Antares Pharma, Inc. Board of Directors Compensation Plan (Effective January 1, 2006)

Summary

This agreement outlines the compensation plan for members of the Board of Directors of Antares Pharma, Inc. Effective January 1, 2006, new board members receive an initial share grant with immediate vesting. Ongoing compensation includes annual stock option grants (vesting quarterly), annual cash retainers, and additional cash payments for serving as Board Chair, committee chair, and for attending board or committee meetings. All out-of-pocket expenses are reimbursed according to company policy. Payments are made quarterly or annually as specified.

EX-10.1 2 a5084361ex10-1.txt EXHIBIT 10.1 Exhibit 10.1 Antares Pharma, Inc. Board of Directors Compensation Plan - January 1, 2006 Scheme Initial compensation for joining the board is a share grant with 100% immediate vesting. All other compensation is in the form of cash (paid quarterly) or options (paid annually and vested quarterly over one year) as set out below. All out-of-pocket expenses are reimbursed in accordance with Company policy, including travel. Frequency Initial share grant as new board member Annual Stock Option grant vesting quarterly over one year Annual cash retainer paid quarterly Additional cash compensation paid quarterly for: |X| Chairman of the Board |X| Committee chairpersons |X| Each Board meeting attended (in-person or telephonic) |X| Committee meetings attended (in-person or telephonic) Cash Compensation Paid Share Grant Quarterly or Options Annual Meeting Fee ---------- ------ ----------- Initial new member- Share grant 20,000 Annual retainer-Option grant 30,000 Annual retainer $15,000 Board Chair $25,000 Committee Chair $7,000 Board meeting fee $1,500 Committee meeting fee $1,000