HCA 2007 Directors' Fees and Compensation Policy

Contract Categories: Human Resources › Compensation Agreements
Summary

This policy outlines the compensation structure for members of the Board of Directors of HCA. Directors receive an annual retainer, with the option to take payment in cash, restricted stock, or restricted stock units, and additional fees for attending board and committee meetings. Committee members and chairs receive extra annual retainers, and long-term incentives are provided through restricted stock units and stock options, subject to specific vesting schedules and conditions. The policy also details how compensation is affected by events such as termination, death, disability, or retirement.

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EX-10.1 2 g01844exv10w1.txt EX-10.1 DIRECTORS' FEES/COMPENSATION POLICY . . . EXHIBIT 10.1 HCA 2007 DIRECTORS' FEES/COMPENSATION POLICY
- ------------------------------------------------------------------------------------------------------------ HCA BOD PAY ELEMENT RECOMMENDATIONS - ------------------------------------------------------------------------------------------------------------ Annual Retainer - $55,000 base value - Choice of cash, restricted stock (RS), or RSUs - 25% premium for RS or RSUs with 2-year cliff vesting - Pro-rata acceleration upon death or disability - Immediate forfeiture of RS or RSUs upon voluntary or involuntary termination - ------------------------------------------------------------------------------------------------------------ Board Meeting Fees - $2,000 per Committee - Paid in cash - ------------------------------------------------------------------------------------------------------------ Committee Member Retainer (annual) - $3,000 per Committee - Same choices as annual retainer - ------------------------------------------------------------------------------------------------------------ Committee Meeting Fees - $1,500 per meeting (all members) - Paid in cash - ------------------------------------------------------------------------------------------------------------ Committee Chair Retainer (annual) - Audit - $20,000 - All Other - $10,000 - Same choices as annual retainer - ------------------------------------------------------------------------------------------------------------ Presiding Director Retainer (annual) - $10,000 - Same choices as annual retainer - ------------------------------------------------------------------------------------------------------------ Long-Term Incentives (ongoing) - $50,000 value delivered in RSUs and $50,000 Black-Scholes value delivered in stock options and upon re-election to the Board - 2 year cliff vesting for RSUs - Options - 10-year term - Vest 20% per year, with 1st year vesting immediately - Immediate vesting upon termination due to change in control, death, disability, or retirement - Immediate forfeiture of vested and unvested options upon termination due to cause - Immediate forfeiture of unvested options at voluntary or involuntary termination - Ability to exercise options within 1 year of termination due to death or disability and within 3 years of retirement - ------------------------------------------------------------------------------------------------------------ Long-Term Incentives (initial) - 5,000 Restricted Shares, upfront grant for new Directors only - 3-year ratable vesting - ------------------------------------------------------------------------------------------------------------