Summary of 2020 Non-Director Employee Compensation Plan
Summary of Non-Employee Director Compensation Effective January 2020
|Annual Cash Retainer Fee||$78,000|
|Lead Director Additional Annual Cash Retainer||$25,000|
|Annual Equity Retainer (in common stock equivalent)†||$110,000|
|Annual Retainer - Committee Member:|
|Leadership Development and Compensation Committee||$6,000|
|Nominating/Corporate Governance Committee||$6,000|
|Additional Annual Retainer for Committee Chairs:|
|Leadership Development and Compensation||$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.