Outside Director Compensation Policy for Board and Committee Service
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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.
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.