HEI Nonemployee Director Compensation Schedule as of April 1, 2005
This schedule outlines the compensation for nonemployee directors of HEI and its subsidiaries as of April 1, 2005. Directors receive annual cash retainers, additional fees for serving as committee chairs or members, and annual or one-time grants of HEI common stock. Compensation varies depending on the board and committee roles held. Advisory board members are paid per meeting attended. The schedule specifies the amounts and types of compensation for each position and board.
HEI Exhibit 10.3
NONEMPLOYEE DIRECTOR’S COMPENSATION SCHEDULE
As of April 1, 2005
HEI
| paid quarterly | ||
| Annual Cash Retainer | 32,500 | |
| Chair, HEI Audit Committee | 15,000 | |
| Member, HEI Audit Committee | 5,000 | |
| Chair, HEI Compensation Committee | 5,000 | |
| Chair, HEI Nominating & Corporate Governance Committee | 5,000 | |
| Lead Director | 10,000 | |
| HEI Common Stock annual grant | 1,400 shares | |
| HEI Common Stock one-time grant for new directors | 2,000 shares | |
ASB & HECO
| paid quarterly | ||
| Annual Cash Retainer (for HEI & non-HEI directors, for each board served) | 20,000 | |
| Chair, Audit Committee | 10,000 | |
| Member, Audit Committee | 4,000 | |
| HEI Common Stock annual grant | 1,000 shares | |
| HEI Common Stock one-time grant for new directors | 600 shares | |
HELCO & MECO Advisory Boards
| $1,000 for each meeting, no retainer |
