Summary of Fluor Corporation Non-Management Director Compensation
Exhibit 10.15
Summary of Fluor Corporation Non-Management Director Compensation
Cash Compensation
| Annual Retainer: |
| $ | 105,000 |
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| Annual Committee Retainer: |
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| Audit Committee Chair: |
| $ | 15,000 |
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| Organization and Compensation |
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| Committee Chair: |
| $ | 10,000 |
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| Governance Committee Chair: |
| $ | 10,000 |
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| Lead Director Retainer: |
| $ | 30,000 |
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Retainers are paid quarterly in cash and can be deferred at the director’s election under the Fluor Corporation 409A Deferred Directors’ Fees Program.
Equity Compensation
Each non-management director receives an annual grant of restricted stock and restricted units with a total market value of $105,000. The grant is made on the date of the annual meeting of shareholders. Non-management directors joining the Board after the date of the annual meeting receive a pro rata award on the date of their appointment to the Board. Restrictions on awards granted prior to 2008 lapse at a rate of 20% per year over five years; and restrictions on awards granted in 2008 or later will vest immediately on the first anniversary of the date of grant.
Other Information
Fluor Corporation reimburses non-management directors for their travel and related expenses in connection with attending Board meetings and Board-related activities. Directors also receive life insurance ($75,000 in coverage) and travel insurance ($250,000 in coverage). Directors’ charitable contributions that meet the guidelines of the Company’s employee charitable matching gift program are eligible for matching funds from the Company in an amount up to $5,000 per year.
