Each director shall be entitled to an Equity Retainer equal to $135,000.

b. $60,000 in common stock.

Each director shall be entitled to an Equity Retainer equal to $150,000.

Retainer Grant. Each Non-Employee Director may elect to convert all of his or her cash compensation under Section 1 for the first calendar quarter that commences after the IPO Date and any subsequent calendar quarter into an RSU Award (each, a “Retainer Grant”) in accordance with this Section 2(a) (such election, a “Retainer Grant Election”). If a Non-Employee Director timely makes a Retainer Grant Election pursuant to Section 2(a)(ii), on the first business day following the applicable Retainer Accrual Date to which the Retainer Grant Election applies, and without any further action by the Board or Compensation Committee, such Non-Employee Director automatically will be granted an RSU Award covering a number of shares of Common Stock equal to # the aggregate amount of cash compensation otherwise payable to such Non-Employee Director under Section 1 on the Retainer Accrual Date to which the Retainer Grant Election applies divided by # the closing sales price per share of the Common Stock on the applicable Retainer Accrual Date (or, if such date is not a business day, on the first business day thereafter), rounded down to the nearest whole share. Each Retainer Grant will be fully vested on the applicable grant date.

Each director shall be entitled to a Cash Retainer equal to $90,000.

Each director shall be entitled to a Cash Retainer equal to $80,000.

Each director shall be entitled to an Equity Retainer equal to $120,000.

ANNUAL RETAINER. Each Eligible Participant shall be paid an Annual Retainer for service as a director during each Plan Year. The amount of the Annual Retainer shall be established from time to time by the Board. Until changed by the Board, the Annual Retainer for a full Plan Year shall be $20,000. The Annual Retainer shall be payable as provided in [Section 6.3] of the Restricted Share Plan, and as described in [Section 6.3] the Restricted Share Plan, each Eligible Participant may elect to receive his or her Annual Retainer exclusively in cash, exclusively in Independent Director Shares, or any portion in cash and Independent Director Shares, or on such other terms and conditions as may be authorized by the Company and permitted, without penalty, under Code [[Unknown Identifier]].

Retainer Grant. Each Non-Employee Director may elect to convert all of his or her cash compensation under Section 1 for the first calendar quarter that commences after the IPO Date and any subsequent calendar quarter into an RSU Award (each, a “Retainer Grant”) in accordance with this Section 2(a) (such election, a “Retainer Grant Election”). If a Non-Employee Director timely makes a Retainer Grant Election pursuant to Section 2(a)(ii), on the first business day following the applicable Retainer Accrual Date to which the Retainer Grant Election applies, and without any further action by the Board or Compensation Committee, such Non-Employee Director automatically will be granted an RSU Award covering a number of shares of Common Stock equal to # the aggregate amount of cash compensation otherwise payable to such Non-Employee Director under Section 1 on the Retainer Accrual Date to which the Retainer Grant Election applies divided by # the closing sales price per share of the Common Stock on the applicable Retainer Accrual Date (or, if such date is not a business day, on the first business day thereafter), rounded down to the nearest whole share. Each Retainer Grant will be fully vested on the applicable grant date.

Each director shall be entitled to an Equity Retainer equal to $135,000.