ROYAL CARIBBEAN CRUISES LTD. BOARD OF DIRECTOR COMPENSATION SCHEDULE EFFECTIVE FOR 2013 FISCAL YEAR
Exhibit 10.3
ROYAL CARIBBEAN CRUISES LTD.
BOARD OF DIRECTOR COMPENSATION SCHEDULE
EFFECTIVE FOR 2013 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 |
| $ | 60,000 |
|
| Annual Lead Director Retainer |
| 50,000 |
| |
| Annual Audit Committee Chairman Retainer |
| 30,000 |
| |
| Annual Audit Committee Member Retainer |
| 15,000 |
| |
| Annual Compensation Committee Chairman Retainer |
| 15,000 |
| |
| Annual Committee Chairman Retainer (All Other Committees) |
| 6,000 |
| |
| Annual Committee Member Retainer (All Other Committees) |
| 5,000 |
| |
| Board Per Meeting Fees |
| 1,200 |
| |
| Committee Per Meeting Fees (All Committees) |
| 1,200 |
| |
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.
