Summary of Compensation Package for Mr. Heinz Haller
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EX-10.56 28 d244198dex1056.htm SUMMARY OF COMPENSATION ARRANGEMENT WITH HEINZ HALLER Summary of compensation arrangement with Heinz Haller
Exhibit 10.56
Summary of Compensation Package for Mr. Heinz Haller
On August 29, 2011, the board of directors of BioAmber Inc. (the “Company”) approved a compensation package for Mr. Heinz Haller for his service as an independent director of the Corporation, consisting of:
| a. | an annual fee of $35,000 with a payment schedule to be determined by the Chief Executive Officer; and |
| b. | the grant of options to purchase 500 shares of the Company’s common stock pursuant to the Company’s stock option plan with an exercise price of US$369.14 per share. The options vest over two years: 50% at the first anniversary date of the election of Mr. Heinz Haller as a director of the Corporation and 50% at the second anniversary date of the election of Mr. Heinz Haller as a director of the Company. |
Mr. Haller does not have a written agreement with respect to director compensation.
