TheMaven, Inc. Outside Director Compensation Policy (Adopted August 23, 2018)
TheMaven, Inc. has established a compensation policy for its non-employee directors, granting them annual restricted stock awards valued at $50,000 (prorated for partial years) under the company's 2016 Stock Incentive Plan. These awards vest in equal monthly installments throughout the year, provided the director continues to serve. No cash compensation is provided to outside directors under this policy.
Exhibit 10.74
TheMaven, Inc.
Outside Director Compensation Policy
Adopted by the Board of Directors on August 23, 2018
Our non-employee directors (the “Outside Directors”) will receive compensation in the form of equity granted under the terms of our 2016 Stock Incentive Plan, as described below:
Annual Stock Award to Outside Directors: Each Outside Director will on January 1 of each year (or, if later, on the date of the first meeting of our board of directors or compensation committee occurring on or after the date on which the individual first became an Outside Director) be granted a Restricted Stock Award (the “Award”) of a number of shares with an aggregate value of $50,000 (pro rata for partial years), based on a per share price equal to the closing sale price of the Common Stock on the trading day immediately preceding the date of the Initial Award.
The shares underlying each Award will vest in equal monthly installments commencing on the last day of the calendar month in which the Award was made and ending on December 31 of such year, subject to continued service as a director through the applicable vesting date.
Cash Compensation: No Outside Director will received cash compensation.
