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). | ||