Annual Cash Retainer Fee (All independent directors except Lead Director): $68,000 Lead Director Additional Annual Cash Retainer $18,750 Annual Equity Retainer (in common stock equivalent) $90,000 Annual Retainer - Committee Member:Audit $12,000Leadership Development and Compensation Committee$6,000Nominating/Corporate Governance Committee$6,000Additional 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
EX-10.1 2 exhibit101summaryofdirecto.htm EXHIBIT 10.1 SUMMARY OF DIRECTOR COMPENSATION Exhibit
Exhibit 10.1
Summary of New Jersey Resources Corporation Non-Employee Director Compensation
Annual Cash Retainer Fee (All independent directors except Lead Director): | $68,000 | |||||
Lead Director Additional Annual Cash Retainer | $18,750 | |||||
Annual Equity Retainer (in common stock equivalent)† | $90,000 | |||||
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, NJR Clean Energy Ventures II 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.
