iii. $10,000 for the chair of the Nominating and Corporate Governance Committee.

Committee chair retainer: $20,000 per year for the Audit Committee chair, $15,000 per year for the Compensation Committee chair, and $10,000 per year for the Nominating and Corporate Governance Committee chair, paid in quarterly installments in arrears.

iii. $10,000 for the chair of the Nominating and Corporate Governance Committee.

Commencing on the IPO Date, each eligible Non-Employee Director will be eligible to receive the equity compensation set forth below. Equity awards will be granted under the Company’s 2021 Equity Incentive Plan (the “Plan”).

As of January 1, 2022, compensation arrangements for non-employee directors of Barrett Business Services, Inc. (the "Company"), include an annual retainer of $65,000 ($135,000 for the Chairman of the Board) payable in cash in monthly installments. Committee chairs receive an annual cash retainer, payable in monthly installments, as follows: chair of Audit and Compliance Committee, $15,000; chair of Compensation Committee, $10,000; chair of Risk Management Committee, $10,000; and chair of Corporate Governance and Nominating Committee, $10,000. Committee members receive an annual cash retainer, payable in monthly installments, as follows: Audit and Compliance Committee, $7,500; Compensation Committee, $5,000; Risk Management Committee, $5,000; and Corporate Governance and Nominating Committee, $5,000.

Annual Committee Member (other than Chair) Fees:

Equity awards will be granted under the Company’s 2019 Equity Incentive Plan, as amended from time to time, or any successor equity incentive plan (the “Plan”). All stock options granted under the Director Compensation Policy will be Nonstatutory Stock Options (as defined in the Plan), with a term of ten years from the date of grant (subject to earlier termination upon a termination of the Non-Employee Director’s Continuous Service (as defined in the Plan)) and an exercise price per share equal to 100% of the Fair Market Value (as defined in the Plan) of a share of the Company’s common stock on the date of grant.

Annual cash retainers for committee chairs will be paid on the date of the company’s annual stockholder meeting. If a Director commences as a committee chair on any date other than the company’s annual stockholder meeting, the Director will receive a pro-rated annual cash retainer for the year, as calculated based upon the number of days between the date upon which the Director commences as a committee chair and the date of the company’s next annual stockholder meeting. The pro-rated annual cash retainer will be paid as soon as practicable following the date upon which the Director commences as a committee chair.

Committee member retainer: $10,000 per year for each non-chair member of the Audit Committee, $7,500 per year for each non-chair member of the Compensation Committee, and $5,000 per year for each non-chair member of the Nominating and Corporate Governance Committee, paid in quarterly installments in arrears.

Equity awards will be granted under the Company’s 2019 Equity Incentive Plan, as amended from time to time, or any successor equity incentive plan (the “Plan”). All stock options granted under the Director Compensation Policy will be Nonstatutory Stock Options (as defined in the Plan), with a term of ten years from the date of grant (subject to earlier termination upon a termination of the Non-Employee Director’s Continuous Service (as defined in the Plan)) and an exercise price per share equal to 100% of the Fair Market Value (as defined in the Plan) of a share of the Company’s common stock on the date of grant.