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 chairs and members of the Audit, Compensation, and Nominating & Governance Committees. The agreement ensures directors are compensated for their service and participation in board and committee activities.
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 |
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 |
