Huron Consulting Group Inc. Directors' Compensation Summary for 2007 and 2008
This document outlines the compensation structure for independent directors of Huron Consulting Group Inc. for 2007 and 2008. Directors receive annual cash retainers, meeting fees, and additional retainers for committee chairmanships. They are also granted restricted common stock upon appointment and annually, with the value and vesting schedule specified. Compensation is prorated based on service duration, and equity grants vest over twelve quarters. The summary ensures transparency regarding director pay and equity incentives for the specified years.
EXHIBIT 10.16
HURON CONSULTING GROUP INC.
DIRECTORS’ COMPENSATION FOR 2007 AND 2008
SUMMARY SHEET
| 2007 | 2008 | |||||
| Cash Compensation | ||||||
| Annual Board Retainer (1) | $ | 40,000 | $ | 50,000 | ||
| Annual Committee Chairmanship Retainer (1): | ||||||
| Audit Committee | $ | 10,000 | $ | 10,000 | ||
| Compensation Committee | $ | 7,500 | $ | 7,500 | ||
| Nominating and Corporate Governance Committee | $ | 7,500 | $ | 7,500 | ||
| Board Meeting Fee (per meeting) | $ | 1,000 | $ | 1,000 | ||
| Committee Meeting Fee (per meeting) | $ | 1,000 | $ | 1,000 | ||
| Equity Compensation | ||||||
| Grant of Restricted Common Stock Upon Appointment (2) | 15,000 shares | $ | 400,000 | |||
| Annual Grant of Restricted Common Stock (3) (aggregate fair value) | $ | 150,000 | $ | 160,000 | ||
| (1) | Annual retainers are paid in four equal installments and are prorated to reflect the portion of the year that the director serves on the board. |
| (2) | Beginning in 2008, upon appointment to the board, independent directors will be granted shares of restricted common stock with an aggregate fair value of $400,000, based on the closing stock price on the date immediately preceding the date of appointment. Such shares will vest over the following twelve quarters. |
| (3) | On the date of the 2007 annual meeting of stockholders, each independent director was granted shares of restricted common stock with an aggregate fair value of $150,000. On the date of the 2008 annual meeting of stockholders, each independent director will be granted shares of restricted common stock with an aggregate fair value of $160,000. The number of shares granted is based on the closing stock price on the date immediately preceding the date of the annual meeting and vest over the following twelve quarters. |
