Director Compensation Agreement for Non-Employee Directors of Farmers National Banc Corp. (2021–2022)
This agreement outlines the annual compensation for non-employee directors of Farmers National Banc Corp. for 2021 and 2022. It specifies the base retainer fees and additional payments for directors with extra responsibilities, such as serving as Chair or Vice Chair of the Board or as committee chairs. The agreement details the amounts paid for each role and the time periods covered, ensuring directors are compensated according to their duties and positions within the company.
Exhibit 10.17
Director Compensation
Each non-employee director of Farmers National Banc Corp. (the “Corporation”) shall receive for calendar year 2021 an annual retainer fee of $52,500. Directors with significant additional duties shall receive the following additional annual retainers: (i) $25,000 for the independent Chair of the Board of Directors; (ii) $20,000 for the independent Board Vice Chair from January 1, 2021 through April 30, 2021 and $10,000 from May 1, 2021 through December 31, 2021; (iii) $10,000 for the Chair of the Executive Committee; and (iv) $5,000 for all other committee Chairs.
Each non-employee director of Farmers National Banc Corp. (the “Corporation”) shall receive for calendar year 2022 an annual retainer fee of $62,500. Directors with significant additional duties shall receive the following additional annual retainers: (i) $25,000 for the independent Chair of the Board of Directors; (ii) $10,000 for the independent Board Vice Chair; (iii) $10,000 for the Chair of the Executive Committee; and (iv) $7,500 for all other committee Chairs.
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