METRETEK TECHNOLOGIES INC
EX-10.17
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<TYPE>EX-10.17
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<DESCRIPTION>EX-10.17
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.17
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><B>METRETEK TECHNOLOGIES, INC.</B>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><U><B>Summary Sheet of Compensation of Non-Employee Directors </B></U><BR>
<U><B>(Effective January&nbsp;1, 2007)</B></U>

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    <TD width="1%">&nbsp;</TD>
    <TD width="78%">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Cash Retainer:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$3,000 per month</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Meeting Fees:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">$1,500 per meeting of a Committee of the Board, provided (i)&nbsp;no meeting fees are payable if a Board
meeting is held on the same day, and (ii)&nbsp;only one meeting fee is payable per day, regardless of how
many meetings are held that day</TD>
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    <TD>&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Stock Options upon Initial <BR>
Election or Appointment:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">5,000 shares of Common Stock</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">Annual Stock Options:
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Granted annually on the date of the
Annual Meeting of Stockholders<br><br>
Non-qualified stock options to purchase 7,500 shares of Common Stock</TD>
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Vesting is one-third upon date of grant, one-third upon first anniversary
of grant date and one-third upon second anniversary of grant date</TD>
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    <TD>&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
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    <TD>&nbsp;</TD>
    <TD align="left" valign="top">The Exercise Price is equal to the fair market value of the Common Stock
on the date of grant (based upon the last sale price of the Common Stock
on such date as reported on the American Stock Exchange or on such other
principal stock exchange or stock market on which the Common Stock is then
listed or traded)</TD>
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    <TD>&nbsp;</TD>
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    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">&nbsp;
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="left" valign="top">Term is 10&nbsp;years, subject to earlier termination upon death, disability or
termination of service (in which event the term continues for one year
after termination for each year of services on the Board)</TD>
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