Exhibit 10.16
GLOBAL BLOOD THERAPEUTICS, INC.
NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
The purpose of this Non-Employee Director Compensation Policy (the “Policy”) of Global Blood Therapeutics, Inc., a Delaware corporation (the “Company”), is to provide a total compensation package that enables the Company to attract and retain, on a long-term basis, high-caliber directors who are not employees or officers of the Company. In furtherance of this purpose, effective as of January 1, 2022 (the “Effective Date”), all non-employee directors shall be paid compensation for services provided to the Company as set forth below:
Cash Retainers
Annual Retainer for Board Membership: $50,000 for general availability and participation in meetings and conference calls of our Board of Directors (the “Board”). Additional $25,000 for service as lead independent director or non-executive Chairperson of the Board. No additional compensation for attending individual Board meetings.
Additional Annual Retainers for Committee Membership and Service as Chairperson:
Audit Committee Chairperson: $20,000
Audit Committee member: $10,000
Compensation Committee Chairperson: $15,000
Compensation Committee member: $7,500
Nominating and Corporate Governance Committee Chairperson: $10,000
Nominating and Corporate Governance Committee member: $5,000
Commercial Committee Chairperson: $15,000
Commercial Committee member: $7,500
Research and Development Committee Chairperson: $15,000
Research and Development Committee member: $7,500
No additional compensation for attending individual committee meetings.
All cash retainers will be paid quarterly, in arrears, or upon the earlier resignation or removal of the non-employee director. Cash retainers owing to non-employee directors shall be annualized, meaning that with respect to non-employee directors who join the Board during the calendar
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year, such amounts shall be pro-rated based on the number of calendar days served by such director.
Equity Retainers
All grants of equity retainer awards to non-employee directors pursuant to this Policy will be automatic and nondiscretionary and will be made in accordance with the following provisions:
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Expenses
The Company shall reimburse all reasonable out-of-pocket expenses incurred by non-employee directors in attending Board and committee meetings.
Amended and Restated Version Approved by the Board of Directors on September 8, 2016.
Amended: December 19, 2018.
Amended and Restated Version Approved by the Board of Directors on June 3, 2019.
Amended and Restated Version Approved by the Board of Directors on March 24, 2020.
Amended and Restated Version Approved by the Board of Directors on December 10, 2020.
Amended and Restated Version Approved by the Board of Directors on December 20, 2021.
Amended and Restated Version Approved by the Board of Directors on January 30, 2022, effective January 1, 2022.
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