SUMMARY OF COMPENSATION FORTHE BOARD OF TRUSTEES OFRAMCO-GERSHENSON PROPERTIES TRUST The following table sets forth the compensation program for non-employee Trustees Annual cash retainer (1)$30,000Additional cash retainer:Chairman100,000Audit Committee chair7,500Compensation Committee chair5,000Nominating and Governance Committee chair5,000Executive Committee chair2,500Executive Committee members-Annual equity retainer (value of shares of restricted stock) (2)50,000
EX-10.9 3 a50182260ex10-9.htm EXHIBIT 10.9 a50182260ex10-9.htm
Exhibit 10.9
| SUMMARY OF COMPENSATION FOR | |
| THE BOARD OF TRUSTEES OF | |
| RAMCO-GERSHENSON PROPERTIES TRUST |
| The following table sets forth the compensation program for non-employee Trustees | ||||
| | ||||
| Annual cash retainer (1) | $ | 30,000 | | |
| Additional cash retainer: | ||||
| Chairman | 100,000 | |||
| Audit Committee chair | 7,500 | |||
| Compensation Committee chair | 5,000 | |||
| Nominating and Governance Committee chair | 5,000 | |||
| Executive Committee chair | 2,500 | |||
| Executive Committee members | - | |||
| Annual equity retainer (value of shares of restricted stock) (2) | 50,000 | |||
| (1) | The annual cash retainer is equal to $80,000 less the grant date fair value, which approximates $50,000, of the restricted stock granted in the applicable year. | ||
| (2) | Grants are made under the Trust's 2008 Restricted Share Plan for Non-Employee Trustees. The shares of restricted stock vest over three years. The grant is made on June 30th or, if not a business day, the business day prior to June 30th. During 2011, 4,039 shares were granted per Trustee. | ||
The Trust also reimburses all Trustees for all expenses incurred in connection with attending any meetings or performing their duties as Trustees.
