HCA Board of Director Compensation Policy

Summary

This document outlines the compensation policy for members of the HCA Board of Directors. Directors receive an annual retainer, meeting fees, and additional compensation for committee participation and chair roles, with options to receive payment in cash, restricted stock, or restricted stock units. Long-term incentives include stock options and restricted shares, with specific vesting schedules and conditions for forfeiture or acceleration upon certain events such as termination, death, or disability. The policy details how and when compensation is paid and the terms for equity awards.

EX-10.24 4 g87412exv10w24.txt EX-10.24 COMPENSATION/FEES POLICY EXHIBIT 10.24 HCA BOARD OF DIRECTOR COMPENSATION - -------------------------------------------------------------------------------- HCA BOD PAY ELEMENT RECOMMENDATIONS - -------------------------------------------------------------------------------- Annual Retainer - $50,000 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 - $1,500 per meeting - Paid in cash - -------------------------------------------------------------------------------- Committee Member Retainer (annual) - $3,000 per Committee - Same choices as annual retainer - -------------------------------------------------------------------------------- Committee Meeting Fees - $1,200 per meeting - Paid in cash - -------------------------------------------------------------------------------- Committee Chair Retainer (annual) - Audit - $20,000 - All Other - $ 7,500 - Same choices as annual retainer - -------------------------------------------------------------------------------- Committee Chair Meeting Fees - $1,500 per meeting - Paid in cash - -------------------------------------------------------------------------------- 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 - --------------------------------------------------------------------------------