United Stationers Inc. Board of Directors Compensation Summary (Effective September 1, 2005)
This document outlines the compensation structure for the Board of Directors of United Stationers Inc., effective September 1, 2005. Directors receive an annual retainer, meeting fees for attending board and committee meetings (with different rates for in-person and telephonic participation), and annual equity compensation. The Chairman of the Board and committee chairmen receive higher compensation. Directors are also reimbursed for reasonable travel-related expenses. The agreement specifies the amounts and conditions for each type of compensation.
Exhibit 10.1
United Stationers Inc. Summary of Board of Directors Compensation
Following is a summary of the forms and levels of compensation to be provided to Directors effective Sept 1, 2005.
| Director Compensation Component |
| Amount |
|
|
|
|
| Annual Retainer |
| $60,000 annual rate |
|
|
|
|
| Board Meeting Fees |
|
|
| Ÿ In person |
| $4,000 per meeting |
| Ÿ Telephonic |
| $1,000 per meeting |
|
|
|
|
| Committee Meeting Fees |
|
|
| Ÿ Held in connection with a Board meeting |
|
|
| • All Telephonic meetings |
|
|
|
|
|
|
| - Audit Committee Chairman |
| $2,500 per meeting |
| - Other Committee Chairmen |
| $1,000 per meeting |
| - Other non-employee directors |
| $500 per meeting |
|
|
|
|
| Ÿ In-person meeting not held in connection with a Board meeting |
|
|
|
|
|
|
| - Audit Committee Chairman |
| $2,500 per meeting |
| - Other Committee Chairmen |
| $1,500 per meeting |
| - Other non-employee directors |
| $1,000 per meeting |
|
|
|
|
| Equity Compensation |
|
|
| Ÿ Chairman of the Board |
| Approximately $85,000 |
| Ÿ Other non-employee directors |
| Approximately $75,000 |
|
|
|
|
| Reimbursement |
| Reasonable travel-related expenses |
