Phillips-Van Heusen Corporation Schedule of Non-Management Directors’ Fees Effective June 19, 2007
This document outlines the compensation structure for non-management directors of Phillips-Van Heusen Corporation, effective June 19, 2007. It specifies annual retainers, meeting fees (with different rates for in-person and telephonic participation), and equity awards in the form of restricted stock units. Additional fees are detailed for presiding directors and committee chairs, including the Audit, Compensation, and Nominating & Governance Committees. The schedule also notes that certain fees are retroactive to the effective date.
Exhibit 10.2
PHILLIPS-VAN HEUSEN CORPORATION
SCHEDULE OF NON-MANAGEMENT DIRECTORS’ FEES
EFFECTIVE JUNE 19, 2007
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 | 2,000 shares | |
Presiding director fee* | $15,000 |
* This fee, which is in addition to all the foregoing and any applicable amounts for Committee service, was approved on September 27, 2007 and is retroactive to June 19, 2007.
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 |
