AQUAVENTURE HOLDING LIMITED NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
Exhibit 10.32
AQUAVENTURE HOLDING LIMITED
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
The purpose of this Director Compensation Policy of AquaVenture Holdings Limited (the “Company”), is to provide a total compensation package that enables the Company to attract and retain, on a long-term basis, high-caliber directors who are not employees or officers of the Company or its subsidiaries. In furtherance of the purpose stated above, all non-employee directors shall be paid compensation for services provided to the Company as set forth below:
Cash Retainers
Annual Retainer for Board Membership: $35,000 for general availability and participation in meetings and conference calls of our Board of Directors, to be paid quarterly.
Additional Retainer for Board Chairperson: $35,000
Additional Retainers for Committee Membership:
| Audit Committee Chairperson: |
| $ | 20,000 |
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| Audit Committee member: |
| $ | 10,000 |
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| Compensation Committee Chairperson: |
| $ | 14,000 |
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| Compensation Committee member: |
| $ | 7,000 |
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| Nominating and Corporate Governance Committee Chairperson: |
| $ | 10,000 |
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| Nominating and Corporate Governance Committee member: |
| $ | 5,000 |
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Note: Chairperson retainers are in addition to member retainers.
Equity Retainers
Annual equity grants: Each continuing non-employee member of the Board who has served as a director is eligible to receive a grant of restricted stock units having a fair market value of $125,000, which will vest in full on the one-year anniversary of the grant date, provided, however, that all vesting ceases if the director resigns from our Board of Directors or otherwise ceases to serve as a director, unless the Board of Directors determines that the circumstances warrant continuation of vesting.
Expenses
The Company will reimburse all reasonable out-of-pocket expenses incurred by non-employee directors in attending meetings of the Board or any Committee.
ADOPTED: September 22, 2016, subject to effectiveness of the Company’s Registration Statement on Form S-1.
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