The horizontal hinge, called the flapping hinge, allows the blade to move up and down. This movement is called flapping and is designed to compensate for dissymetry of lift. The flapping hinge may be located at varying distances from the rotor hub, and there may be more than one hinge.
The vertical hinge, called the lead-lag or drag hinge, allows the blade to move back and forth. This movement is called lead-lag, dragging, or hunting. Dampers are usually used to prevent excess back and forth movement around the drag hinge. The purpose of the drag hinge and dampers is to compensate for the acceleration and deceleration caused by Coriolis Effect.
Each blade can also be feathered, that is, rotated around its spanwise axis. Feathering the blade means changing the pitch angle of the blade. By changing the pitch angle of the blades you can control the thrust and direction of the main rotor disc. 
 

SEMIRIGID ROTOR SYSTEM
A semirigid rotor system is usually composed of two blades which are rigidly mounted to the main rotor hub. The main rotor hub is free to tilt with respect to the main rotor shaft on what is known as a teetering hinge. This allows the blades to flap together as a unit. As one blade flaps up, the other flaps down. Since there is no vertical drag hinge, lead-lag forces are absorbed through blade bending. [Figure 5-6]