Royal Caribbean Cruises Ltd. Board of Directors Compensation Schedule (2011)
This document outlines the compensation for non-employee members of the Royal Caribbean Cruises Ltd. Board of Directors for the 2011 fiscal year. It details annual cash retainers, meeting fees, and additional compensation for committee roles. Non-employee directors are also eligible for annual equity awards in the form of restricted stock units, which vest immediately but are delivered after one year. Additionally, board members receive cruise benefits as per company policy.
Exhibit 10.29
ROYAL CARIBBEAN CRUISES LTD.
BOARD OF DIRECTOR COMPENSATION SCHEDULE
EFFECTIVE FOR 2011 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 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. Commencing in 2011, 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.
