MoneyGram 2012 Annual Report Download - page 145
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Please find page 145 of the 2012 MoneyGram annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
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The following compensation program is available to non-employee directors of MoneyGram International, Inc.
The Chair of the Audit committee shall receive an additional $15,000 in cash per year of Chairmanship; payment will be made in arrears in four equal
installments on each Payable Date.
The Chair of the Human Resources and Nominating committee shall receive an additional $15,000 in cash per year of Chairmanship; payment will be made
in arrears in four equal installments on each Payable Date.
The Chair of the Compliance and Ethics committee shall receive an additional $15,000 in cash per year of Chairmanship; payment will be made in arrears in
four equal installments on each Payable Date.
Any director serving on two or more of the above-named committees of the Board but not acting as Chair of any such committees shall receive an additional
$10,000 in cash per year of joint service on such committees.
Non-employee directors are also reimbursed for their expenses for each Board or committee meeting attended. To the extent that any taxable reimbursements are
provided, they shall be made or provided in accordance with Section 409A of the Internal Revenue Code and the Treasury Regulations thereunder.
(effective as of the 2012 annual meeting)
Under the MoneyGram International, Inc. 2005 Omnibus Incentive Plan, as amended, each non-employee director, at the annual meeting in May, shall receive
a restricted stock unit (“RSU”) covering shares of common stock the fair market value of which shall be equal to $90,000, as determined by the per share
closing price of the common stock on the New York Stock Exchange, as reported in the consolidated transaction reporting system, on the date of award of the
RSU. RSUs awarded under this program shall be payable in shares.
With respect to Directors who join the Board during a year, the Board may prorate such Director’s retainer and/or equity award as it deems appropriate.
The Board may amend, alter, suspend, discontinue or terminate this program at any time.