Summary of Directors' Fees for Duke Energy Corporation as of May 1, 2004
This document outlines the compensation structure for members of the Duke Energy Corporation Board of Directors, effective May 1, 2004. Directors receive annual retainers in both cash and stock, as well as additional fees for attending board and committee meetings. Extra compensation is provided for the Lead Director and committee chairs, with specific amounts for different types of meetings, including in-person and telephonic sessions. The summary details the amounts and conditions under which these fees are paid.
Exhibit 10-27
SUMMARY OF DIRECTORS’ FEES
AS OF MAY 1, 2004
The Duke Energy Corporation Board of Directors approved the following retainer and attendance fees for directors, effective May 1, 2004:
| Board Retainer (cash)
Board Retainer (stock) | • $45,000
• $50,000 value (equity vehicle may vary) | |
| Board Meeting Fees | • $1,500, including telephonic meetings | |
| Lead Director Retainer | • $20,000 | |
| Audit Committee Chair Retainer | • $20,000 | |
| Other Committee Chair Retainers | • $7,500 | |
| Audit Committee Meeting Fee | • $3,000 for in-person meetings held in conjunction with Board meetings, including bifurcated meetings (e.g., meeting on day 1, with second meeting on day 2, both around Board meeting);
• $2,000 for telephonic meetings not in conjunction with Board meetings or for telephonic participation in meetings held in conjunction with Board meetings | |
| Other Committee Meeting Fees | • $1,500 for in-person meetings held in conjunction with Board meetings, including bifurcated meetings (e.g., meeting on day 1, with second meeting on day 2, both around Board meeting), telephonic meetings and telephonic participation in meetings held in conjunction with Board meetings;
• $2,500 for special, in-person meetings not in conjunction with Board meetings | |
