ExpressJet Holdings, Inc. Non-Employee Director Compensation Policy

Contract Categories: Human Resources › Compensation Agreements
Summary

ExpressJet Holdings, Inc. outlines compensation for its non-employee directors, including annual retainers ranging from $30,000 to $60,000 based on roles, meeting fees for board and committee participation, reimbursement of out-of-pocket expenses, and stock grants of restricted shares and options upon joining and after each annual meeting. Non-employee directors also receive certain flight benefits as described in a separate agreement. This policy ensures directors are compensated for their service and participation in company governance.

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EX-10.1 3 xjt10q033105e101.htm EXPRESSJET HOLDINGS, INC. EXHIBIT 10.1 ExpressJet Holdings, Inc.
Exhibit 10.1
ExpressJet Holdings, Inc.
Non-Employee Director Compensation

            The Company provides the following compensation, as applicable, to directors who are not employees of the Company:

Annual Retainers

            The highest applicable annual retainer amount of the amounts set forth below:

Director

            

$30,000 per year

Committee Chair

$40,000 per year

Audit Committee Financial Expert

$50,000 per year

Chairman of the Board

$60,000 per year

Meeting Fees

Each board meeting physically attended (non-Chair)     

   

$2,000

Each board meeting physically attended (Chair)

$3,000

Each board meeting, telephonic participation

$1,000

Each committee meeting (other than Audit) physically attended (non-Chair)

$2,000

Each committee meeting (other than Audit) physically attended (Chair)

$3,000

Each Audit Committee meeting physically attended (non-Chair

$5,000

Each Audit Committee meeting physically attended (Chair)

$7,500

Each committee meeting (all), telephonic participation

$  500

Reimbursement of appropriate out-of-pocket expenses

Stock Grants

  • 2,000 restricted shares and 2,000 stock options upon initial election to Board
  • 2,000 restricted shares and 2,000 stock options following each annual meeting

Flight Benefits

            Benefits described in the Form of Amended and Restated Letter Agreement relating to certain flight benefits between the Company and each of our non-employee directors (previously filed).