Redhook Ale Brewery Director and Executive Officer Compensation Summary Sheet
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Summary
This document outlines the compensation for non-employee directors and executive officers of Redhook Ale Brewery. Non-employee directors receive both stock options under the 2002 Stock Option Plan and quarterly cash payments of $2,500, with committee chairpersons receiving an additional $2,500 annually. Executive officers are listed with their base salaries, eligibility for annual incentive payments based on performance, and monthly car allowances as specified in their employment agreements.
EX-10.18 6 v06101exv10w18.txt EXHIBIT 10.18 EXHIBIT 10.18 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. Non-employee directors participate in the Redhook Ale Brewery, Incorporated 2002 Stock Option Plan (the "2002 Plan"). The 2002 Plan is filed as an Addendum to the Company's Proxy Statement for its 2002 Annual Meeting of Shareholders. The Form of Stock Option Agreement for the 2002 Plan is filed as exhibit 10.10 to the Company's 10-K for the year ended December 31, 2004. Non-employee directors also receive cash compensation equal to $2,500 for each quarter in which they serve as a director. Chairpersons of the Audit, Compensation, and Nominating and Governance Committees are entitled to receive an additional $2,500 per year, payable following the Annual Meeting of Shareholders. EXECUTIVE OFFICER COMPENSATION The following are the current base salaries for the Company's executive officers.
Executive officers are eligible to receive an annual incentive payment in accordance with each officer's employment agreement. Incentives based upon 2004 performance paid to the Company's executive officers are as shown in the following table:
The Company also pays a monthly car allowance in accordance with each officer's employment agreement. The Company made car allowance payments in 2004 to executive officers totaling:
