Summary of New Jersey Resources Corporation Non-Employee Director Compensation
Exhibit 10.1
Summary of Non-Employee Director Compensation
| Annual Cash Retainer Fee | $68,000 | |
| Lead Director Additional Annual Cash Retainer | $25,000 | |
| Annual Equity Retainer (in common stock equivalent)† | $110,000 | |
| Annual Retainer - Committee Member: | ||
| Audit | $12,000 | |
| Leadership Development and Compensation Committee | $6,000 | |
| Nominating/Corporate Governance Committee | $6,000 | |
| Additional Annual Retainer for Committee Chairs: | ||
| Audit | $15,000 | |
| Executive | $15,000 | |
| Leadership Development and Compensation | $15,000 | |
| Nominating/Corporate Governance | $15,000 | |
| Subsidiary Board Retainers:* | ||
| Annual Retainer- Subsidiary Board Member** | $9,000 | |
| Additional Annual Retainer- Subsidiary Board Lead Director*** | $15,000 | |
In the event of extraordinary circumstances resulting in an excessive number of Board or Committee meetings beyond the typical number of meetings of a Board or Committee in a given year, the Board retains discretion to pay an additional per meeting fee of $1,500 to each attending non-employee director that is a member of such Board or Committee.
† The number of shares to be based upon the closing price of a share of the Company’s common stock on the date of the grant.
* Subsidiary Boards include the Boards of Directors for New Jersey Natural Gas, NJR Energy Services, NJR Clean Energy Ventures and NJR Energy Investments.
**Subsidiary Board Member Annual Retainers and any additional meeting fees are based upon each member only being compensated for one meeting when joint Boards of Directors meetings occur.
***Lead Directors of more than one subsidiary Board will only be paid a single annual retainer fee of $15,000 for service as Lead Director on those Boards.
