Summary of Non-Management Director Compensation as of January 1, 2021

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 annuallyPayable in cash in quarterly increments
Compensation Committee Members Meeting Fee$10,000 annuallyPayable 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 annuallyPayable in cash in quarterly increments
Nominating & Governance Committee Chair Meeting Fee$15,000 annuallyPayable in cash in quarterly increments
Independent Chairman of the Board $75,000 annually Payable in cash in quarterly increments