EX-10.12 5 dex1012.htm SCHEDULE OF VIRGINIA FINANCIAL GROUP, INC Schedule of Virginia Financial Group, Inc

EXHIBIT 10.12

Director Compensation Plan 2007

Basic Fees

 

Position

    Board    Committee
      Audit and P&C    Other

Chairman

    $ 24,000    $ 5,500    $ 3,500

Member

    $ 18,000    $ 4,000    $ 2,500

Performance Grants

 

  •  

Performance Grants are made only if VFGI meets its budget goals

 

  •  

At budget members receive nonqualified stock option grants valued at 25% of their Board (not Committee) Retainers.

 

  •  

The maximum grant made under the plan is 37.5% of a member’s Board Retainer