General Mills, Inc. Annual Retainer Agreement for Non-Employee Directors
General Mills, Inc. provides non-employee directors with a $50,000 annual retainer for serving on its board. The Audit Committee Chairman receives an additional $10,000 annually, while other Audit Committee members receive an extra $5,000 each. Directors can choose to receive these payments quarterly in cash, company stock, or defer them into various investment funds, including a General Mills stock fund.
Exhibit 10.1
Annual Retainer for DirectorsNon-employee directors receive a $50,000 annual retainer for their board service. In addition, the Audit Committee Chairman receives a $10,000 annual retainer and other members of the Audit Committee receive a $5,000 annual retainer. The retainer can be paid quarterly in cash, paid quarterly in company stock, or deferred quarterly into a variety of book-entry investment funds, including a General Mills stock fund.
