Summary of Director and Executive Officer Compensation Arrangements
Contract Categories:
Human Resources
- Compensation Agreements
EX-10.29 2 aoi-2012x0331ex1029.htm EXHIBIT 10.29 AOI-2012-03.31EX10.29
Exhibit 10.29
Summary of Director and Executive Officer Compensation Arrangements
In addition to the compensation arrangements filed as other exhibits to this annual report, Alliance One International, Inc. (the “Company”) has the following compensation arrangements with its directors and named executive officers.
Compensation Arrangements for Directors
Directors who are employees of the Company or its subsidiaries or who serve as paid consultants to the Company are not compensated for their services as director. Non-employee directors receive an annual cash retainer paid in quarterly installments. As of June 1, 2012, such retainer payments were based on the following schedule:
Type of Service | Annual Retainer |
Board Member | $50,000 |
Lead Independent Director | + $10,000 |
Audit Committee Member | + $12,000 |
Audit Committee Chair | + $10,000 |
Executive Committee Member | + $ 3,000 |
Executive Committee Chair | + $ 5,000 |
Executive Compensation Committee Member | + $12,000 |
Executive Compensation Committee Chair | + $ 7,500 |
Governance & Nominating Committee Member | + $ 7,500 |
Governance & Nominating Committee Chair | + $ 5,000 |
Compensation Arrangements for Named Executive Officers
The board of directors sets the annual base salary for each of the Company's chief executive officer, chief financial officer and its three other most highly compensated executive officers, based on fiscal 2012 total compensation (such five officers, the “named executive officers”). As of June 1, 2012, the annual base salary rates for the named executive officers were as follows:
Named Executive Officer | Base Salary | ||
Mark W. Kehaya (1) | $ | 544,500 | |
Robert A. Sheets | 425,000 | ||
J. Pieter Sikkel | 425,000 | ||
J. Henry Denny | 350,000 | ||
William L. O'Quinn | 275,000 | ||
(1) Mr. Kehaya was named Chairman and Interim Chief Executive Officer effective December 14, 2010. In connection with Mr. Kehaya's service as Interim Chief Executive Officer, the Company has entered into a consulting agreement with Meriturn Partners, LLC and Mr. Kehaya as a consultant and interim Chief Executive Officer. Mr. Kehaya is a partner with Meriturn. Per the consulting agreement, the Company has agreed to pay Meriturn $45,375 per month for Mr. Kehaya's services.
