Summary of Non-Management Director Compensation for The Williams Companies, Inc.

Summary

The Williams Companies, Inc. has set annual compensation for its non-management directors, effective September 18, 2008. Each non-management director receives a $110,000 cash retainer and $115,000 in restricted stock units, with the number of units based on the stock price at the time of grant. Additional cash retainers are provided for specific roles, such as Lead Director, committee chairs, and special litigation committee members. These payments are made on the date of the company's Annual Meeting of Stockholders.

EX-10.2 2 d64843exv10w2.htm EX-10.2 exv10w2
Exhibit 10.2
Summary of Non-Management Director Compensation
     On September 18, 2008, the Board of Directors of The Williams Companies, Inc. approved the following annual compensation for non-management directors payable on the date of the company’s Annual Meeting of Stockholders:
     
Board cash retainer
  $110,000
 
   
Restricted stock units
  $115,000 in value (the number of restricted stock units to be awarded will be based on the closing common stock price on the date of grant)
 
   
Additional cash retainers:
   
 
   
Lead Director
  $25,000
Audit Committee Chair
  $20,000
Compensation Committee Chair
  $15,000
Other Committee Chairs
  $10,000
Special litigation committee member
  $10,000