Amendment to Neothetics, Inc. 2014 Equity Incentive Plan Regarding Nonemployee Director Award Limits
This amendment updates the Neothetics, Inc. 2014 Equity Incentive Plan to limit the maximum value of equity awards that can be granted to nonemployee directors. The annual limit is set at $420,000 in fair market value, with a higher limit of $840,000 for the first year a director joins the board. All other terms of the plan remain unchanged.
Exhibit 10.1
NEOTHETICS, INC.
AMENDMENT TO
2014 EQUITY INCENTIVE PLAN
Amendment to Plan. That Section 5.4 of the Neothetics, Inc. 2014 Equity Incentive Plan (the “Plan”) is hereby amended and restated in its entirety as follows:
“5.4“Nonemployee Director Limitations.
Notwithstanding anything in this Plan to the contrary, the maximum grant date Fair Market Value of any Awards issued to any Nonemployee Director as Nonemployee Director Awards during a calendar year shall not exceed $420,000; provided, however, that with respect to the first calendar year in which an individual is elected or appointed to the Board, this limit shall be $840,000. The limitations set forth in the preceding sentence shall be subject to adjustment as provided pursuant to Section 4.5.”
Except as set forth herein, the Plan is not amended and remains in full force and effect.
