EXHIBIT 10.16
HURON CONSULTING GROUP INC.
DIRECTORS’ COMPENSATION FOR 2007 AND 2008
SUMMARY SHEET
2007 | 2008 | |||||
Cash Compensation | ||||||
Annual Board Retainer(1) | $ | 40,000 | $ | 50,000 | ||
Annual Committee Chairmanship Retainer(1): | ||||||
Audit Committee | $ | 10,000 | $ | 10,000 | ||
Compensation Committee | $ | 7,500 | $ | 7,500 | ||
Nominating and Corporate Governance Committee | $ | 7,500 | $ | 7,500 | ||
Board Meeting Fee (per meeting) | $ | 1,000 | $ | 1,000 | ||
Committee Meeting Fee (per meeting) | $ | 1,000 | $ | 1,000 | ||
Equity Compensation | ||||||
Grant of Restricted Common Stock Upon Appointment(2) | 15,000 shares | $ | 400,000 | |||
Annual Grant of Restricted Common Stock(3) (aggregate fair value) | $ | 150,000 | $ | 160,000 |
(1) | Annual retainers are paid in four equal installments and are prorated to reflect the portion of the year that the director serves on the board. |
(2) | Beginning in 2008, upon appointment to the board, independent directors will be granted shares of restricted common stock with an aggregate fair value of $400,000, based on the closing stock price on the date immediately preceding the date of appointment. Such shares will vest over the following twelve quarters. |
(3) | On the date of the 2007 annual meeting of stockholders, each independent director was granted shares of restricted common stock with an aggregate fair value of $150,000. On the date of the 2008 annual meeting of stockholders, each independent director will be granted shares of restricted common stock with an aggregate fair value of $160,000. The number of shares granted is based on the closing stock price on the date immediately preceding the date of the annual meeting and vest over the following twelve quarters. |