Humanigen, Inc. 2021 Non-Employee Director Compensation Program
Humanigen, Inc. set out a compensation program for its non-employee directors in 2021. Directors received annual fees for serving on the Board and its committees, with amounts varying by role. Starting in the fourth quarter of 2021, directors could choose to receive their fees in cash, company stock, or stock options. The agreement also covers reimbursement for reasonable expenses related to attending meetings. This program does not apply to directors who are company employees.
EXHIBIT 10.20
Humanigen, Inc.
Compensation for Non-employee Directors
Pursuant to our Director Compensation Program, each director serving on our Board during 2021 who was not our employee was eligible to compensation for his or her service, as follows. Until the fourth quarter of 2021, such fees were payable in cash. Commencing in the fourth quarter of 2021, at the option of the director, such fees were payable in cash, common stock or immediately exercisable stock options having a grant date fair value equal to the equivalent cash compensation owed.
| · | Board of Directors member: $40,000; |
| · | Audit committee member: $10,000; |
| · | Audit committee chair: $20,000; |
| · | Compensation committee member: $6,000; |
| · | Compensation committee chair: $12,000; |
| · | Nominating and corporate governance committee member: $4,000; |
| · | Nominating and corporate governance committee chair: $8,000; and |
| · | Transaction committee (disbanded in July 2020) member: $12,000. |
Directors are reimbursed for their reasonable expenses of attending Board and committee meetings held in person.
