UDR, Inc. Independent Director Compensation Schedule

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for independent directors of UDR, Inc. Non-executive directors receive an annual retainer of $50,000, while the non-executive chairman receives $100,000. Additional annual retainers are provided for committee members and chairmen, with amounts varying by committee. Directors are also granted long-term equity incentives, with shares vesting over three years. The value of these equity awards is set at $90,000 for directors and $180,000 for the non-executive chairman, based on the closing sales price as of January 1, 2008.

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EX-10.2 4 c73554exv10w2.htm EXHIBIT 10.2 Filed by Bowne Pure Compliance
Exhibit 10.2
UDR, Inc.
Independent Director Compensation
         
Component   Compensation  
Annual Board Retainer
        
Non-Executive Chairman
   $ 100,000  
Non-Executive Director
   $ 50,000  
       
Annual Committee Retainer
        
Member
        
Audit
   $ 7,500  
Compensation
   $ 7,500  
Executive*
   $ 7,500  
Governance
   $ 7,500  
Chairman
       
Audit
   $ 15,000  
Compensation
   $ 15,000  
Executive*
   $ 15,000  
Governance
   $ 15,000  
       
Long-term incentives
        
Fixed
        
# of shares
   TBD
Vesting
   1/3 of the Shares shall vest each year on the date of grant
Value
   $90,000 (at closing sales price on 1/1/08)
($180,000 for Non-Executive Chairman)
Performance
        
# of shares
   None
 
        
Vesting
        
 
        
Value
        
Maximum
        
 
     
*   Other than a member who also holds the position of Chairman of the Board.