| 2002-03-22 |
C. Warren Ormerod (65)......... Director of the Fund; Chairman Class I 2001 $-0-
and Managing Director, (2003++)
NorthStar Asset Management
(since 2000); Managing Partner,
Stratton Management Company
(1992-2000); Executive Vice
President, Continental Bancorp
(1968-1992).
Compensation of Directors
...
COMPENSATION TABLE
PENSION OR
RETIREMENT TOTAL
AGGREGATE BENEFITS ACCRUED ESTIMATED ANNUAL COMPENSATION
COMPENSATION AS PART OF FUND BENEFITS UPON FROM FUND PAID
NAME OF PERSON FROM FUND EXPENSES RETIREMENT TO DIRECTORS*
-------------- ------------ ---------------- ---------------- --------------
C. Warren Ormerod**................. $1,250 $-0- $-0- $1,250
Committees and Board of Directors' Meetings
...
Currently, Messrs. Herlihy,
Grosz and Ormerod serve as members of the Audit Committee of the Board.
...
The current members
of the Nominating Committee are Messrs. Herlihy, Grosz and Ormerod.
| 2003-03-18 |
C. Warren Ormerod (66) Director Current Term expires 2003; Director since 2001 Chairman and Managing Director, NorthStar Asset Management (since 2000); Managing Partner, Stratton Management Company (1992-2000); Executive Vice President, Continental Bancorp (1968-1992). The Fund has a standing Audit Committee of the Board comprised entirely of directors who are not interested persons of the Fund. Currently, Messrs. Herlihy, Grosz and Ormerod serve as members of the Audit Committee. The Fund also has a standing Nominating Committee of the Board comprised entirely of directors who are not interested persons of the Fund. The current members of the Nominating Committee are Messrs. Herlihy, Grosz and Ormerod. The following table provides information concerning the compensation paid by the Fund to directors for services rendered during the Fund's fiscal year ended November 30, 2002. C. Warren Ormerod $5,250 |
| 2004-03-22 |
C. Warren Ormerod (67) Class I Director Term expires 2006; Director since 2001 Chairman and Managing Director, NorthStar Asset Management (since 2000); Managing Partner, Stratton Management Company (1992- 2000). The Fund has a standing Audit Committee of the Board comprised of all Directors who are not interested persons of the Fund. Currently, Messrs. Herlihy, Grosz and Ormerod serve as members of the Audit Committee. The Audit Committee held two meetings during the fiscal year ended November 30, 2003. The Fund also has a standing Nominating Committee of the Board that acts pursuant to a written charter. The Nominating Committee currently consists of Messrs. Herlihy, Grosz and Ormerod. The following table provides information concerning the compensation paid by the Fund to Directors for services rendered during the Fund's fiscal year ended November 30, 2003. C. Warren Ormerod compensation was $6,500. |
| 2005-03-21 |
C. Warren Ormerod Age 68 Class I Director Term expires 2006; Director since 2001 Chairman and Managing Director, NorthStar Asset Management (since 2000); Managing Partner, Stratton Management Company (1992 - 2000). The Fund has a standing Audit Committee of the Board comprised of all Directors who are not "interested persons" of the Fund... Currently, Messrs. Herlihy, Grosz and Ormerod serve as members of the Audit Committee. The Fund also has a standing Nominating Committee of the Board... The Nominating Committee currently consists of Messrs. Herlihy, Grosz and Ormerod. The following table provides information concerning the compensation paid by the Fund to Directors for services rendered during the Fund's fiscal year ended November 30, 2004... C. Warren Ormerod $7,750. |
| 2006-03-17 |
C. Warren Ormerod, Age 69, Class I Director, Term expires 2006; Director since 2001. Chairman and Managing Director, NorthStar Asset Management (since 2000); Managing Partner, Stratton Management Company (1992-2000). Compensation: $7,000. Committees: Audit Committee, Nominating Committee. |
| 2007-03-19 |
C. Warren Ormerod Age 70 Class I Director Term expires 2009; Director since 2001 Chairman and Managing Director, NorthStar Asset Management (since 2000); Managing Partner, Stratton Management Company (1992-2000). The Fund has a standing Audit Committee of the Board comprised of all Directors who are not interested persons of the Fund... Currently, Messrs. Herlihy, Grosz and Ormerod serve as members of the Audit Committee... The Fund also has a standing Nominating Committee of the Board that acts pursuant to a written charter... The Nominating Committee currently consists of Messrs. Herlihy, Grosz and Ormerod... The following table provides information concerning the compensation paid by the Fund to Directors for services rendered during the Fund's fiscal year ended November 30, 2006... C. Warren Ormerod $9,750. |
| 2008-04-02 |
C. Warren Ormerod Age 71 Class I Director Term expires 2009; Director since 2001 The Fund has a standing Audit Committee of the Board comprised of all Directors who are not interested persons of the Fund... Currently, Messrs. Herlihy and Ormerod and Ms. Fairchild serve as members of the Audit Committee... The Fund also has a standing Nominating Committee of the Board... The Nominating Committee currently consists of Messrs. Herlihy and Ormerod and Ms. Fairchild. Compensation Table: C. Warren Ormerod $9,000 total compensation. |
| 2009-03-13 |
C. Warren Ormerod Age 72 Class I Director Term expires 2009; Director since 2001 1 Fund Chairman and Managing Director, NorthStar Asset Management (since 2000); Managing Partner, Stratton Management Company (1992-2000). The Fund has a standing Audit Committee of the Board comprised of all Directors who are not interested persons of the Fund, the Fund's investment adviser or their affiliates within the meaning of the Investment Company Act of 1940, as amended (the 1940 Act), and who are independent as defined in the New York Stock Exchange applicable listing standards. Currently, Messrs. Herlihy and Ormerod and Ms. Fairchild serve as members of the Audit Committee. The Audit Committee held two meetings during the fiscal year ended November 30, 2008. The Fund also has a standing Nominating Committee of the Board that acts pursuant to a written charter. The Nominating Committee currently consists of Messrs. Herlihy and Ormerod and Ms. Fairchild. The Nominating Committee met once during the fiscal year ended November 30, 2008. The following table provides information concerning the compensation paid by the Fund to Directors for services rendered during the Fund's fiscal year ended November 30, 2008. C. Warren Ormerod $ 9,000 Total Compensation. |
| 2010-03-10 |
C. Warren Ormerod Age 73 Class I Director Term expires 2012; Director since 2001 Chairman and Managing Director, NorthStar Asset Management (since 2000); Managing Partner, Stratton Management Company (1992-2000). The Fund has a standing Audit Committee of the Board comprised of all Directors who are not "interested persons" of the Fund, the Fund's investment adviser or their affiliates within the meaning of the Investment Company Act of 1940, as amended (the "1940 Act"), and who are "independent" as defined in the New York Stock Exchange applicable listing standards. Currently, Messrs. Herlihy and Ormerod and Ms. Fairchild serve as members of the Audit Committee. The Audit Committee held two meetings during the fiscal year ended November 30, 2009. The Fund also has a standing Nominating Committee of the Board that acts pursuant to a written charter. The Nominating Committee currently consists of Messrs. Herlihy and Ormerod and Ms. Fairchild. The Nominating Committee did not meet during the fiscal year ended November 30, 2009. The following table provides information concerning the compensation paid by the Fund to Directors for services rendered during the Fund's fiscal year ended November 30, 2009. C. Warren Ormerod $ 9,000. |
| 2011-01-04 |
C. Warren Ormerod $10,500 Independent Directors of the Fund taken as a group were either paid or had accrued Directors fees during the fiscal year ended November 30, 2010 in the aggregate amount of $31,500. Currently, the basis of compensation for the Independent Directors is a fee of $2,000 for each regular Board meeting attended, $750 for each special meeting attended, plus $1,000 per year for audit committee members. |
|