Summary term sheet of board of director compensation
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Human Resources
- Compensation Agreements
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:
| · | An annual retainer of $37,500, payable quarterly in arrears. |
| · | Each non-chair member of the audit committee shall receive an additional annual retainer of $5,000, payable quarterly in arrears. |
| · | The chairperson of the audit committee shall receive an additional annual retainer of $10,000, payable quarterly in arrears. |
| · | Each non-chair member of the compensation committee shall receive an additional annual retainer of $2,000, payable quarterly in arrears. |
| · | The chairperson of the compensation committee shall receive an additional annual retainer of $2,500, payable quarterly in arrears. |
| · | Each director shall be reimbursed for customary expenses for attending all board of directors, committee and stockholder meetings. |
| · | Directors are also eligible for discretionary grants of equity under the 2004 Equity Incentive Plan (or any other or successor plan). |
