Summary of Non-Employee Director Compensation Effective January 1, 2012

EX-10.16 2 d264649dex1016.htm NON-EMPLOYEE DIRECTOR COMPENSATION PLAN Non-Employee Director Compensation Plan

Exhibit 10.16

 

Summary of Non-Employee Director Compensation

Effective January 1, 2012

 

     Amount  

Annual Retainer:

   

Cash1

    $ 45,000   

Stock2

      110,000   

Additional Annual Retainers:

   

Non-Executive Chairman of the Board

      100,000   

Audit Committee Chair

      25,000   

Compensation Committee Chair

      15,000   

Finance/Risk Management Committee Chair

      15,000   

Nominating/Governance Committee Chair

      10,000   

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. 2007 Long Term 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 2009

Directors are required to maintain ownership of a minimum of 10,000 shares of Group 1 Automotive, Inc.’s common stock. The minimum ownership requirement must be achieved within five years of election to the Board of Directors. 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.