Non-Employee Director Compensation Policy for Board and Committee Service

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for non-employee directors of the company. Directors receive an annual retainer, part in deferred stock units and part in cash or deferred stock units, with higher amounts for the chairman. Additional cash fees are paid for attending board and committee meetings beyond a set number, and chairpersons of key committees receive extra annual cash fees. Directors can choose how to receive certain payments, and the policy specifies the amounts and conditions for each type of compensation.

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EX-10.21 2 exhibit10_21.htm EXHIBIT 10.21 exhibit10_21.htm

 
 
 

Exhibit 10.21
 
Non-employee Director Compensation
 

 
 
Annual Retainer:
 
· $125,000 ($220,000 for the chairman of the board), paid in the form of deferred stock units; and
 
· $80,000 ($140,000 for the chairman of the board), paid in cash, deferred or paid in the form of deferred stock units, at the option of the director
 
 
Attendance fees — Board meetings:
 
$2,000 in cash, per meeting, beginning with the 8th meeting of the fiscal year
 
Attendance fees — Committee meetings:
 
$1,500 in cash, per meeting, beginning with the 8th meeting of the fiscal year
 
Chairperson fees:
 
· $15,000 in cash, for audit committee
 
· $10,000 in cash, for compensation committee and nominating/corporate governance committee