Summary of Horace Mann Educators Corporation Non-Employee Director Compensation
EX-10.10 2 dex1010.htm SUMMARY OF HMEC NON-EMPLOYEE DIRECTOR COMPENSATION Summary of HMEC Non-Employee Director Compensation
Exhibit 10.10
Summary of Horace Mann Educators Corporation Non-Employee Director Compensation
| Compensation Element | Amount | |
| Chairman Annual Retainer | $75,000 | |
| Non-Chairman Annual Retainer | $25,000 | |
| Board Meeting Fee | $1,500/live or telephonic meeting | |
| Audit Chair Retainer | $10,000 | |
| Compensation Chair Retainer | $6,000 | |
| Executive Chair Retainer | $4,000 | |
| Investment & Finance Chair Retainer | $4,000 | |
| Nominating & Governance Chair Retainer | $4,000 | |
| Committee Meeting Fee | $1,000/live or telephonic meeting ($1,500 for audit; $2,500 for audit chair) | |
| Deferred Fees | Deferred fees in the form of common stock equivalent units include a 25% matching addition. | |
| Share-based Compensation | 2,000 Restricted Stock Units (RSUs) upon joining the Board and an additional 2,000 RSUs if joining within 6 months after the prior Annual Shareholder Meeting or an additional 1,000 RSUs if joining more than 6 months after the prior Annual Shareholder Meeting but before the next Annual Shareholder Meeting 2,000 RSUs annually thereafter following the Annual Shareholder Meeting | |
| 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 following the Annual Shareholder Meeting of each year. The retainer fees are prorated to the extent that a non-employee director joins the Board after the Annual Shareholder Meeting.
