Delek US Holdings, Inc. Non-Employee Director Compensation Description
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Summary
Delek US Holdings, Inc. outlines compensation for its non-employee directors who are not affiliated with Delek Group Ltd. These directors receive an annual fee, additional payments for attending board and committee meetings (with reduced fees for remote participation), and extra compensation for serving as chairpersons. Starting in 2007, they are also granted stock options and restricted stock units, which vest over four years. The agreement specifies the amounts and vesting schedule for these benefits.
EX-10.8 10 y35027exv10w8.htm EX-10.8: DESCRIPTION OF DIRECTOR COMPENSATION EX-10.8
Exhibit 10.8
Delek US Holdings, Inc.
Description of Director Compensation
Each non-employee director of Delek US Holdings, Inc. (the “Company”) who is not affiliated with Delek Group Ltd. will receive an annual fee of $25,000 and a fee of $1,500 per board meeting attended in person. Members of the Board committees who are non-employee directors not affiliated with Delek Group Ltd. will receive $1,000 per committee meeting attended in person. With respect to both board meetings and committee meetings, each non-employee director who is not affiliated with Delek Group Ltd. will receive 50% of such meeting fees when they participate in a board or committee meeting by telephone or other remote means rather than in person. Non-employee directors who are not affiliated with Delek Group Ltd. and who serve as the chairperson of the board or a board committee shall receive an additional annual fee of $7,500 per year.
Beginning in 2007, each non-employee director who is not affiliated with Delek Group Ltd. will receive an annual grant of 3,000 stock options. In 2007, each such director will also receive a grant of 1,500 restricted stock units. All stock options and restricted stock units will vest ratably on each of the first, second, third and fourth anniversaries of the grant date.
