Affiliated Managers Group, Inc. Annual Director Compensation Policy (2005)
Affiliated Managers Group, Inc. has updated its compensation policy for non-employee directors based on a peer group survey. Non-employee directors will receive an annual fee of $50,000, a quarterly meeting fee of $2,500, and an annual stock option award. Additional fees are provided for lead directors and committee service, including $50,000 for the lead director, $10,000 for committee membership, and extra amounts for chairing specific committees. These changes reflect increased compensation trends among similar companies.
Exhibit 10.1
ANNUAL DIRECTOR COMPENSATION
On July 26, 2005, in connection with its review of the compensation arrangements of Affiliated Managers Group, Inc. (the “Company”), the Compensation Committee engaged an independent compensation consultant to perform a survey of director compensation practices at companies in the Company’s peer group. This survey found that compensation for lead directors and committee chairpersons, as well as annual retainers, had increased throughout the peer group. On that basis, the Board of Directors determined to increase lead director, committee chairperson and annual fee compensation, and accordingly approved the following compensation arrangements for non-employee directors of the Company:
| Board of Directors: |
|
|
| |
| Board of Directors Annual Fee |
| $ | 50,000 |
|
| Board of Directors Quarterly Meeting Fee |
| $ | 2,500 |
|
| Board of Directors Annual Option Award |
| 11,250 |
| |
| Lead Director and Committee Service: |
|
|
| |
| Lead Director Annual Fee |
| $ | 50,000 |
|
| Committee Membership Annual Fee |
| $ | 10,000 |
|
| Audit Committee Chair Annual Fee |
| $ | 25,000 |
|
| Compensation Committee Chair Annual Fee |
| $ | 10,000 |
|
| Nominating and Governance Committee Chair Annual Fee |
| $ | 5,000 |
|
