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Exhibit 10.26
Compensation Program
for Nonemployee Directors
| a. |
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Each director shall be paid an annual retainer of $50,000 for
serving as a member of the Board of Directors and any Board
Committee(s), which retainer shall be payable in quarterly
installments at the end of each quarter. Payment of this retainer
may be deferred under the Deferred Compensation Program for
Directors. |
| |
| b. |
|
Each director who serves as the Chairman of a Board Committee
shall be paid an additional annual retainer of $10,000, which
retainer shall be payable in quarterly installments. |
| |
| c. |
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The presiding director shall receive an additional annual
retainer of $15,000. |
| |
| d. |
|
The nonemployee Chairman of the Board, if any, shall receive an
additional fee of $50,000 for each quarterly period of service in
such role. |
| |
| e. |
|
Each director shall be paid a meeting fee of $2,000 per Board
or Committee meeting attended. */ |
| |
| f. |
|
Deferred stock units with a targeted dollar value of $100,000
shall be credited to each director’s Air Products Stock
Account under the Deferred Compensation Program for Directors
(i) effective as of the date the director first serves on the
Board, and (ii) annually, notwithstanding the date of first
service, for directors continuing in office after the Annual
Meeting of Shareholders, effe |
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