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