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DIS » Topics » Non-Management Chairman of the Board:

This excerpt taken from the DIS 10-K filed Dec 2, 2009.

Non-Management Chairman of the Board:

 

  •  

The Chairman of the Board will receive an annual retainer of $500,000, credited quarterly in arrears in installments of $125,000 each (prorated for partial periods of service), and payable 100% in the form of deferred stock units of the Corporation’s common stock. The number of stock units credited for each full calendar quarter will be determined by dividing $125,000 by the average of the high and low trading prices of the Corporation’s common stock averaged over the last ten trading days of the quarter.

 

  •  

The deferred units will be fully vested upon crediting, will be distributed 100% in shares of the Corporation’s common stock in January of the year following the year of crediting and will be subject to the retention requirement applicable to all other Directors as described above.

 

  •  

The Chairman will receive no other cash retainer, meeting fees or restricted stock grants, but will continue to receive the annual stock option grant.

The Board’s determination in June 2006 that, at Mr. Jobs’s request, he be excluded from receiving compensation as a Director, is unaffected by this policy.

This excerpt taken from the DIS 10-Q filed Jul 30, 2008.

Non-Management Chairman of the Board:

 

  •  

The Chairman of the Board will receive an annual retainer of $500,000, credited quarterly in arrears in installments of $125,000 each (prorated for partial periods of service), and payable 100% in the form of deferred stock units of the Corporation’s common stock. The number of stock units credited for each full calendar quarter will be determined by dividing $125,000 by the average of the high and low trading prices of the Corporation’s common stock averaged over the last ten trading days of the quarter.

  •  

The deferred units will be fully vested upon crediting, will be distributed 100% in shares of the Corporation’s common stock in January of the year following the year of crediting and will be subject to the retention requirement applicable to all other Directors as described above.

  •  

The Chairman will receive no other cash retainer, meeting fees or restricted stock grants, but will continue to receive the annual stock option grant.

The Board’s determination in June 2006 that, at Mr. Jobs’s request, he be excluded from receiving compensation as a Director, is unaffected by this resolution.

EXCERPTS ON THIS PAGE:

10-K
Dec 2, 2009
10-Q
Jul 30, 2008

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