a cash payment at closing of $2,000,000
EX-10.13 2 c14787exv10w13.htm EXHIBIT 10.13 Exhibit 10.13
Exhibit 10.13
Primo Water Corporation
Non-Employee Director Compensation Policy
Non-Employee Director Compensation Policy
In general, director compensation will be approximately 50% Cash and 50% Equity. Cash retainers will be paid, and equity grants will be made, on the first business day following the companys annual meeting of stockholders. Meeting fees will be paid within a reasonable period after the applicable meeting date.
Cash Component approximately $25,000 per year, depending on committee roles and meetings attended:
Retainer: | $2.5K per year for non-committee chairs | |
$5.0k per year for committee chairs | ||
Attendance: | $2.5k per meeting for in person regularly scheduled board meetings | |
$1.0k for telephonic attendance | ||
$1.0k for ad hoc scheduled telephonic special board meetings | ||
Committee Mtgs: | $1.0k per attendance each regularly scheduled committee mtg. | |
$0.5k for each ad hoc committee mtg telephonic | ||
Anticipated Meeting Schedule | ||
Audit: | 4 times/year, prior to each board meeting | |
1 additional meeting for annual audit review with auditors | ||
Governance: | 2 time/year, but initially meet prior to each board meeting for the first year | |
Compensation: | 2 time/year | |
Equity Component $25,000 per year: | ||
50% Restricted Stock | ||
50% Stock Options (valued using Black Scholes) | ||
Vesting after 1 year and 1 day |