Seven Hills Realty Trust Trustee Compensation Summary
This document outlines the compensation structure for Trustees of Seven Hills Realty Trust. Independent Trustees receive an annual fee of $60,000, with additional fees for serving as committee chairs or as Lead Independent Trustee. Trustees are also granted 6,000 common shares annually and are reimbursed for travel and certain educational expenses. The compensation terms can be changed at any time by the Board or its Compensation Committee.
Exhibit 10.7
Seven Hills Realty Trust
Summary of Trustee Compensation
The following is a summary of the currently effective compensation of the Trustees of Seven Hills Realty Trust (the “Company”) for services as Trustees, which is subject to modification at any time by the Board of Trustees (the “Board”) or the Compensation Committee of the Board, as applicable:
| · | Each Independent Trustee receives an annual fee of $60,000 for services as a Trustee. The annual fee for any new Independent Trustee is prorated for the initial year. |
| · | Each Independent Trustee who serves as a committee chair of the Board’s Audit Committee, Compensation Committee or Nominating and Governance Committee receives an additional annual fee of $15,000, $10,000 and $10,000, respectively. The committee chair fee for any new committee chair is prorated for the initial year. |
| · | The Lead Independent Trustee receives an additional annual cash retainer fee of $12,500 for serving in this role. |
| · | Each Trustee receives a grant of 6,000 of the Company’s common shares of beneficial interest on the date of the first Board meeting following each annual meeting of shareholders (or, for Trustees who are first elected or appointed at other times, on the day of the first Board meeting attended). |
| · | The Company generally reimburses all Trustees for travel expenses incurred in connection with their duties as Trustees and for out of pocket costs incurred in connection with their attending certain continuing education programs. |
