Unitrin, Inc. Non-Employee Director Compensation Summary (2006)
This document outlines the compensation package for non-employee directors of Unitrin, Inc. Directors receive annual cash retainers, meeting fees, and reimbursement for travel expenses. Additional retainers and fees are provided for service on specific committees and for committee chairpersons. Non-employee directors also receive an annual grant of stock options for 4,000 shares under the company's 1995 Non-Employee Director Stock Option Plan. Payments are made quarterly in advance, and compensation varies based on committee roles and attendance.
Summary of Unitrin, Inc.
NON-EMPLOYEE DIRECTOR COMPENSATION
Cash Compensation
Board -- annual retainer and attendance fees/reimbursement of expenses:
- $30,000, payable in advance in four, equal quarterly installments
- $1,500 for each board meeting attended
- reimbursement of travel expenses incurred in connection with attending any board of director or committee meetings
Executive Committee -- retainer fees:
- $8,000, payable in advance in four, equal quarterly installments
- Chairman -- additional $8,000, payable in advance in four, equal quarterly installments
Audit Committee -- retainer and meeting fees:
- $12,000, payable in advance in four, equal quarterly installments;
- Chairman -- additional $12,000, payable in advance in four, equal quarterly installments
- $1,000 meeting fee for each Committee meeting attended on a day other than a day when Board meets
Compensation Committee -- retainer fees:
- $5,000, payable in advance in four, equal quarterly installments
- Chairman -- additional $5,000, payable in advance in four, equal quarterly installments
Nominating & Corporate Governance Committee -- retainer fees:
- 5,000, payable in advance in four, equal quarterly installments
Chairman -- additional $10,000, payable in advance in four, equal quarterly installments
Equity Compensation
Pursuant to the 1995 Non-Employee Director Stock Option Plan, non-employee directors receive an annual stock option grant for 4,000 shares of the Company's common stock.
