Senomyx (SNMX) 8-K Senomyx Announces Management Team Promotions

Exhibit 10.1

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY(1)

(effective October 1, 2009)

CASH	·    Annual retainer ·    Board meeting fee (in person) ·    Board meeting fee (telephonic) ·    Committee meeting fee (in person) ·    Committee meeting fee (telephonic)	·    $25,000 ·    $2,000 ·    $1,000 ·    $1,000 ·    $1,000
INITIAL STOCK OPTION GRANT	·    Number of shares ·    Vesting period ·    Vesting increment	·    30,000 ·    3 years ·    Monthly
ANNUAL STOCK OPTION GRANT	·    Number of shares ·    Vesting period ·    Vesting increment	·    15,000 (subject to proration as set forth in the 2004 Plan) ·    1 year ·    Monthly
ADDITIONAL CHAIRMAN OF THE BOARD COMPENSATION	·    Annual retainer ·    Initial stock option grant (shares) ·    Annual stock option grant (shares)	·    $10,000 ·    15,000 ·    6,000 (subject to proration as set forth in the 2004 Plan)
ADDITIONAL COMMITTEE CHAIR COMPENSATION	·    Annual retainer (Audit) ·    Annual retainer (Compensation) ·    Annual retainer (Corporate Governance & Nominating) ·    Committee meeting fee (in person or telephonic)	·    $12,000 ·    $8,000 ·    $5,000 ·    $1,000
ADDITIONAL LEAD INDEPENDENT DIRECTOR COMPENSATION	·    Annual Retainer	·    $15,000

(1) All stock option grants shall be made pursuant to the Non-Employee Directors’ Nonstatutory Stock Option Program under the 2004 Plan.