Adamas Pharmaceuticals Non-Employee Director Compensation Policy
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Summary
This agreement outlines the compensation for non-employee directors of Adamas Pharmaceuticals. Directors receive an annual cash retainer of $35,000, with additional payments for serving as lead independent director or on board committees. They also receive stock options: 30,000 shares upon joining the board (vesting over three years) and 15,000 shares annually (vesting after one year). If there is a change of control, all outstanding equity awards vest immediately.
EX-10.27 2 adms10k2016ex1027.htm EXHIBIT 10.27 Exhibit
Exhibit 10.27
Compensatory Arrangements with Non-Employee Directors
Cash Compensation:
Annual cash retainer - $35,000
Lead independent director additional annual cash payment - $15,000
Annual committee fees:
Annual | Annual | |||||||
Chair | Member | |||||||
Committee | Fee | Fee | ||||||
Audit Committee | $ | 15,000 | $ | 7,500 | ||||
Compensation Committee | $ | 10,000 | $ | 5,000 | ||||
Nominating and Corporate Governance Committee | $ | 7,000 | $ | 3,500 | ||||
Development Committee | $ | 7,500 | $ | 5,000 | ||||
Equity Compensation:
Initial equity award upon commencement of service as a board member: non-qualified stock option to purchase 30,000 shares of Adamas common stock that vests annually over three years of service.
Annual equity award: non-qualified stock option to purchase 15,000 shares that vests after one year of service.
Additionally, upon the closing of a change of control, the vesting of all outstanding equity awards held by our non-employee directors will accelerate in full.
