Summary of Non-Management Director Compensation as of January 1, 2014
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Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2014. Directors receive an annual stock retainer of $75,000 in company shares and a $45,000 annual cash retainer, both paid quarterly. Additional annual cash fees are provided for committee membership and chair roles, as well as for the lead non-management director. Directors are also reimbursed for reasonable travel expenses. The agreement specifies the amounts, payment forms, and frequency for each compensation component.
EX-10.15 4 ex1015directorcomp2013.htm EXHIBIT Ex1015 DirectorComp2013
Exhibit 10.15
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2014
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 | ||
