P. H. Glatfelter Company Summary of Non-Employee Director Compensation (Effective January 1, 2005)
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Summary
This document outlines the compensation structure for non-employee directors of P. H. Glatfelter Company, effective January 1, 2005. Directors receive an annual retainer of $22,000 (two-thirds in company stock, one-third in cash), additional annual payments for committee chair roles and board retreats, and $1,000 per board or committee meeting attended. They are also granted restricted stock units valued at $15,000 annually, which vest over three years. The agreement specifies the amounts and forms of compensation for board service.
EX-10.1 2 exhibit1.htm EX-10.1 EX-10.1
P. H. Glatfelter Company
Summary of Non-Employee Director Compensation
(effective January 1, 2005)
| Type | Frequency | Amount | ||||||
Board Retainer (1) | Annually | $ | 22,000 | |||||
Committee chairperson retainer | Annually | 4,000 | ||||||
Board retreat | Annually | 1,500 | ||||||
Board or committee meetings | Per meeting | 1,000 | ||||||
Other: Restricted Stock Units (2) | Annually | 15,000 | ||||||
| (1) | Annual retainer two-thirds of which will consist of shares of Glatfelter common stock and one-third in cash. |
| (2) | Restricted stock units with a grant-date value of $15,500 vesting ratably over a three year period. |
