2014 Non-Management Director Compensation Summary for [Company Name]
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Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2015. Directors receive an annual stock retainer of $75,000 (paid quarterly in company stock) and an annual cash retainer of $45,000 (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 Lead Non-Management Director. Directors are also reimbursed for reasonable travel expenses related to meetings.
EX-10.15 2 ex1015directorcomp2014.htm EXHIBIT 10.15 - DIRECTOR COMPENSATION 2014 Ex10.15 DirectorComp2014
Exhibit 10.15
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2015
Function | Amount Paid | Form of Payment | ||
Annual Stock Retainer | $75,000 annually | Payable in quarterly increments in shares of company common stock at its fair market value | ||
Annual Cash Retainer | $45,000 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 | ||
