Non-Employee Director Compensation Program, effective as of October 25, 2018
Exhibit 10.19
GLU MOBILE INC.
SUMMARY OF INDEPENDENT NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM
(Effective as of October 25, 2018)
On October 25, 2018, the Board of Directors (the “Board”) of Glu Mobile Inc. (“Glu,” “our,” “we” or similar terms) approved the following program with respect to the compensation of our independent non-employee directors effective immediately:
Cash Compensation
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| Annual Retainer Fee: |
| $ | 40,000 |
| Lead Director or Chairman of the Board Fee: |
| $ | 25,000 |
| Annual Committee Fees: |
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| Audit Committee Chair |
| $ | 20,000 |
| Audit Committee Member (other than Chair) |
| $ | 10,000 |
| Compensation Committee Chair |
| $ | 15,000 |
| Compensation Committee Member (other than Chair) |
| $ | 7,500 |
| Nominating and Governance Committee Chair |
| $ | 10,000 |
| Nominating and Governance Committee Member (other than Chair) |
| $ | 5,000 |
| Strategy Committee Chair |
| $ | 20,000 |
| Strategy Committee Member (other than Chair) |
| $ | 5,000 |
All cash compensation will be paid in quarterly installments based upon continuing service. We will also reimburse our directors for reasonable expenses in connection with attendance at Board and committee meetings.
Equity Compensation
Each year at the time of our annual meeting of stockholders, each Glu independent non-employee director will receive an additional equity award of (1) a restricted stock unit (“RSU”) award covering 25,000 shares of our common stock and (2) an option to purchase 50,000 shares of our common stock. Both the stock option and RSU award will vest on the earlier to occur of (a) the first anniversary of the grant date and (b) the date of our next annual meeting of stockholders that follows the grant date. At the time he or she joins the Board, each new independent non-employee director will receive an initial equity award of, at that director’s discretion, either (a) a grant of 20,000 shares of restricted stock or (b) an immediately exercisable option to purchase 60,000 shares of our common stock. In either case the award will vest as to 33 1/3% of the shares on the first anniversary of the grant date and thereafter vest pro rata monthly over the next 24 months.
