Summary of Non-Employee Director Compensation, effective January 1, 2020
Exhibit 10.25
P. H. Glatfelter Company
Summary of Non-Employee Director Compensation
(effective January 1, 2020)
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| Type (year of service May 1 to April 30) |
| Form |
| Frequency |
| Amount | ||||
| Board retainer (1) |
| Cash |
| Annually |
| $ | 70,000 |
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| Lead Director retainer (1) |
| Cash |
| Annually |
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| 20,000 |
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| Committee Chair retainers (1) |
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| Audit |
| Cash |
| Annually |
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| 20,000 |
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| Compensation |
| Cash |
| Annually |
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| 15,000 |
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| Nominating & Corporate Governance |
| Cash |
| Annually |
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| 10,000 |
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| Committee meetings (2) |
| Cash |
| Per meeting |
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| 1,500 |
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| Restricted Stock Units (3) |
| Equity |
| Annually |
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| 115,000 |
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| (1) |
| Paid semi-annually in advance on May 1 and November 1, for year of service from May 1 to April 30. |
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| (2) |
| Paid in arrears for committee meetings in excess of eight held during year of service from May 1 to April 30. |
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| (3) |
| Restricted stock units valued at $115,000 on grant date with 100% vesting (and pay out as Common Stock) on first anniversary of the date of grant, or earlier upon a change of control or death or disability of director. Dividend equivalents accrue during vesting year in the form of additional restricted stock units paid upon vesting. |
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