Aqua America, Inc. 2013 Non-Employee Directors’ Compensation Policy
Aqua America, Inc. has set its 2013 compensation for non-employee directors, including annual cash retainers, meeting fees, and an annual stock grant. Non-employee directors receive a $40,000 annual retainer, additional retainers for committee chairs, $1,500 per board or committee meeting attended, and a $50,000 annual stock grant. Directors are also reimbursed for reasonable expenses related to attending meetings. This policy was approved by the Board of Directors on December 10, 2012, based on the Executive Compensation Committee’s recommendation.
Exhibit 10.20
Non-Employee Directors’ Compensation for 2013
At its regularly scheduled meeting on December 10, 2012, the Board of Directors of Aqua America, Inc., upon the recommendation of its Executive Compensation Committee, approved the following directors’ compensation for 2013 for the non-employee directors of Aqua America, Inc.: (1) an annual cash retainer of $40,000; (2) an annual cash retainer for the Chair of the Executive Compensation Committee of $7,500; (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 $1,500 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.
