Summary of Non-Management Director Compensation as of January 1, 2021
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Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2021. Directors receive an annual stock retainer of $95,000 in company shares and an annual cash retainer of $70,000, both paid quarterly. Additional annual cash fees are provided for service on the Audit, Compensation, and Nominating & Governance Committees, with higher amounts for committee chairs. The Independent Chairman of the Board receives an extra $75,000 annually, also paid quarterly.
EX-10.9 3 ex109directorscomp2020.htm EX-10.9 DIRECTORS COMPENSATION Document
Exhibit 10.9
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2021
| Function | Amount Paid | Form of Payment | ||||||||||||
| Annual Stock Retainer | $95,000 annually | Payable in quarterly increments in shares of company common stock at its fair market value | ||||||||||||
| Annual Cash Retainer | $70,000 annually | Payable in cash in quarterly increments | ||||||||||||
| Audit Committee Members Meeting Fee | $15,000 annually | Payable in cash in quarterly increments | ||||||||||||
| Audit Committee Chair Meeting Fee | $30,000 annually | Payable in cash in quarterly increments | ||||||||||||
| Compensation Committee Members Meeting Fee | $10,000 annually | Payable in cash in quarterly increments | ||||||||||||
| Compensation Committee Chair Meeting Fee | $20,000 annually | Payable in cash in quarterly increments | ||||||||||||
| Nominating & Governance Committee Members Meeting Fee | $10,000 annually | Payable in cash in quarterly increments | ||||||||||||
| Nominating & Governance Committee Chair Meeting Fee | $15,000 annually | Payable in cash in quarterly increments | ||||||||||||
| Independent Chairman of the Board | $75,000 annually | Payable in cash in quarterly increments | ||||||||||||
