Annual Director Compensation
Exhibit 10.11
Annual Director Compensation
| Annual Retainers: | ||||
| Each non-employee director: | $ | 40,000 | ||
| Lead Director | 20,000 | |||
| 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 |
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 2006 Long-Term Incentive Plan, consisting of the right to receive shares of Rent-A-Center common stock. The award shall be fully vested upon issuance and the shares covered by the award will be issued upon the termination of the director’s service as a member of the Board. With respect to the 2012 fiscal year, such award shall be made effective as of January 2, 2012 and shall be valued at $85,000.
