SEC Contract Filing

Filing Date: 2025-02-28

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>2
<FILENAME>ex_781954.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: right;">&nbsp;</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: right;">EXHIBIT 10.5</p>

<p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: right;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>HealthStream, Inc. (the Company)</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>Summary of Director and Executive Officer Compensation</b></p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">I.&nbsp;<b>Director Compensation</b>. Directors who are employees of the Company do not receive additional compensation for serving as directors of the Company. For fiscal year 2024, each director received an annual retainer of $30,000, except for the Audit Committee Chair and Nominating and Corporate Governance Chair, who each received an additional annual retainer of $10,000, the Compensation Committee Chair, who received an additional annual retainer of $2,750, and members of the Audit Committee, who received an additional retainer of $2,500.</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">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.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">II.&nbsp;<b>Executive Officer Compensation</b>. The following table sets forth the current base salaries and fiscal 2024&nbsp;performance bonuses to be provided to our executive officers upon review and approval by the Compensation Committee, including the individuals who the Company expects to be its Named Executive Officers for 2025.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<table border="0" cellpadding="0" cellspacing="0" style="font-family:Times New Roman;font-size:10pt;width:100%;margin-left:auto;margin-right:auto;">

 <tr>
 <td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:21.8%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Executive Officer</b></p>
 </td>
 <td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:1.5%;">&nbsp;</td>
 <td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:35.3%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Current Base Salary</b></p>
 </td>
 <td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:1.7%;">&nbsp;</td>
 <td style="border-bottom:solid 1px #000000;vertical-align:bottom;width:1.5%;">&nbsp;</td>
 <td colspan="2" style="border-bottom:solid 1px #000000;vertical-align:bottom;width:35.3%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"><b>Fiscal 2024</b>&nbsp;<b>Bonus Amount</b></p>
 </td>
 <td style="vertical-align:bottom;width:2.9%;">&nbsp;</td>
 </tr>
 <tr>
 <td style="vertical-align:bottom;width:21.8%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Robert A. Frist, Jr.</p>
 </td>
 <td style="vertical-align:bottom;width:1.5%;">&nbsp;</td>
 <td style="vertical-align:bottom;width:1.5%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
 </td>
 <td style="vertical-align:bottom;width:33.9%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">391,500</p>
 </td>
 <td style="vertical-align:bottom;width:1.7%;">&nbsp;</td>
 <td style="vertical-align:bottom;width:1.5%;">&nbsp;</td>
 <td style="vertical-align:bottom;width:1.5%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
 </td>
 <td style="vertical-align:bottom;width:33.9%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">156,600</p>
 </td>
 <td style="vertical-align:bottom;width:2.9%;">&nbsp;</td>
 </tr>
 <tr>
 <td style="vertical-align:bottom;width:21.8%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">Michael Sousa</p>
 </td>
 <td style="vertical-align:bottom;width:1.5%;">&nbsp;</td>
 <td style="vertical-align:bottom;width:1.5%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$</p>
 </td>
 <td style="vertical-align:bottom;width:33.9%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">388,000</p>
 </td>
 <td style="vertical-align:bottom;width:1.7%;">&nbsp;</td>
 <td style="vertical-align:bottom;width:1.5%;">&nbsp;</td>
 <td style="vertical-align:bottom;width:1.5%;">
 <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">$