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:


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