Redhook Director and Executive Officer Compensation Summary Sheet (2006)
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Summary
This document outlines the compensation structure for non-employee directors and executive officers of Redhook, effective January 1, 2006. Non-employee directors receive annual grants of 3,500 shares of company stock and $10,000 in cash, with additional payments for committee chairs and audit committee members. Executive officers are listed with their base salaries, annual incentive targets (split between discretionary and performance-based), and monthly car allowances. The agreement specifies compensation amounts and eligibility, providing a clear overview of pay and benefits for key company leaders.
EX-10.22 2 v17800exv10w22.txt EXHIBIT 10.22 EXHIBIT 10.22 SUMMARY SHEET OF DIRECTOR COMPENSATION AND EXECUTIVE CASH COMPENSATION DIRECTOR COMPENSATION Non-employee directors of Redhook are currently entitled to receive both stock-based and cash compensation for their service on the Redhook board. Effective January 1, 2006, each non-employee director (other than Anheuser-Busch, Incorporated Designated directors) will receive an annual grant of 3,500 shares of common stock of the Company. The stock grant will be awarded upon a director's election to the Board following the Company's Annual Meeting of Shareholders. The non-employee directors will no longer participate in the 2002 Stock Option Plan. Each non-employee director will also receive annual compensation of $10,000, which will be paid quarterly. The Chair of each of the Nominating and Governance, Audit, Marketing and Compensation Committees will receive additional annual compensation of $4,000, which will be paid following the Annual Meeting of Shareholders. Each Audit Committee member, other than the Chair, will receive an additional annual payment of $1,000. EXECUTIVE OFFICER COMPENSATION The current base salaries for the Company's executive officers are:
Executive officers are eligible to receive an annual incentive payment, of which 50% will be discretionary and 50% will be paid upon achieving certain targets per terms set forth by, and as approved by, the Compensation Committee or the board. The 2006 target incentives for the Company's executive officers are:
The Company also pays a monthly car allowance in accordance with each officer's letter of agreement regarding employment. The current car allowances for the Company's executive are:
