LIN TV Corp. Summary of Director Compensation Policy (as of March 15, 2007)
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Summary
LIN TV Corp. outlines the compensation for its non-employee directors as of March 15, 2007. Directors receive an annual cash retainer, with additional retainers for committee chair roles. They are also paid fees for attending board and committee meetings, either in person or by phone. Directors receive initial stock option grants, with amounts varying by position. Directors may choose to receive half of their annual retainer in class A common stock. This policy sets out the structure and amounts of director compensation.
EX-10.11 3 d44073exv10w11.htm SUMMARY OF DIRECTOR COMPENSATION POLICIES exv10w11
Exhibit 10.11
LIN TV Corp.
Summary of Director Compensation
As of March 15, 2007, our non-employee directors receive the following compensation:
Annual Cash Retainer for each non-employee directors (1) | $ | 30,000 | ||
Additional annual cash retainers for: | ||||
Compensation committee chairman | $ | 7,500 | ||
Nominating and corporate governance committee chairman | $ | 7,500 | ||
Audit committee chairman | $ | 10,000 | ||
Per Meeting Cash Fees | ||||
Board meeting attended in person | $ | 1,500 | ||
Committee meeting attended in person | $ | 1,000 | ||
Board meeting attended via telephone | $ | 1,000 | ||
Committee meeting attended via telephone | $ | 500 | ||
Initial option stock grants awarded to: | ||||
Each board member | $ | 100,000 | ||
Chairman of the Board | $ | 50,000 | ||
Audit committee chairman | $ | 30,000 | ||
Audit committee member | $ | 10,000 | ||
Nominating and corporate governance chairman | $ | 15,000 | ||
Compensation committee chairman | $ | 15,000 |
| (1) | Directors may elect to receive half of their annual retainer in class A common stock. |
