Non-Employee Director Fee Arrangements for Board and Committee Service
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Summary
This document outlines the compensation structure for non-employee directors of the corporation. Non-employee directors receive an annual retainer of $240,000. If the Chairman of the Board is not an employee, they receive an extra $50,000 annually; if the Chairman is an employee, a Presiding or Lead Director is appointed and paid an additional $25,000. Committee Chairs receive an extra $20,000 per year. No separate fees are paid for attending meetings or for committee membership. Further details are available in the company's latest proxy statement.
EX-10.3 4 x20171231exhibit103.htm EXHIBIT 10.3 Exhibit
Exhibit 10.3
NON-EMPLOYEE DIRECTOR FEE ARRANGEMENTS
Non-employee directors are paid an annual retainer fee of $240,000. If the Chairman of the Board is not an employee of the Corporation, he or she is paid an additional annual fee of $50,000. If the Chairman of the Board is an employee of the Corporation, a Presiding or Lead Director is appointed who is paid an additional annual fee of $25,000. Committee Chairs are paid an additional annual fee of $20,000.
No meeting fees or committee membership fees are paid.
See the Corporation’s most recent definitive proxy statement on Schedule 14A for additional disclosure on director compensation.
