Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Otter Tail Corp | t79018_8k.htm |
| EX-10.5 - EXHIBIT 10.5 - Otter Tail Corp | ex10-5.htm |
| EX-10.3 - EXHIBIT 10.3 - Otter Tail Corp | ex10-3.htm |
| EX-10.1 - EXHIBIT 10.1 - Otter Tail Corp | ex10-1.htm |
| EX-10.2 - EXHIBIT 10.2 - Otter Tail Corp | ex10-2.htm |
Exhibit 10.4
SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION
Compensation: Non-employee directors shall receive the following remuneration:
|
Director’s Retainer (except Chairman)
|
$ 60,000
|
|
Committee Chair Retainer
|
$ 14,000
|
|
Chairman of the Board Retainer
|
$125,000
|
|
Restricted Stock Award Value
|
$ 60,000
|
Directors may elect to receive their compensation (other than expense reimbursements) in the form of cash, stock or a combination. Directors may elect to defer the receipt of all or part of their cash compensation pursuant to the Deferred Compensation Plan for Directors. The deferral may be in the form of cash or stock units. Cash deferrals receive interest at a rate equal to 1% over the prime commercial rate of U.S. Bank National Association. Deferrals in the form of stock units are credited quarterly with dividend equivalents equal to the dividend rate on Otter Tail Corporation’s common shares and the deferred amount is paid out in common shares.