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Exhibit 10
Director Compensation
Summary
Annual Retainer.
Each non-management director is paid
an annual retainer of $160,000 in quarterly installments, following
the end of each quarter of service. Of this amount, 40% (or
$64,000) of the annual retainer is paid in cash and 60% (or
$96,000) is paid in deferred stock units (“DSUs”).
Instead of receiving a cash payment, non-management directors may
elect to have 100% of their annual retainer paid in DSUs, provided,
however, that no more than 25,000 DSUs may be granted to any
non-management director in any one calendar year pursuant to the
terms of the 2004 Genworth Financial, Inc. Omnibus Incentive Plan
under which the DSUs are awarded. To the extent this limit would be
exceeded, the remainder of a director’s annual retainer will
be paid in cash.
Deferred Stock Units
. Each DSU represents the right to
receive one share of our common stock in the future. DSUs are
granted at the end of each quarter of service and are credited to a
notional account maintaine
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