Rent-A-Center, Inc. Summary of Director Compensation
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document outlines the compensation structure for non-employee directors of Rent-A-Center, Inc. Directors receive annual cash retainers, additional retainers for committee chairs and members, and meeting fees. They are also granted restricted stock units each year, which vest upon retirement. All payments are made quarterly, and directors are reimbursed for meeting expenses.
EX-10.13 2 d66311exv10w13.htm EX-10.13 exv10w13
Exhibit 10.13
Rent-A-Center, Inc.
Summary of Director Compensation
Summary of Director Compensation
Annual Retainers:
Non-employee directors each receive an annual retainer of $40,000. In addition, the chairperson of the Audit Committee receives an annual retainer of $10,000, and the chairpersons of each of the Compensation Committee and the Nominating and Corporate Governance Committee receives an annual retainer of $6,000. Members of the Audit Committee other than the chairperson receive an annual retainer of $7,000, and members of each of the Compensation Committee and the Nominating and Corporate Governance Committee receive an annual retainer of $5,000. 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 Awards:
Non-employee directors shall receive an annual award of restricted stock units valued at $50,000, on the first business day of each fiscal year. These restricted stock units vest upon a director’s retirement.
