CommonWealth REIT Trustee Compensation Summary
This document outlines the compensation structure for the Trustees of CommonWealth REIT. Independent Trustees receive an annual fee of $35,000 and $750 for each meeting attended, with limits if meetings overlap. Committee chairpersons receive additional annual fees ranging from $5,000 to $10,000. Each Trustee is granted 2,000 common shares after the annual shareholder meeting or upon joining. Trustees are also reimbursed for travel and certain educational expenses. The compensation terms can be changed by the Board of Trustees at any time.
Exhibit 10.2
COMMONWEALTH REIT
Summary of Trustee Compensation
The following is a summary of the currently effective compensation of the Trustees of CommonWealth REIT (the “Company”) for services as trustees, which is subject to modification at any time by the Board of Trustees.
· Each Independent Trustee receives an annual fee of $35,000, plus a fee of $750 for each meeting attended. Up to two $750 fees are payable if a board meeting and one or more board committee meetings are held on the same date.
· The chairpersons of the audit committee, the compensation committee and the nominating and governance committee, each of whom is an Independent Trustee, receive an additional annual fee of $10,000, $5,000 and $5,000, respectively.
· Each Trustee receives a grant of 2,000 of the Company’s common shares of beneficial interest on the date of the first board meeting following each annual meeting of shareholders (or, for Trustees who are first elected or appointed at other times, on the day of the first board meeting attended).
· The Company generally reimburses all Trustees for travel expenses incurred in connection with their duties as Trustees and for out of pocket costs incurred from their attending certain continuing education programs.
