Summary of HMEC Non-employee Director Compensation

Contract Categories: Human Resources - Compensation Agreements
EX-10.7 2 a63020ex107.htm EXHIBIT 10.7 Exhibit

Exhibit 10.7

Director Compensation
The compensation program for non-employee Directors is shown in the following table:
Compensation Element
Non-Employee Director Compensation (1)(2)
Board Chairman Annual Retainer
Board Member Annual Retainer
(other than Board Chairman)
Audit Committee Chair Retainer
All Other Committee Chair Retainers
Technology Liaison
Share-based Compensation
Fair value on the date of the respective awards is used to determine the number of Restricted Stock Units ("RSUs") awarded.
An annual award of $110,000 in RSUs following the Annual Shareholder Meeting. $110,000 in RSUs if joining the Board within six months after the prior Annual Shareholder Meeting, $55,000 in RSUs if joining more than six months after the prior Annual Shareholder Meeting but before the next Annual Shareholder Meeting.
All awards have a 1-year vesting period.
Basic Group Term Life Insurance
Premium for $10,000 face amount
Business Travel Accident Insurance
Premium for $100,000 coverage
Annual retainer fees are paid following the Annual Shareholder Meeting each year. The annual retainer fees are prorated to the extent that a non-employee Director joins the Board after the Annual Shareholder Meeting.
Non-employee Directors may elect to defer cash compensation into RSUs.

Last Revision Date: May 20, 2020