Non-Employee Director Compensation Policy Effective January 2021

Summary

This document outlines the compensation policy for non-employee directors of the company, effective January 2021. Directors receive an annual cash retainer of $65,000 and an annual equity award valued at $130,000 in restricted stock units. Additional fees are provided for serving as Lead Director ($20,000) or as a committee chair, with amounts varying by committee. Directors also earn $1,500 per meeting attended beyond 24 meetings in a year. New directors receive a pro-rated equity award based on their start date.

EX-10.AR 4 a202010kexhibit10ar.htm EX-10.AR Document



Exhibit 10(ar)

Non-Employee Director Compensation
Effective January 2021
Board Member Fees:
Annual Retainer:$65,000 
Annual Equity Award:$130,000 (1)(2)
$195,000 
Lead Director Fee:$20,000 
Committee Chair Fees:
Audit$15,000 
Compensation$15,000 
Nominating & Governance$10,000 
Regulatory & Compliance$15,000 
 
Meeting Fees:$1,500 (3)
(1)Target Value of restricted stock units
(2)New Directors receive an award of a pro-rated number of shares of the most recent annual grant based on the months remaining until the next annual grant
(3)For meetings attended in excess of 24 in a year