Attached files
file | filename |
---|---|
10-Q - FORM 10-Q - SUPERVALU INC | c52970e10vq.htm |
EX-32.1 - EX-32.1 - SUPERVALU INC | c52970exv32w1.htm |
EX-31.1 - EX-31.1 - SUPERVALU INC | c52970exv31w1.htm |
EX-10.1 - EX-10.1 - SUPERVALU INC | c52970exv10w1.htm |
EX-32.2 - EX-32.2 - SUPERVALU INC | c52970exv32w2.htm |
EX-31.2 - EX-31.2 - SUPERVALU INC | c52970exv31w2.htm |
Exhibit 10.2
SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION
Compensation: Non-employee directors shall receive the following remuneration:
Cash retainer |
$80,000 | |||
Lead Director retainer |
$25,000 | |||
Committee fee (non-Audit Committee) |
$10,000 per committee | |||
Audit Committee fee |
$15,000 | |||
Committee Chair fee (non-Audit Committee) |
$20,000 | |||
Audit Committee Chair fee |
$25,000 | |||
Deferred Stock Payment |
$60,000 | |||
Stock Options |
6,140 options |
Directors may elect to defer payment of their fees under the Directors Deferred Compensation
Plan. Under this Plan, a non-employee director may elect to have payment of all or a portion of
the directors fees deferred and credited to a deferred stock account or into a deferred cash
account. If a director chooses to defer fees into a deferred stock account, SUPERVALU then credits
the directors account with an additional amount equal to 10 percent of the amount of fees the
director has elected to defer and contributes the total amount in the directors account to an
irrevocable grantor (rabbi) trust that uses the amount to purchase shares of SUPERVALU common
stock, which are then allocated to an account for the director under the trust. Each director is
entitled to direct the trustee to vote all shares allocated to the directors account in the trust.
The common stock in each directors deferred stock account will be distributed to the director
after the director leaves the Board. Until that time, the trust assets remain subject to the claims
of our creditors. Dividends paid on the shares of common stock held in each of the directors
accounts are used to purchase additional shares for these accounts each quarter. If a director
chooses to defer all or a portion of fees into a deferred cash account, interest is payable on the
amount of deferred cash compensation at an annual rate equal to the twelve-month rolling average of
Moodys Corporate Average Bond Index for the twelve-month period ending in the month of October
preceding the first day of the calendar year. Payment in cash is made from the cash account
following retirement from the Board.