Summary of 2007 Non-Management Director Compensation for The Williams Companies, Inc.
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Summary
This document outlines the compensation awarded to non-management directors of The Williams Companies, Inc. following the approval of the 2007 Incentive Plan. Each director receives an annual retainer, long-term incentive compensation in the form of restricted stock units, and additional fees for serving as committee chairs or in special roles. Payments are made in cash or stock units, with certain stock units payable in 2010 or upon termination of service. The agreement specifies the amounts and conditions for each director's compensation.
EX-10.1 2 d48727exv10w1.htm SUMMARY OF THE NON-MANAGEMENT DIRECTOR COMPENSATION ACTION exv10w1
Exhibit 10.1
Summary of 2007 Non-Management Director Compensation
With the approval of The Williams Companies, Inc. 2007 Incentive Plan by the company’s stockholders on May 17, 2007, the following compensation was awarded to the non-management directors of The Williams Companies, Inc. on May 17, 2007:
| Annual Retainer | ||||||||||||||||||||
| Long-term | ||||||||||||||||||||
| incentive | ||||||||||||||||||||
| Chair Retainers | Total fees paid in | (number of | ||||||||||||||||||
| and Special | cash or paid in | restricted stock | ||||||||||||||||||
| Cash payment | Full value shares1 | Committee fees | stock | units)2 | ||||||||||||||||
Kathleen B. Cooper | $ | 75,000 | $ | 35,010 | — | $ | 110,010 | 3,000 | ||||||||||||
Irl F. Engelhardt | $ | 75,000 | $ | 35,010 | — | $ | 110,010 | 3,000 | ||||||||||||
William R. Granberry | $ | 75,000 | $ | 35,010 | — | $ | 110,010 | 3,000 | ||||||||||||
William E. Green3 | $ | 75,000 | $ | 35,010 | $ | 10,000 | $ | 120,010 | 3,000 | |||||||||||
Juanita H. Hinshaw4 | $ | 75,000 | $ | 35,010 | $ | 10,000 | $ | 120,010 | 3,000 | |||||||||||
W. R. Howell5 | $ | 75,000 | $ | 35,010 | $ | 30,000 | $ | 140.010 | 3,000 | |||||||||||
Charles M. Lillis6 | $ | 75,000 | $ | 35,010 | $ | 20,000 | $ | 130,010 | 3,000 | |||||||||||
George A. Lorch7 | $ | 75,000 | $ | 35,010 | $ | 20,000 | $ | 130,010 | 3,000 | |||||||||||
William G. Lowrie8 | $ | 75,000 | $ | 35,010 | $ | 15,000 | $ | 125,010 | 3,000 | |||||||||||
Frank T. MacInnis9 | $ | 75,000 | $ | 35,010 | $ | 10,000 | $ | 120,010 | 3,000 | |||||||||||
Janice D. Stoney | $ | 75,000 | $ | 35,010 | — | $ | 110,010 | 3,000 | ||||||||||||
| 1 | 1,228 shares at $28.51 per share. | |
| 2 | Payable May 17, 2010, or upon death or other termination of service as a non-management director of the Company. | |
| 3 | Special Litigation Committee fee ($10,000). | |
| 4 | Special Litigation Committee fee ($10,000). | |
| 5 | Lead Director fee ($20,000); Compensation Committee chair fee ($10,000). | |
| 6 | Special Litigation Committee fee ($10,000); Finance Committee chair fee ($10,000). | |
| 7 | Special Litigation Committee fee ($10,000); Special Litigation Committee chair fee ($10,000). | |
| 8 | Audit Committee chair fee ($15,000). | |
| 9 | Nominating and Governance Committee chair fee ($10,000). |
