Arbitron Inc. Schedule of Non-Employee Director Compensation
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document outlines the compensation plan for non-employee directors of Arbitron Inc. Directors receive an annual retainer, meeting fees, and additional compensation for serving as committee chairs. They are also granted stock options, both upon joining the board and annually thereafter, with specific vesting and exercise terms. The Chairman receives a larger annual stock option grant. Directors can choose to defer their cash compensation into deferred stock units or receive it as stock options instead of cash.
EX-10.18 4 w06139exv10w18.htm EX-10.18 exv10w18
Exhibit 10.18
ARBITRON INC.
Schedule of Non-Employee Director Compensation 1/
Annual Retainer Fee | $30,000 | ||||
Board Meeting Fees (In person or | $1,500 | ||||
by telephone) | |||||
Committee Chair Retainer | Audit Committee: $10,000 | ||||
Other Committees: $7,500 | |||||
Committee In Person Meeting Fees | $1,500 | ||||
Committee Telephonic Meeting Fees | $750 | ||||
Initial Option Awards | Each newly elected director will receive a one-time grant of | ||||
options to purchase 15,000 shares of common stock, which options | |||||
will vest and become exercisable in three equal installments of | |||||
5,000 shares over a three-year period and will expire 10 years | |||||
from the date of grant. | |||||
Annual Option Awards | Beginning the year after initial election, each non-employee | ||||
director will receive an annual grant of options to purchase | |||||
7,000 shares of common stock, which options will be fully vested | |||||
upon grant. These options will become exercisable in full six | |||||
months after the date of grant and will expire 10 years from the | |||||
date of grant. | |||||
Annual Option Awards to Chairman | The Chairman of the Board of Directors will also receive an | ||||
annual grant of options to purchase 10,000 shares of common | |||||
stock, which options will be fully vested upon grant. These | |||||
options will become exercisable in full six months after the | |||||
date of grant and will expire 10 years from the date of grant. | |||||
1/All cash retainer fees and meeting fees payable to directors may be partially or fully deferred at the election of each director into deferred stock units (DSUs) or may be paid at the election of each director in the form of stock options in lieu of cash. |