Aqua America, Inc. 2010 Non-Employee Directors’ Compensation Program
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Summary
Aqua America, Inc. has set the 2010 compensation for its non-employee directors. Directors receive an annual cash retainer of $28,000, with additional retainers for committee chairs ($7,500 for Executive Compensation and Corporate Governance, $10,000 for Audit). Directors also earn $1,500 for each Board or committee meeting attended and receive an annual grant of 2,000 company shares after the Annual Meeting of Shareholders. All reasonable expenses related to meeting attendance are reimbursed.
EX-10.32 6 c96764exv10w32.htm EXHIBIT 10.32 Exhibit 10.32
Exhibit 10.32
Non-Employee Directors’ Compensation for 2010
At its regularly scheduled meeting on December 10, 2009, the Board of Directors of Aqua America, Inc., upon the recommendation of its Executive Compensation Committee, approved the following directors’ compensation for 2010 for the non-employee directors of Aqua America, Inc.: (1) an annual cash retainer of $28,000; (2) an annual cash retainer for the Chair of the Executive Compensation Committee and Corporate Governance Committee of $7,500; (3) an annual cash retainer for the Chair of the Audit Committee of $10,000; (4) 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 2,000 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.
