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