Directors Compensation Summary Sheet for Nonemployee Directors

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Summary

This document outlines the compensation structure for nonemployee directors serving on the board. Nonemployee directors receive an annual retainer of $51,000, additional annual retainers for serving as committee chairs, attendance fees for board and committee meetings, reimbursement for attendance-related expenses, and an annual equity-based compensation award of $75,000. Payments are made quarterly at the end of March, June, September, and December.

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EX-10.16 2 a2196537zex-10_16.htm EXHIBIT 10.16
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Exhibit 10.16

DIRECTORS COMPENSATION SUMMARY SHEET

        Nonemployee directors receive compensation for board service. Payment dates are the last working day of March, June, September, and December. That compensation includes:

Annual Retainer:   $51,000

Committee Chair Retainers:
 
$30,000 annually for lead independent director (i.e., Outside Directors Committee chair)

 
 
$30,000 annually for Audit Committee chair

 
 
$20,000 annually for Executive Compensation Committee chair

 
 
$10,000 annually for Governance and Nominating Committee chair and all other committee chairs

Attendance Fees:
 
$2,000 for each board meeting (attended in person, conducted by telephone, or written consent in lieu of meeting)

 
 
$1,000 for each committee meeting (attended in person, conducted by telephone, or written consent in lieu of meeting)

 
 
Expenses related to attendance

Equity Based Compensation Award:
 
$75,000 annually


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    Exhibit 10.16
DIRECTORS COMPENSATION SUMMARY SHEET