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 $30,000, paid quarterly, and 800 shares of company stock each year. Additional fees are provided for serving as Lead Non-Management Director and as chairs of various committees, with amounts ranging from $5,000 to $10,000. Directors also receive $1,500 for each committee meeting attended. The compensation plan is effective as of November 14, 2007.

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EX-10.16 5 ex_summarynjrnedc.htm SUMMARY OF NJRS'S NON-EMPLOYMENT DIR COMP ex_summarynjrnedc.htm
Exhibit 10.16
    
Summary of New Jersey Resources Corporation Non-Employee Director Compensation
     
Annual Retainer Fee:
(effective November 14, 2007)
  
 
$30,000 cash (paid quarterly)
   
800 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