Summary of Compensation for Non-Employee Directors Effective January 1, 2009
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document outlines the compensation plan for non-employee directors of the company, effective January 1, 2009. Directors receive an annual retainer, meeting fees, additional retainers for committee chairs, and an annual equity grant in the form of restricted stock units. The equity grant vests in full at the end of the year. The plan specifies the amounts for each type of compensation and applies to all non-employee directors serving during this period.
EX-10.55 5 ex10_55.htm EXHIBIT 10.57 ex10_55.htm
Exhibit 10.55
Summary of Compensation for Non-Employee Directors
Effective January 1, 2009
Annual Board Retainer $ 50,000
Board Meeting Fee $ 1,500 per meeting attended
Committee Chair Annual Retainer
Audit/Compensation $ 15,000
Committee Chair Annual Retainer
Other Committees $ 10,000
Committee Meeting Fee $ 1,500 per meeting attended
Annual Equity Grant (1) $125,000
| (1) | Granted in the form Restricted Stock Units effective January 30, 2009. Each director received 8,760 Restricted Stock Units which will vest in full on December 31, 2009. |
