First Data 2011 Annual Report Download - page 173
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Exhibit 10.31
DESCRIPTION OF COMPENSATION OF DIRECTORS
First Data Corporation (the "Company") directors do not receive compensation. However, all of the directors of the Company
are also directors of the Company's parent company, First Data Holdings Inc. ("Holdings"). Except with respect to the Chairperson,
the Governance, Compensation and Nominations Committee (the "Committee") of the Board of Directors of Holdings has approved
compensation for each non-employee directors of Holdings of $40,000 per year payable in semi-annual installments. Such directors
may make an election to defer compensation earned in each calendar year under the First Data Holdings Inc. 2008 Non-Employee
Director Deferred Compensation Plan. All amounts deferred will accrue earnings based on the performance of Holdings common
stock and be paid to the director upon termination of the director's service, subject to acceleration of the payout under certain
circumstances. With respect to the Chairperson of the Board of Directors of Holdings, the Committee has approved compensation of
$800,000 per year payable in monthly installments and an annual bonus as determined at the discretion of the Committee. The current
target annual bonus for the Chairperson is $800,000. Mr. Joe W. Forehand, the Company's current Chairperson, is not eligible to make
additional deferrals into the 2008 Non-Employee Director Deferred Compensation Plan.