OGE Energy Corp. 2015 Non-Officer Director Compensation Summary

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2015 compensation plan for non-officer directors of OGE Energy Corp. Directors received an annual retainer of $146,600, split between cash payments and company stock units through a Deferred Compensation Plan. Additional cash retainers were provided for lead directors and committee chairs, and meeting attendance fees were paid. Directors could defer payments, with deferred amounts invested in various options, including company stock. Upon leaving the board, directors receive their deferred compensation in cash, either as a lump sum or in installments.

Read More Arrow
EX-10.33 2 a2015oge10-kxex1033.htm EXHIBIT 10.33 Exhibit


Exhibit 10.33

OGE Energy Corp.
Director Compensation
Compensation of non-officer directors of the Company in 2015 included an annual retainer fee of $146,600, of which $51,600 was payable in cash in monthly installments and $95,000 was deposited in the director's account under the Company's Deferred Compensation Plan in December 2015 and converted to 3,859 common stock units based on the closing price of the Company's Common Stock on December 8, 2015. All non-officer directors received $2,000 for each Board meeting and $2,000 for each committee meeting attended. The lead director received an additional $20,000 cash retainer in 2015. The chairman of the Audit Committee received an additional $15,000 cash retainer in 2015. The chairmen of the Compensation and Nominating and Corporate Governance Committees received an additional $10,000 annual cash retainer in 2015. Each member of the Audit Committee also received an additional annual retainer of $5,000 and the Chair of the Audit Committee received a meeting fee of $2,000 for significant meetings (wither in person or by phone) with management to address Committee matters. These amounts represent the total fees paid to directors in their capacities as directors of the Company and OG&E in 2015.

Under the Company's Deferred Compensation Plan, non-officer directors may defer payment of all or part of their attendance fees and the cash portion of their annual retainer fee, which deferred amounts in 2015 were credited to their account as of the first day of the month in which the deferred amounts otherwise would have been paid. Amounts credited to the accounts are assumed to be invested in one or more of the investment options permitted under the Company's Deferred Compensation Plan. In 2015, those investment options included a Company Common Stock fund, whose value was determined based on the stock price of the Company's Common Stock. When an individual ceases to be a director of the Company, all amounts credited under the Company's Deferred Compensation Plan are paid in cash in a lump sum or installments. In certain circumstances, participants may also be entitled to in-service withdrawals from the Company's Deferred Compensation Plan.