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UFS » Topics » Director Compensation Table

This excerpt taken from the UFS DEF 14A filed Apr 24, 2009.

Director Compensation Table

 

(a)

Name

    (b)    (c)    (g)    (h)
   Fees
Earned or
Paid in
Cash (1)
($)		    Stock
Awards(2)
($)		    All other
compensation
($)		    Total ($)

Harold H. MacKay

    120,000    57,420    —    177,420

Jack C. Bingleman

    80,000    33,494    —    113,494

Louis P. Gignac

    80,000    33,494    —    113,494

Brian M. Levitt

    90,000    33,494    —    123,494

W. Henson Moore

    90,000    33,494    —    123,494

Michael R. Onustock

    80,000    33,494    —    113,494

Robert J. Steacy

    100,000    33,494    —    133,494

William C. Stivers

    90,000    33,494    —    123,494

Pamela B. Strobel

    70,000    33,494    —    103,494

Richard Tan

    80,000    33,494    —    113,494

Denis Turcotte

    70,000    33,494    —    103,494

 

(1) The amounts in this column reflect director compensation earned or paid in cash, including amounts voluntarily deferred under the director compensation program into deferred share units pursuant to the Omnibus Incentive Plan. Of the amounts of compensation earned, certain directors have elected to defer fees into deferred share units pursuant to the Omnibus Incentive Plan and were credited with the deferred share units as follows:

 

Name

    Fees Deferred
($)		    Deferred Share Units Credited
(#)

Jack C. Bingleman

    80,000    22,922

Michael R. Onustock

    20,000    2,928

Robert J. Steacy

    30,000    5,326

Denis Turcotte

    70,000    20,056

 

(2)

The amounts in this column represent compensation expense recognized in the Corporation’s financial statements in fiscal 2008 with respect to the fair value of director compensation earned and paid automatically in the form of deferred share units under the Omnibus

 

65

 

Incentive Plan for fiscal 2008. Compensation expense reflected in the table was computed in accordance with Statement of Financial Accounting Standards No. 123 revised 2004, Share-Based Payment SFAS 123(R), excluding the expense for voluntary deferrals into deferred share units reflected in footnote (1), above. The fair value of the awards was determined using the valuation methodology and assumptions set forth in Note 5 to the Corporation’s financial statements included in the Corporation’s annual report on Form 10-K for the fiscal year ended December 31, 2008, which are incorporated by reference herein. The amounts in the table reflect Domtar’s accounting expense in fiscal 2008 for the deferred share units granted for 2008 and do not reflect the value, if any, that ultimately may be realized by the directors. As described above, the number of deferred share units to be paid under the Omnibus Incentive Plan is determined by dividing the dollar amount of the portion of that quarter’s retainer fees to be paid in deferred share units by the closing market price of a share of Domtar common stock on the last day of the quarter.

The following table sets forth, by grant date, the number of deferred share units credited to each director and the grant date fair value of each award with respect to service as a director in 2008. All deferred share units were vested upon grant.

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