Summary of Director and Executive Officer Compensation Arrangements for EnPro Industries, Inc.
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
EnPro Industries, Inc. outlines its compensation arrangements for directors and named executive officers. Non-employee directors receive an annual retainer of $175,000, split between cash and phantom shares, with additional fees for certain committee chairs. The non-executive chairman and committee chairs receive extra compensation for their roles. Named executive officers, including the CEO and other top executives, are at-will employees with board-determined annual base salaries, which are subject to change at the board's discretion. The document lists the 2019 base salaries for the company's top executives.
EX-10.30 3 npo-10kx12312018ex1030.htm EXHIBIT 10.30 Exhibit
Exhibit 10.30
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 2018, each non-employee member of the Company’s board of directors receives an annual retainer of $175,000, $80,000 of which is paid in cash and $95,000 of which is paid in phantom shares of our common stock upon the director’s termination of service as a director. The non-executive chairman of the board receives an additional quarterly fee of $15,000 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 2019 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 for 2019, the annual base salaries for these named executive officers are as follows:
Named Executive Officer | Base Salary |
Stephen E. Macadam | $887,452 |
Marvin A. Riley | $475,000 |
J. Milton Childress II | $452,000 |
Robert S. McLean | $400,000 |
William C. O'Neal | $297,000 |