"Cash retainers" refers to a payment made in advance to retain or secure the services of someone, usually a professional or consultant, for a specific period of time or project. It ensures that the person will be available and committed to fulfilling the agreed-upon tasks.
Full definition
non-executive Chairman of the Board annual
cash retainer of $ 212,500 and an annual equity award with a market value of approximately $ 212,500, with the value delivered 50 % in RSUs and 50 % in OSUs
Clients are generally not pleased when they find out a fixed fee only applies to matters covered by the legal management plan and they might have to pay an additional fixed fee or an hourly fee to cover the extra services; unnecessary communications are discouraged; they have less control over who works on their files; an
advance cash retainer is required; and fees are payable anyways on a monthly or interim basis.
• An
upfront cash retainer proportionate to the size of the total retainer and periodic billing as the services are provided is also critical.
A few of their data points for average annual
cash retainers, meeting fees and additional Chair compensation for companies with revenues under $ 100 million are compared to our survey here.
@feetwet your edit has removed a significant fact from the narrative, namely
the cashed retainer check.
Seventh, ask for
cash retainers.
Cash retainers are essential when you deal with an out - of - state or small local company.
That figure covered directors»
cash retainers, the amount of annual equity awards (stock payments), and board meeting fees, but not committee fees, says Jeremy Banoff, senior director of FPL Associates Compensation, a Chicago affiliate of Ferguson's FPL Advisory Group.