Sunoco Partners LLC Independent Director Compensation Summary Sheet for 2007
Exhibit 10.16
Sunoco Partners LLC
Independent Director Compensation Summary Sheet
for 2007
Directors who are employees of Sunoco, Inc., Sunoco Partners LLC, or their respective affiliates receive no additional compensation for service on the general partner’s board of directors or any committees of the board. The table below summarizes the 2007 compensation program for independent directors of Sunoco Partners LLC.
2007 INDEPENDENT DIRECTOR COMPENSATION SUMMARY
| Component | Amount ($) | Medium of Payment | Timing of Payment | |||
| Annual Retainer | 21,000 per year | Restricted Units | $5,250 credited quarterly1 | |||
| 21,000 per year | Cash | $5,250 paid quarterly | ||||
| Board Meeting Fee | 1,500 per meeting | Cash | Paid quarterly | |||
| Committee Meeting Fee | 1,000 per meeting | Cash | Paid quarterly | |||
| Compensation Committee Chair Retainer | 3,500 per year | Cash | $ 875 paid quarterly | |||
| Audit/Conflicts Committee Chair Retainer | 8,000 per year | Cash | $2,000 paid quarterly | |||
NOTE TO TABLE:
| 1. | The fair market value of each quarterly payment of restricted units is calculated as of the payment date. The portion of the annual retainer paid in the form of restricted units is required to be deferred, and is credited to each independent director’s account in the Sunoco Partners LLC Directors’ Deferred Compensation Plan. |
In addition to the foregoing, each independent director is reimbursed for out-of-pocket expenses in connection with attending meetings of the board of directors or committees.
