Summary of Non-Employee Director Compensation for Horace Mann Educators Corporation

Contract Categories: Human Resources › Compensation Agreements
Summary

This document outlines the compensation structure for non-employee directors of Horace Mann Educators Corporation. Directors receive annual retainers, meeting fees, and additional compensation for committee roles. Fees can be deferred as stock equivalents with a 25% match. Directors must meet stock ownership guidelines within five years and retain certain shares until requirements are met. Compensation is prorated for directors joining after May.

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EX-10.11 2 dex1011.htm SUMMARY OF HMEC NON-EMPLOYEE DIRECTOR COMPENSATION Summary of HMEC Non-Employee Director Compensation

Exhibit 10.11

 

Summary of Horace Mann Educators Corporation Non-Employee Director Compensation

 

Compensation Element

   

Amount

Chairman Annual Retainer    $75,000
Board Member Annual Retainer    $25,000
Board Meeting Fee    $1,500/live or telephonic meeting
Committee Chair Retainer    $4,000/committee (audit chair is $7,500)
Committee Meeting Fee    $1,000/meeting ($1,500 for audit; $2,500 for audit chair)
Deferred Fees    Deferred fees in the form of common stock equivalents units include a 25% matching addition.
Stock Ownership Guidelines    2x annual cash retainer within 5 years; must retain all restricted shares (net of taxes) until guideline is met

 

Retainer fees are paid in May of each year. The retainer fees are prorated to the extent that a non-employee director joins the Board after May.