AquaVenture Holdings Limited Non-Employee Director Compensation Policy
This policy outlines the compensation for non-employee directors of AquaVenture Holdings Limited. Non-employee directors receive annual cash retainers for board and committee service, with additional amounts for chairing committees. They are also eligible for annual grants of restricted stock units, which vest after one year if the director remains in service. The company reimburses reasonable expenses related to board duties. The policy aims to attract and retain qualified directors and was adopted on September 22, 2016, pending the effectiveness of the company's registration statement.
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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