Horace Mann Educators Corporation Non-Employee Director Compensation Summary
This document outlines the compensation structure for non-employee directors of Horace Mann Educators Corporation. Directors receive annual cash retainers, meeting fees, and additional compensation for committee roles. Compensation includes deferred fees in stock equivalents with a matching addition, and restricted stock units are granted upon joining and annually. 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.
Exhibit 10.1
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.
