Summary of Non-Employee Director Compensation for New Jersey Resources Corporation

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-employee directors of New Jersey Resources Corporation. Directors receive an annual cash retainer of $50,000, paid quarterly, and 1,200 shares of NJR common stock each year. Additional annual fees are provided for the Lead Non-Management Director ($10,000) and for chairs of various committees, ranging from $5,000 to $10,000. Directors also receive $1,500 for each committee meeting attended. The agreement specifies the compensation terms but does not include other employment or service conditions.

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EX-10.7 2 exhibit10711-18x111.htm SUMMARY OF NJR NON-EMPLOYEE DIRECTOR COMPENSATION Exhibit 10.7 11-18-11 (1)



Exhibit 10.7     

Summary of New Jersey Resources Corporation Non-Employee Director Compensation
 
 
 
 
 
Annual Retainer Fee:
 
$50,000 cash (paid quarterly)
 
 
 
 
1,200 shares of NJR Common Stock
(paid annually)
 
 
 
 
 
 
Lead Non-Management Director Fee:
 
 
$10,000
 
Annual Retainer for Committee Chairs:
 
 
 
 
Audit Committee Chair:
 
 
$10,000
 
Executive Committee Chair:
 
 
$10,000
 
Leadership Development and Compensation Committee Chair:
 
 
$10,000
 
Nominating/Corporate Governance Committee Chair:
 
 
$5,000
 
Committee Meeting Fees:
 
$1,500 per meeting attended