PACCAR Inc Amendment to Compensatory Arrangement with Non-Employee Directors (January 2012)
PACCAR Inc has amended its compensation plan for non-employee directors, effective January 2012. The annual award of restricted stock or stock units for these directors increases from $90,000 to $100,000. The cash retainer and meeting fees remain the same. Additionally, the lead director and the chairs of the audit, compensation, and nominating & governance committees will each receive an annual cash retainer of $10,000, paid quarterly or pro-rated if appointed mid-quarter.
Exhibit 10(g)
PACCAR Inc
Amendment to Compensatory Arrangement With Non-Employee Directors
Effective January 2012, the annual award of restricted stock or restricted stock units for non-employee directors is increased from $90,000 to $100,000 under the Amended and Restated Restricted Stock and Deferred Compensation Plan for Non-Employee Directors. The cash retainer and meeting fees are unchanged.
Effective January 2012, the lead director and the chairman of the audit, compensation, and nominating & governance committees are entitled to an annual cash retainer of $10,000, payable quarterly. If the Board designates a lead director or committee chairman during a calendar quarter, a pro-rated retainer is paid.
