Sarbanes-Oxley = increased directors fees
Sarbanes-Oxley (SOX) has turned corporate governance on its head, changing the way companies select auditing firms, assess internal controls and conflicts of interest. More and more board members are saying no to new board appointments. When they do agree to join the fees they demand are significantly higher.
Recent studies are confirming this trend. Typical compensation ranges from $20,000 to $200,000 per year depending on size of the company and the members responsibilities. Compensation is also getting more complex including aspects such as:
- Basic retainer (plus per-meeting fees, telephonic meeting fees and committee fees)
- Life insurance, health plans, stock option plans and D&O insurance
