Board of Directors Compensation Schedule for 2020-2021 Term

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for members of the Board of Directors for the 2020-2021 term. It specifies annual compensation amounts for the Chairperson, committee chairs, committee members, and new directors without committee assignments. The agreement also details additional compensation for assignments to the Technology Committee and the Nominating and Governance Committee, including distinctions between primary and secondary assignments. The document ensures transparency regarding director pay and committee service compensation.

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EX-10.45 5 pgr-20201231exhibit1045.htm EX-10.45 Document

Exhibit 10.45

Board of Directors' Compensation

Board of Directors for the 2020-2021 term:
Chairperson of the Board$450,000
Audit Committee Chair300,000 
Audit Committee Member275,000 
Compensation Committee Chair290,000 
Compensation Committee Member265,000 
Investment and Capital Committee Chair290,000 
Investment and Capital Committee Member265,000 
New Director without a committee assignment265,000 
Technology Committee Chair1
290,000 
Technology Committee Member1
265,000 
Nominating and Governance Committee Chair2
20,000 
Nominating and Governance Committee Member2
15,000 
1Compensation for an assignment solely to the Technology Committee as the chairperson or member is $290,000 and $265,000, respectively. Compensation for a secondary assignment to the Technology Committee as the chairperson or member is $25,000 and $15,000, respectively.
2 Each member of the Nominating and Governance Committee has a primary assignment on one of the other committees and receives additional compensation for service in these positions.