Summary of Executive and Director Compensation Arrangements

Contract Categories: Human Resources - Compensation Agreements
EX-10.31 7 npo-10kx12312020ex1031.htm EX-10.31 Document

Exhibit 10.31

Summary of Director and Executive Officer Compensation Arrangements

    In addition to the compensation arrangements filed as other exhibits to this annual report, EnPro Industries, Inc. (the “Company”) has the following compensation arrangements with its directors and current executive officers who are named executive officers.

Compensation Arrangements for Directors

The Company has an arrangement to pay non-employee members of the Company’s board of directors compensation for their service on the board. Effective for 2021, each non-employee member of the Company’s board of directors receives an annual retainer of $200,000, $90,000 of which is paid in cash and $110,000 of which is paid in fully vested shares of our common stock. Directors who elect to defer receipt of the annual grant are paid in phantom shares of our common stock upon the director’s termination of service as a director in accordance with his or her election. The non-executive chairman of the board receives an additional quarterly fee of $22,500 for his service in that capacity and for his service as chairman of the Nominating and Corporate Governance Committee, the chairman of the Audit and Risk Management Committee receives an additional annual fee of $20,000, and the chairman of the Compensation and Human Resources Committee receives an annual fee of $15,000.

Compensation Arrangements for Named Executive Officers

The Company’s chief executive officer and its other most highly compensated current executive officers who are named executive officers in the Company's proxy statement for its 2021 annual meeting of shareholders are all “at-will” employees who serve at the pleasure of the board of directors. The board of directors sets the annual base salary for each of the named executive officers and has the discretion to change the salary of any of the officers at any time. Effective as of April 1, 2021, the annual base salaries for these named executive officers are as follows:
Named Executive Officer
Base Salary
Marvin A. Riley$900,000
J. Milton Childress II$538,201
Robert S. McLean$438,781
Susan E. Sweeney$370,600
Jerry L. Johnson$376,980