Morgan Stanley Schedule of Non-Employee Directors' Annual Compensation (Effective February 8, 2005)
This document outlines the annual compensation for non-employee directors of Morgan Stanley, effective February 8, 2005. Non-employee directors receive a $75,000 retainer for board service, $15,000 for serving as a committee chair, and $7,500 for serving as a committee member. Payments are made in advance after the Annual Meeting of Shareholders, or pro-rated if a director joins the board or a committee mid-term. The agreement ensures clear compensation terms for non-employee directors.
EXHIBIT 10.51
MORGAN STANLEY
SCHEDULE OF NON-EMPLOYEE DIRECTORS ANNUAL COMPENSATION
Effective February 8, 2005
RETAINER(1)(2) | AMOUNT | ||
Service as a Director | $ | 75,000 | |
Service as a Committee Chair | $ | 15,000 | |
Service as a Committee Member | $ | 7,500 |
(1) Retainer shall be paid promptly after the Annual Meeting of Shareholders, in advance for the period until the next succeeding Annual Meeting of Shareholders.
(2) In the event a non-employee director shall join the Board of Directors of Morgan Stanley (the Board) at a time other than an Annual Meeting of Shareholders, or shall commence service on an additional Board committee, such director shall be entitled to receive promptly after joining the Board of Directors or such committee, a pro-rated retainer for service until the next succeeding Annual Meeting of Shareholders.