UnumProvident Corporation Director Compensation and Stock Ownership Guidelines
This document outlines the compensation and stock ownership requirements for non-employee directors of UnumProvident Corporation. Non-employee directors receive an annual retainer, additional fees for serving as board or committee chairs, and meeting fees for attending board or committee meetings. Special project fees may also be paid for work requested by the board. Directors are required to own at least 20,000 shares of company stock and must maintain this ownership while serving as directors.
Exhibit 10.1
EXHIBIT A
RETAINERS, FEES AND SHARE OWNERSHIP GUIDELINES
Base Annual Retainer
| Capacity of Service | Annual Amount | Payment Schedule | |||
| Non-Employee Director | $ | 80,000 | Annually on the date of each annual meeting for the upcoming plan year | ||
Supplemental Annual Retainers
| Capacity of Service | Annual Amount | Payment Schedule | |||
| Chair or Co-Chair of the Board | $ | 160,000 | Quarterly on the first day of each calendar year | ||
| Chair of Audit Committee Chair of Compensation Committee Chair of Finance Committee Chair of Governance Committee Chair of Regulatory Compliance Committee | $ $ $ $ $ | 7,500 7,500 7,500 7,500 7,500 | Annually on the date of each annual meeting for the upcoming plan year | ||
Meeting Fees
| Type of Meeting | Meeting Fee* | Payment Schedule | |||
| Any Board or Committee meeting held in person (whether regularly scheduled or specially called) | $ | 2,000 | Quarterly in arrears, payable on the first day of the following quarter | ||
| Any Board or Committee meeting held by conference call (whether regularly scheduled or specially called) | $ | 500 | Same | ||
| * | A separate meeting fee is paid for each meeting attended, whether or not held on the same day. A single meeting fee is paid for a single meeting that covers more than one day. |
Special Project Fees
| Project | Fee | Payment Schedule | ||
| Special project undertaken at request of the Board in capacity as a Non - Employee Director | Up to $1,000 per day | Upon completion of project |
Minimum Stock Ownership Guidelines: 20,000 Shares. Once the guideline level has been achieved, the director is expected to hold such number of Shares until his or her termination as a director.
