{"id":38775,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/director-compensation-agreement-goldman-sachs-group-inc-and9.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"director-compensation-agreement-goldman-sachs-group-inc-and9","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/compensation\/director-compensation-agreement-goldman-sachs-group-inc-and9.html","title":{"rendered":"Director Compensation Agreement &#8211; Goldman Sachs Group Inc. and James A. Johnson"},"content":{"rendered":"<pre>\n                                                                 August 18, 1999\n\n\nJames A. Johnson\nFannie Mae\n390 Wisconsin Ave., N.W.\nWashington, D.C. 20016\n\n\n\nDear Jim: \n\n     We are very pleased that you have joined the Board of Directors of The\nGoldman Sachs Group, Inc. ('GS Inc.'), and are writing to set forth the general\nterms of your compensation as a director, pursuant to resolutions adopted by the\nBoard (without your participation) on June 23, 1999. These terms are, of course,\nsubject to future modification by the Board.\n\n     Your term as a director commenced on May 7, 1999 and will run through the\n2001 annual meeting of shareholders of GS Inc. You have been elected a member\nand the Chairman of the Compensation Committee and a member of the Audit\nCommittee.\n\n     As compensation for your services, you will receive:\n\n     -    $35,000 per year (the 'Annual Retainer');\n\n     -    $15,000 per year for serving on each of the Board committees of which\n          you are a member plus an additional $10,000 per year for serving as\n          Chairman of the Compensation Committee (the 'Committee Fees');\n\n     -    $1,000 for each meeting of the Board or of a Board committee that you\n          attend (the 'Meeting Fees'); and\n\n     -    an initial grant on June 23, 1999 of 3,000 fully vested restricted\n          stock units ('RSUs') under The Goldman Sachs 1999 Stock Incentive Plan\n          (the 'SIP').\n\n     For the current calendar year, the Annual Retainer is payable in GS Inc.\ncommon stock, and the Committee Fees are payable at your election in either\ncash or common stock; please let Bob Katz know your election. In respect of the\ncurrent calendar year, the cash portion of your compensation will be paid to\nyou, and the common stock portion will be delivered to you, on or before\nDecember 31, 1999. Beginning with the 2000 calendar year, the Annual Retainer\nand the Committee Fees will be paid annually in arrears in the form of fully\nvested RSUs unless we agree otherwise. The RSUs will provide for delivery of\nshares of common stock on the last business day in May in the year following\nyour retirement from the Board.\n\n     The Meeting Fees are payable in cash and will be paid to you annually in\narrears.\n\n     The number of shares of Common Stock or RSUs you receive in respect of the\nAnnual Retainer and the Committee Fees will be determined in the same manner as\ngrants to employees. All RSUs will be subject to the terms and conditions of\nthe SIP and the relevant award agreements.\n\n     We have enclosed various documents in connection with these arrangements.\nPlease sign where indicated and return them to Bob Katz in the enclosed\nenvelope. The remaining copies are for your records.\n\n                                        Very truly yours,\n\n                                        THE GOLDMAN SACHS GROUP, INC.\n\n                                        By:\/s\/ Henry M. Paulson, Jr.\n                                           ---------------------------------\n                                           Henry M. Paulson, Jr.\n                                           Chairman and Chief Executive Officer\n\n\n\n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7660],"corporate_contracts_industries":[9418],"corporate_contracts_types":[9539,9544],"class_list":["post-38775","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-goldman-sachs-group-inc","corporate_contracts_industries-financial__securities","corporate_contracts_types-compensation","corporate_contracts_types-compensation__employment"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/38775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=38775"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=38775"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=38775"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=38775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}