The RMR Group Inc. Summary of Director Compensation
The RMR Group Inc. outlines its compensation policy for its Independent Directors. Each Independent Director receives an annual fee of $40,000, plus $1,000 per day for attending Board or Committee meetings, with a daily cap of $2,000. Committee chairs receive additional annual fees: $12,500 for the audit committee, and $7,500 each for the compensation and nominating and governance committees. Independent Directors are also granted 2,500 shares of Class A common stock annually and are reimbursed for travel and certain educational expenses related to their duties.
Exhibit 10.2
THE RMR GROUP INC.
Summary of Director Compensation
The following is a summary of the currently effective compensation of the Directors of The RMR Group Inc. (the “Company”) for services as Directors, which is subject to modification at any time by the Board of Directors:
· Each Independent Director receives an annual fee of $40,000, plus a fee of $1,000 per day per Board or Committee meeting, with a maximum fee of $2,000 for any one day with multiple Board and Committee meetings.
· The chairs of the audit committee, the compensation committee and the nominating and governance committee, receive an additional annual fee of $12,500, $7,500 and $7,500, respectively.
· Each Independent Director receives a grant of 2,500 of the Company’s shares of Class A common stock on the date of the first Board meeting following each annual meeting of shareholders (or, for Directors who are first elected or appointed at other times, on the day of the first Board meeting attended).
· The Company generally reimburses all Directors for travel expenses incurred in connection with their duties as Directors and for out of pocket costs incurred from their attending certain continuing education programs.
