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, additional retainers for lead and committee chair roles, and annual grants of deferred stock units. Directors can choose to receive their compensation in cash, company stock, or additional deferred stock units. Deferred stock units are converted to shares when a director leaves the board, including any accrued dividends.
Exhibit 10.1
Heritage Property Investment Trust, Inc.
Schedule of Non-Employee Director Compensation(1)
| Annual Retainer |
| $30,000 |
|
|
|
|
| Board/Committee Meeting Fees |
| $1,500 (per meeting attended) |
|
|
|
|
| Lead Director Retainer |
| $25,000 |
|
|
|
|
| Committee Chair Retainer |
| Audit Committee: $10,000 |
|
|
|
|
| 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.
