CapLease, Inc. 2009 Independent Director Compensation Summary
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Summary
This document outlines the 2009 compensation plan for independent directors of CapLease, Inc. Directors receive an annual cash retainer, additional fees for serving as committee chairs or lead independent director, stock awards, and attendance fees for board and committee meetings. The audit committee chair receives higher compensation. Stock awards are based on the company's average stock price and vest over three years. Committee attendance fees are not paid for meetings held on the same day as a board meeting.
EX-10.27 4 v141932_ex10-27.htm
(1) Except for our audit committee chair, who receives $10,000.
Exhibit 10.27
CapLease, Inc.
Summary of Compensation to
Independent Directors
| 2009 | ||||
| Annual cash retainer | $ | 35,000 | ||
| Committee chair additional retainer | $ | 6,000 | (1) | |
| Lead independent director retainer | $ | 10,000 | ||
| Stock award | $ | 27,400 | (2) | |
| Board attendance fee (in person or telephonic) | $ | 1,000 | per meeting | |
| Committee attendance fee | $ | 500 | per meeting(3) | |
(1) Except for our audit committee chair, who receives $10,000.
(2) Except for our audit committee chair, who receives $33,700. The number of shares granted will be determined by dividing the stock award value by the average closing price for the Company’s common stock for the 10 trading days immediately prior to the date the committee makes annual stock awards. Awards will be effective on the anniversary of the Company’s initial public offering and will vest in three equal annual installments beginning on the first anniversary of such date.
(3) Committee attendance fees are not paid for meetings held on the same day as a Board meeting.
