Filed with this report
EX-10.1 2 mar-q22018xexx1014.htm EXHIBIT 10.1 Exhibit
Exhibit 10.1
Summary of Marriott International, Inc. Director Compensation
Non- Employee Directors
Board Retainer Fee (annual) | $85,000 |
Share Award (annual) | $165,000 |
Audit Committee Chair Fee (annual) | $20,000 |
Other (non-Audit) Committee Chair Fee (annual) | $10,000 |
Audit Committee Member Retainer (annual) | $10,000 |
Lead Independent Director Fee (annual) | $30,000 |
Retainer, chair and lead independent director fees are paid on a quarterly basis. However, in accordance with established Company procedures, a director may make an advance election to defer payment of all or a portion of his or her director fees pursuant to the Company’s Stock and Cash Incentive Plan and/or the Executive Deferred Compensation Plan. The Company grants the Non-Employee Director Share Awards following the Company’s annual meeting of stockholders.
Other Information
The Company reimburses directors for travel expenses, other out-of-pocket costs they incur when attending meetings and, for one meeting per year, attendance by spouses. To encourage our directors to visit and personally evaluate our properties, the directors also receive complimentary rooms, food and beverages at Company-owned, operated or franchised hotels, as well as the use of hotel-related services such as Marriott-managed golf and spa facilities, when on personal travel. The value of these benefits is reported to the directors as taxable compensation and the directors are not provided any gross-up to cover such taxes.
Employee Directors
Officers of the Company are not paid for their service as directors.
