WellCare Health Plans, Inc. Non-Employee Director Compensation Summary (Effective June 2007)

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Summary

This document outlines the compensation for non-employee directors of WellCare Health Plans, Inc. Effective after June 12, 2007, non-employee directors receive an annual retainer of $37,500, with additional payments for serving on or chairing the audit and compensation committees. Directors are reimbursed for customary meeting expenses and may receive discretionary equity grants under the company's equity incentive plan. Payments are made quarterly in arrears.

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EX-10.2 3 exhibit10-2.htm SUMMARY OF DIRECTOR COMPENSATION exhibit10-2.htm
Back to Form 8-K
Exhibit 10.2

 
WELLCARE HEALTH PLANS, INC.

Summary of Compensation for Non-Employee Directors

Effective for the first fiscal quarter following June 12, 2007, the compensation payable to the non-employee members of the board of directors of WellCare Health Plans, Inc. (the “Company”) shall be as follows:

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An annual retainer of $37,500, payable quarterly in arrears.

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Each non-chair member of the audit committee shall receive an additional annual retainer of $5,000, payable quarterly in arrears.

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The chairperson of the audit committee shall receive an additional annual retainer of $10,000, payable quarterly in arrears.

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Each non-chair member of the compensation committee shall receive an additional annual retainer of $2,000, payable quarterly in arrears.

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The chairperson of the compensation committee shall receive an additional annual retainer of $2,500, payable quarterly in arrears.

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Each director shall be reimbursed for customary expenses for attending all board of directors, committee and stockholder meetings.

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Directors are also eligible for discretionary grants of equity under the 2004 Equity Incentive Plan (or any other or successor plan).