Summary of Non-Management Director Compensation as of January 1, 2020

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