Description of Changes to Non-Management Director and Committee Chair Compensation

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines changes approved by the Corporate Governance Committee regarding compensation for non-management directors and the chair of the Corporate Governance Committee. Effective January 1, 2013, the annual equity grant for non-management directors will increase from $100,000 to $150,000, and the annual fee for the committee chair will rise from $10,000 to $15,000. These changes were approved at the committee's October 25, 2012 meeting.

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EX-10.(III)(A)(1) 2 a93012exhibit10iiia1.htm DESCRIPTION OF THE CHANGES TO THE COMPENSATION OF NON-MANAGEMENT DIRECTORS AND THE CORPORATE GOVERNANCE COMMITTEE CHAIR 9.30.12 Exhibit 10(iii)(A)(1)



EXHIBIT 10(iii)(A)(1)

Description of the Changes to the Compensation of Non-Management Directors and the Corporate Governance Committee Chair

In the October 25, 2012 meeting of the Corporate Governance Committee of the Board of Directors (the "Corporate Governance Committee"), the Corporate Governance Committee approved the following changes to the overall compensation of the Board of Directors:

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an increase in the value of future annual equity grants awarded to non-management directors from $100,000 to $150,000; and

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effective January 1, 2013, an increase to the annual fee paid to the Corporate Governance Committee chairperson from $10,000 to $15,000.