TravelCenters of America LLC Director Compensation Summary
This document outlines the compensation structure for directors of TravelCenters of America LLC. Independent directors receive an annual retainer of $40,000, meeting fees of $1,250 per day (up to $2,500 per day for multiple meetings), and an annual grant of 9,000 shares. Additional annual fees are provided to committee chairs: $20,000 for Audit, $10,000 for Nominating and Governance, and $10,000 for Compensation. The company also reimburses directors for travel and certain education-related expenses incurred in their official duties.
Exhibit 10.2
TravelCenters of America LLC
Summary of Director Compensation
| Annual Retainer for Independent Directors: |
| $40,000 |
|
|
|
|
| Meeting Fees for Independent Directors: |
| $1,250 per day per board or committee meeting, with a maximum fee of $2,500 for any one day with multiple board and committee meetings |
|
|
|
|
| Share Grants for all Directors: |
| 9,000 annually to be granted on the day of the first board meeting following the Annual Meeting of Shareholders (or, for Directors who are first elected or appointed at other times, on the day of the first board meeting attended) |
|
|
|
|
| Chair of the Audit Committee: |
| $20,000 per year |
|
|
|
|
| Chair of the Nominating and Governance Committee: |
| $10,000 per year |
|
|
|
|
| Chair of the Compensation Committee: |
| $10,000 per year |
The Company generally reimburses all Directors for travel expenses incurred in connection with their duties as Directors and for out of pocket costs incurred in connection with their attending certain continuing education programs.
