Asensus Surgical, Inc. Non-Employee Director Compensation Program, effective July 1, 2020

Contract Categories: Human Resources - Compensation Agreements
EX-10.8 13 ex_232215.htm EXHIBIT 10.8 ex_232215.htm

Exhibit 10.8


Non-Employee Director Compensation Program


Effective July 1, 2020, the Asensus Surgical, Inc. Non-Employee Director Compensation Program is:


Annual Equity Retainer(1)

Annual Equity

Award (2)

Initial Equity

Award (2)

Non-Employee Director role:

Dollar value

Paid in equity in lieu

of cash (2)

Equity grant of stock

options or restricted

Equity grant of stock

options or restricted

  Baseline Board Compensation


Equity issued quarterly

stock units with a value

options or restricted

  Non-Executive Chair


in arrears to each

of $45,000. Director

stock units with a value

  Audit Committee Chair


director under the Plan.

can elect the form of 

of $50,000. Incoming

  Compensation Committee Chair


Vested on grant.

equity. Cliff vesting at

director can elect the

  CG & Nominating Committee Chair


Yearly election will be

first anniversary of grant

form of equity. Vests

  Audit Committee Member

$ 9,000

made by each director

or following year’s annual 

one-third of award on

  Compensation Committee Member

$ 6,000

to receive grant as shares

meeting date, if earlier, 

each of the first three

  CG& Nominating Committee Member

$ 5,000

of common stock or stock


subject to forfeiture if not vested.

anniversaries of the date of grant.





Annual non-employee director compensation limit of $250,000 with initial year compensation limit of $500,000 as set forth in the Amended and Restated Equity Compensation Plan (the “Plan”).




Number of shares of common stock, restricted stock units or stock options calculated using a stock price equal to the greater $1.00 or the average closing price in the 20 trading days prior to the date of grant and, for stock options, if elected by a director, a Black Scholes calculation. Stock options will have a seven year term.