Summary of Compensation for Non-Employee Directors of Parker-Hannifin Corporation
This document outlines the compensation structure for non-employee members of the Board of Directors of Parker-Hannifin Corporation, effective October 1, 2007. It specifies annual retainers for committee chairs and members, additional meeting fees for excess meetings, and an annual restricted stock grant. The compensation varies depending on the committee and role, with higher retainers for committee chairs. The agreement ensures non-employee directors are compensated for their service and participation in board and committee activities.
Exhibit 10(b)
PARKER-HANNIFIN CORPORATION
SUMMARY OF THE COMPENSATION OF THE NON-EMPLOYEE MEMBERS
OF THE BOARD OF DIRECTORS
Adopted August 16, 2007, effective October 1, 2007
| Annual retainer for Audit Committee Chair: | $ | 102,500 | |
| Annual retainer for Human Resources and Compensation Committee Chair: | $ | 97,500 | |
| Annual retainer for each of the Chairs of the Corporate Governance and Nominating Committee and the Finance Committee: | $ | 92,500 | |
| Annual retainer for Non-Chair Committee members: | $ | 87,500 | |
Meeting fees of $1,500 for attending any Board or Committee meeting during any fiscal year in excess of the number of regularly scheduled Board or Committee meetings by more than two.
Annual restricted stock grant
