Phillips-Van Heusen Corporation Schedule of Non-Management Directors’ Fees (Effective June 25, 2009)
This document outlines the compensation structure for non-management directors of Phillips-Van Heusen Corporation, effective June 25, 2009. It specifies annual retainers, meeting fees (with different rates for in-person and telephonic participation), and additional fees for committee chairs and the presiding director. Directors also receive an annual equity award in the form of restricted stock units valued at approximately $100,000. The schedule details compensation for service on the Board and its various committees, including Audit, Compensation, Nominating & Governance, and Corporate Social Responsibility Committees.
Exhibit 10.5
PHILLIPS-VAN HEUSEN CORPORATION
SCHEDULE OF NON-MANAGEMENT DIRECTORS’ FEES
EFFECTIVE JUNE 25, 2009
BOARD
Annual retainer | $40,000 | |
Meeting fee | $2,000 | If attended in person Plus expenses |
$1,000 | If telephonic or director participates by phone | |
Equity Award – Restricted Stock Units | $100,000 | This award is targeted to equal the number of restricted stock units with a value of approximately $100,000 as of the date of grant and with rounding to a number of restricted stock units that is divisible by four (to reflect the four vesting dates of the award). |
Presiding director fee | $15,000 |
AUDIT COMMITTEE
Fee to chair | $10,000 | |
Meeting fee | $2,500 | If attended in person Plus expenses |
$1,250 | If telephonic or director participates by phone |
COMPENSATION COMMITTEE
Fee to chair | $5,000 | |
Meeting fee | $1,500 | If attended in person Plus expenses |
$750 | If telephonic or director participates by phone |
NOMINATING & GOVERNANCE COMMITTEE
Fee to chair | $5,000 | |
Meeting fee | $1,500 | If attended in person Plus expenses |
$750 | If telephonic or director participates by phone |
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
Fee to chair | $5,000 | |
Meeting fee | $1,500 | If attended in person Plus expenses |
$750 | If telephonic or director participates by phone |
