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. Compensation includes cash payments and restricted stock units, with deferred fees matched in stock equivalents. Directors are required to meet stock ownership guidelines within five years. Retainer fees are paid annually in May and are prorated for new directors joining after May.

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EX-10.10 6 dex1010.htm SUMMARY OF HORACE MANN EDUCATORS CORP. NON-EMPLOYEE DIRECTOR COMPENSATION Summary of Horace Mann Educators Corp. 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

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.

Share-based Compensation

    2,000 Restricted Stock Units (RSUs) upon joining the Board and 2,000 RSUs annually thereafter in May

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.