HEI Exhibit 10.14

 

Nonemployee Directors Compensation Schedule

Changes Effective January 1, 2011

 

	
 
    	
 
    	
Effective 1/1/2011
    	
 
    	
Until 12/31/2010
    	
 
    
	
HEI Board - Annual Cash Retainers   (paid quarterly)
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HEI Chairman of the Board
    	
 
    	
$
    	
250,000
    	
 
    	
 
    	
 
    
	
HEI Director
    	
 
    	
$
    	
65,000
    	
 
    	
$
    	
40,000
    	
 
    
	
HEI Audit Committee Chair
    	
 
    	
$
    	
15,000
    	
 
    	
 
    	
 
    
	
HEI Audit Committee Member
    	
 
    	
$
    	
6,000
    	
 
    	
 
    	
 
    
	
HEI Compensation Committee Chair
    	
 
    	
$
    	
15,000
    	
 
    	
$
    	
10,000
    	
 
    
	
HEI Compensation Committee Member
    	
 
    	
$
    	
6,000
    	
 
    	
$
    	
4,000
    	
 
    
	
HEI Nominating & Corporate Governance   Committee Chair
    	
 
    	
$
    	
10,000
    	
 
    	
$
    	
5,000
    	
 
    
	
HEI Nominating & Corporate Governance   Committee Member
    	
 
    	
$
    	
4,000
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
ASB Board - Annual Cash Retainers   (paid quarterly) ***
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
ASB Directors who are not also HEI Directors
    	
 
    	
$
    	
40,000
    	
 
    	
$
    	
25,000
    	
 
    
	
ASB Audit Committee Chair
    	
 
    	
$
    	
12,500
    	
 
    	
 
    	
 
    
	
ASB Audit Committee Member
    	
 
    	
$
    	
5,000
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HECO Board - Annual Cash   Retainers (paid quarterly) ***
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HECO Directors who are not also HEI Directors
    	
 
    	
$
    	
40,000
    	
 
    	
$
    	
25,000
    	
 
    
	
HECO Audit Committee Chair
    	
 
    	
$
    	
10,000
    	
 
    	
 
    	
 
    
	
HECO Audit Committee Member
    	
 
    	
$
    	
4,000
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HEI, ASB and HECO Committees -   Extra Meeting Fees (per add’l meeting attended) 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
HEI Audit Committee Member
    	
 
    	
$
    	
1,500
    	
*
    	
$
    	
1,250 after 8 mtgs
    	
 
    
	
ASB Audit Committee Member**
    	
 
    	
$
    	
1,000
    	
**
    	
 
    	
 
    
	
HECO Audit Committee Member**
    	
 
    	
$
    	
750
    	
**
    	
 
    	
 
    
	
HEI Compensation Committee Member
    	
 
    	
$
    	
1,500
    	
*
    	
$
    	
500 after 6 mtgs
    	
 
    
	
HEI Nominating & Corporate Governance   Committee Member
    	
 
    	
$
    	
1,500
    	
*
    	
$
    	
500 after 6 mtgs
    	
 
    


 




* Earned per extra meeting, after attending 6 meetings during the calendar year

**Earned per extra meeting, after attending 8 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 $75K
    	
 
    	
1,800 shares
    	
 
    
	
New HEI Director (one-time grant during first year   of service)
    	
 
    	
shares valued at $75K, prorated on start date
    	
 
    	
2,000 shares
    	
 
    
	
HECO and ASB only Directors -annual grant (last   day of June)
    	
 
    	
shares valued at $40K
    	
 
    	
1,000 shares
    	
 
    
	
New HECO and ASB only Directors (one-time grant   during first year of service)
    	
 
    	
shares valued at $40K, prorated on start date
    	
 
    	
1,000 shares
    	
 
    


 

*** For ASB and HECO directors who are also HEI directors, ASB and HECO will pay a pro rata portion of each such director’s total compensation (cash and equity value).