Non-Employee Director Compensation Schedule (December 2015)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-employee directors of the company as of December 2015. Directors receive an annual cash retainer of $60,000 and an annual equity award valued at $90,000 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 for each board or committee meeting attended beyond 24 meetings per year. The equity award is prorated for new directors based on their start date.

Read More Arrow
EX-10.P 4 a201510kexhibit10p.htm EXHIBIT 10.P Exhibit




Exhibit 10(p)


 
Non-Employee Director Compensation
 
December 2015
 
 
 
 
 
 
Board Member Fees:
 
 
 
 
 
 
 
 
 
Annual Retainer:
 
$
60,000

 
 
Annual Equity Award:
 
$
90,000

(1)(2)
 
 
 
 
 
 
 
 
$
150,000

 
 
 
 
 
 
 
 
 
 
 
 
Lead Director Fee:
 
$
20,000

 
 
 
 
 
 
 
Committee Chair Fees:
 
 
 
 
 
 
 
 
 
Audit
 
$
15,000

 
 
Compensation & Management Development
 
$
15,000

 
 
Nominating & Governance
 
$
10,000

 
 
Regulatory & Compliance
 
$
15,000

 
 
 
 
 
 
 
Meeting Fees:
 
$
1,500

(3)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1)
Target Value of restricted stock units on the date of annual grant
 
 
 
(2)
100% of the number of shares in annual grant is awarded to a new director who joins the Board between January and June, and 50% of the number of shares is awarded if he or she joins Board between July and December
 
 
 
(3)
For meetings attended in excess of 24 in a year