Adamas Pharmaceuticals, Inc. Non-Employee Director Compensation Policy
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Summary
This agreement outlines the compensation for non-employee directors of Adamas Pharmaceuticals, Inc. Directors receive annual cash retainers, with additional payments for serving as lead independent director or on board committees. Compensation is paid quarterly. Non-employee directors also receive stock options: an initial grant upon joining the board, vesting over three years, and annual grants thereafter, vesting after one year. If there is a change of control, all outstanding equity awards vest immediately.
EX-10.1 2 admsq210q2018ex101.htm EXHIBIT 10.1 Exhibit
Exhibit 10.1
NON-EMPLOYEE DIRECTOR COMPENSATION
Cash Compensation
The annual cash compensation payable to non-employee directors of Adamas Pharmaceuticals, Inc. is as follows, payable quarterly in arrears:
Retainer | Amount | ||
Board Member Compensation | |||
Annual Board Member | $40,000 | ||
Additional Lead Independent Director | $22,500 | ||
Additional Committee Chair Compensation | |||
Audit Committee | $20,000 | ||
Compensation Committee | $14,000 | ||
Nominating and Corporate Governance Committee | $10,000 | ||
Additional Committee Member (non-Chair) Compensation | |||
Audit Committee | $10,000 | ||
Compensation Committee | $7,000 | ||
Nominating and Corporate Governance Committee | $5,000 | ||
Equity Compensation
Non-employee directors also receive an initial equity award upon commencement of service as a board member; thereafter, each non-employee director will receive an annual equity grant on the date of the Adamas Pharmaceuticals, Inc. annual meeting. The form of award in each case is a non-qualified stock option. The initial award is an option to purchase 20,000 shares of Adamas Pharmaceuticals, Inc. common stock that will vest annually over three years of service. Each subsequent annual award is an option to purchase 10,000 shares of Adamas Pharmaceuticals, Inc. common stock that will vest after one year of service. Additionally, upon the closing of a change of control, the vesting of all outstanding equity awards held by non-employee directors will accelerate in full.
