Range Resources Non-Employee Director Compensation Summary (2006-2007)

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation for non-employee directors of Range Resources Corporation for the 2006-2007 period. Non-employee directors, except the Chairman, receive a $40,000 annual cash retainer, $1,000 per meeting attended, 12,000 stock appreciation rights, and 2,500 deferred shares of common stock. The non-employee Chairman receives a $135,000 annual cash retainer, the same meeting fees, stock appreciation rights, and deferred shares. Compensation is paid quarterly, and awards are fully vested. The plan is governed by the company's existing stock option and deferred compensation plans.

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EX-10.1 2 d37058exv10w1.htm NON-EMPLOYEE DIRECTOR COMPENSATION SUMMARY exv10w1  

Exhibit 10.1
Non-Employee Director Compensation Summary
     For the 2006-2007 period, each non-employee director of Range Resources corporation (the “Company”), other than the Chairman of the Board of Directors (the“Board”), shall receive the following compensation.
     1.  Cash retainer fee of $40,000 per year, payable quarterly.
     2.   Meeting Fees of $1,000 for each Board meeting or meeting of a committee thereof, attended either in person or by telephone.
     3.   An award of 12,000 fully vested stock appreciation rights under the Company’s 2004 Non-Employee Director Stock Option Plan, at a price of $24.33 per share.
     4.   A grant of 2,500 fully vested unregistered deferred shares of common stock, at a price of $24.33 per share, to be placed in such director’s account under the Company’s Deferred Compensation Plan for Directors and Select Employees.
      For the 2006-2007 period, the non-employee Chairman of the Board Shall receive the following compensation:
     1.   Cash retainer and fee of $135,000 per year payable quarterly in cash.
     2.   Meeting Fees of $1,000 for each Board meeting or meeting of a committee thereof, attended either in person or by telephone.
     3.   An award of 12,000 fully vested stock appreciation rights under the Company’s 2004 Non-Employee Director Stock Option Plan at a price of $24.33 per share.
     4.   A grant of 2,500 fully vested unregistered deferred shares of common stock, at a price of $24.33 per share, to be placed in such director’s account under the Company’s Deferred Compensation Plan for Directors and Select Employees.