Document:

Exhibit

2017 DIRECTORS ANNUAL COMPENSATION PROGRAM
AXIS Capital Holdings Limited (the “Company”) has established the 2017 Directors Annual Compensation Program (the “Program”) to compensate the directors of the Company for their service to the Board of Directors (the “Board”) and its committees.  The terms of the Program are as set forth herein.
1.Eligibility.  Any member of the Board who is not an employee of the Company or any of its subsidiaries shall be entitled to the compensation specified herein and shall be a “Participant” in the Program from and after January 1, 2017 or, if later, the date on which such person becomes a member of the Board and is otherwise eligible to participate in the Program.  

2.Compensation.  Each Participant shall be entitled to a retainer amount determined annually by the Board, in consultation with the Compensation Committee of the Board (the “Committee”) based upon service on January 1 of the service year consisting of:  (i) an annual retainer for board service (including additional retainers for service as Lead Independent Director and for service as non-employee Chairman of the Board if applicable); and (ii) an annual retainer for committee service (including additional retainers for service as committee chair if applicable) in each case as set forth on Attachment A hereto.   

3.Election of Common Shares in Lieu of Cash. Participants may elect to receive common shares of the Company in lieu of:  (i) all or 50% of the aggregate amount of annual retainers for board service; and (ii) all or 50% of the aggregate amount of annual retainers for committee service otherwise payable to them by notifying the Company of such election prior to January 1 of the year for which the election will be effective.  The number of common shares issued to Participants pursuant to such election will be based on the closing fair market value of the shares of the Company’s common stock on the tenth trading day in January of each year.  

4.Payment.  Prior to January 31, Participants shall receive a lump sum payment of the annual retainers for that year (or, in the case of any person who becomes a Participant after January 31 of a fiscal year, as soon as practicable after the date on which such person becomes a Participant, the annual retainers will be pro-rated as provided for in Attachment A).  No retainers will be recouped in the event board service or committee service ceases prior to the end of the applicable service year.   

5.Interpretation of Program.  The Committee shall have the authority to administer and to interpret the Program.  Any such determinations or interpretations made by the Committee shall be binding on all Participants. 

6.Governing Law.  The Program shall be governed by the laws of Bermuda.  

7.Successors.  All obligations of the Company under the Program shall be binding on any successor to the Company, whether the existence of such successor is the result of a direct or indirect merger, consolidation, purchase of all or substantially all of the business and/or assets of the Company or otherwise.

8.Amendment and Termination.  This Program may be amended or terminated at any time by the Board; provided, that no amendment shall be given effect to the extent that it would have the effect of reducing a Participant’s existing awards under the Program.

    

ATTACHMENT A

AXIS CAPITAL HOLDINGS LIMITED
NON-EMPLOYEE DIRECTOR COMPENSATION
 
(effective as of January 1, 2017)
 
Compensation
 
		
	1)
	Annual retainer of $200,000 for all non-employee directors serving on the Board as of January 1, 2017.  Members of the Board who become Participants after January 1 of any year shall be entitled to a pro-rated amount based on months of service in that year, with eligibility for the full annual retainer commencing as of January 1 of the subsequent year.

		
	2)
	Committee members receive the following annual retainer payment:

    	
				
	Committee Member
	 
	Annual Retainer

	Corporate Governance and Nominating Committee
	 
	$
	7,500

	Finance Committee
	 
	$
	10,000

	Compensation Committee
	 
	$
	10,000

	Risk Committee
	 
	$
	10,000

	Audit Committee
	 
	$
	15,000

		
	3)
	Committee Chairs receive the following additional annual retainer payment:

    	
					
	Committee Chair
	 
	Annual Retainer
	 

	Corporate Governance and Nominating Committee
	 
	$
	7,500
	 

	Finance Committee
	 
	$
	10,000
	 

	Compensation Committee
	 
	$
	15,000
	 

	Risk Committee
	 
	$
	20,000
	 

	Audit Committee
	 
	$
	30,000
	 

 
		
	4)
	The Lead Independent Director receives an additional annual retainer payment of $15,000.

		
	5)
	In addition to the compensation described above that is payable to non-employee directors, a non-employee Chairman of the Board shall receive an additional annual retainer of $150,000, pro-rated based on months of service as Chairman of the Board in the applicable year. 

     
Equity Compensation in lieu of Cash
 
Each non-employee director may elect to receive common shares of the Company in lieu of:  (i) all or 50% of their aggregate annual retainers for board service; and (ii) all or 50% of their aggregate annual retainers for committee service, based on the closing fair market value of the Company’s common shares as of the tenth trading day in January of each year, pursuant to the elections made under a Participation Agreement.Exhibit 10.11

 EXHIBIT 10.11 

HealthStream, Inc. (the “Company”) 

Summary of Director and Executive Officer Compensation 

I. Director Compensation. Directors who are employees of the Company do not receive additional compensation for serving as directors of the Company.
The following table sets forth current rates of cash compensation for the Company’s non-employee directors. For fiscal year 2017, each director will receive an annual retainer of $5,000, except for the Audit Committee Chair and Nominating and
Corporate Governance Chair, who will receive an additional annual retainer of $7,500, and the Compensation Committee Chair, who will receive an additional annual retainer of $2,000. Non-employee directors will also receive a $15,000 flat-fee for
board and committee meeting attendance and participation in lieu of per meeting fees. 
 In addition to the cash compensation set forth above, each
non-employee director is eligible to receive a nondiscretionary annual grant of restricted share units. The restricted share units are granted annually and vest ratably over a three year period. 

II. Executive Officer Compensation. The following table sets forth the current base salaries and fiscal 2016 performance bonuses provided to our
executive officers, including the individuals who the Company expects to be its Named Executive Officers for 2016. 
  

					
	 Executive Officer
	  	Current Base Salary	  	Fiscal 2016 Bonus Amount
	 Robert A. Frist, Jr.
	  	$310,000	  	$ —
	 J. Edward Pearson
	  	$293,000	  	$ —
	 Michael Sousa
	  	$283,000	  	$ —
	 Gerard M. Hayden, Jr.
	  	$268,000	  	$ —
	 Jeffrey S. Doster
	  	$265,000	  	$ —
	 Thomas Schultz
	  	$214,000	  	N/A

 Base salary adjustments for 2017, bonus targets for 2017 cash bonuses, and 2017 equity grants for executive officers have not
yet been determined by the Compensation Committee. 
 III. Additional Information. The foregoing information is summary in nature. Additional
information regarding Director and Named Executive Officer compensation will be contained in the Company’s 2017 Proxy Statement.EX-10.19

 EXHIBIT 10.19 

HEALTHSTREAM, INC. 

RESTRICTED SHARE UNIT AGREEMENT 

This RESTRICTED SHARE UNIT AGREEMENT (this “Agreement”) is made and entered into as of the [●] day of December, 2016
(the “Grant Date”), between HealthStream, Inc., a Tennessee corporation (together with its Subsidiaries and Affiliates, the “Company”), and Michael Sousa (the “Grantee”). Capitalized terms not otherwise defined
herein shall have the meaning ascribed to such terms in the HealthStream, Inc. 2016 Omnibus Incentive Plan (the “Plan”). 

WHEREAS, the Company has adopted the Plan, which permits the issuance of Restricted Share Units; and 

WHEREAS, the Compensation Committee of the Board of Directors of the Company (the “Committee”) is responsible
for administering the Plan and has determined that it would be to the advantage and best interest of the Company and its shareholders to grant an award of the RSUs (as defined below) as a “Restricted Share Unit Award” as defined by and
pursuant to the terms of the Plan, and pursuant to the terms set forth herein; 
 NOW, THEREFORE, the parties hereto agree as follows: 

1.    Grant of Restricted Share Unit Award.  

1.1    The Company hereby grants to the Grantee an award (“Award”) of 4,250 Restricted Share Units
(“RSUs”) on the terms and conditions set forth in this Agreement and as otherwise provided in the Plan. Each RSU shall have a value equal to the Fair Market Value of one Share. A bookkeeping account will be maintained by the Company
to keep track of the RSUs. 
 1.2    The Grantee’s rights with respect to any unvested portion of the Award shall
remain forfeitable at all times prior to the dates on which the RSUs shall vest in accordance with Section 2 hereof. This Award may not be assigned, alienated, pledged, attached, sold or otherwise transferred or encumbered
by Grantee other than by will or the laws of descent and distribution. 
 2.    Vesting and Payment. 

Vesting. Up to 4,250 of the RSUs subject to this Award shall vest on March 15, 2020 (the “Vesting Date”), as
follows, subject to the time-based vesting condition set forth in the last sentence of this Section 2.1, and based on the extent of the satisfaction of the Performance Criteria (as defined on Exhibit A) for the
period beginning on January 1, 2017 and ending December 31, 2019, as referenced on Exhibit A. Notwithstanding the foregoing or anything contained herein to the contrary (but subject to Section 2.2 below),
this Award shall not become vested as to any RSUs that have not vested as of the time of the Grantee’s termination of employment with the Company for any reason and Grantee shall forfeit any unvested RSUs as of the date of such termination of
employment. 
 2.1    Change in Control. Notwithstanding the foregoing, except as may otherwise be determined by
the Committee, upon the occurrence of a Change in Control (as defined in the Plan), this Award shall become vested immediately prior to a Change in Control as to 100% of the RSUs for which the Vesting Date has not yet occurred (it being understood
that, in such circumstance, Grantee will not be entitled to any RSUs that have not vested in respect of any Vesting Dates preceding the occurrence of the Change of Control). 

2.2    Settlement. The Grantee shall be entitled to settlement of the RSUs subject to this Award at the time that
such RSUs vest pursuant to Section 2.1 or Section 2.2, as applicable. Such settlement shall be made as promptly as practicable thereafter (but in no event after the fifteenth day following the
applicable vesting date, or in the case of a Change in Control, the date of the occurrence of the Change in Control) through the issuance of Shares to the number of such vested RSUs. Any settlement of RSUs granted pursuant to this Award shall be
made in Shares as evidenced by a “book entry” (i.e., a computerized or manual entry) in the records of the Company or its designated agent in the name of the Grantee who has become vested in such Shares (or, if requested by the Grantee, a
stock certificate evidencing such Shares). Notwithstanding the foregoing, if this Award vests in connection with a Change in Control and the Shares issuable in connection with such vesting subsequently have been converted into or have other been
transferred in exchange for other consideration in connection with such Change in Control, Grantee will be entitled to receive such other consideration in lieu of the converted or transferred Shares. The Grantee will not be entitled to any dividend
equivalent or voting rights with regard to the RSUs. 
 2.3    Withholding Obligations. Prior to the settlement
of any RSUs subject to this Award, Grantee shall provide (i) full payment (in cash or by check or by a combination thereof) to satisfy the minimum Withholding Tax Obligation (as defined below) with respect to which the Award or portion thereof
shall settle or (ii) subject to compliance with applicable Legal Requirements, indication that the Grantee elects to tender to the Company Shares owned by the Grantee (or by the Grantee and his or her spouse jointly) and purchased and held for
the requisite period of time as may be required to avoid the Company’s incurring an adverse 

 
accounting charge, based on the Fair Market Value of such Shares on the payment date necessary to satisfy the minimum Withholding Tax Obligation that would otherwise be required to be paid by the
Grantee to the Company pursuant to clause (i) of this Section 2.4, or (iii) notwithstanding the foregoing and unless notice to the contrary is given to the Grantee by the Company, the number of Shares that would
otherwise be issued to the Grantee upon settlement of the Award (or portion thereof) reduced by a number of Shares having an aggregate Fair Market Value, on the date of such issuance, equal to the payment to satisfy the minimum Withholding Tax
Obligation that would otherwise be required to be made by the Grantee to the Company pursuant to clause (i) of this Section 2.4. Any social security calculation or other adjustments discovered after the net Share
payment described in clause (iii) of this Section 2.4 hereof will be settled in cash, not in Shares. For the avoidance of doubt, the Company may satisfy the Grantee’s withholding obligation from the Grantee’s
other compensation which may be payable by the Company, including any withholding obligation which may not be satisfied though the procedures identified in this Section 2.4. For purposes hereof, the “Withholding Tax
Obligation” means the minimum amount necessary to satisfy Federal, state, local or foreign withholding tax requirements, if any, in connection with vesting of the Award; provided, however, that, in the discretion of the Company, the Company may
allow the Grantee to withhold an additional amount or additional number of Shares to satisfy an additional amount of withholding taxes up to the maximum individual statutory tax rate in the applicable jurisdiction, but only if such additional
withholding, or the discretion to elect such additional withholding, does not result in adverse accounting treatment of this Award to the Company. Vesting of the Award (or portion thereof) will result in taxable compensation reportable on the
Grantee’s W-2 in year of vesting. 
 3.    No Right to Continued
Service. Nothing in this Agreement or the Plan shall be interpreted or construed to confer upon the Grantee any right to continue service as an officer or employee of the Company. 

4.    Adjustments. The provisions of Section 4.2 and
Section 14.3 of the Plan are hereby incorporated by reference, and the RSUs are subject to such provisions. Any determination made by the Committee pursuant to such provisions shall be made in accordance with the provisions
of the Plan and shall be final and binding for all purposes of the Plan and this Agreement. 
 5.    Administration
Subject to the Plan. The Grantee hereby acknowledges receipt of a copy of (or an electric link to) the Plan and agrees to be bound by all the terms and provisions thereof. The terms of this Agreement are governed by the terms of the Plan, and in
the case of any inconsistency between the terms of this Agreement and the terms of the Plan, the terms of the Plan shall govern. The Committee shall have the power to interpret the Plan and this Agreement and to adopt such rules for the
administration, interpretation and application of the Plan as are consistent therewith and to interpret or revoke any such rules. All actions taken and all interpretations and determinations made by the Committee shall be final and binding upon the
Grantee, the Company and all other interested persons. No member of the Committee shall be personally liable for any action, determination or interpretation made in good faith with respect to the Plan or this Award. 

6.    Modification of Agreement. Subject to the restrictions contained in the Plan and applicable law (including
compliance with Section 409A of the Code), the Committee may waive any conditions or rights under, amend any terms of, or alter, suspend, discontinue, cancel or terminate, the RSU, prospectively or retroactively. 

7.    Section 409A. Notwithstanding anything herein to the contrary, to the maximum extent permitted by applicable
law, the settlement of the RSUs to be made to the Grantee pursuant to this Agreement is intended to qualify as a “short-term deferral” pursuant to Section 1.409A-1(b)(4) of the Regulations and this
Agreement shall be interpreted consistently therewith. However, in any circumstances where the settlement of the RSUs may not so qualify, the Committee shall administer the grant and settlement of such RSUs in strict compliance with Section 409A of
the Code. Further, notwithstanding anything herein to the contrary, to the extent that this Award constitutes deferred compensation for purposes of Section 409A of the Code (i) no RSU payable upon the Grantee’s termination of service shall
be issued, unless Grantee’s termination of service constitutes a “separation from service” within the meaning of Section 1.409A-1(h) of the Treasury Regulations and (ii) if at the time of a
Grantee’s termination of employment with the Company and all “service recipients” (as defined in the applicable provision of the Treasury Regulations), the Grantee is a “specified employee” as defined in Section 409A of the
Code, and the deferral of the commencement of any payments or benefits otherwise payable hereunder as a result of such termination of service is necessary in order to prevent the imposition of any accelerated or additional tax under Section 409A of
the Code, then the Company will defer the commencement of the payment of any such payments or benefits hereunder (without any reduction in such payments or benefits ultimately paid or provided to the Grantee) to the minimum extent necessary to
satisfy Section 409A of the Code until the date that is six months and one day following the Participant’s termination of employment with the Company (or the earliest date as is permitted under Section 409A of the Code), if such payment or
benefit is payable upon a termination of employment. Each payment of RSUs constitutes a “separate payment” for purposes of Section 409A of the Code. Notwithstanding any other provision of this Agreement or the Plan to the contrary, to the
extent that this RSU Agreement constitutes deferred compensation for purposes of Section 409A of the Code, a “Change in Control” for purposes of this Agreement shall be defined as set forth in Section
1.409A-3(i)(5) of the Treasury Regulations. Notwithstanding the foregoing, Company does not warrant that this RSU will qualify for favorable tax treatment under Section 409A of the Code or any other
provision of federal, state, local or foreign law. The Company shall not be liable to Grantee for any tax, interest, or penalties that the Grantee might owe as a result of the grant, holding, vesting, exercise, or payment of the RSUs. 

  
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 8.    No Right to Continued Employment. The grant of the RSU shall not
be construed as giving the Grantee the right to be retained in the service of the Company, and the Company may at any time dismiss the Grantee from service, free from any liability or any claim under the Plan. 

9.    Severability. If any provision of this Agreement is, or becomes, or is deemed to be invalid, illegal, or
unenforceable in any jurisdiction or as to any Person or the Award, or would disqualify the Plan or Award under any laws deemed applicable by the Committee, such provision shall be construed or deemed amended to conform to the applicable laws, or if
it cannot be construed or deemed amended without, in the determination of the Committee, materially altering the intent of the Plan or the Award, such provision shall be stricken as to such jurisdiction, Person or Award, and the remainder of the
Plan and Award shall remain in full force and effect. 
 10.    Governing Law. The validity, interpretation,
construction and performance of this Agreement shall be governed by the laws of the State of Tennessee without giving effect to the conflicts of law principles thereof, except to the extent that such laws are preempted by Federal law. 

11.    Successors in Interest. This Agreement shall inure to the benefit of and be binding upon any successor to
the Company. This Agreement shall inure to the benefit of the Grantee’s legal representatives. All obligations imposed upon the Grantee and all rights granted to the Company under this Agreement shall be binding upon the Grantee’s heirs,
executors, administrators and successors. 
 12.    Resolution of Disputes. Any dispute or disagreement which may
arise under, or as a result of, or in any way related to, the interpretation, construction or application of this Agreement shall be determined by the Committee. Any determination made hereunder shall be final, binding and conclusive on the Grantee
and the Company for all purposes. 
 13.    Rights as a Shareholder. Grantee shall not have voting or any other
rights as a shareholder of the Company with respect to the RSUs. Grantee will obtain voting and other rights as a shareholder of the Company upon any settlement of the RSUs in Shares. 

14.    Notices. All notices required to be given under this Agreement shall be deemed to be received if delivered
or mailed as provided for herein to the parties at the following addresses, or to such other address as either party may provide in writing from time to time. 
  

	 	To the Company:	HealthStream, Inc. 

 Cummins Station, Suite 450 

209 10th Avenue South 

Nashville TN 37203 
  

	 	To the Grantee:	The address then maintained with respect to the Grantee in the Company’s records. 

  
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 [signature page to Restricted Share Unit Award Agreement] 

IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed effective as of the day and year first above written. 

 

			
	HEALTHSTREAM, INC.:
		
	By:	 	                                     
                                         
  
	Robert A. Frist, Jr.
	Chief Executive Officer
	
	GRANTEE:
	  

	Michael Sousa

  
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 Exhibit A 

Performance Criteria 
 For
purposes of this Award, performance will be measured for the period beginning on January 1, 2017 and ending on December 31, 2019 (the “Performance Period”). The performance criteria (the “Performance
Criteria”) for the Performance Period shall be determined by the Committee and communicated to Grantee and shall be based on certain financial performance targets of the business unit over which Grantee is President being achieved during
the Performance Period. 

  
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