Exhibit 10.16
Summary of New Jersey Resources Corporation Non-Employee Director Compensation
Annual Retainer Fee: | $ | 35,000 cash (paid quarterly) | ||
1,200 shares of NJR Common Stock | ||||
(paid annually) | ||||
Lead Non-Management Director Fee: | $ | 10,000 | ||
Annual Retainer for Committee Chairs: | ||||
Audit Committee Chair: | $ | 10,000 | ||
Executive Committee Chair: | $ | 10,000 | ||
Financial Policy Committee Chair: | $ | 5,000 | ||
Leadership Development and Compensation Committee Chair: | $ | 10,000 | ||
Nominating/Corporate Governance Committee Chair: | $ | 5,000 | ||
Committee Meeting Fees: | $ | 1,500 per meeting attended |