HealthSpring, Inc.
EX-10.1 NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
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<TYPE>EX-10.1
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<FILENAME>g09009exv10w1.htm
<DESCRIPTION>EX-10.1 NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
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<DIV align="right" style="font-size: 10pt; margin-top: 12pt">Exhibit&nbsp;10.1
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<DIV align="center" style="font-size: 10pt; margin-top: 18pt"><U><B>Approved June&nbsp;6, 2007</B></U>
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<DIV align="Center" style="font-size: 10pt; margin-top: 6pt"><B>NON-EMPLOYEE DIRECTOR COMPENSATION POLICY</B>

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    <TD><U>Annual Retainers: $40,000, plus</U></TD>
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    <TD>Audit Committee:</TD>
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    <TD>Chair: $20,000</TD>
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    <TD>Member: $12,500</TD>
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    <TD>Other Committee:</TD>
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    <TD>Chair: $12,500</TD>
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    <TD>Member: $7,500</TD>
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<DIV align="left" style="font-size: 10pt; margin-top: 6pt; margin-left: 6%"><U><B>Note:</B></U> <I>These retainers would be payable on a quarterly basis with the
first payment of the term being made on or about the June&nbsp;30 following the date
of the annual meeting of stockholders and following the re-election of the
director to the board and the designation of committee responsibilities.
Amounts would be pro-rated for partial year service.</I>
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    <TD><U>Meeting Attendance</U>: There will be no per meeting fees.</TD>
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    <TD><U>Restricted Stock Awards</U>:</TD>
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    <TD>Initial Election: Number of shares equal to $120,000 (increasing by 5% per year
beginning in 2008) divided by the average trading price for the 10 trading days
preceding the date of the initial election</TD>
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    <TD>Annual Award: Number of shares equal to $82,500 (increasing by 5%
per year beginning in 2008) divided by the average trading price for the 10
trading days preceding the date of the annual meeting</TD>
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    <TD><U><B>Note</B></U><B>:
</B><I>These awards will be made under the 2006 Equity Incentive Plan
on the date of the annual meeting of stockholders and will vest one
year following the date of grant. If the director resigns or is removed prior to the vesting, or if
director fails to attend 75% or more of the Board and applicable
committee meetings
during that 12-month period, shares would be forfeited, unless
resignation or
failure to attend is caused by director&#146;s disability. For
GTCR-affiliated
directors, cash amount will be paid directly to GTCR in lieu of
issuing shares
(subject to the same rules on service, attendance, and
forfeiture/refunding
described above).</I></TD>
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