Summary of Director Compensation for Fiscal 2008 – Tredegar Corporation
This document outlines the compensation structure for non-employee directors of Tredegar Corporation for fiscal year 2008. Directors receive annual retainers, paid quarterly, instead of meeting fees. Compensation includes a mix of cash and stock awards, with specific amounts for roles such as Chairman, committee chairs, and committee members. The stock portion is valued based on the market price at the time of grant. The policy applies only to directors who are not employees of Tredegar or its subsidiaries.
Exhibit 10.18
Summary of Director Compensation for Fiscal 2008
At its June 2007 meeting, the Nominating and Governance Committee eliminated all meeting fees and established an all retainer method of compensation. Each member of the Board of Directors who is not an employee of Tredegar or any of its subsidiaries receives the following annual retainers, payable in equal quarterly installments in arrears:
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| Non-Employee Director |
| $ | 50,000 |
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| Chairman of the Board |
| $ | 20,000 |
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| Audit Committee Chairperson |
| $ | 14,000 |
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| Non-Chair Member of the Audit Committee |
| $ | 7,500 |
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| Executive Compensation Committee Chairperson |
| $ | 9,000 |
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| Non-Chair Member of the Executive Compensation Committee |
| $ | 5,000 |
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| Nominating and Governance Committee Chairperson |
| $ | 6,000 |
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| Non-Chair Member of the Nominating and Governance Committee |
| $ | 3,000 |
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| Member of the Executive Committee |
| $ | 4,500 |
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| Member of the Investment Policy Committee |
| $ | 625 |
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The retainer paid to non-employee directors is paid $30,000 in cash and $20,000 in the form of a stock award. The stock award is determined based on the closing price of Tredegar common stock as reported on the New York Stock Exchange composite on the date of grant.
