Orion Marine Group, Inc. Non-Employee Director Compensation Schedule (2009)

Contract Categories: Human Resources › Compensation Agreements
Summary

Orion Marine Group, Inc. established a compensation program for its non-employee directors effective in 2009. Under this program, directors receive annual cash retainers, meeting fees, and reimbursement for business expenses. They may also choose to receive annual equity grants in the form of restricted stock or stock options. Additional compensation is provided for serving as chair or member of the Board's Audit, Compensation, and Nominating & Governance Committees. The equity grants for 2009 were issued on June 22, 2009, following the annual stockholders' meeting.

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EX-10.26 4 exhibit_1026.htm SCHEDULE OF NON-EMPLOYEE DIRECTOR COMPENSATION exhibit_1026.htm
 
 
 

Exhibit 10.26


Orion Marine Group, Inc.
Non-employees Director Compensation

In November 2008, the Orion Marine Group, Inc. (the “Company”) Board of Directors adopted the annual non-employee director compensation program (effective for 2009) summarized below:

A.  
Board of Directors

1.  
Cash Compensation
a.  
Annual Retainer: $35,000

b.  
Additional Chairman Retainer:  $25,000
c.  
Meeting Fee: $1,000 per regular meeting; no separate compensation for special meetings.

d.  
Reimbursement of travel and related business expenses.

2.  
Equity Compensation
a.  
At the particular director’s option, annual grants to each independent director of Company restricted stock or stock options with an economic value of $35,000 at the time of grant to each director.

b.  
Grants for 2009 to occur 30 days after the Company’s 2009 Stockholder’
 
Meeting (May 14, 2009)

B.  
Audit Committee

1.  
Chair Annual Retainer: $12,500.
2.  
Member Annual Retainer: $ 7,000.

3.  
Meeting Fee: $1,000 per regular meeting; no separate compensation for special meetings .

C.  
Compensation Committee

1.  
Chair Annual Retainer: $7,000.
2.  
Member Annual Retainer: $5,000.

3.  
Meeting Fee: $1,000 per regular meeting; no separate compensation for special meetings.

D.  
Nominating & Governance Committee

1.  
Chair Annual Retainer: $7,000
2.  
Member Annual Retainer: $5,000.

3.  
Meeting Fee: $1,000 per regular meeting; no separate compensation for special meetings.

The grants to each independent director were issued on June 22, 2009.