Lakeland Financial Corporation Schedule of Board Fees Effective January 1, 2014
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Summary
Lakeland Financial Corporation's Compensation Committee and Board of Directors established a fee schedule for board members effective January 1, 2014. Directors receive an annual retainer, additional retainers for committee chair roles, fees for attending board and committee meetings, and an annual stock grant. The schedule specifies exact amounts for each role and meeting participation, as well as the number of shares granted annually. This agreement outlines the compensation structure for board service.
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, 2014:
| 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 |
