HEI Nonemployee Directors Compensation Schedule Effective January 1, 2014

Summary

This document outlines the compensation schedule for nonemployee directors of Hawaiian Electric Industries, Inc. (HEI), American Savings Bank (ASB), and Hawaiian Electric Company (HECO) effective January 1, 2014. It details annual cash retainers, extra meeting fees, and equity grants for board and committee service. Compensation varies by role and board, with additional fees for extra meetings and prorated equity grants for new directors. Directors serving on multiple boards receive pro rata compensation. The schedule ensures transparent and structured payment for board service.

EX-10.14 4 heiexhibit1014.htm EXHIBIT 10.14 Exhibit


HEI Exhibit 10.14
Nonemployee Directors Compensation Schedule
 
Effective January 1, 2014
 
 
 
 
HEI Board - Annual Cash Retainers (paid quarterly)
 
 
HEI Chairman of the Board
 
$250,000
 
HEI Director
 
$65,000
 
HEI Audit Committee Chair
 
$15,000
 
HEI Audit Committee Member
 
$6,000
 
HEI Compensation Committee Chair
 
$15,000
 
HEI Compensation Committee Member
 
$6,000
 
HEI NCG Committee Chair
 
$10,000
 
HEI NCG Committee Member
 
$4,000
 
ASB Board - Annual Cash Retainers (paid quarterly) *
 
 
ASB Directors who are not also HEI Directors
 
$40,000
 
ASB Audit Committee Chair
 
$10,000
 
ASB Audit Committee Member
 
$4,000
 
ASB Risk Committee Chair
 
$10,000
 
ASB Risk Committee Member
 
$4,000
 
HECO Board - Annual Cash Retainers (paid quarterly) *
 
 
HECO Directors who are not also HEI Directors
 
$40,000
 
HECO Audit Committee Chair
 
$10,000
 
HECO Audit Committee Member
 
$4,000
 
Extra Meeting Fees (per additional meeting)
 
HEI Board Member
 
$1,500
(A)
HEI Audit Committee Member
 
$1,500
(B)
HEI Compensation Committee Member
 
$1,500
(C)
HEI NCG Committee Member
 
$1,500
(C)
HECO/ASB Board Member
 
$1,000
(A)
ASB Audit Committee Member
 
$1,000
(B)
HECO Audit Committee Member
 
$1,000
(C)
ASB Risk Committee Member
 
$1,000
(C)
(A) Earned per extra meeting, after attending 8 meetings during the calendar year
 
 
(B) Earned per extra meeting, after attending 10 meetings during the calendar year
 
 
(C) Earned per extra meeting, after attending 6 meetings during the calendar year
 
 
 
 
 
HEI, ASB and HECO Boards - Equity Compensation *
 
HEI Director - annual grant (paid on last business day of June)
shares valued at $75K
 
HECO and ASB only Directors - annual grant (last business day of June)
shares valued at $40K
 
New Directors (one-time grant during first year of service -- prorated)
portion of annual grant, prorated on start date
 
 
 
 
 
* For ASB and HECO directors who are also HEI directors, ASB and HECO pay
 
 
 a pro rata portion of each such director's total compensation (cash and equity value).