Senior Housing Properties Trust Trustee Compensation Summary
This document outlines the compensation for Trustees of Senior Housing Properties Trust. Independent Trustees receive an annual fee of $75,000, with additional fees for serving as committee chairs or as Lead Independent Trustee. Trustees also receive an annual grant of 3,000 common shares and are reimbursed for travel and certain education expenses. Compensation may be modified by the Board or its Compensation Committee at any time.
Exhibit 10.1
SENIOR HOUSING PROPERTIES TRUST
Summary of Trustee Compensation
The following is a summary of the currently effective compensation of the Trustees of Senior Housing Properties 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 $75,000 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 $17,500, $12,500 and $12,500, 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 $15,000 for serving in this role.
· Each Trustee receives a grant of 3,000 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.
