Summary of Non-Employee Director Compensation Effective March 31, 2020
This document outlines the cash compensation structure for non-employee directors of the company, effective March 31, 2020. Directors receive quarterly payments in advance, including an annual retainer, additional retainers for lead directors and committee chairs, and meeting fees for sessions over 30 minutes. The compensation varies based on roles and committee service, ensuring directors are compensated for their time and responsibilities.
Exhibit 10.4
Director Compensation
Effective March 31, 2020, non-employee director compensation is paid in cash in quarterly installments in advance as follows:
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| Committee Service | ||||||||||
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| Nominating |
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| Board |
| Lead |
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| and |
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| Service |
| Director |
| Audit |
| Compensation |
| Governance |
| Sustainability | ||||||
| Annual retainer |
| $ | 250,000 |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| Lead annual retainer |
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| — |
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| 35,000 |
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| — |
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| — |
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| — |
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| — |
| Committee chair annual retainer |
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| — |
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| — |
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| 50,000 |
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| 30,000 |
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| 30,000 |
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| 30,000 |
| Committee member annual retainer |
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| — |
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| — |
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| 10,000 |
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| 5,000 |
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| 5,000 |
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| 5,000 |
| Meeting fee* |
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| 1,500 |
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| — |
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| 1,500 |
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| 1,500 |
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| 1,500 |
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| 1,500 |
* For any Board or Committee meeting over 30 minutes in duration
