Equity Commonwealth - FORM 10-K - EX-10.25 - EXHIBIT 10.25 - February 15, 2018

Attached files

file filename
10-K - 10-K - Equity Commonwealtheqc12311710-k.htm
EX-32.1 - EXHIBIT 32.1 - Equity Commonwealtheqc123117exhibit321.htm
EX-31.2 - EXHIBIT 31.2 - Equity Commonwealtheqc123117exhibit312.htm
EX-31.1 - EXHIBIT 31.1 - Equity Commonwealtheqc123117exhibit311.htm
EX-23.1 - EXHIBIT 23.1 - Equity Commonwealtheqc123117exhibit231.htm
EX-21.1 - EXHIBIT 21.1 - Equity Commonwealtheqc123117exhibit211.htm
EX-12.2 - EXHIBIT 12.2 - Equity Commonwealtheqc123117exhibit122.htm
EX-12.1 - EXHIBIT 12.1 - Equity Commonwealtheqc123117exhibit121.htm
EX-10.15 - EXHIBIT 10.15 - Equity Commonwealtheqc123117exhibit1015.htm
EX-10.14 - EXHIBIT 10.14 - Equity Commonwealtheqc123117exhibit1014.htm
EX-10.13 - EXHIBIT 10.13 - Equity Commonwealtheqc123117exhibit1013.htm
EX-10.12 - EXHIBIT 10.12 - Equity Commonwealtheqc123117exhibit1012.htm
EX-10.11 - EXHIBIT 10.11 - Equity Commonwealtheqc123117exhibit1011.htm
EX-10.10 - EXHIBIT 10.10 - Equity Commonwealtheqc123117exhibit1010.htm
EX-10.9 - EXHIBIT 10.9 - Equity Commonwealtheqc123117exhibit109.htm
EX-10.8 - EXHIBIT 10.8 - Equity Commonwealtheqc123117exhibit108.htm


Exhibit 10.25

EQUITY COMMONWEALTH

Schedule of Annual Independent Trustee Fees and Other Compensation

The independent trustees of Equity Commonwealth are entitled to the following annual compensation:

Annual Retainer - Cash
 
$60,000
Annual Retainer - Equity Awards
 
Each independent trustee will receive, at the trustee's option, restricted common shares of EQC or time-based LTIP units in EQC Operating Trust, with a value of $100,000 on an annual basis, which shares or units will vest on the one-year anniversary of the grant date.
Lead Trustee Annual Retainer
 
$30,000
Audit Committee Chair Annual Retainer
 
$20,000
Compensation Committee Chair Annual Retainer
 
$15,000
Nominating and Corporate Governance Committee Chair Annual Retainer
 
$15,000
Audit Committee Member
 
$8,000
Compensation Committee Member
 
$6,000
Governance Committee Member
 
$6,000
Reimbursements
 
Each independent trustee will be entitled to reimbursement for travel expenses related to a Board or Committee meeting.


Annual Compensation for Chairman of the Board of Trustees

The Chairman of the Board is entitled to the following annual compensation:
Annual Retainer - LTIC Awards
 
The Chairman of the Board will receive equity awards pursuant to the Company’s Long-Term Incentive Compensation Plan (the “LTIC Awards”). 33% of the target LTIC Awards will consist of, at the Chairman's option, restricted common shares of EQC or time-based LTIP units in EQC Operating Trust, subject to time-based vesting restrictions. 67% of the target LTIC Awards will consist of, at the Chairman's option, restricted stock units of EQC (“RSUs”) or performance-based LTIP units in EQC Operating Trust ("PB LTIP Units"), subject to time-based and performance-based vesting restrictions. The LTIC Awards issued to the Chairman of the Board will have a target value of $2,000,000. The number of RSUs or PB LTIP Units that will be earned by the Chairman of the Board, if any, will not be determined until the end of a three-year performance period, and therefore the actual value of any RSUs or PB LTIP Units could be higher or lower than the foregoing target level, depending on the Company’s achievement of the applicable performance criteria.
 
 
 
Reimbursements
 
The Chairman of the Board will be entitled to reimbursement for travel expenses related to company business and Board or Committee meetings.



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