Nexeo Solutions, Inc. Non-Employee Director Compensation Summary (2016)
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Summary
This document outlines the compensation plan for non-employee directors of Nexeo Solutions, Inc., adopted on July 26, 2016. Non-employee directors receive annual cash retainers, additional fees for committee chairs and leadership roles, and an annual restricted stock award. Compensation is paid quarterly, and stock awards vest after one year. Directors must maintain a stock ownership level equal to five times their annual cash retainer, with new directors given five years to meet this requirement. Directors are also reimbursed for reasonable business expenses.
EX-10.1 2 a09302016ex101.htm EXHIBIT 10.1 Exhibit
Exhibit 10.1
Nexeo Solutions, Inc.
Non-Employee Director Compensation Summary
Adopted by the Board of Directors on July 26, 2016
Cash Compensation:
Non-Employee Director Annual Retainer | $100,000 |
Non-Executive Chairman of the Board Annual Retainer | $100,000 |
Lead Director Annual Retainer | $20,000 |
Audit Committee Chair Annual Retainer | $20,000 |
Nominating and Corporate Governance Committee Chair Annual Retainer | $12,500 |
Compensation Committee Chair Annual Retainer | S15,000 |
Non-Employee Director compensation is payable in equal quarterly installments on or about the first business day of each fiscal quarter.
Non-Employee Directors are also eligible to receive an annual retainer of a restricted stock award with a grant date value of $100,000 granted (with the value based on the closing price of Nexeo’s common shares on the date prior to the grant date and the number of units rounded to the nearest whole unit). The restricted stock vests one year from the date of grant. The first grant was made on July 26, 2016; additional grants may be pro-rated as applicable based on additional grant dates.
Nexeo also requires that Non-Employee Directors maintain an ownership position in Nexeo of at least 5 times the value of the annual Cash Non-Employee Director Annual Retainer; provided, however, that new directors shall have five (5) years from their initial election to the Board to reach this ownership threshold. Pursuant to Nexeo’s policies, directors are also reimbursed for reasonable expenses incurred in the performance of their duties.
