Campbell Soup Company Non-Employee Director Compensation Terms for 2021

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-employee directors of Campbell Soup Company for the 2021 calendar year. Directors receive a combination of cash and company stock as payment, with additional retainers for board and committee chairs and audit committee members. Payments are made quarterly, and directors can choose to receive more stock instead of cash or defer their compensation according to the company's retirement plan. The agreement specifies the exact amounts and payment methods for each role.

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EX-10.2 2 cpb-ex102x1112010xq.htm EX-10.2 Document

Exhibit 10.2

CAMPBELL SOUP COMPANY

Non-Employee Director Compensation for Calendar 2021

Board and Committee Retainer for Calendar 2021

$119,000 shall be paid in cash
$144,500 shall be paid in shares of Campbell stock

Additional Retainers for Board Chair, Committee Chairs and Audit Committee Members

In addition to the above Board and Committee retainer, the following amounts shall be paid 50% in cash and 50% in shares of Campbell stock:

$350,000
Chair of the Board
$25,000
Audit Committee chair
$20,000
Compensation and Organization Committee chair
$15,000
Finance Committee chair
$15,000
Governance Committee chair
$7,500
Audit Committee members (excluding the Audit Committee chair)





The retainers will be paid quarterly in arrears. Prior to the beginning of a calendar year, a non-employee director may elect to (i) receive shares of Campbell stock in lieu of the cash portion of any retainer (such election to be made in 10% increments) and/or (ii) defer all or a portion of any cash or stock retainer in accordance with the terms and conditions of the Campbell Soup Company Supplemental Retirement Plan.