Non-Management Director Compensation Plan
EX-10.3 5 d25101exv10w3.htm NON-MANAGEMENT DIRECTOR COMPENSATION PLAN exv10w3
Exhibit 10.3
Lamar Advertising Company
Non-Management Director Compensation Plan
(effective October 1, 2004)
Director Fees
Recipient | Annual Fee | Payment Schedule | ||||||
Each non-management director | $ | 36,000 | * | monthly | ||||
Each director who serves on at least one Committee of the Board of Directors | $ | 9,000 | quarterly | |||||
Chair of the Audit Committee | $ | 9,000 | quarterly | |||||
Chair of Compensation Committee and Nominating and Governance Committee1 | $ | 4,500 | quarterly |
*Non-management directors are also reimbursed for travel expenses incurred to attend board and committee meetings and expenses incurred to perform other, related responsibilities.
Stock Options
At the discretion our Compensation Committee, our independent, non-management directors may also receive option grants from time to time.
1 | The same director currently serves as chair of both committees. |