EX-10.14 3 heiexhibit1014201810-k.htm EXHIBIT 10.14
HEI Exhibit 10.14

Nonemployee Directors Compensation Schedule |
Effective January 1, 2019 |
HEI Board - Annual Cash Retainers (paid quarterly) |  |
| Effective 1/1/2019 |
HEI Chairman of the Board | $250,000 |
HEI Director | $75,000 |
HEI Audit Committee Chair | $20,000 |
HEI Audit Committee Member | $10,000 |
HEI Compensation Committee Chair | $20,000 |
HEI Compensation Committee Member | $10,000 |
HEI NCG Committee Chair | $20,000 |
HEI NCG Committee Member | $10,000 |
ASB Board - Annual Cash Retainers (paid quarterly) *** |  |
ASB Directors who are not also HEI Directors | $45,000 |
ASB Audit Committee Chair | $15,000 |
ASB Audit Committee Member | $7,500 |
ASB Risk Committee Chair | $20,000 |
ASB Risk Committee Member | $10,000 |
HECO Board - Annual Cash Retainers (paid quarterly) *** |  |
HECO Directors who are not also HEI Directors | $45,000 |
HECO Audit Committee Chair | $15,000 |
HECO Audit Committee Member | $7,500 |
Extra Meeting Fees (per additional meeting) |
HEI Board Member | $1,500 | (A)
HEI Audit Committee Member | $1,500 | (B)
HEI Compensation Committee Member | $1,500 | (C)
HEI NCG Committee Member | $1,500 | (C)
HECO/ASB Board Member | $1,000 | (A)
ASB Audit Committee Member | $1,000 | (B)
HECO Audit Committee Member | $1,000 | (C)
ASB Risk Committee Member | $1,000 | (C)
(A) Earned per extra meeting, after attending 8 meetings during the calendar year |  |
(B) Earned per extra meeting, after attending 10 meetings during the calendar year |
(C) Earned per extra meeting, after attending 6 meetings during the calendar year |
HEI, ASB and HECO Boards - Equity Compensation *** |
HEI Director - annual grant (paid on last day of June) | shares valued at $100K |
HECO and ASB only Directors - annual grant (last day of June) | shares valued at $55K |
New Directors (one-time grant during first year of service -- prorated from start date to annual meeting) | portion of annual grant, prorated on start date |
*** For ASB and HECO directors who are also HEI directors, ASB and HECO pay |
a pro rata portion of each such director's total compensation (cash and equity value). |