Royal Caribbean Cruises Ltd. Board of Director Compensation Schedule (2015)
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Summary
Royal Caribbean Cruises Ltd. outlines the compensation for its non-employee Board members for the 2015 fiscal year. Directors receive annual cash retainers based on their roles, such as $80,000 for Board membership and additional amounts for committee positions. At the Board's discretion, each non-employee director may also receive an annual equity award valued at $120,000 in restricted stock units, which vest immediately but are delivered after one year. Board members are also eligible for cruise benefits as per company policy.
EX-10.37 5 rcl-20141231xex1037.htm EXHIBIT 10.37 RCL-2014.12.31-EX10.37
Exhibit 10.37
ROYAL CARIBBEAN CRUISES LTD.
BOARD OF DIRECTOR COMPENSATION SCHEDULE
EFFECTIVE FOR 2015 FISCAL YEAR
Cash Compensation
Non-employee members of the Board of Directors are entitled to receive cash fees as follows:
Cash Compensation | Amount | |
Annual Board Retainer | $80,000 | |
Annual Lead Director Retainer | 50,000 | |
Annual Audit Committee Chairman Retainer | 30,000 | |
Annual Audit Committee Member Retainer | 20,000 | |
Annual Compensation Committee Chairman Retainer | 20,000 | |
Annual Compensation Committee Member Retainer | 10,000 | |
Annual Committee Chairman Retainer (All Other Committees) | 10,000 | |
Annual Committee Member Retainer (All Other Committees) | 7,500 | |
Equity Compensation
At the discretion of the Board, each non-employee director is eligible to receive an annual grant of equity awards with an aggregate value on the date of grant equal to $120,000. The entire amount of the award is payable in restricted stock units which fully vest on the date of grant. Shares of our common stock underlying the restricted stock units are deliverable one year after the grant date independent of whether the director holding the restricted stock units continues to serve as a Board member as of the share delivery date.
Cruise Benefits
The Company provides Board members with certain cruise benefits in accordance with the Company’s Board Member Cruise Policy.
