Parker-Hannifin Corporation Summary of Compensation for Non-Employee Directors
Parker-Hannifin Corporation outlines the compensation structure for its non-employee Board members, effective October 1, 2006. Non-employee directors receive annual retainers based on their roles: $95,000 for the Audit Committee Chair, $85,000 for other Committee Chairs, and $80,000 for other Committee members. Additional meeting fees of $1,500 are paid for attending extra Board or Committee meetings beyond the regular schedule. Directors also receive an annual grant of restricted stock as part of their compensation.
Exhibit 10.1
PARKER-HANNIFIN CORPORATION
SUMMARY OF THE COMPENSATION OF THE NON-EMPLOYEE MEMBERS
OF THE BOARD OF DIRECTORS
Adopted August 16, 2006, effective October 1, 2006
| Annual retainer for Audit Committee Chair: | $ | 95,000 | |
| Annual retainer for Committee Chairs (other than the Audit Committee Chair): | $ | 85,000 | |
| Annual retainer for Non-Chair Committee members: | $ | 80,000 |
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, plus two.
Annual restricted stock grant
