The Hanover Insurance Group, Inc. 2013-2014 Compensation of Non-EmployeeDirectors For the annual service period beginning on May 14, 2013, the date of the 2013 Annual Meeting ofShareholders
EX-10.1 2 d542228dex101.htm EX-10.1 EX-10.1
Exhibit 10.1
The Hanover Insurance Group, Inc.
2013-2014 Compensation of Non-Employee Directors
— For the annual service period beginning on May 14, 2013, the date of the 2013 Annual Meeting of Shareholders—
| Standard Fees | Description | |
| Annual Director Retainer | ||
| - Stock Component | - $115,000 valuation | |
| - Granted on May 14, 2013. Issued pursuant to Company’s 2006 Long-Term Incentive Plan (the “2006 Plan”) | ||
| - Cash Component | - $75,000 | |
| - Payable on or after May 14, 2013 | ||
| Committee Chairperson Annual Retainer | - $9,000 for the chairperson of the Nominating and Corporate Governance Committee, payable on or after May 14, 2013 | |
| - $12,500 for the chairperson of the Compensation Committee, payable on or after May 14, 2013 | ||
| - $20,000 for the chairperson of the Audit Committee, payable on or after May 14, 2013 | ||
| Chairman of the Board Retainer | - $100,000 - Payable on or after May 14, 2013 | |
| Committee Annual Retainer | - $4,500 for each member of the Nominating and Corporate Governance Committee, payable on or after May 14, 2013 | |
| - $6,250 for each member of the Compensation Committee, payable on or after May 14, 2013 | ||
| - $10,000 for each member of the Audit Committee, payable on or after May 14, 2013 | ||
| Other | ||
| Deferred Compensation Plan | - Directors may defer receipt of their cash and stock compensation. Deferred cash amounts are accrued in a memorandum account that is credited with interest derived from the so-called General Agreement on Tariffs and Trade (GATT) Rate (2.80% in 2013). At the election of each director, cash deferrals of retainers may be converted to Common Stock of the Company with such stock issued pursuant to the 2006 Plan | |
| Conversion Program | - At the election of each director, cash retainers may be converted into Common Stock of the Company with such stock issued pursuant to the 2006 Plan | |
| Reimbursable Expenses | - Travel and related expenses incurred in connection with service on the Board of Directors and its Committees | |
| Matching Charitable Contributions | - Company will provide matching contributions to qualified charitable organizations up to $5,000 per director per year | |
