Group 1 Automotive, Inc. Non-Employee Director Compensation Plan and Stock Ownership Guidelines (November 2006)

Contract Categories: Human Resources › Compensation Agreements
Summary

Group 1 Automotive, Inc. outlines compensation for its non-employee directors, including annual cash and stock retainers, additional fees for committee chairs and presiding directors, meeting fees, and a vehicle stipend. Directors are also required to own at least 3,000 shares of company stock within three years of joining the board. Restricted stock granted as part of compensation counts toward this ownership requirement. The plan specifies payment schedules and conditions for reduced meeting fees for abbreviated sessions.

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EX-10.36 4 h43400exv10w36.htm DESCRIPTION OF NON-EMPLOYEE DIRECTOR COMPENSATION PLAN exv10w36  

Exhibit 10.36
Group 1 Automotive, Inc.
Summary of Non-Employee Director Compensation
Approved November 2006
         
    Amount  
Annual Retainer1:
        
Cash
   $ 35,000  
Stock2
     70,000  
Additional Annual Retainers:
        
Non-Executive Chairman of the Board
     100,000  
Audit Committee Chair
     15,000  
Compensation Committee Chair
     10,000  
All Other Committee Chairs
     7,500  
Presiding Director
     15,000  
Meeting Fees3:
        
Board
     2,500  
Audit Committee
     2,500  
Non-Audit Committee
     1,500  
Vehicle Stipend
     17,600  
 
1.   Payable in quarterly installments.
 
2.   Granted under Group 1 Automotive, Inc. 1996 Stock Incentive Plan; valued at the date of grant.
 
3.   Abbreviated meetings, as determined at the discretion of the chair, will result in the payment of one-half of the regular fees for the meeting.
Summary of Director
Stock Ownership Guidelines
Approved November 2004
Directors are required to maintain ownership of a minimum of 3,000 shares of Group 1 Automotive, Inc.’s common stock. The minimum ownership requirement must be achieved within three years of election to the Board of Directors (or in the case of the individuals serving as director in November 2004, by November 2007). Restricted stock granted to directors as part of the annual retainer counts toward the minimum ownership requirement without regard to the vesting or other liquidity provisions related thereto.