Amended and Restated Non-Employee Director Compensation Policy, dated May 7, 2024, as amended November 29, 2024
Exhibit 10.9
MetaVia Inc.
Amended and Restated
Non-Employee Director Compensation Policy
Effective Date: May 7, 2024; as amended November 29, 2024
Each member of the Board of Directors (the “Board”) of MetaVia Inc., a Delaware corporation (the “Company”) who is not also serving as an employee of the Company or any of its subsidiaries (each such member, an “Non-Employee Director”) will receive the compensation described in this Amended and Restated Non-Employee Director Compensation Policy (this “Policy”). A Non-Employee Director may decline all or any portion of his or her compensation by giving notice to the Company prior to the date cash is to be paid or equity awards are to be granted, as the case may be. This Policy will be effective as of May 7, 2024 (the “Effective Date”). This Policy may be amended at any time in the sole discretion of the Board, or by the Compensation Committee of the Board (the “Compensation Committee”) at the recommendation of the Board. Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given to such terms in the Company’s 2022 Equity Incentive Plan, as amended, or if such plan is no longer in use, the meaning given to such terms or any similar terms in the primary successor to such plan (in either case, the “Plan”).
Position |
| Amount |
| |
Base Board Retainer |
| $ | 40,000 |
|
Non-Executive Chair of the Board (in addition to above Base Retainer) |
| $ | 35,000 |
|
Chair of Audit Committee |
| $ | 18,000 |
|
Chair of Compensation Committee |
| $ | 12,000 |
|
Chair of Nominating and Corporate Governance Committee |
| $ | 10,000 |
|
Member of Audit Committee (non-Chair) |
| $ | 9,000 |
|
Member of Compensation Committee (non-Chair) |
| $ | 6,000 |
|
Member of Nominating and Corporate Governance Committee (non-Chair) |
| $ | 5,000 |
|
For the avoidance of doubt, the Annual Retainers in the table above are additive and a Non-Employee Director shall be eligible to earn an Annual Retainer for each position in which he or she serves. In addition, the Annual Retainers will be prorated for the first calendar quarter
1
in which the Effective Date occurs, which proration will be based on the number of days of the calendar quarter remaining in such quarter after the Effective Date. The Board may adopt a program that allows Non-Employee Directors to defer Annual Retainers.
2
3
Approved by the Board of Directors: May 7, 2024; November 29, 2024
4
Exhibit A
METAVIA INC.
AMENDED AND RESTATED
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
Restricted Stock Unit Deferral and Retainer Grant Election Form
For Non-Employee Directors
Please complete and return this Restricted Stock Unit Deferral and Retainer Grant Election Form (the “Election Form”), as described below, [for existing non-employee directors making elections for 2024: within 30 days after the Effective Date of the Policy][for existing non-employee directors making elections for 2025 or any year thereafter: on or before December 31 of each year] [for new non-employee directors: within 30 days following the date you join the Board] (the “Submission Deadline”), to the Chief Financial Officer of the Company, with a copy to the Company’s counsel, MetaVia Inc., 545 Concord Avenue, Suite 210, Cambridge, Massachusetts 02138.
Neither the provision of this Election Form nor your completion of this Election Form represents a commitment by the Company to grant an Award to you. The grant of an Award remains subject to the terms of the Company’s Amended and Restated Non-Employee Director Compensation Policy as may be hereinafter amended (the “Policy”). Terms not otherwise defined herein shall have the meaning set forth in the Policy or the Plan, as applicable.
I understand that my Election Form will become irrevocable effective as of the Submission Deadline.
(Please print)
Participant Name: (the “Participant”)
1 Applicate Retainer Grant Measurement Date
2 Last day of the fiscal year of the Company to which the Retainer Gant Election applies
Exhibit A-1
For the purposes of the foregoing, “Separation Date” means the date of my retirement or other separation from service with the Company and all of its Affiliates (as determined in accordance with Section 409A(2)(A)(i) of the Code and Treasury Regulation Section 1.409A-1(h)).
3 Awards with respect to which the Non-Employee Director is making a deferral election to be included.
4 Awards with respect to which the Non-Employee Director is making a deferral election to be included.
Exhibit A-2
Exhibit A-3
By signing this Election Form, I authorize the implementation of the above elections. I understand that my [deferral election and retainer grant election] are irrevocable effective as of the Submission Deadline and may not be changed in the future, except in accordance with the requirements of Section 409A and the procedures specified by the Board or the Compensation Committee.
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Signed: Participant Name: | Date: | |||
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Agreed to and accepted: | | |||
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MetaVia Inc. By: Name: Title: | Date: |
IMPORTANT DEADLINE: Please remember that if you wish to make any election set forth on this Election Form, then the properly completed Election Form must be signed by you and returned ON OR BEFORE THE SUBMISSION DEADLINE to the Chief Financial Officer of the Company, with a copy to the Company’s counsel (or such other individual as the Company designates).
Exhibit A-4