Summary of Non-Management Director Compensation as of January 1, 2022
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Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2022. Directors receive an annual stock retainer of $95,000 paid in company shares, and an annual cash retainer of $70,000, both paid quarterly. Additional annual cash fees are provided for service on various board committees and for serving as committee chairs, also paid quarterly. The Independent Chairman of the Board receives an extra $75,000 annually. The agreement specifies the amounts, payment forms, and frequency for each compensation component.
EX-10.9 3 ex109directorscomp2021.htm EX-10.9 Document
Exhibit 10.9
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2022
| 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 | ||||||||||||
