Barrett Business Services, Inc. Non-Employee Director Compensation Summary (as of July 1, 2020)
Barrett Business Services, Inc. outlines compensation for its non-employee directors, effective July 1, 2020. Directors receive an annual cash retainer of $60,000, with the Chairman receiving $100,000, both paid monthly. Additional annual cash retainers are provided to committee chairs and members, varying by committee. Each non-employee director also received restricted stock units valued at approximately $75,000, which will fully vest on July 1, 2021. These arrangements are part of the company's 2020 Stock Incentive Plan.
EXHIBIT 10.4
BARRETT BUSINESS SERVICES, INC.
SUMMARY OF COMPENSATION ARRANGEMENTS
FOR NON-EMPLOYEE DIRECTORS
As of July 1, 2020, compensation arrangements for non-employee directors of Barrett Business Services, Inc. (the "Company"), continue to include an annual retainer of $60,000 ($100,000 for the Chairman of the Board) payable in cash in monthly installments. Committee chairs receive an annual cash retainer, payable in monthly installments, as follows: chair of Audit and Compliance Committee, $15,000; chair of Compensation Committee, $10,000; chair of Risk Management Committee, $10,000; and chair of Corporate Governance and Nominating Committee, $10,000. Committee members receive an annual cash retainer, payable in monthly installments, as follows: Audit and Compliance Committee, $7,500; Compensation Committee, $5,000; Risk Management Committee, $5,000; and Corporate Governance and Nominating Committee, $5,000.
In addition, each non-employee director as of July 1, 2020, received an award of restricted stock units ("RSUs") under the Company's 2020 Stock Incentive Plan. The RSU awards had a grant date fair value of approximately $75,000 (based on the closing sale price of BBSI common stock on July 1, 2020, of $51.45). The 2020 RSU awards will vest in full on July 1, 2021.
