Director Compensation Schedule for 2003–2005

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-employee directors and the Chairman of the Board for the years 2003, 2004, and 2005. It details annual retainers, fees for attending board and committee meetings (including telephone meetings), and the value of annual restricted stock awards. The schedule specifies different compensation amounts for committee members and chairs, and provides a separate compensation arrangement for the Chairman, who receives a larger restricted stock award in lieu of other fees.

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EX-10.AW 4 l12357aexv10waw.txt EX-10(AW) DIRECTOR COMPENSATION SCHEDULE . . . Exhibit No. 10(AW) DIRECTORS COMPENSATION SCHEDULE FOR 2003, 2004 AND 2005
2003 2004 2005 ---- ---- ---- NON-EMPLOYEE DIRECTORS (EXCLUDING CHAIRMAN - SEE BELOW) Retainer (per year) $ 8,000 $ 10,000 $ 10,000 Board Meetings 3,000 3,000 3,200 Board Telephone Meeting 1,500 1,500 1,500 Management Interaction Day 2,000 2,000 2,000 Special Meetings(1) 1,000 1,000 1,000 COMMITTEE MEETINGS AUDIT COMMITTEE Meetings - Committee Member 1,000 2,000 2,100 Meetings - Committee Chair 1,500 4,000 4,200 Regularly Scheduled Audit Telephone Meetings - Committee Member 1,000 1,000 1,000 Regularly Scheduled Audit Telephone Meetings - Committee Chair 1,500 1,500 1,500 ALL OTHER COMMITTEES Meetings - Committee Member 1,000 2,000 2,100 Meetings - Committee Chair 1,500 2,500 2,600 Telephone Meetings (as needed) 500 500 500 RESTRICTED STOCK AWARDS Value of Annual Restricted Stock Awards (excluding Chairman) 95,000 100,000 100,000 Chairman of the Board Value of Annual Restricted Stock Award in lieu of Retainer and Meeting Fees 200,000 200,000 200,000
(1) In 2003 and 2004, the fee was $500 for attendance by telephone.