CompuCredit Holdings Corporation Outside Director Compensation Package Effective January 1, 2012

Contract Categories: Human Resources › Compensation Agreements
Summary

CompuCredit Holdings Corporation will compensate its independent outside directors with an annual cash retainer of $50,000, plus fees for attending board and committee meetings. Committee chairpersons receive additional annual fees. Directors also receive an annual restricted stock award that vests over two years. The company reimburses reasonable travel expenses related to board duties. This package applies to directors who meet NASDAQ and SEC independence requirements.

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EX-10.9 2 ex109.htm OUTSIDE DIRECTOR COMPENSATION PACKAGE ex109.htm
 
Exhibit 10.9
 
OUTSIDE DIRECTOR COMPENSATION PACKAGE
 
Effective January 1, 2012, CompuCredit Holdings Corporation (the “Company”) will pay each outside director who is independent in accordance with the NASDAQ and SEC rules governing director independence (an “Eligible Director”) the following for service to the Company:
 
Annual Cash Retainer
   $ 50,000  
Attendance Fee for Each Board Meeting (including telephonic attendance)
   $ 2,500  
Attendance Fee for Each Committee Meeting (including telephonic attendance)
   $ 1,000  

In addition, the Chairman of the Audit Committee will receive an additional annual fee of $25,000.  The Chairman of each of the Nominating and Corporate Governance Committee and the Compensation Committee will receive an additional annual fee of $10,000.   The Annual Cash Retainer and the Committee Chair fees will be paid in quarterly installments.
 
Each Eligible Director also will receive an annual restricted stock award of 20,000 shares.  The restricted stock award will vest in two equal annual installments beginning on the first anniversary of the grant date.
 
The Company also will reimburse all reasonable out-of-pocket travel expenses that are incurred in connection with board and committee meetings.