EX-101 INSTANCE DOCUMENT

EX-10.37 3 c10722exv10w37.htm EXHIBIT 10.37 Exhibit 10.37
Exhibit 10.37
Corrections Corporation of America (the “Company”)
Summary of Director and Executive Officer Compensation
I. Director Compensation. Directors who are employees of the Company do not receive additional compensation for serving as directors of the Company. The following table sets forth current rates of cash compensation for the Company’s non-employee directors.
Retainers and Fees
         
Board retainer
  $ 50,000  
Board meeting fee
  $ 3,000  
Audit chair retainer
  $ 10,000  
Audit member retainer
  $ 2,000  
Compensation, Nominating and Governance chair retainer
  $ 5,000  
Committee chair meeting fee (excluding Executive)
  $ 2,500  
Non-chair committee meeting fee
  $ 2,000  
In addition to the cash compensation set forth above, each non-employee director has historically received a grant of a non-qualified option for the purchase of shares of the Company’s common stock following the Company’s annual meeting of stockholders.
II. Executive Officer Compensation. The following table sets forth the current base salaries and the fiscal 2010 performance bonuses provided to the individuals who are anticipated to constitute the named executive officers of the Company for 2011.
                 
            Fiscal 2010  
Executive Officer   Current Salary     Bonus Amount  
 
John D. Ferguson
  $ 540,000     $ 869,164  
Damon T. Hininger
  $ 600,000     $ 960,000  
Todd J Mullenger
  $ 290,000     $ 464,000  
Richard P. Seiter
  $ 310,655     $ 497,048  
Anthony L. Grande
  $ 270,000     $ 432,000  
Brian D. Collins
  $ 248,310     $ 397,296  
The named executive officers also participate in the Company’s 2011 Cash Bonus Plan and will continue to receive long-term incentive awards pursuant to the Company’s stockholder approved equity incentive plans.
III. Additional Information. The foregoing information is summary in nature. Additional information regarding director and named executive officer compensation will be provided in the Company’s proxy statement to be filed in connection with the 2011 annual meeting of stockholders.