January 1, 2009, CompuCredit Corporation (the “Company”) will pay each outside
director who is independent in accordance with the NASDAQ and SEC rules
governing director independence (an “Eligible Director”) the following for
service to the Company:
Fee for Each Board Meeting (including telephonic
Fee for Each Committee Meeting (including telephonic
addition, the Chairman of the Audit Committee will receive an additional annual
fee of $25,000. The Chairman of each of the Nominating and Corporate
Governance Committee and the Compensation Committee will receive an additional
annual fee of $5,000.
Eligible Director also will receive an annual restricted stock award of 28,000
shares. The restricted stock award will vest in two equal annual
installments beginning on the first anniversary of the grant date.
Company will also reimburse all reasonable out-of-pocket travel expenses that
are incurred in connection with board and committee meetings.