Non-Employee Director Compensation Policy (Effective May 15, 2015)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation policy for non-employee directors of the company, effective May 15, 2015. Non-employee directors receive an annual cash retainer of $75,000, with no additional meeting attendance fees. Committee chairs receive extra annual cash fees ranging from $20,000 to $25,000, depending on the committee. Each director is also granted $200,000 in restricted stock annually, which vests the day before the next annual meeting. The lead director receives an additional annual cash fee of $75,000.

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EX-10.22 5 a2015exhibit1022.htm EXHIBIT 10.22 Exhibit


Exhibit 10.22
Non-Employee Director Compensation
(Effective May 15, 2015)
Annual Cash Retainer:
$75,000
 
 
Meeting Attendance Fees:
None
 
 
Committee Chair Annual Cash Fees:
Audit: $25,000
Compensation & Management Development: $20,000
Nominating & Corporate Governance: $20,000
Operations & Reserves: $20,000
 
 
Annual Restricted Stock Award:
$200,000 of restricted stock on date of Annual Meeting
Vests day before next Annual Meeting
 
 
Annual Lead Director Cash Fee:
$75,000