Summary of Non-Management Director Compensation as of January 1, 2017
Contract Categories:
Human Resources
›
Compensation Agreements
Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2017. Directors receive an annual stock retainer of $80,000 and a cash retainer of $60,000, both paid quarterly. Additional annual fees are provided for serving on or chairing the Audit, Compensation, and Nominating & Governance Committees, as well as for the Lead Non-Management Director role. All payments are made in cash or company stock, and reasonable travel expenses are reimbursed. The agreement specifies the amounts and payment forms for each role.
EX-10.15 2 ex1015directorscomp2016.htm EXHIBIT 10.15 - DIRECTOR COMPENSATION Exhibit
Exhibit 10.15
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2017
Function | Amount Paid | Form of Payment | ||
Annual Stock Retainer | $80,000 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 | ||
Lead-Non Management Director Fee | $20,000 annually | Payable in cash in quarterly increments | ||
Meeting Travel Expenses | Reasonable and actual | Cash reimbursement | ||
