2008 Non-Employee Director Compensation Schedule for Board Members

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the 2008 compensation arrangements for non-employee directors of the company, effective April 29, 2008. Directors receive an annual cash retainer of $65,000, with additional retainers for committee chairs. Each non-employee director is also granted a restricted stock award valued at $100,000, with restrictions expiring 30 days after the grant date. The arrangement specifies the compensation structure and equity awards for named directors.

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EX-10.41 12 h66065exv10w41.htm EX-10.41 exv10w41
Exhibit 10.41
Schedule of Director Compensation Arrangements
Board Compensation for 2008 (effective April 29, 2008):
Non-Employee Director Cash Compensation:
         
2007
Annual Retainer
   $ 65,000  
Chair of Audit Committee Annual Retainer
   $ 10,000  
Chair of Compensation & Nominating and Governance Committee Annual Retainer
   $ 5,000  
Non-Employee Director Equity Awards:
     
Director   Restricted Stock Award(1)
Ben Guill
   2,690
Richard A. Bachmann
   2,690
Kenneth M. Burke
   2,690
Edward C. Hutcheson, Jr.
   2,690
Myles W. (Bill) Scoggins
   2,690
Per Staehr
   2,690
 
(1)   Equity awards granted on April 29, 2008 with a fair market value of $37.17 (closing price as of April 29, 2008). Awards are intended to reflect equity in the amount of $100,000 per director. Restrictions lapse 30 days from the date of grant — May 28, 2008.