St. John Knits International, Inc. Non-Employee Director Compensation Policy
St. John Knits International, Inc. provides compensation to its non-employee directors, excluding those with salaried positions at the company or Vestar Capital Partners. Eligible directors receive a $40,000 annual retainer, plus fees for attending board meetings—$2,500 for in-person attendance and $500 for telephonic participation. The Board may also grant stock options at its discretion. Directors are reimbursed for travel and other expenses related to meeting attendance.
Exhibit 10.16
ST. JOHN KNITS INTERNATIONAL, INCORPORATED
WRITTEN DESCRIPTION OF NON-EMPLOYEE DIRECTOR COMPENSATION
PURSUANT TO
ITEM 601(b)(10)(iii)(A) OF REGULATION S-K
Each director who does not hold a salaried position with St. John Knits International, Incorporated or with Vestar Capital Partners, absent an agreement to the contrary, shall receive an annual retainer of $40,000, in addition to an attendance fee of $2,500 for each meeting of the Board of Directors attended personally and $500 for each meeting of the Board and committee of the Board attended telephonically. Such directors may also be granted stock options at the discretion of the Board. Directors shall be reimbursed for travel and other out-of-pocket expenses incurred by them that are incidental to attending meetings.
