Summary of Non-Employee Director Compensation Effective January 1, 2020

Summary

This document outlines the compensation structure for non-employee directors of the company, effective January 1, 2020. It details annual cash retainers, restricted stock awards, and meeting fees for board service and committee roles, including additional compensation for lead directors, committee chairs, and committee members. The compensation includes both cash payments and restricted stock with a one-year vesting period. The agreement specifies the amounts for each role and type of service, ensuring transparency in director compensation.

EX-10.3 3 wll-20191231ex103716281.htm SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION wll_Ex10_3

Exhibit 10.3

Director Compensation

Effective January 1, 2020, non-employee director compensation is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Committee Service

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nominating

 

 

 

 

 

Board

 

Lead

 

 

 

 

 

 

 

and

 

 

 

 

    

Service

    

Director

    

Audit

    

Compensation

    

Governance

 

Sustainability

Annual retainer

 

$

75,000

 

$

 —

 

$

 —

 

$

 —

 

$

 —

 

$

 —

Restricted stock (value), one year vesting

 

 

180,000

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Lead annual retainer

 

 

 —

 

 

20,000

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Lead restricted stock (value)

 

 

 —

 

 

15,000

 

 

 —

 

 

 —

 

 

 —

 

 

 —

Committee chair annual retainer

 

 

 —

 

 

 —

 

 

25,000

 

 

15,000

 

 

15,000

 

 

15,000

Committee chair restricted stock (value)

 

 

 —

 

 

 —

 

 

25,000

 

 

15,000

 

 

15,000

 

 

15,000

Committee member annual retainer

 

 

 —

 

 

 —

 

 

10,000

 

 

5,000

 

 

5,000

 

 

5,000

Meeting fee

 

 

1,500

 

 

 —

 

 

1,500

 

 

1,500

 

 

1,500

 

 

1,500