Summary of Non-Employee Director Compensation for Fiscal 2011
This document outlines the compensation for non-employee directors of the company for fiscal year 2011. Each non-employee director receives a $60,000 annual retainer, with additional retainers for committee chair roles and the non-executive Chairman. Directors are also eligible for equity awards under the company's 1996 Director Stock Option Plan, which may include restricted stock, performance shares, and deferred stock units.
Exhibit 10.7
Summary of Director Compensation
Cash Compensation of Non-Employee Directors in Fiscal 2011
In fiscal 2011, each of our non-employee directors will receive an annual retainer of $60,000. In addition, the non-executive Chairman of the Board will be paid an additional annual retainer of $45,000. The Chairman of the Audit Committee will be paid an additional annual retainer of $15,000. The Chairman of the Compensation Committee will be paid an additional annual retainer of $10,000. The Chairman of the Nominating Committee and the Chairman of the Real Estate Committee will each be paid additional annual retainers of $5,000.
Equity Compensation of Non-Employee Directors in Fiscal 2011
Under our 1996 Director Stock Option Plan, as amended, our non-employee directors may receive all types of awards under the plan, including full value awards, such as restricted stock, performance shares, performance units and deferred stock units.
