A. O. Smith Corporation Non-Employee Directors’ Compensation Summary Effective July 12, 2021
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Summary
A. O. Smith Corporation outlines the compensation for its non-employee directors, effective July 12, 2021. Each director receives an annual cash retainer of $103,500, paid quarterly, and an annual award of common stock valued at $140,000. The Lead Director and committee chairpersons receive additional annual retainers, also paid quarterly. Committee member retainers have been discontinued. This summary sets forth the structure and amounts of compensation for board service.
EX-10.1 2 aos-20210630xex101.htm EX-10.1 Document
Exhibit 10.1
SUMMARY OF DIRECTORS’ COMPENSATION
Effective July 12, 2021, compensation paid to non-employee directors of A. O. Smith Corporation is as follows: Directors will receive an annual cash retainer of $103,500, paid quarterly. Each director receives Common Stock with the market value of $140,000 on the date of the award. The Lead Director receives an additional annual retainer of $30,000, paid quarterly. The Chairperson of the Audit Committee receives an additional annual retainer of $20,000, paid quarterly. The Chairperson of the Nominating and Governance Committee and the Personal and Compensation Committee receives an additional annual retainer of $15,000, paid quarterly. The committee member retainers have been eliminated.
