COOPER TIRE & RUBBER COMPANY Written Description of Changes toIndependent Director Compensation and Stock Ownership Guidelines (as approved by the Board of Directors on August 3, 2011)
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EX-10.III 2 d244245dex10iii.htm EX-10.III EX-10.III
Exhibit (10)(iii)
COOPER TIRE & RUBBER COMPANY
Written Description of Changes to Independent Director Compensation and Stock Ownership Guidelines
(as approved by the Board of Directors on August 3, 2011)
Cash Compensation (effective October 1, 2011):
Annual Retainer: $80,000
Annual Fees for Committee Chairs and Lead Director:
Audit Committee Chair: $15,000
Compensation Committee Chair: $10,000
Nominating and Governance Committee Chair: $10,000
Lead Director: $15,000
Equity Compensation (effective at 2012 Annual Meeting):
Annual Phantom Stock Grant: $100,000
Stock Ownership Guidelines (effective immediately):
Amount: 15,000 shares
Time for new Director to reach: 5 years
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