Outside Director Compensation Policy for Board and Committee Service

Contract Categories: Human Resources › Compensation Agreements
Summary

This agreement outlines the compensation for non-employee directors of the company. Directors receive an annual retainer of $70,000, with additional payments for serving as Chairman or as chairs or members of various board committees. Non-employee directors are also granted restricted stock units valued at $185,000, calculated based on the company's average stock price. The agreement specifies the amounts for each role and the method for determining stock awards.

Read More Arrow
EX-10.17 2 exhibit1017.htm EXHIBIT 10.17 Exhibit


Exhibit 10.17

Outside Director Compensation

Annual Board Retainer
$70,000
Chairman of the Board Additional Retainer
$75,000
Committee Chair Retainers
 
Audit Committee Chair
$22,500
Compensation Committee Chair
$22,500
Nominating & Corporate Governance Committee Chair
$15,000
Neutrality Committee Chair
$10,000
Committee Member Retainers (other than Chair)
 
Audit Committee
$10,000
Compensation Committee
$10,000
Nominating & Corporate Governance Committee
$7,500
Neutrality
$5,000
 
Each non-employee director shall be granted restricted stock units, pursuant to the Plan and consistent with the Approved Policy, with respect to that number of shares of the Company’s Class A Common Stock equal to $185,000 divided by the 30-day moving average stock price of the Class A Common Stock as of the market close on the last business day of the fiscal quarter prior to the Date of Grant.