21st Century Insurance Group Director Compensation Policy (Effective December 30, 2002)
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Summary
This document outlines the compensation policy for members of the Board of Directors of 21st Century Insurance Group, effective December 30, 2002. Directors receive an annual retainer of $25,000, a $1,500 fee for each meeting attended (limited to one fee per meeting day), and Audit Committee members receive an additional $5,000 annual retainer. Compensation is paid monthly on a pro-rata basis. Directors are also reimbursed for travel and other expenses related to their board duties.
EX-10.R 3 ex10_r.htm EXHIBIT 10.R Unassociated Document
EXHIBIT 10 (r)
DIRECTOR COMPENSATION
Effective December 30, 2002, the Board of Directors of 21st Century Insurance Group approved the following compensation:
| 1. | Annual retainer - $25,000 |
| 2. | Meeting fee - $1500 |
| 3. | Special annual retainer to members of the Audit Committee - $5000. |
The retainers are paid monthly on a pro-rata basis while the meeting fee is limited to one fee for each meeting day in which a Director is in attendance. The Directors are also reimbursed for travel and other expenses related to their responsibilities as members of the Board of Directors.
