Summary of Compensation for Directors
Exhibit 10.63
Summary of Compensation for Directors
As of December 31, 2014, PC Connection, Inc.’s directors consisted of: (i) Joseph Baute; (ii) David Beffa-Negrini; (iii) Barbara Duckett; (iv) Patricia Gallup; (v) David Hall; and (vi) Donald Weatherson. Each director receives an annual retainer of $75,000, payable quarterly, for service on the Board. Each independent director also receives an annual retainer of $15,000, payable quarterly, for participation in the Board’s audit and compensation committees. In addition, Board members who act in a chairman capacity receive annual fees as follows: Board chair, $35,000; Board vice-chair, $10,000; audit committee chair, $10,000; compensation committee and sub-committee chair, $5,000. On October 30, 2014, each director was awarded 2,000 restricted stock units, valued at a price of $22.50 per unit, which vest in four equal annual installments beginning on September 1, 2016. The restricted stock units are settled in equivalent shares of our common stock upon vesting. The table below sets forth the retainer fees paid for 2014:
| Director | Annual Retainer | Chairman Fees | Audit and Compensation Committee | Total Retainer Fee Paid for 2014(1) | ||||||||||||
| Joseph Baute | $ | 75,000 | $ | 10,000 | $ | 15,000 | $ | 100,000 | ||||||||
| David Beffa-Negrini | 75,000 | 75,000 | ||||||||||||||
| Barbara Duckett | 75,000 | 5,000 | 15,000 | 95,000 | ||||||||||||
| Patricia Gallup | 75,000 | 35,000 | — | 110,000 | ||||||||||||
| David Hall | 75,000 | 75,000 | ||||||||||||||
| Donald Weatherson | 75,000 | 10,000 | 15,000 | 100,000 | ||||||||||||
| (1) | In addition, non-officer directors receive reimbursement for all reasonable expenses incurred in attending board and committee meetings. |
