FPL Group, Inc. Non-Employee Director Compensation Summary (Effective January 1, 2008)
This document outlines the compensation and benefits for non-employee directors of FPL Group, Inc. as of January 1, 2008. Directors receive an annual retainer of $50,000, meeting fees, additional retainers for committee chairs, and an annual grant of restricted stock. They are also eligible for travel and accident insurance, reimbursement of business expenses, participation in the company's deferred compensation and matching gift programs, and may accrue dividends and interest on certain phantom stock units. The agreement specifies payment methods and eligibility for these benefits.
Exhibit 10(c) FPL GROUP, INC. (effective January 1, 2008) Annual Retainer $ 50,000 (payable quarterly in common stock or cash) Board or Committee meeting fee $ 1,500/meeting Audit Committee Chair retainer (annual) $ 15,000 (payable quarterly) Other Committee Chair retainer (annual) $ 10,000 (payable quarterly) Annual grant of restricted stock that number of shares (under Non-Employee Directors Stock Plan) Miscellaneous - Travel and Accident - Certain directors accrue - Travel and related expenses - Directors may participate in Directors may participate in the Company's matching gift program, which matches gifts to educational institutions to a maximum of $10,000 per donor
NON-EMPLOYEE DIRECTOR COMPENSATION SUMMARY
determined by dividing
$100,000 by closing price
of FPL Group common
stock on effective date of
grant (rounded up to the
nearest 10 shares)
Insurance while on
Company business.
dividends and interest on the
phantom stock units granted
to them upon the termination
of the Non-Employee Director
Retirement Plan in 1996.
while on Board business are paid
or reimbursed by the Company.
the Company's Deferred Compensation Plan.
