SUMMARY OF COMPENSATION FOR THE BOARD OF TRUSTEES OF RAMCO-GERSHENSON PROPERTIES TRUST
EX-10.1 2 k49239exv10w1.htm EX-10.1 exv10w1
EXHIBIT 10.1
SUMMARY OF COMPENSATION FOR THE BOARD OF TRUSTEES
OF RAMCO-GERSHENSON PROPERTIES TRUST
OF RAMCO-GERSHENSON PROPERTIES TRUST
| Annual cash retainer (paid quarterly): | $ | 15,000 | ||
| Additional cash retainer: | ||||
| Chairman | 100,000 | |||
| Audit Committee chair(1) | 10,000 | |||
| Audit Committee members(1) | 5,000 | |||
| Executive Committee members(1) | 2,500 | |||
| Attendance fees per Board meeting: | ||||
| In person | 1,500 | |||
| Via telephone | 500 | |||
| Annual equity retainer (shares of restricted stock)(2) | 2,000 |
| (1) | Payment is subject to attendance by the Trustee at 75% or more of the applicable committee meetings during the applicable calendar 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.
Trustees who are employees or officers of the Trust or any of its subsidiaries do not receive any compensation for serving on the Board of Trustees or any committees thereof.
