Exhibit 10.2
SPIRE GLOBAL, INC.
OUTSIDE DIRECTOR COMPENSATION POLICY
As Amended, Effective June 13, 2023
Spire Global, Inc. (the “Company”) believes that the granting of equity and cash compensation to members of the Company’s Board of Directors (the “Board,” and members of the Board, “Directors”) represents an effective tool to attract, retain and reward Directors who are not employees of the Company (“Outside Directors”). This Outside Director Compensation Policy (the “Policy”) is intended to formalize the Company’s policy regarding cash compensation and grants of equity awards to its Outside Directors. Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given such term in the Company’s 2021 Equity Incentive Plan, as amended from time to time, or if such plan no longer is in use at the time of the grant of an equity award, the meaning given such term or similar term in the equity plan then in place under which the equity award is granted (the “Plan”). Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity awards and cash and other compensation such Outside Director receives under this Policy.
Committee Chair | Annual Cash Fee | ||
Audit | $25,000 | ||
Compensation | $15,000 | ||
Nominating and Corporate Governance | $ 10,000 |
Each Outside Director of the Company who serves as a member, but not the chair, of a committee will be eligible to earn an additional annual fee as follows:
Non-Chair Committee Members | Annual Cash Fee | ||
Audit | $15,000 | ||
Compensation | $6,500 |
Nominating and Corporate Governance | $4,000 |
Further, each Outside Director who serves as the Chairperson of the Board or the Lead Director will be eligible to earn an additional annual fee of $20,000. The additional annual fees in this Section 2.2 are referred to herein as an “Additional Retainer”.
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