Monthly Retainer. For the services provided to the Company as a director and until such time as the Board (or its designated Committee) establishes different compensation for its non-employee directors, the Company will pay to Director a retainer in the amount of $5,000 per month (the "Retainer") for each month that Director serves as a director of the Company. The Retainer will be paid to Director by the fifteenth day of each month. Director and the Company each acknowledge and agree that the compensation paid to Director for services provided to the Company may be amended or modified by the Board at any time and from time to time.
Appears in 2 contracts
Sources: Independent Director Agreement (Rex Energy Corp), Independent Director Agreement (Rex Energy Corp)