Attached files
| file | filename |
|---|---|
| 8-K - 8-K - COO PROMOTION, COMP AND BOARD NUMBER - NEW JERSEY RESOURCES CORP | form8-kxcoopromotionandcom.htm |
Exhibit 10.1
Summary of Non-Employee Director Compensation
Annual Cash Retainer Fee | $ | 68,000 | |||||
Lead Director Additional Annual Cash Retainer | $ | 20,000 | |||||
Annual Equity Retainer (in common stock equivalent)† | $105,000 | ||||||
Annual Retainer - Committee Member: | |||||||
Audit | $ | 12,000 | |||||
Leadership Development and Compensation Committee | $ | 6,000 | |||||
Nominating/Corporate Governance Committee | $ | 6,000 | |||||
Additional Annual Retainer for Committee Chairs: | |||||||
Audit | $ | 15,000 | |||||
Executive | $ | 15,000 | |||||
Leadership Development and Compensation | $ | 15,000 | |||||
Nominating/Corporate Governance | $ | 15,000 | |||||
Subsidiary Board Retainers:*
Annual Retainer- Subsidiary Board Member** $9,000
Additional Annual Retainer- Subsidiary Board Lead Director*** $15,000
In the event of extraordinary circumstances resulting in an excessive number of Board or Committee meetings beyond the typical number of meetings of a Board or Committee in a given year, the Board retains discretion to pay an additional per meeting fee of $1,500 to each attending non-employee director that is a member of such Board or Committee.
† The number of shares to be based upon the closing price of a share of the Company’s common stock on the date of the grant.
* Subsidiary Boards include the Boards of Directors for New Jersey Natural Gas, NJR Energy Services, NJR Clean Energy Ventures and NJR Energy Investments.
**Subsidiary Board Member Annual Retainers and any additional meeting fees are based upon each member only being compensated for one meeting when joint Boards of Directors meetings occur.
***Lead Directors of more than one subsidiary Board will only be paid a single annual retainer fee of $15,000 for service as Lead Director on those Boards.