Attached files
| file | filename |
|---|---|
| 10-K - FORM 10-K - RPC INC | t69879_10k.htm |
| EX-23 - EXHIBIT 23 - RPC INC | ex23.htm |
| EX-24 - EXHIBIT 24 - RPC INC | ex24.htm |
| EX-21 - EXHIBIT 21 - RPC INC | ex21.htm |
| EX-32.1 - EXHIBIT 32.1 - RPC INC | ex32-1.htm |
| EX-31.1 - EXHIBIT 31.1 - RPC INC | ex31-1.htm |
| EX-31.2 - EXHIBIT 31.2 - RPC INC | ex31-2.htm |
| EX-10.17 - EXHIBIT 10.17 - RPC INC | ex10-17.htm |
EXHIBIT 10.19
RPC EXHIBIT
SUMMARY OF COMPENSATION ARRANGEMENTS WITH NON-EMPLOYEE DIRECTORS
The following summarizes the current compensation and benefits received by the Company’s non-employee directors effective January 1, 2011. This document is intended to be a summary of existing oral, at will arrangements, and in no way is intended to provide any additional rights to any non-employee director.
Retainer
Non-employee director compensation may be revised from time to time by the Board of Directors. Non-employee directors each receive an annual retainer fee of $26,000. The Chairman of the Audit Committee receives an annual retainer of $20,000, the Chairman of the Compensation Committee receives an annual retainer of $10,000 and the Chairman of each of the Corporate Governance/Nominating Committee and Diversity Committee receives an annual retainer of $6,000. A director that chairs more than one committee receives a retainer with respect to each Committee he chairs. All of the retainers are paid on a quarterly basis.
Meeting Fees
Per meeting fees for non-employee directors are as follows:
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For meetings of the Board of Directions, $2,000.
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For meetings of the Board of Directors, Compensation Committee, Corporate Governance/Nominating Committee and Diversity Committee, $1,500.
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For meetings of the Audit Committee, $2,500. In addition, the Chairman gets an additional $2,000 for preparing to conduct each quarterly Board and Board Committee meeting.
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Equity Compensation
Under the terms of the Company’s Stock Incentive Plan, directors are eligible to receive stock options, stock awards, and other types of equity-based compensation awards. However, the Company does not make any such awards to non-employee directors under its current compensation practices.
All non-employee directors are entitled to reimbursement of expenses for all services as a director, including committee participation or special assignments.