Directors' Compensation Summary for Independent Directors of General Partner
This summary outlines the compensation for independent directors of the general partner following a public offering. Each independent director will receive a $50,000 annual retainer and an initial grant of common units valued at $50,000. Additionally, they will receive an annual grant of units worth $50,000 each year. Independent directors who serve as chairman or as a member of a board committee will receive an extra annual retainer of $25,000 or $10,000, respectively.
Exhibit 10.17
DIRECTORS’ COMPENSATION SUMMARY
Following the consummation of this offering, each independent director of our general partner will receive an annual retainer of $50,000. Each independent director will additionally receive an initial grant of the number of common units having a grant date fair value of approximately $50,000 following the closing of this offering. Each independent director will also receive an annual grant, effective on January 1st of each year, of the number of units having a grant date fair value of approximately $50,000 as of such date. Further, each independent director serving as a chairman or a member of a committee of the board of directors of our general partner will receive an annual retainer of $25,000 or $10,000, respectively.
