Recro Pharma, Inc. Summary of Compensation Arrangement for the Board of Directors for Non-Employee Directors

EX-10.17 21 d605505dex1017.htm EX-10.17 EX-10.17

Exhibit 10.17

Recro Pharma, Inc.

Summary of Compensation Arrangement for the Board of Directors

for Non-Employee Directors

 

CASH COMPENSATION

Board

   

Title

    Amount     

Term

   Chairperson    $ 40,000       per year, paid quarterly
   Member    $ 20,000       per year, paid quarterly

Committee

   

Title

            Amount             

Term

Audit    Chairperson    $ 15,000       per year, paid quarterly
   Member    $ 7,500       per year, paid quarterly
Compensation    Chairperson    $ 15,000       per year, paid quarterly
   Member    $ 7,500       per year, paid quarterly
Nominating and Corporate Governance    Chairperson    $ 7,500       per year, paid quarterly
   Member    $ 3,500       per year, paid quarterly

 

OPTIONS

Grant

            Amount             

Term

Initial Grant

      20,000       options vest in equal annual installments over three years from the grant date

Annual Grants

      10,000       vesting on the one year anniversary of the grant date