Non-Employee Director Compensation Summary(1)
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EX-10.5 6 exh10-5_14069.htm NON-EMPLOYEE DIRECTOR COMPENSATION SUMMARY WWW.EXFILE.COM, INC. -- 14069 -- SCHNITZER STEEL INDUSTRIES, INC. -- EXHIBIT 10.5 TO FORM 10-Q
EXHIBIT 10.5
Non-Employee Director Compensation Summary (1)
The following is a summary of the compensation provided to our non-employee directors effective as of September 1, 2005.
| Annual fee for all non-employee directors | | $ 35,000 | ||
| Board meeting and Board committee meeting fees (where committee meeting held other than on the same day as a meeting of the Board) | | $ 1,200 | ||
| Chairperson retainer – Audit Committee | | $ 5,000 | ||
| Chairperson retainer – Compensation committee | | $ 5,000 | ||
| Chairperson retainer – Nominating and Corporate Governance Committee | | $ 5,000 | ||
| Annual grant of restricted Class A common stock to all non-employee directors | | $ 87,500 |
(1) The Chairman of the Board may receive additional compensation as determined by the Compensation Committee.
