Description of Non-Employee Director Compensation Changes (2014-2015)
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Summary
This document outlines changes to the annual fees paid to non-employee directors serving as committee chairs for the 2014-2015 term. The Audit Committee Chair fee increases from $10,000 to $15,000, the Compensation Committee Chair fee rises from $5,000 to $10,000, and the fees for chairs of two other committees increase from $5,000 to $7,500. All other compensation for non-employee directors remains the same.
EX-10.7 7 ste06302014ex107.htm EXHIBIT STE 06.30.2014 EX 10.7
Exhibit 10.7
DESCRIPTION OF NON-EMPLOYEE
DIRECTOR COMPENSATION CHANGES
The annual Committee Chair fees have been changed beginning with the Directors’ 2014-2015 terms of office as follows: The fee for serving as Audit Committee Chair has been increased from $10,000 to $15,000; the fee for serving as Compensation Committee Chair has been increased from $5,000 to $10,000; and the fees for serving as Chairs of the other two Committees have been increased from $5,000 to $7,500. The other fees payable to Non-Employee Directors remain unchanged.
