Piedmont Board of Directors Resolution Establishing Non-Management Director Compensation (June 5, 2015)

Summary

This resolution, adopted by the Board of Directors of Piedmont, sets the compensation structure for non-management directors effective November 1, 2015. It outlines annual cash retainers for board and committee roles, eliminates meeting fees, and provides for an annual equity grant. The compensation includes specific amounts for board service, committee chair roles, and an additional retainer for the independent lead director. The structure also allows for a stock match if directors take their compensation in company stock through a designated plan.

EX-10.2 3 a20150731exhibit102.htm EXHIBIT 10.2 Exhibit

Exhibit 10.2

Resolution of Board of Directors, June 5, 2015, establishing compensation for non-management directors

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NOW, THEREFORE, LET IT BE RESOLVED, That the non-management Board member compensation structure set forth in Exhibit A is hereby approved, effective November 1, 2015.

EXHIBIT A



Piedmont Director Compensation Structure
Pay Component	Amount
Annual Board Retainer	$60,000*
Board Meeting Fee	Eliminated
Committee Meeting Fee	Eliminated
Annual Independent Lead Director Retainer	$17,500*
Annual Committee Chair Retainers	Audit: $15,000* Benefits: $5,000* Compensation: $9,375* Directors & Corporate Governance: $9,375* Finance & Enterprise Risk: $9,375*
Annual Equity Grant	$110,000

*Inclusive of the 25% stock match assuming the Director takes all of his or her retainers and attendance fees in the Company’s Dividend Reinvestment and Stock Purchase Plan.