by New Jersey Resources Corporation
September 18th, 2012

Exhibit 10.7

Summary of New Jersey Resources Corporation Non-Employee Director Compensation
Annual Cash Retainer Fee (All independent directors except Lead Director):
Annual Cash Retainer- Lead Director
Annual Equity Retainer (in common stock equivalent)†

Annual Retainer for Committee Chairs:
Audit Committee Chair:
Executive Committee Chair:
Leadership Development and Compensation Committee Chair:
Nominating/Corporate Governance Committee Chair:
Annual Retainer - Committee Member:
Audit Committee
Leadership Development and Compensation Committee
$ 6,000
Nominating/Corporate Governance Committee
$ 6,000
Annual Retainer for Subsidiary Board Lead Director*
$ 5,000
Annual Retainer for Subsidiary Board Member
$ 9,000

In the event of extraordinary circumstances resulting in an excessive number of Board or Committee meetings beyond the typical number of meetings of a Board or Committee in a given year, the Board retains discretion to pay an additional per meeting fee of $1,500 to each attending non-employee director that is a member of such Board or Committee.

The number of shares to be based upon the closing price of a share of the Company's common stock on the date of the grant.
*Subsidiary Boards include New Jersey Natural Gas, NJR Energy Services, NJR Clean Energy Ventures and NJR Energy Investments.
**Subsidiary Board Member Annual Retainers and any additional meeting fees are based upon each member only being compensated for one meeting when joint Boards of Directors meetings occur.