Peerless Mfg. Co. Non-Employee Director Compensation Schedule
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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 |
