TRICO MARINE SERVICES, INC. Board and Committee Compensation

Contract Categories: Human Resources - Compensation Agreements
EX-10.10 16 dex1010.htm SCHEDULE OF DIRECTOR COMPENSATION ARRANGEMENTS Schedule of Director Compensation Arrangements

Exhibit 10.10

 

 

TRICO MARINE SERVICES, INC.

 

Board and Committee Compensation

 

   

All Directors Except
Chairman

  

Chairman of the Board

  

Chairman of Audit

  

Chairman of
Nominating &
Corporate Governance

  

Chairman of
Compensation

Fees:

   $25,000 per year payable quarterly in advance (4 installments of $6,250 each)   $20,000 per month payable monthly in advance   $20,000 per year payable quarterly in advance (4 installments of $5,000 each)   $5,000 per year payable quarterly in advance (4 installments of $1,250 each)   $5,000 per year payable quarterly in advance (4 installments of $1,250 each)

 

Meeting fees: $1,500 per meeting, including committee meetings and telephonic attendance

 

Initial Share Grant: 5,000 restricted shares for initial grant on Effective Date of bankruptcy exit

 

Annual Share/Option Grant: to be determined from time to time by the Board of Directors for award, concurrent with the annual shareholder’s meeting, for the Chairman of the Board and the other non-management directors

 

International Travel: international travel to and from board and committee meetings (for committee members) occurring on or about the same dates will be compensated as a single additional meeting