Essential Utilities, Inc. Non-Employee Directors’ Compensation Program Effective January 1, 2022
Essential Utilities, Inc. has established a compensation program for its non-employee directors, effective January 1, 2022. Non-employee directors receive an annual cash retainer of $105,000 and an annual stock grant valued at $110,000. Additional cash retainers are provided for directors serving as committee chairs or as Lead Independent Director. All directors are reimbursed for reasonable expenses related to attending board or committee meetings. This program was approved by the Board of Directors based on recommendations from its Executive Compensation and Corporate Governance Committees.
Exhibit 10.1
Essential Utilities, Inc.
Non-Employee Directors’ Compensation, effective January 1, 2022
At its regularly scheduled meeting on December 6, 2021, the Board of Directors of Essential Utilities, Inc., upon the recommendation of its Executive Compensation Committee and its Corporate Governance Committee, approved increases in the annual cash retainer and annual stock retainer paid to all non-employee directors. Following such approval, the compensation program for non-employee directors of Essential Utilities, Inc. is:
| · | an annual cash retainer of $105,000; |
| · | an additional annual cash retainer for the Chair of the Executive Compensation Committee of $15,000; |
| · | an additional annual cash retainer for the Chair of the Audit Committee of $20,000; |
| · | an additional annual cash retainer for the Chair of the Corporate Governance Committee of $15,000; |
| · | an additional annual cash retainer for the Chair of the Risk Mitigation Committee of $15,000; |
| · | an additional annual cash retainer for the Lead Independent Director of $30,000; and |
| · | an annual stock grant to non-employee directors of $110,000. |
All directors are reimbursed for reasonable expenses incurred in connection with attendance at Board or Committee meetings.
