000 annual retainer, while members of subcommittees of the Bank’s Board of Directors receive $300 per meeting attended. In 2006, the members of the Bank’s Audit Committee received $400 per meeting attended. This committee has been eliminated at the Bank level for the 2007 fiscal year. William J. Giokas receives $400 per meeting of the Bank attended, in addition to the fees paid to directors, for service as Clerk of the Bank.

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