Board of Directors Independent Directors Compensation

EX-10.1 2 dex101.htm SUMMARY OF THE INDEPENDENT DIRECTOR COMPENSATION PROGRAM Summary of the Independent Director Compensation Program

Exhibit 10.1

Board of Directors

Independent Director’s Compensation


		Compensation		Timing of Payment⁽¹⁾
Annual Board Retainer: Cash Restricted Units⁽²⁾		$30,000 $50,000 (number of units determined on the semi-annual payment date)		Semi-annual payment of all retainers as of January 1^st and July 1^st
Chairman Retainer Fees: Audit Committee Compensation Committee Conflicts Committee		$15,000 $10,000 $10,000		Semi-annual payment of all retainers as of January 1^st and July 1^st
Meeting Fees: Board Meeting Fees Committee Meeting Fees		$1,500 per meeting $1,500 per meeting		Semi-annual payment of all meeting fees as of June 30^th and December 15^th

⁽¹⁾	For newly elected directors, the annual unit and cash retainers are payable pro-rata for the year of election. Directors who resign prior to a payment date will receive a pro-rate retainer at time of resignation.

⁽²⁾	Restricted Units are phantom units that vest upon retirement or termination from the Board.