Alimera Sciences, Inc. 2019 Non-Employee Director Compensation Program

Contract Categories: Human Resources - Compensation Agreements
EX-10.62 2 exhibit1062.htm EXHIBIT 10.62 Exhibit
Exhibit 10.62

Terms and Conditions of the Alimera Sciences, Inc.
2019 Non-Employee Director Compensation Program

Board Retainer
•    $40,000 annual cash Board retainer
Chairman of the Board
•    $45,000 annual cash retainer
Lead Independent Director
•    $15,000 annual cash retainer
Committee Member
Additional Annual Cash Retainer
•    $10,000 for Audit Committee;
•    $7,000 for Compensation Committee;
•    $4,000 for Nominating & Governance Committee
Committee Chair Additional Annual Cash Retainer (includes amount for serving on Committee plus additional amount for serving as Chair)
•    $20,000 for Audit Committee
•    $15,000 for Compensation Committee
•    $8,000 for Nominating & Governance Committee
Equity Compensation
•    Annual grant for 50,000 stock options with a ten-year term and vest in equal monthly vesting installments over one year

Ø    Option grants at the annual shareholder meeting (June), which is the beginning of the director “service year”
Ø    New directors are provided a pro-rata annual grant for service until the end of the current director “service year”
Ø    Directors to have three years to exercise vested options after leaving Board
Ø    Vesting accelerates in the event of a change in control of the Company or the director’s death or disability