Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - MARTEN TRANSPORT LTD | marten_8k-050112.htm |
| EX-10.1 - EXHIBIT 10.1 - MARTEN TRANSPORT LTD | ex10-1.htm |
Exhibit 10.2
Marten Transport, Ltd.
2012 Non-Employee Director Compensation Summary
On May 1, 2012, our Compensation Committee also approved the following fee schedule for non-employee directors for fiscal year 2012, effective May 1, 2012:
|
2011
|
2012
|
|
|
Annual Board Retainer
|
$ 22,500
|
$ 24,000
|
|
Lead Director
|
5,000
|
5,000
|
|
Audit Committee chair
|
15,000
|
15,000
|
|
Compensation Committee chair
|
7,500
|
10,000
|
|
Nominating/Corporate Governance Committee chair
|
2,500
|
3,500
|
The company generally pays non-employee directors a fee of $1,250 for each Board meeting attended, $750 for each committee meeting attended, and reimburses them for out-of-pocket expenses of attending meetings.
Pursuant to the non-employee director option program adopted on March 1, 2006, each non-employee director will also receive an automatic grant of an option to purchase 2,750 shares of common stock annually upon re-election to the Board by the stockholders. These options will be issued at a per share exercise price equal to the fair market value of one share of common stock on the grant date and expire ten years from the grant date.