Newpark Resources Director Compensation Summary (Effective May 18, 2017)
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Summary
This document outlines the compensation policy for directors of Newpark Resources as of May 18, 2017. Employee directors receive only their regular salary, while non-employee directors and committee chairpersons receive annual cash retainers and grants of restricted stock. The Chairman of the Board receives higher compensation and stock grants than other directors. Additional retainers are provided for chairing or serving on key committees. Stock grants are valued based on the company's share price at the time of grant. The policy details compensation structure but does not specify a time limit or conditions beyond annual service.
EX-10.13 2 a2017q4exhibit1013.htm EXHIBIT 10.13 Exhibit
Exhibit 10.13
Director Compensation Summary
(EFFECTIVE AS OF MAY 18, 2017)
Employee directors receive no additional compensation other than their normal salary for serving on the Board or its committees. The Chairman of the Board receives $130,000 annually. Each non-employee director (other than the Chairman of the Board) receives $55,000 annually. In addition, the Chairmen of the Audit and Compensation Committees each receive a $30,000 annual retainer. The Chairman of the Nominating and Corporate Governance Committee receives an additional $20,000 annual retainer. Each Audit Committee member (other than the Chairman of the Committee) receives an additional $15,000 annual retainer. Each member of the Compensation and Nominating and Corporate Governance Committees (other than the Chairmen of those Committees) receives an additional $10,000 annual retainer. Outside directors (including the Chairman of the Board) also receive an initial grant, upon first election or appointment (depending on the date of the appointment), and an annual grant of shares of restricted stock equal to $150,000, except the Chairman of the Board who receives an annual grant of shares of restricted stock equal to $170,000, which valuation is based on the price of Newpark stock on the date of the grant (appointment, election or re-election).
