SUMMARY OF COMPENSATION FOR THE BOARD OF TRUSTEES OF RAMCO-GERSHENSON PROPERTIES TRUST
EX-10.9 2 a6631679ex10_9.htm EXHIBIT 10.9 a6631679ex10_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 (paid quarterly): | $ | (1 | ) | |
| 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 (shares of restricted stock)(2) | 2,000 |
| | __________ |
| (1) | The annual cash retainer is equal to $80,000 less the grant date fair value 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. |
The Trust also reimburses all Trustees for all expenses incurred in connection with attending any meetings or performing their duties as Trustees.
