Annual Director Compensation
EX-10.11 2 a2016exhibit1011-annualdir.htm EXHIBIT 10.11 Wdesk | Exhibit
Exhibit 10.11
Annual Director Compensation
Annual Retainers:
Each non-employee director: | $ | 50,000 | |
Chairman of the Board | 125,000 | ||
Chairperson of the Audit Committee: | 16,000 | ||
Other Audit Committee Members: | 9,000 | ||
Chairperson of the Compensation Committee: | 12,000 | ||
Other Compensation Committee Members: | 6,000 | ||
Chairperson of the Nominating/Corporate Governance Committee: | 8,000 | ||
Other Nominating/Corporate Governance Committee Members: | 6,000 | ||
Chairperson of the Finance Committee: | 8,000 | ||
Other Finance Committee Members: | 6,000 | ||
All retainers are payable in cash, in four equal installments on the first day of each fiscal quarter.
Meeting Fees:
Non-employee directors each receive $2,500 for each Board of Directors meeting attended in person and are reimbursed for their expenses in attending such meetings.
Equity Award:
Annually, each director shall receive a deferred stock award pursuant to the 2016 Long-Term Incentive Plan, consisting of the right to receive shares of Rent-A-Center common stock. The award shall be valued at $100,000 and be fully vested upon issuance. The shares covered by the award will be issued upon the termination of the director’s service as a member of the Board.
