Prudential Financial, Inc. Non-Employee Director Compensation Summary (Effective April 1, 2005)
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Summary
This document outlines the compensation plan for non-employee directors of Prudential Financial, Inc. Each director receives a one-time grant of $100,000 in company stock units deferred until retirement, an annual retainer of $160,000 (half of which is automatically deferred in stock units), and additional retainers for committee roles. Committee chairpersons and members receive extra annual payments, and certain committee meetings pay per meeting. The plan specifies how and when compensation is paid, primarily through deferred stock units and cash retainers.
EX-10.11 2 dex1011.htm PRUDENTIAL FINANCIAL, INC. NON-EMPLOYEE DIRECTOR COMPENSATION SUMMARY Prudential Financial, Inc. Non-Employee Director Compensation Summary
EXHIBIT 10.11
Prudential Financial, Inc. Non-Employee Director Compensation Summary
(As adopted on March 8, 2005, effective April 1, 2005)
| Upon becoming a director, each non-employee director (a Director) receives a one-time grant of $100,000 in Prudential Financial stock units that are deferred until retirement from the Board. |
| Each Director receives an annual retainer of $160,000, of which 50% is automatically deferred in units of Prudential Financial stock payable upon retirement under The Prudential Deferred Compensation Plan for Non-Employee Directors. The remaining 50% may be deferred at the Directors option. |
| All Committee Chairpersons receive an additional $10,000 retainer. |
| Audit Committee members receive an annual committee retainer of $15,000. |
| Members of the Finance, Investment, Compensation and Corporate Governance and Business Ethics Committees receive an annual committee retainer of $5,000. |
| There are no meeting fees, other than fees for attending meetings of the Community Resources Committee (which generally meets on a day separate from Board meetings). Members of this committee receive $1,250 per meeting. |