Campbell Soup Company Non-Employee Director Compensation Policy for 2020

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2020 compensation plan for non-employee directors of Campbell Soup Company. Directors receive a base retainer paid partly in cash and partly in company stock, with additional payments for serving as Board Chair or committee chairs. Payments are made quarterly, and directors can choose to receive more compensation in stock or defer payments under the company's retirement plan. The policy specifies exact amounts for each role and the method of payment.

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EX-10.1 2 cpb-exb101x1262020x10xq.htm EX-10.1 Document

EXHIBIT 10.1

CAMPBELL SOUP COMPANY

Non-Employee Director Compensation for Calendar 2020

Board and Committee Retainer for Calendar 2020

$119,000 shall be paid in cash
$137,000 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:

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