EX-10.24 HCA DIRECTORS' 2005 COMPENSATION/FEES POLICY
EX-10.24 4 g93199exv10w24.txt EX-10.24 HCA DIRECTORS' 2005 COMPENSATION/FEES POLICY . . . EXHIBIT 10.24 HCA BOARD OF DIRECTOR COMPENSATION HCA BOD PAY ELEMENT RECOMMENDATIONS - ------------------------------------------------------------------------------------------------------------ Annual Retainer - $55,000 base value - Choice of cash, restricted stock (RS) or restricted stock units (RSUs) - 25% premium for RS or RSUs with 2-year cliff vesting - Pro-rata acceleration upon death or disability - Immediate forfeiture of RS 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 - All Other - $10,000 - Same choices as annual retainer - ------------------------------------------------------------------------------------------------------------ Long-Term Incentives (ongoing) - $100,000 Black-Scholes value delivered in stock options following 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 - ------------------------------------------------------------------------------------------------------------
