Aqua America, Inc. 2016 Non-Employee Directors’ Compensation Schedule
Aqua America, Inc. has set the 2016 compensation for its non-employee directors. Each director receives an annual cash retainer of $75,000 and an annual stock grant of $75,000. Additional cash retainers are provided for committee chairs and the Lead Independent Director, ranging from $10,000 to $25,000. The non-executive Chairman receives a $175,000 annual retainer plus the standard equity award. All directors are reimbursed for reasonable expenses related to board or committee meetings.
Exhibit 10.16
Non-Employee Directors’ Compensation for 2016
At its regularly scheduled meeting on December 1, 2015, the Board of Directors of Aqua America, Inc., upon the recommendation of its Executive Compensation Committee, approved the following directors’ compensation for 2016 for the non-employee directors of Aqua America, Inc.: (1) an annual cash retainer of $75,000; (2) an annual cash retainer for the Chair of the Executive Compensation Committee of $12,500; (3) an annual cash retainer for the Chair of the Audit Committee of $12,500; (4) an annual cash retainer for the Chair of the Corporate Governance Committee of $10,000; (5) an annual cash retainer for the Chair of the Risk Mitigation Committee of $10,000; (6) an annual cash retainer for the Lead Independent Director of $25,000; (7) an annual stock grant to directors of $75,000; and (8) the non-executive Chairman shall be paid a retainer in the amount of $175,000 per year and the normal Director equity award as set forth above. All Directors are reimbursed for reasonable expenses incurred in connection with attendance at Board or Committee meetings.
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