Summary of Non-Management Director Compensation as of January 1, 2020
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Summary
This document outlines the compensation structure for non-management directors of the company as of January 1, 2020. Directors receive annual retainers and committee fees, paid quarterly in cash or company stock, depending on the role. Compensation includes stock and cash retainers, as well as additional fees for committee membership, chair positions, and the independent chairman of the board. The agreement specifies the amounts and payment forms for each position, ensuring transparency in director compensation.
EX-10.9 2 ex109directorscomp2019.htm EXHIBIT 10.9 SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION Exhibit
Exhibit 10.9
SUMMARY OF NON-MANAGEMENT DIRECTOR COMPENSATION
As of January 1, 2020
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 | ||
