Parker-Hannifin Corporation Summary of Compensation for Non-Employee Directors (Effective October 24, 2012)
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Summary
Parker-Hannifin Corporation outlines the compensation for its non-employee Board of Directors members, effective October 24, 2012. Committee chairs receive annual retainers ranging from $127,500 to $145,000, while non-chair committee members receive $120,000. Directors also earn $2,000 for each meeting attended beyond two extra meetings per year. Additionally, non-employee directors receive an annual grant of restricted stock. This summary sets forth the key compensation terms for non-employee board service.
EX-10.B 2 ph123112ex10bbodcompsummar.htm EXHIBIT PH 12.31.12 EX 10B BOD COMP SUMMARY (1)
Exhibit 10(b)
PARKER-HANNIFIN CORPORATION
SUMMARY OF THE COMPENSATION OF THE NON-EMPLOYEE MEMBERS OF THE BOARD OF DIRECTORS
Adopted August 15, 2012, effective October 24, 2012
Annual retainer for Corporate Governance and Nominating
Committee Chair: $145,000
Annual retainer for Audit Committee Chair: $135,000
Annual retainer for Human Resources and Compensation
Committee Chair: $130,000
Annual retainer for Finance Committee Chair: $127,500
Annual retainer for non-chair committee members: $120,000
Meeting fees of $2,000 for attending each Board of Directors or Committee meeting that exceeds the number of regularly-scheduled meetings of the Board or the relevant Committee in a fiscal year by more than two.
Annual restricted stock grant
