Westwood Holdings Group, Inc. 2011 Schedule of Director Compensation
Westwood Holdings Group, Inc. outlines its 2011 compensation for non-employee directors. Each director receives a $20,000 annual retainer, $5,000 for each regular quarterly board meeting attended, and $5,000 for other board or committee meetings attended. The Audit Committee Chairman receives an additional $5,000 annual retainer. Upon election or re-election, each non-employee director is granted 1,500 restricted shares of common stock, vesting after about 12 months. The company may review and adjust this compensation arrangement periodically.
Exhibit 10.16
SCHEDULE OF DIRECTOR COMPENSATION
For 2011, Westwood Holdings Group, Inc. paid each non-employee member of our Board of Directors a $20,000 annual retainer, $5,000 for each regularly scheduled quarterly meeting of the Board of Directors attended by the member and $5,000 per board or committee meeting attended other than regularly scheduled quarterly meetings. The Chairman of the Audit Committee receives an additional $5,000 annual retainer. Additionally, upon the date of election or re-election as a member of our Board of Directors, each non-employee director is awarded 1,500 restricted shares of our common stock, which vest approximately 12 months from the date of grant. We review our compensation arrangement for directors from time to time.
