2013 Director Compensation Summary Term Sheet for Crawford & Company Board
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Summary
This agreement outlines the compensation for non-employee directors of Crawford & Company for 2013. Each director receives $60,000 in cash and restricted stock, with cash paid quarterly and stock vesting at year-end if the director remains on the Board. Directors also earn $1,000 per meeting attended. Committee chairpersons receive additional quarterly retainers, and the Chairman of the Board receives a $90,000 retainer in restricted stock. The agreement specifies payment schedules and conditions for vesting.
EX-10.37 3 exhibit1037-201310xk.htm EXHIBIT 10.37 Exhibit 10.37 - 2013 10-K
Exhibit 10.37
Director Compensation Summary Term Sheet
During calendar year 2013, each non-employee member of the Board is entitled to receive an aggregate of $60,000 in cash and restricted stock. The cash portion of the compensation will be paid quarterly in $7,500 increments. The remainder of such compensation will be paid in restricted shares of the Company’s Class A common stock, and will be vested on December 31, 2013 to individuals who are on the Board on December 31, 2013.
In addition to the foregoing, each non-employee director is entitled to receive $1,000 for each Board or committee meeting attended. Further, the Chairman of the Executive Committee, the Nominating and Corporate Governance Committee and the Compensation Committee will be paid an additional retainer of $2,500 per quarter. The Chairman of the Audit Committee will be paid a retainer of $3,000 per quarter. The Chairman of the Board is entitled to receive a retainer of $90,000, payable quarterly in restricted shares of the Company’s Class A Common Stock pursuant to the terms of the Crawford & Company Non-Employee Director Stock Plan.
