OCNW » Topics » COMPENSATION OF DIRECTORS

This excerpt taken from the OCNW 8-K filed Jan 20, 2009.

COMPENSATION OF DIRECTORS

 

Section 15.                                      Unless otherwise restricted by the certificate of incorporation or these Bylaws, the Board of Directors shall have the authority to fix the compensation of directors.  The directors may be paid their expenses, if any, of attendance at each meeting of the Board of Directors, may be paid a fixed sum for attendance at each meeting of the Board of Directors or a stated salary as director and may receive stock grants from the corporation.  No such payment shall preclude any director from serving the corporation in any other capacity and receiving compensation therefor.  Members of special or standing committees may be allowed like compensation for attending committee meetings.

 

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