Attached files
file | filename |
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10-K - FORM 10-K - ABM INDUSTRIES INC /DE/ | y81068e10vk.htm |
EX-31.2 - EX-31.2 - ABM INDUSTRIES INC /DE/ | y81068exv31w2.htm |
EX-32.1 - EX-32.1 - ABM INDUSTRIES INC /DE/ | y81068exv32w1.htm |
EX-23.1 - EX-23.1 - ABM INDUSTRIES INC /DE/ | y81068exv23w1.htm |
EX-31.1 - EX-31.1 - ABM INDUSTRIES INC /DE/ | y81068exv31w1.htm |
EX-21.1 - EX-21.1 - ABM INDUSTRIES INC /DE/ | y81068exv21w1.htm |
EX-10.31 - EX-10.31 - ABM INDUSTRIES INC /DE/ | y81068exv10w31.htm |
EX-10.32 - EX-10.32 - ABM INDUSTRIES INC /DE/ | y81068exv10w32.htm |
EXHIBIT 10.6
ARRANGEMENTS WITH
NON-EMPLOYEE DIRECTORS
On September 9, 2009, the Board of Directors of ABM
Industries Incorporated (the Registrant) approved
certain changes to cash and equity compensation of non-employee
directors, beginning November 1, 2009. Non-employee
directors will receive: an annual cash retainer of $70,000; an
annual equity grant of $80,000 in restricted stock units, to be
given at the Companys annual shareholders meeting, with
the value calculated by dividing $80,000 by the closing price of
ABM common stock on the date of the grant; fees for Committee
meetings (telephonic or otherwise) in the amount of $2,000 for
each Audit Committee meeting, $1,500 for each Governance
Committee meeting, $1,500 for each Compensation Committee
meeting, and $1,500 for each Executive Committee meeting. The
Board also approved annual retainers to the Chairman of the
Board and the Chairs of the respective Committees as follows:
Chairman of the Board $40,000; Chairman of the Audit Committee
$15,000; Chairman of the Governance Committee $5,000; Chairman
of the Compensation Committee $7,500; and Chairman of the
Executive Committee $5,000. Fees for attendance at Board
meetings were eliminated. In fiscal year 2009, the Board also
approved additional payments to non-employee directors who, in
instances approved by the Chairman of the Board, invest
significant time above and beyond the requirements of Board or
Committee service, by virtue of serving on an ad hoc committee
or otherwise, in an amount equal to $2,000 per day for such
service.
On September 9, 2009 the Board of Directors approved the
participation of non-employee directors in the Registrants
health benefit plans, with the full cost of any such
participation to be paid by the individual director electing to
so participate.