Lakeland Financial Corporation Schedule of Board Fees Effective January 1, 2016
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Summary
Lakeland Financial Corporation has established a fee schedule for its Board of Directors, effective January 1, 2016. Directors receive an annual retainer of $25,000, with additional annual retainers for committee chair roles ranging from $30,000 to $35,000. Directors are also paid $1,000 for each board or committee meeting attended and receive an annual stock grant of 1,250 shares. This schedule outlines the compensation structure for board service and committee leadership.
EX-10.9 4 ex109.htm SCHEDULE OF BOARD FEES ex109.htm
Exhibit 10.9
Schedule of Board Fees
The Compensation Committee and Board of Directors of Lakeland Financial Corporation adopted the following fee schedule effective January 1, 2016:
| Annual Director Retainer: | $ | 25,000 | |||
| Annual Audit Committee Chairman Retainer: | $ | 35,000 | |||
| Annual Lead Director and Governance Committee Chairman Retainer: | $ | 35,000 | |||
| Annual Compensation Committee Chairman Retainer: | $ | 30,000 | |||
| Annual Corporate Risk Committee Chairman Retainer | $ | 30,000 | |||
| Board Meeting Fee: | $ | 1,000 | per meeting | ||
| Committee Meeting Fee: | $ | 1,000 | per meeting | ||
| Annual stock grant: | 1,250 | shares |
