USF Corporation 2004 Board of Directors Compensation Schedule
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Summary
This document outlines the 2004 compensation plan for directors of USF Corporation. Directors receive an annual cash retainer of $15,000 and stock compensation of $20,000, both paid in two installments. Additional fees are provided for attending board and committee meetings, with higher fees for chairing certain committees. Directors also receive an annual option grant of 5,000 shares. There is an option to defer compensation into the company's Deferred Compensation Program.
EX-10.18 3 c93110exv10w18.htm BOARD OF DIRECTORS FEE SCHEDULE exv10w18
EXHIBIT 10.18
USF CORPORATION
DIRECTORS COMPENSATION
2004
Annual Retainer: | Cash | $15,000/year | ||||||||
| • | $7,500 payable beginning of 1st Quarter | |||||||||
| • | $7,500 payable beginning of 3rd Quarter | |||||||||
| Stock | $20,000/year | |||||||||
| • | $10,000 payable beginning of 1st Quarter | |||||||||
| • | $10,000 payable beginning of 3rd Quarter | |||||||||
Board Meeting Fees: | $1,000 | |||||||||
Committee Fees: | • | $500 (If held with Board Meeting) | ||||||||
| $1,000 (If held separate from Board Meeting) | ||||||||||
Chairperson Fees: | Audit | $4,000 | ||||||||
| Compensation | $2,500 | |||||||||
| Nominating and Corporate Governance | $2,000 | |||||||||
Telephonic Board or Committee Fees: | $750 | |||||||||
Annual Option Grant: | 5,000 Shares (payable in December) | |||||||||
Directors are eligible to defer cash and stock compensation to USF’s Deferred Compensation Program.
