Summary of 2006 Compensation for Non-Employee Directors of Eli Lilly and Company

Summary

This document outlines the 2006 compensation plan for non-employee directors of Eli Lilly and Company. Non-employee directors receive an annual cash retainer, additional compensation for the presiding director, fees for attending and chairing committee meetings, and reimbursement for travel expenses. They also receive stock compensation in the form of deferred shares, with the value and number of shares determined by the market price at the time of contribution. The stock is payable after the director's service ends.

EX-10.10 4 c02657exv10w10.htm SUMMARY OF 2006 COMPENSATION FOR NON-EMPLOYEE DIRECTORS exv10w10

Exhibit 10.10

Summary of 2006 Compensation for Non-employee Directors

Cash Compensation

	•		Annual retainer of $80,000

	•		Additional annual retainer of $20,000 for the presiding director

	•		$1,000 for each committee meeting attended

	•		$2,000 to the committee chairpersons for each committee meeting chaired as compensation for the chairperson’s preparation time

	•		Reimbursement for customary and usual travel expenses

Stock Compensation

•

$145,000 of Lilly stock (subject to a maximum of 3,000 shares) in a deferred stock account in the Lilly Directors’ Deferral Plan, payable after service on the board has ended. The number of shares contributed to the account will be based on the market value of Lilly stock at the time of the contribution.