Being on the board of a publicly-traded company also opens yourself up to a lot of personal liability, as you're legally bound to act in the best interest of shareholders. I personally would not want the job; if I were wealthy & accomplished enough to be offered a board membership, I'd much rather have a quiet life out of the public eye than wrestle with concerns of a multi-billion-dollar enterprise that needs to satisfy many different constituencies. Being on the board of a non-profit, however, can be pretty cool. You usually don't get a salary for that though.
They have insurance for this tho, I thought. Its paid for by the company. That being said, once upon a time this was a much better job than it is today, but for other reasons.
http://www.sec.gov/Archives/edgar/data/1001039/0001193125120...
But they were in the process of increasing it by about $30k, so probably closer to $300k/year now.