EXHIBIT 10.1
SPARTAN STORES, INC.
BOARD OF DIRECTORS
DIRECTOR COMPENSATION PLAN1
Effective: October 1, 20062
Annual Retainer | $ | 30,000 |
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Meeting Fees: |
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Board Meetings |
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Personal Attendance | $ | 1,500 |
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Telephone Call Attendance | $ | 750 |
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Committee Meetings |
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Personal Attendance | $ | 1,000 |
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Telephone Call Attendance | $ | 500 |
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Committee Chair Fees: |
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Audit | $ | 7,500 |
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Compensation | $ | 5,000 |
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Nominating and Corporate Governance | $ | 5,000 |
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Annual Equity Component (Restricted Stock or Option Grants)3 | $ | 50,000 |
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1 Management directors do not receive any compensation for serving as a director.
2 Prior to August 16, 2006, the value of the annual equity component was in the amount of $20,000. The increase to $50,000 in the value of the grant will be effective at the time of the annual equity grant in May 2007.
3 The Annual Equity Component will be annually granted in the same percentage mix of stock options, restricted shares or other equity awards as granted to management.