2024 Director Compensation Agreement for Non-Employee Directors of the Corporation
This agreement outlines the compensation for non-employee directors of the Corporation for 2024. Each director will receive an annual retainer of $80,000, with $62,500 paid in cash and $17,500 in restricted stock units that vest after one year. Additional annual retainers are provided for directors with extra responsibilities: $37,500 for the independent Chair of the Board, $10,000 for the Audit Committee Chair, and $7,500 for other committee chairs.
Exhibit 10.18
Director Compensation
Each non-employee director of the Corporation shall receive for calendar year 2024 an annual retainer fee of $80,000, payable $62,500 in cash and $17,500 in restricted stock units to be awarded on the day of the annual meeting of shareholders subject to vesting on the one-year anniversary of the grant date. Non-employee directors with significant additional duties shall receive the following additional annual retainers: (i) $37,500 for the independent Chair of the Board of Directors; (ii) $10,000 for the Chair of the Audit Committee, and (iii) $7,500 for each other Chair of a Board committee.
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