Directors Compensation Summary for Outside Directors

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for outside directors serving on the company's board. Outside directors receive an annual retainer of $50,000, additional stipends for serving as committee chairs, and attendance fees for board and committee meetings. Payment is made quarterly. Directors who are company employees or representatives of Forest Products Holdings, L.L.C. or OfficeMax Incorporated are not eligible for this compensation. The policy also covers reimbursement of expenses related to meeting attendance.

Read More Arrow
EX-10.1 2 a05-13940_1ex10d1.htm EX-10.1

EXHIBIT 10.1

 

DIRECTORS COMPENSATION SUMMARY

 

Outside directors receive compensation for board service.  Payment dates are the last working day of March, June, September, and December.  That compensation includes:

 

Annual Retainer:

$50,000

 

 

Committee Chair Stipend:

$15,000 annually for Audit Committee chair

 

 

 

$10,000 annually for all other committee chairs

 

 

Attendance Fees:

$1,500 for each board meeting (attended in person, conducted by telephone, or written consent in lieu of meeting)

 

 

 

$1,500 for each committee meeting (attended in person, conducted by telephone, or written consent in lieu of meeting)

 

 

 

Expenses related to attendance

 

Directors who are either employees of the company or representatives of the company’s two investors, Forest Products Holdings, L.L.C. and OfficeMax Incorporated, do not receive compensation for their board service.