Aqua America, Inc. 2014 Non-Employee Directors’ Compensation Program
Aqua America, Inc. established its 2014 compensation plan for non-employee directors, as approved by its Board of Directors. The plan provides annual cash retainers, additional retainers for committee chairs, meeting fees for board and committee attendance, and an annual stock grant. Directors are also reimbursed for reasonable expenses related to attending meetings. This arrangement outlines the compensation structure and benefits for non-employee directors for the year 2014.
Exhibit 10.9
Non-Employee Directors’ Compensation for 2014
At its regularly scheduled meeting on December 5, 2013, the Board of Directors of Aqua America, Inc., upon the recommendation of its Executive Compensation Committee, approved the following directors’ compensation for 2014 for the non-employee directors of Aqua America, Inc.: (1) an annual cash retainer of $45,000; (2) an annual cash retainer for the Chair of the Executive Compensation Committee of $10,000; (3) an annual cash retainer for the Chair of the Audit Committee of $10,000; (4) an annual cash retainer for the Chair of the Corporate Governance Committee, who also serves as the lead independent directors, of $10,000; (5) a meeting fee of $2,000 for each meeting of the Board of Directors; (5) a meeting fee of $1,500 per meeting for meetings of the Board Committees; and (6) an annual stock grant to directors of $50,000, rounded to the nearest 100 shares payable on the first of the month following the Annual Meeting of Shareholders. All directors are reimbursed for reasonable expenses incurred in connection with attendance at Board or Committee meetings.
