Summary of Non-Employee Director Compensation Effective January 1, 2019
This document outlines the compensation structure for non-employee directors of the company, effective January 1, 2019. It details annual cash retainers, restricted stock awards with one-year vesting, additional compensation for lead directors and committee chairs, and meeting fees. The compensation varies based on roles such as lead director, committee chair, and committee member, and includes both cash payments and stock awards. The agreement ensures directors are compensated for their service and participation in board and committee activities.
Exhibit 10.3
Director Compensation
Effective January 1, 2019, non-employee director compensation is 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 | |||||
| Annual retainer |
| $ | 75,000 |
| $ | — |
| $ | — |
| $ | — |
| $ | — |
| Restricted stock (value), one year vesting |
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| 180,000 |
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| — |
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| — |
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| — |
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| — |
| Lead annual retainer |
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| — |
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| 20,000 |
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| — |
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| — |
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| — |
| Lead restricted stock (value) |
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| — |
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| 15,000 |
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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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| 25,000 |
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| 15,000 |
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| 15,000 |
| Committee chair restricted stock (value) |
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| — |
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| — |
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| 25,000 |
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| 15,000 |
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| 15,000 |
| 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 |
| 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 |
