Non-Employee Director Compensation Policy Effective March 2018

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for non-employee directors of the company, effective March 2018. Directors receive an annual cash retainer of $60,000 and an annual equity award valued at $120,000 in restricted stock units. Additional fees are provided for serving as Lead Director ($20,000) and for chairing various committees, ranging from $10,000 to $15,000. 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.

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EX-10.AQ 5 a201810kexhibit10aq.htm EXHIBIT 10.AQ Exhibit




Exhibit 10(aq)


 
Non-Employee Director Compensation
 
Effective March 2018
 
 
 
 
 
 
Board Member Fees:
 
 
 
 
 
 
 
 
 
Annual Retainer:
 
$
60,000

 
 
Annual Equity Award:
 
$
120,000

(1)(2)
 
 
 
 
 
 
 
 
$
180,000

 
 
 
 
 
 
 
 
 
 
 
 
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