Phillips-Van Heusen Corporation Schedule of Non-Management Directors’ Fees Effective June 19, 2008
This document outlines the compensation structure for non-management directors of Phillips-Van Heusen Corporation, effective June 19, 2008. It details 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 specified for directors serving as presiding director or as committee chairs, with separate rates for the Audit, Compensation, and Nominating & Governance Committees. The agreement ensures directors are compensated for their service and participation in board and committee activities.
EXHIBIT 10.6
PHILLIPS-VAN HEUSEN CORPORATION
SCHEDULE OF NON-MANAGEMENT DIRECTORS’ FEES
EFFECTIVE JUNE 19, 2008
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 | $120,000 | This award is targeted to equal the number of restricted stock units with a value of $120,000, rounded up 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 |
