Attached files
| file | filename |
|---|---|
| EX-31.2 - EX-31.2 - STEELCASE INC | k50810exv31w2.htm |
| EX-31.1 - EX-31.1 - STEELCASE INC | k50810exv31w1.htm |
| EX-10.2 - EX-10.2 - STEELCASE INC | k50810exv10w2.htm |
| EXCEL - IDEA: XBRL DOCUMENT - STEELCASE INC | Financial_Report.xls |
| 10-Q - FORM 10-Q - STEELCASE INC | k50810e10vq.htm |
| EX-32.1 - EX-32.1 - STEELCASE INC | k50810exv32w1.htm |
Exhibit 10.1
SUMMARY OF COMPENSATION FOR
THE BOARD OF DIRECTORS OF
STEELCASE INC.
THE BOARD OF DIRECTORS OF
STEELCASE INC.
Effective December 1, 2011, non-employee directors are compensated annually as follows.
Annual Retainers
| Type of Compensation | Director | Board Chair | ||||||
Board Annual Retainer |
$ | 110,000 | $ | 190,000 | ||||
Committee Chair Annual Retainers: |
||||||||
Audit Committee |
$ | 10,000 | ||||||
Compensation Committee |
$ | 10,000 | ||||||
Nominating and Corporate Governance Committee |
$ | 5,000 | ||||||
Board annual retainers and committee chair annual retainers shall be paid on a quarterly basis
in advance, 50% in cash and the remaining 50% in either:
| • | Steelcase Inc. Class A Common Stock issued under the Steelcase Inc. Incentive Compensation Plan or | |
| • | A deemed investment in Steelcase Inc. Class A Common Stock under the Steelcase Inc. Non-Employee Director Deferred Compensation Plan. |
Any director compensation that is paid in stock or a deemed investment in Steelcase Inc. Class
A Common Stock under the Steelcase Inc. Non-Employee Director Deferred Compensation Plan shall be
subject to the expectation that it will be held for the length of Board service.
All shares granted to directors as part of their non-cash director compensation shall be
granted in the form of Steelcase Inc. Class A Common Stock, pursuant to the Steelcase Inc.
Incentive Compensation Plan. The number of shares of Class A Common Stock to be awarded shall be
calculated using the Fair Market Value, as defined in the Steelcase Inc. Incentive Compensation
Plan, of such shares on the date on which the quarterly payment is made.
Meeting Fees and Expenses
Each director (including committee chairs but excluding the Board chair) will receive $1,500
per committee meeting attended, paid in cash. Additionally, all directors (including committee
chairs and the Board chair) will be reimbursed for out-of-pocket expenses incurred to attend Board
and committee meetings, paid in cash.
Payments
Payments (of cash and stock) shall be made on or about the 10th day of the month of
March, June, September and December.
Deferred Compensation Plan
Each non-employee director can participate in the Steelcase Inc. Non-Employee Director
Deferred Compensation Plan. Under this plan, directors may defer all or part of their retainer
and/or committee fees until they no longer serve on the Board of Directors. A participating
director may elect to have the deferred amount deemed as an investment in Steelcase Inc. Class A
Common Stock or invested in any of several investment funds.
Outside Director Benefit Plan
Each non-employee director who is not a retiree of the Company is also eligible to participate
in the Steelcase Benefit Plan for Outside Directors which provides health, vision and group travel
accident benefits.
Employees and Officers
Members of the Board of Directors who are employees or officers of the Company or any of its
subsidiaries do not receive any compensation for serving on the Board of Directors or any
committees thereof.
Last revised on October 11, 2011