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
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 company’s 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:
  $2.5K per year for non-committee chairs
  $5.0k per year for committee chairs
  $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
  4 times/year, prior to each board meeting
  1 additional meeting for annual audit review with auditors
  2 time/year, but initially meet prior to each board meeting for the first year
  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