HCA Inc. 2006 Director 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 Inc. Directors receive an annual retainer, meeting fees, and additional retainers for committee roles, with options to receive compensation in cash, restricted stock, or share units. Long-term incentives include stock options and restricted shares, with specific vesting schedules and conditions for forfeiture or acceleration upon events like death, disability, or retirement. The policy details how and when compensation is paid and the consequences of termination.

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EX-10.1 2 g95659exv10w1.txt EX-10.1 HCA INC. 2006 DIRECTOR'S FEES/COMPENSATION POLICY . . . EXHIBIT 10.1 HCA 2006 DIRECTOR FEES/COMPENSATION POLICY
- -------------------------------------------------------------------------------- HCA BOD PAY ELEMENT RECOMMENDATIONS - ----------------------------------------------------------------------------------- Annual Retainer - $55,000 base value - Choice of cash, restricted stock (RS), or restricted share units (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 meeting - 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 - Same choices as annual retainer - All Other - $10,000 - Same choices as annual retainer - ----------------------------------------------------------------------------------- Presiding Director Retainer (annual) - $10,000 - Same choices as annual retainer - ----------------------------------------------------------------------------------- Long-Term Incentives (ongoing) - $100,000 Black-Scholes value delivered in stock options upon re-election to the Board - 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 - -----------------------------------------------------------------------------------