Aqua America, Inc. 2012 Non-Employee Directors’ Compensation Program
Aqua America, Inc. has set the 2012 compensation for its non-employee directors. Each director receives an annual cash retainer of $33,000, with additional retainers for committee chairs. Directors also earn $1,500 for each board or committee meeting attended and receive an annual stock grant valued at $50,000. All reasonable expenses related to meeting attendance are reimbursed. This compensation plan was approved by the Board of Directors based on the Executive Compensation Committee’s recommendation.
Exhibit 10.21
Non-Employee Directors’ Compensation for 2012
At its regularly scheduled meeting on December 6, 2011, the Board of Directors of Aqua America, Inc., upon the recommendation of its Executive Compensation Committee, approved the following directors’ compensation for 2012 for the non-employee directors of Aqua America, Inc.: (1) an annual cash retainer of $33,000; (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.
