KMG America – Fiscal 2007 Compensation (March 14th, 2007)
The Corporations non-employee directors John H. Flittie, James J. Ritchie, Robert L. Laszewski, and Dennis M. Mathisen - receive an annual retainer of $20,000 ($27,500 for Mr. Flittie who is the Chairman of the Audit Committee) paid quarterly. The annual retainers are paid in quarterly installments of unrestricted Common Stock of the Corporation, valued on the fifth business day prior to the last calendar day of the quarter for which the payment is made. Each non-employee director also receives cash fees of $1,500 for each Board and Committee meeting attended in person, and $750 for each meeting attended by telephone. All of the Corporations directors are reimbursed for reasonable out-of-pocket expenses they incur in attending Board and Committee meetings. Members of the Board who are also employees of the Corporation do not receive any additional compensation for serving on the Board.