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, effective January 1, 2009. Non-employee directors receive an annual cash retainer of $35,000, paid quarterly, and 1,200 shares of company stock each year. Additional fees are provided for serving as Lead Non-Management Director or as a committee chair, with amounts varying by committee. Directors also receive $1,500 for each committee meeting attended. The agreement specifies the compensation terms but does not include employment or service obligations.

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EX-10.16 4 nonempdircomp.htm NON-EMPLOYEE DIR COMPENSATION nonempdircomp.htm
 
Exhibit 10.16

Summary of New Jersey Resources Corporation Non-Employee Director Compensation
         
Annual Retainer Fee:
(effective January 1, 2009)
  
$35,000 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
  
Financial Policy Committee Chair:
    
$5,000
  
Leadership Development and Compensation Committee Chair:
    
$5,000
  
Nominating/Corporate Governance Committee Chair:
    
$5,000
  
         
Committee Meeting Fees:
  
$1,500 per meeting attended