SUMMARY OF INDEPENDENT DIRECTOR COMPENSATION POLICY
Exhibit 10.17
SUMMARY OF INDEPENDENT DIRECTOR COMPENSATION POLICY
The Addus HomeCare Corporation (the Corporation) independent director compensation policy provides that independent directors receive an annual retainer of $45,000 for service on the Corporations board of directors, $1,500 per in person scheduled board meeting (whether attended in person or telephonically) and $750 per telephonic board meeting.
The chairman of the Corporations board of directors receives an additional annual retainer of $20,000. The chairmen of the Corporations audit committee, compensation committee and nominating and corporate governance committee receive an additional annual retainer of $15,000, $10,000 and $7,500, respectively. Independent directors who serve on the audit committee receive $1,500 per audit committee meeting attended and independent directors who serve on other committees receive $1,000 per committee meeting attended. Independent directors are also reimbursed for reasonable expenses incurred in attending board of directors meetings, committee meetings and stockholder meetings.
In addition, each independent director is entitled to receive an annual grant of restricted shares of the Corporations common stock valued at $40,000, which shall be awarded following the Corporations annual meeting each year beginning with the Corporations 2016 annual meeting. Each grant of restricted stock to an independent director shall vest on the first anniversary of the date of issuance.
The foregoing independent director compensation is effective March 1, 2016 and is subject to review and adjustment on the recommendation of the Corporations nominating and corporate governance committee.