Exhibit 10.2
SCHEDULE OF NON-EMPLOYEE DIRECTOR COMPENSATION
OF
ATLANTIC UNION BANKSHARES CORPORATION
Effective January 1, 2024
Annual Cash Retainer and Fees by Position (1) | | Amount |
Non-Employee Directors (2) | | $50,000 |
Additional Fee to Chairperson of the Board | | $80,000 |
Additional Fee to Vice Chairperson of the Board | | $20,000 |
Additional Fee to Audit Committee Chair | | $22,500 |
Additional Fee to Compensation Committee and Risk Committee Chairs | | $16,000 |
Additional Fee to Nominating and Corporate Governance Committee (“Nominating”) and Trust Committee Chairs | | $14,000 |
Additional Fee to Audit Committee Members | | $11,000 |
Additional Fee to Compensation, Nominating, Risk and Trust Committee Members | | $8,000 |
| | |
Certain Per Meeting Fees | | Amount |
Executive Committee Meeting (In Person or Telephonic) | | $1,000 |
Executive Committee Meeting (Telephonic Lasting Under An Hour) | | $500 |
Meetings Above the Maximum Number of Per Year Meetings (3) | | $1,000 |
Special Purpose Committee Meetings | | $500 |
| | |
Annual Equity Compensation | | |
Non-employee directors also receive an annual stock retainer of $65,000 paid quarterly in advance in unrestricted shares of the Company’s common stock. | ||
| | |
| (1) | Cash retainers are payable in advance in quarterly installments. |
| (2) | Non-employee directors may elect to receive all or a portion of the Director cash retainer in unrestricted shares of the Company’s common stock. |
| (3) | The maximum number of per year Board, Audit Committee, Compensation Committee and Risk Committee meetings is ten, and the maximum number of per year Nominating Committee and Trust Committee meetings is eight. Additional meetings above these amounts will result in the noted per meeting fee. |