Chiquita Brands International, Inc. Summary of Director Compensation: As in Effect Since May 25, 2004
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Human Resources
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EX-10.16 2 dex1016.htm SUMMARY OF DIRECTOR COMPENSATION FOR NON-EMPLOYEE DIRECTORS Summary of director compensation for non-employee directors
Exhibit 10.16
Chiquita Brands International, Inc.
Summary of Director Compensation:
As in Effect Since May 25, 2004
Directors who are not current employees of the Company or its subsidiaries are paid:
| • | 10,000 shares of restricted stock upon joining the Board |
| • | 2,500 shares of restricted stock each year thereafter |
| • | an annual retainer of $50,000, payable half in cash and half in common stock |
In addition the Chair of the Audit Committee receives an annual fee of $20,000 in cash and the Chairs of the Compensation & Organization Development Committee and the Nominating & Governance Committee each receive an annual fee of $10,000 in cash.
Non-employee directors are also reimbursed for travel and other necessary business expenses incurred in the performance of their services for the Company.
