Effective 1/1/2011

Effective 1/1/2011

Until 12/31/2010

HEI Board - Annual Cash Retainers (paid quarterly)

HEI Chairman of the Board

$

250,000

HEI Director

$

65,000

$

40,000

HEI Audit Committee Chair

$

15,000

HEI Audit Committee Member

$

6,000

HEI Compensation Committee Chair

$

15,000

$

10,000

HEI Compensation Committee Member

$

6,000

$

4,000

HEI Nominating & Corporate Governance Committee Chair

$

10,000

$

5,000

HEI Nominating & Corporate Governance Committee Member

$

4,000

ASB Board - Annual Cash Retainers (paid quarterly) ***

ASB Directors who are not also HEI Directors

$

40,000

$

25,000

ASB Audit Committee Chair

$

12,500

ASB Audit Committee Member

$

5,000

HECO Board - Annual Cash Retainers (paid quarterly) ***

HECO Directors who are not also HEI Directors

$

40,000

$

25,000

HECO Audit Committee Chair

$

10,000

HECO Audit Committee Member

$

4,000

HEI, ASB and HECO Committees - Extra Meeting Fees (per add’l meeting attended)

HEI Audit Committee Member

$

1,500

*

$

1,250 after 8 mtgs

ASB Audit Committee Member**

$

1,000

**

HECO Audit Committee Member**

$

750

**

HEI Compensation Committee Member

$

1,500

*

$

500 after 6 mtgs

HEI Nominating & Corporate Governance Committee Member

$

1,500

*

$

500 after 6 mtgs

HEI, ASB and HECO Boards - Equity Compensation ***

HEI Director - annual grant (paid on last day of June)

shares valued at $75K

1,800 shares

New HEI Director (one-time grant during first year of service)

shares valued at $75K, prorated on start date

2,000 shares

HECO and ASB only Directors -annual grant (last day of June)

shares valued at $40K

1,000 shares

New HECO and ASB only Directors (one-time grant during first year of service)

shares valued at $40K, prorated on start date

1,000 shares