Summary of Compensatory Arrangements for Non-Employee Directors of Heartland
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Summary
This document outlines the compensation for non-employee directors of Heartland. Directors receive a $50,000 annual retainer, with additional payments for serving as lead independent director or committee chair. They also receive fees for attending meetings and an annual equity award of restricted stock units valued at $75,000, which vest after one year or at the next annual meeting. Directors are reimbursed for travel and business-related expenses incurred while performing their duties.
EX-10.64 4 exhibit1064summaryofcompen.htm EXHIBIT Exhibit 10.64 Summary of Compensary Arrangements
EXHIBIT 10.64
The table below sets forth the compensatory arrangements with the non-employee directors of the Company:
Annual Retainer…………………… | $50,000 |
Lead independent director……… | Additional $15,000 annual retainer |
Audit committee chairman…… | Additional $15,000 annual retainer |
Compensation committee chairman. | Additional $7,500 annual retainer |
Nominating and Corporate Governance committee chairman. | Additional $7,500 annual retainer |
Per in-person committee meeting | Additional $2,000 |
Per telephonic committee meeting | Additional $1,000 |
Annual Equity Compensation | equity worth $75,000 in the form of restricted stock units (100% vests upon the earlier of the one year anniversary of the date of grant or the last business day preceding our next annual meeting ) |
In addition, Heartland reimburses directors for travel expenses incurred in connection with attending board of directors, committee and stockholder meetings and for other Heartland business-related expenses.
