Summary of Non-Management Director Compensation as of January 1, 2018
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Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2018. Directors receive an annual stock retainer of $85,000 paid in company shares, and an annual cash retainer of $60,000, both paid quarterly. Additional annual cash fees are provided for service on or chairing the Audit, Compensation, and Nominating & Governance Committees, as well as for the Independent Chairman of the Board. All payments are made in quarterly increments, either in cash or company stock.
EX-10.9 2 ex109directorscomp2017.htm EXHIBIT 10.9 SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION Exhibit
Exhibit 10.9
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2018
Function | Amount Paid | Form of Payment | ||
Annual Stock Retainer | $85,000 annually | Payable in quarterly increments in shares of company common stock at its fair market value | ||
Annual Cash Retainer | $60,000 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 | ||
