Annual Committee Fee

Annual Committee Fee. An annual fee earned by an Eligible Director for service on various committees of the Board of Directors

Annual Committee Fee. Each Eligible Director shall be entitled to an Annual Committee Fee, which may be adjusted by the Board from time to time, for each Committee they serve on, in the amount of ten thousand dollars ($10,000) for a Committee member (other than the Chairman) and twenty thousand dollars ($20,000) for a Committee Chairman. The Annual Committee Fee shall be paid to an Eligible Director in four equal quarterly installments in arrears on the first business day following each quarter of the Plan Year in... which the Eligible Director served on the applicable committee(s). Notwithstanding the foregoing, if the Eligible Director that serves as a Committee Chairman simultaneously serves as the Lead Independent Director, then such Eligible Director shall not receive an Annual Committee Fee, but shall receive the Annual Director Fee and additional compensation set forth in clause 4.1.1 above. View More