Summary of Non-Employee Director Compensation for The Southern Company Board

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Summary

This document outlines the compensation structure for non-employee directors of The Southern Company. Non-employee directors receive an annual retainer of $175,000, with $90,000 deferred in company stock until their Board service ends. Additional annual retainers of $12,500 are provided for serving as Chair of a Board committee or as Presiding Director. Directors may also receive $2,500 per Board meeting if more than eight meetings are held in a year. Directors can choose to defer all compensation until their Board service concludes. There is no pension plan for non-employee directors.

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EX-10.A.26 8 x10a26.htm

Exhibit 10(a)26

 

 

SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION

 

THE SOUTHERN COMPANY

 

Only non-employee directors are compensated for service on the Board of Directors (the "Board") of The Southern Company (the "Company"). The pay components are as follows:

 

Annual Retainers:

 

•

$175,000 of which $90,000 is deferred in shares of Company common stock until Board membership ends;

•

$12,500 if serving as Chair of a standing Board committee; and

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$12,500 if serving as the Presiding Director

 

 

Meeting Fees:

 

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$2,500 for participation in a meeting of the Board, if the number of meetings exceeds eight annually

 

Directors may elect to defer up to 100 percent of their compensation until membership on the Board ends. There is no pension plan for non-employee Directors.