HCA Board of Directors 2005 Compensation and Fees Policy

Contract Categories: Human Resources › Compensation Agreements
Summary

This policy outlines the compensation structure for members of the HCA Board of Directors. Directors receive an annual retainer, meeting fees, and additional retainers for committee service and chair positions, with options to receive compensation in cash, restricted stock, or restricted stock units. Long-term incentives include stock options and restricted shares, with specific vesting schedules and provisions for acceleration or forfeiture based on termination circumstances. The policy applies to all board members and sets clear terms for how and when compensation is paid.

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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 - ------------------------------------------------------------------------------------------------------------