Jim - The early estimate of $100,000 was way low and ignored Options.
Short answer:  Avg.
Board fees in 2000 were $79,000 (about 1/3 required to be deferred).
Plus avg.
phantom stock grant of $53,000 and stock options of $205,000, for total AVG 2000 value of $337000.
Obviously big variable is value of options, which are based on a fixed number but a varying Black Scholes value.
Paula

BoD Comp - Important