Summary of Cash Compensation for Directors of Worthington Industries, Inc.
This document outlines the cash compensation policy for non-employee directors of Worthington Industries, Inc. Non-employee directors receive an annual retainer of $35,000, plus additional fees for attending board and committee meetings. The Audit Committee Chairman receives an extra $10,000 annually, while other committee chairmen receive $5,000. Directors are also reimbursed for expenses related to their duties. Employee directors do not receive extra compensation for board service.
Exhibit 10.20
SUMMARY OF CASH COMPENSATION
FOR DIRECTORS OF
WORTHINGTON INDUSTRIES, INC.
Non-employee Directors of Worthington Industries, Inc. (the “Company”) receive the following cash compensation. Directors who are employees of the Company receive no additional compensation for serving as members of the Board of Directors (the “Board”) or as members of Board committees. Directors are reimbursed for out-of-pocket expenses incurred in connection with their serving as directors, including travel expenses.
| Annual Retainer: | $35,000 | |
| Attendance at Board Meetings: | $1,500 | |
| (including telephonic meetings) | ||
| Audit Committee Chairman | ||
| Annual Retainer: | $10,000 | |
| Committee Chairman Other Than Audit | ||
| Annual Retainer: | $5,000 | |
| Attendance At Committee Meetings: | $1,000 | |
| (including telephonic meetings) | ||
