Summary of Director Compensation Effective January 1, 2014
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EX-10.31 3 a201310-k_exhibitx1031.htm EXHIBIT 10.31 2013.10-K_Exhibit_10.31
EXHIBIT 10.31
Summary of Director Compensation
Effective January 1, 2014
Cash Retainers (payable quarterly):
-Independent Directors - $70,000/year ($17,500/quarter)
-Board Chair - additional $40,000/year ($10,000/quarter)
-Audit Committee Chair - additional $15,000/year ($3,750/quarter)
-Compensation Committee Chair - additional $10,000/year ($2,500/quarter)
-Nominating & Governance Committee Chair - additional $7,500/year ($1,875/quarter)
Per Meeting Fees:
-None
Equity (all time-based restricted stock with a one year cliff vest):
-Independent Directors - $110,000/year
-Board Chair - additional $50,000/year
-All equity granted on date of annual meeting.
-New Board members will receive an equity grant equal to the annual grant amount but prorated from date of election to the first anniversary of the last annual meeting.
