Heritage Property Investment Trust, Inc. Schedule of Non-Employee Director Compensation
This document outlines the compensation plan for non-employee directors of Heritage Property Investment Trust, Inc. Directors receive an annual retainer, meeting fees, and additional retainers for serving as lead director or committee chairs. Each director is also granted 1,000 deferred stock units annually, which convert to common stock when the director leaves the board. Directors can choose to receive their compensation in cash, stock, or additional deferred stock units.
Exhibit 10.1
Heritage Property Investment Trust, Inc.
Schedule of Non-Employee Director Compensation(1)
| Annual Retainer |
| $30,000 |
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| Board Meeting Fees |
| $250 (per meeting attended) |
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| Lead Director Retainer |
| $25,000 |
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| Committee Chair Retainer |
| Audit Committee: $5,000 |
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| Committee Meeting Fees |
| $1,500 (per meeting attended) |
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| Annual Deferred Stock Unit Awards |
| Each director receives an annual grant of 1,000 deferred stock units (“DSUs”). The DSUs are not issued until the director ceases to be on the Board, at which time an equivalent number of shares of our common stock will be issued to the director, plus all accrued dividends. |
(1) Directors may elect to receive their compensation in the form of cash, shares of our common stock or additional DSUs.
