Freshpet, Inc. Non-Employee Directors’ Compensation Summary

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the compensation for non-employee directors of Freshpet, Inc. Non-employee directors receive an annual cash retainer and an annual award of restricted stock units (RSUs), both paid in quarterly installments. Committee chairs receive additional quarterly stipends. The number of RSUs is based on the stock’s market value at the grant date, and dividends on RSUs are only paid if and when the awards vest. The agreement specifies the amounts for each type of compensation and the vesting schedule for RSUs.

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EX-10.10 2 ex_607238.htm EXHIBIT 10.10 ex_607238.htm

Exhibit 10.10

 

FRESHPET, INC. 

 

NON-EMPLOYEE DIRECTORS’ COMPENSATION SUMMARY

 

QUARTERLY FEES

 

Each non-employee director will receive annual fees consisting of the following:

 

 

(1)

$60,000 (or $60,000 for the Chair of the Board) retainer paid in cash payable in quarterly installments; and

 

 

(2)

$120,000 (or $170,000 for the Chair of the Board) award of time-vesting RSUs, which vest on the first anniversary of the grant date;

 

QUARTERLY STIPENDS

 

Each Committee Chair will also receive quarterly stipends as follows:

 

Non-Employee Director Stipends

Quarterly

Annualized

Audit Committee Chair

$3,750

$15,000

Compensation Committee Chair

$1,875

$7,500

Nominating and Corporate Governance Committee Chair

$1,875

$7,500
Board Member Serving on Multiple Committees $1,250 $5,000

 

VALUATION OF RESTRICTED STOCK UNITS

 

Annual Fees: The number of RSUs to be awarded annually to a director is determined by dividing the dollar value of RSUs to be granted to the director by the fair market value (the closing price) of our common stock on the date the grant date of the RSUs.

 

Dividends: Dividends (or dividend equivalents) shall not be payable with respect to any shares of stock underlying an award until such award has vested, except that a grantee of an award may be provided with the right to the accrual of dividends (or dividend equivalents) on the unvested portion of an award that may be payable upon the vesting of such portion of the award.