Peerless Mfg. Co. Non-Employee Director Compensation Schedule

Summary

This document outlines the compensation structure for non-employee directors of Peerless Mfg. Co. Directors receive an annual retainer of $7,500, plus $1,000 for each board or committee meeting attended. Committee chairs receive an additional $500 per meeting. Each director is granted a 1,000 share option award at the annual shareholders’ meeting, and the Audit Committee Chairman receives a one-time special award of $2,500. The agreement specifies the pay and equity benefits for non-employee board members.

EX-10.(B) 2 d25437exv10wxby.htm DESCRIPTION OF COMPENSATION PAYABLE TO NON-EMPLOYEE DIRECTORS exv10wxby  

EXHIBIT 10(b)

Peerless Mfg. Co.

Schedule of Non-Employee Director Compensation

     
Annual Retainer
  $7,500
 
   
Board Meeting Fees
  $1,000 (per meeting attended)
 
   
Committee Meeting Fees
  $1,000 (per meeting attended)
 
   
Additional Committee Chair Fee
  $500 (per meeting attended)
 
   
Equity Consideration:
  1,000 share option award on the day of each annual shareholders’ meeting of the Company
 
   
One-time special compensation award to Audit Committee Chairman
  $2,500