Exhibit 10.18


 


Summary of Compensation Arrangements for
Nonemployee Directors


 


The Company’s nonemployee directors are as
follows:  Robert G. Bohn, Donald G. Calder, Robin S. Callahan, Paul J.
Choquette, Jr., Terry D. Growcock, Peter L.A. Jamieson, Peter F. Krogh,
Stephen P. Munn, Gregg A. Ostrander, Lawrence A. Sala, and Magalen C.
Webert.  Mr. Munn serves as Lead
Director.  He was appointed Lead Director
effective June 25, 2007.  The
Company pays Mr. Munn an annual retainer of $300,000 for his service as a
member of the Board of Directors and as Lead Director.


 


For 2008, the annual fee paid to each
nonemployee director other than Mr. Munn was $50,000.


 


The Board has standing Executive, Audit,
Compensation, Pension and Benefits and Corporate Governance and Nominating
Committees.


 


The following table summarizes the
compensation paid to each non-employee director for his or her service to the
Board and its committees during 2008:


 


Director Compensation Table


 


	
  Name

  	
   

  	
  Fees

  Earned or

  Paid in

  Cash ($)(3)

  	
   

  	
  Stock Awards

  ($)(4)

  	
   

  	
  Option Awards

  ($)(4)(5)

  	
   

  	
  All Other

  Compensation

  ($)

  	
   

  	
  Total ($)

  	
   

  
	
  Robert G. Bohn

  	
   

  	
  $

  	
  36,250

  	
   

  	
  $

  	
  49,999

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  86,249

  	
   

  
	
  Donald G. Calder

  	
   

  	
  $

  	
  85,000

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  154,639

  	
   

  
	
  Robin S. Callahan

  	
   

  	
  $

  	
  90,000

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  159,639

  	
   

  
	
  Paul J. Choquette, Jr.

  	
   

  	
  $

  	
  81,250

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  150,889

  	
   

  
	
  Terry D. Growcock

  	
   

  	
  $

  	
  22,500

  	
   

  	
  $

  	
  49,993

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  72,493

  	
   

  
	
  Peter L.A. Jamieson

  	
   

  	
  $

  	
  75,000

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  144,639

  	
   

  
	
  Peter F. Krogh

  	
   

  	
  $

  	
  75,000

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  144,639

  	
   

  
	
  Stephen P. Munn

  	
   

  	
  $

  	
  300,000

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  48,115

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  348,115

  	
   

  
	
  Gregg A. Ostrander

  	
   

  	
  $

  	
  28,750

  	
   

  	
  $

  	
  49,998

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  78,748

  	
   

  
	
  Anthony W. Ruggiero(1)

  	
   

  	
  $

  	
  53,750

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  113,766

  	
   

  
	
  Lawrence A. Sala

  	
   

  	
  $

  	
  88,750

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  158,389

  	
   

  
	
  Eriberto R. Scocimara(2)

  	
   

  	
  $

  	
  35,000

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  44,623

  	
   

  
	
  Magalen C. Webert

  	
   

  	
  $

  	
  60,000

  	
   

  	
  $

  	
  60,016

  	
   

  	
  $

  	
  9,623

  	
   

  	
  $

  	
  0

  	
   

  	
  $

  	
  129,639

  	
   

  



 






(1)          Mr. Ruggiero resigned as a director effective September 10,
2008.


 


(2)          Mr. Scocimara retired from the Board of
Directors at the 2008 Annual Meeting on April 21, 2008 in accordance with
the retirement policy of the Board of Directors.  Because Mr. Scocimara had announced his
retirement prior to the date the restricted stock units were awarded to the
non-employee directors on February 5, 2008, Mr. Scocimara received an
award of cash, in lieu of a restricted stock unit award, prorated for the
period he served on the Board during 2008 through his retirement date.


 


(3)          The following directors received a portion of
their annual fee in Shares:  Mr. Bohn
— 1,223 Shares, Mrs. Callahan — 737 Shares, Mr. Choquette — 737
Shares, Mr. Growcock — 184 Shares, Mr. Krogh — 368 Shares, Mr. Ostrander
— 92 Shares, Mr. Sala — 368 Shares and Mrs. Webert — 368 Shares.


 


(4)          The value of the stock and option awards shown in the table is equal to
the expense reported for financial reporting purposes in 2008 (before
reflecting forfeitures).  The full grant
date value of the restricted stock units awarded on February 5, 2008 to Messrs. 


 


1

















 


Calder, Choquette, Jamieson, Krogh and Sala and to Mrs. Callahan
and Mrs. Webert was $60,016 each. 
The full grant date value of the restricted stock units awarded (i) on
May 8, 2008 to Mr. Bohn was $49,999, (ii) on August 4, 2008
to Mr. Ostrander was $49,998 and (iii) on September 10, 2008 to Mr. Growcock
was $49,993.  The full grant date value
of the restricted stock units awarded equals the amounts shown above, because
the restricted stock units were fully vested on the award date.  Note 11 to the Company’s consolidated
financial statements included in the 2008 Annual Report on Form 10-K
contains more information about the Company’s accounting for stock-based
compensation arrangements.


 


(5)          As of December 31, 2008, the directors listed in the Director
Compensation Table (other than Messrs. Ruggiero and Scocimara who were not
members of the Board of Directors on December 31, 2008) held options to
acquire Shares granted to them under the Company’s stock-based compensation
plans as follows:


 


	
   

  	
   

  	
   

  	
   

  	
  Option

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Total

  	
   

  
	
   

  	
   

  	
  Grant Date

  	
   

  	
  Exercise Price

  	
   

  	
  Exercisable(#)

  	
   

  	
  Unexercisable(#)

  	
   

  	
  Outstanding

  	
   

  
	
  Mr. Calder

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  05/04/05

  	
   

  	
  $

  	
  36.40

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  2,667

  	
   

  	
  1,333

  	
   

  	
  4,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  10,667

  	
   

  	
  1,333

  	
   

  	
  12,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mrs. Callahan

  	
   

  	
  02/04/04

  	
   

  	
  $

  	
  28.535

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  05/04/05

  	
   

  	
  $

  	
  36.40

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  2,667

  	
   

  	
  1,333

  	
   

  	
  4,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  12,667

  	
   

  	
  1,333

  	
   

  	
  14,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mr. Choquette

  	
   

  	
  12/01/99

  	
   

  	
  $

  	
  17.5938

  	
   

  	
  10,000

  	
   

  	
  -0-

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
  02/05/03

  	
   

  	
  $

  	
  20.03

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/04/04

  	
   

  	
  $

  	
  28.535

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  05/04/05

  	
   

  	
  $

  	
  36.40

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  2,667

  	
   

  	
  1,333

  	
   

  	
  4,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  24,667

  	
   

  	
  1,333

  	
   

  	
  26,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mr. Jamieson

  	
   

  	
  02/05/03

  	
   

  	
  $

  	
  20.03

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/04/04

  	
   

  	
  $

  	
  28.535

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  05/04/05

  	
   

  	
  $

  	
  36.40

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  2,667

  	
   

  	
  1,333

  	
   

  	
  4,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  14,667

  	
   

  	
  1,333

  	
   

  	
  16,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mr. Krogh

  	
   

  	
  12/01/99

  	
   

  	
  $

  	
  17.5938

  	
   

  	
  10,000

  	
   

  	
  -0-

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
  02/05/03

  	
   

  	
  $

  	
  20.03

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/04/04

  	
   

  	
  $

  	
  28.535

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  05/04/05

  	
   

  	
  $

  	
  36.40

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  2,667

  	
   

  	
  1,333

  	
   

  	
  4,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  24,667

  	
   

  	
  1,333

  	
   

  	
  26,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mr. Munn

  	
   

  	
  02/04/04

  	
   

  	
  $

  	
  28.535

  	
   

  	
  10,000

  	
   

  	
  -0-

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  20,000

  	
   

  	
  -0-

  	
   

  	
  20,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  20,000

  	
   

  	
   

  	
   

  	
  20,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  13,334

  	
   

  	
  6,666

  	
   

  	
  20,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  63,334

  	
   

  	
  6,666

  	
   

  	
  70,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mr. Sala

  	
   

  	
  11/06/02

  	
   

  	
  $

  	
  20.00

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/05/03

  	
   

  	
  $

  	
  20.03

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/04/04

  	
   

  	
  $

  	
  28.535

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  05/04/05

  	
   

  	
  $

  	
  36.40

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  2,667

  	
   

  	
  1,333

  	
   

  	
  4,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  18,667

  	
   

  	
  1,333

  	
   

  	
  20,000

  	
   

  



 


2

















 


	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Mrs. Webert

  	
   

  	
  12/01/99

  	
   

  	
  $

  	
  17.5938

  	
   

  	
  10,000

  	
   

  	
  -0-

  	
   

  	
  10,000

  	
   

  
	
   

  	
   

  	
  02/05/03

  	
   

  	
  $

  	
  20.03

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/04/04

  	
   

  	
  $

  	
  28.535

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/02/05

  	
   

  	
  $

  	
  32.09

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  05/04/05

  	
   

  	
  $

  	
  36.40

  	
   

  	
  2,000

  	
   

  	
  -0-

  	
   

  	
  2,000

  	
   

  
	
   

  	
   

  	
  02/08/06

  	
   

  	
  $

  	
  34.43

  	
   

  	
  4,000

  	
   

  	
  -0-

  	
   

  	
  4,000

  	
   

  
	
   

  	
   

  	
  02/07/07

  	
   

  	
  $

  	
  41.87

  	
   

  	
  2,667

  	
   

  	
  1,333

  	
   

  	
  4,000

  	
   

  
	
  Total

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  24,667

  	
   

  	
  1,333

  	
   

  	
  26,000

  	
   

  



 


3