Non-Management Director Compensation Plan
EX-10.16 4 d23140exv10w16.htm NON-MANAGEMENT DIRECTOR COMPENSATION PLAN exv10w16
Exhibit 10.16
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 | ||||
Chair of Compensation Committee and Nominating and Governance Committee1 | $ | 4,500 | quarterly | |||||
Each member of the Audit Committee | $ | 9,000 | quarterly | |||||
Chair of the Audit Committee | $ | 9,000 | quarterly | |||||
*Non-management directors are also reimbursed for travel expenses incurred to attend board meetings.
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. |
