CapLease, Inc. Amended and Restated Independent Director Compensation Summary (April 15, 2009)
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Summary
This document outlines the compensation structure for independent directors of CapLease, Inc. as of April 15, 2009. Independent 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 vest over three years, and attendance fees are not paid for committee meetings held on the same day as board meetings.
EX-10.1 2 v148489_ex10-1.htm Unassociated Document
Exhibit 10.1
CapLease, Inc.
Summary of Compensation to
Independent Directors
Amended and Restated
as of April 15, 2009
| 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) | $ | 2,000 | per meeting | |
| Committee attendance fee (in person or telephonic) | $ | 1,000 | 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.
