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- 10-K Annual report
- 4.1 Exhibit 4.1
- 4.8 Exhibit 4.8
- 10.4 Exhibit 10.4
- 10.4.1 Exhibit 10.4.1
- 10.4.2 Exhibit 10.4.2
- 10.4.3 Exhibit 10.4.3
- 10.4.4 Exhibit 10.4.4
- 10.4.5 Exhibit 10.4.5
- 10.4.6 Exhibit 10.4.6
- 10.4.7 Exhibit 10.4.7
- 10.4.8 Exhibit 10.4.8
- 10.8 Exhibit 10.8
- 21.1 Exhibit 21.1
- 23.1 Exhibit 23.1
- 31.1 Exhibit 31.1
- 31.2 Exhibit 31.2
- 32.1 Exhibit 32.1
- 32.2 Exhibit 32.2
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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 | $40,000 | Equity issued quarterly | stock units with a value | options or restricted |
Non-Executive Chair | $40,000 | in arrears to each | of $45,000. Director | stock units with a value |
Audit Committee Chair | $20,000 | director under the Plan. | can elect the form of | of $50,000. Incoming |
Compensation Committee Chair | $13,000 | Vested on grant. | equity. Cliff vesting at | director can elect the |
CG & Nominating Committee Chair | $10,000 | 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 options | subject to forfeiture if not vested. | anniversaries of the date of grant. |
| (1) | 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”). |
| (2) | 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. |