Sears Holdings Corporation Director Compensation Program (Effective March 24, 2005)
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Summary
This agreement outlines the compensation program for non-employee directors of Sears Holdings Corporation, effective March 24, 2005. Non-employee directors receive an annual cash retainer of $40,000, with the chairperson of the Audit Committee receiving an additional $10,000 per year. No other additional compensation is provided for Board service. All directors are reimbursed for out-of-pocket expenses related to attending Board and committee meetings.
EX-10.B 3 c98500exv10wb.htm DIRECTOR COMPENSATION PROGRAM exv10wb
Exhibit 10(b)
SEARS HOLDINGS CORPORATION
Director Compensation Program
Effective as of March 24, 2005
Effective as of March 24, 2005
| • | Only non-employee directors will be compensated for serving as directors of the Company | |
| • | Each non-employee director will receive an annual cash retainer of $40,000 | |
| • | The chairperson of the Audit Committee of the Board of Directors will receive an additional annual cash retainer of $10,000 | |
| • | No other director will receive additional compensation for Board service | |
| • | All directors will be reimbursed for out-of-pocket expenses incurred to attend meetings of the Board of Directors and committees of the Board of Directors |
