Attached files
file | filename |
---|---|
10-K - 10-K - ENTELLUS MEDICAL INC | entl-10k_20151231.htm |
EX-10.13 - EX-10.13 - ENTELLUS MEDICAL INC | entl-ex1013_1077.htm |
EX-32.2 - EX-32.2 - ENTELLUS MEDICAL INC | entl-ex322_790.htm |
EX-10.21 - EX-10.21 - ENTELLUS MEDICAL INC | entl-ex1021_1079.htm |
EX-10.17 - EX-10.17 - ENTELLUS MEDICAL INC | entl-ex1017_1078.htm |
EX-23.1 - EX-23.1 - ENTELLUS MEDICAL INC | entl-ex231_1076.htm |
EX-31.2 - EX-31.2 - ENTELLUS MEDICAL INC | entl-ex312_791.htm |
EX-32.1 - EX-32.1 - ENTELLUS MEDICAL INC | entl-ex321_789.htm |
EX-31.1 - EX-31.1 - ENTELLUS MEDICAL INC | entl-ex311_788.htm |
EX-21.1 - EX-21.1 - ENTELLUS MEDICAL INC | entl-ex211_1075.htm |
Exhibit 10.14
Entellus Medical, Inc.
Non-Employee Director Compensation Program
Effective January 9, 2016
This Entellus Medical, Inc. (the “Company”) Non-Employee Director Compensation Program (this “Program”) for non-employee directors (the “Directors”) of the board of directors of the Company (the “Board”) shall be effective on the date set forth above (the “Effective Date”). Capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Entellus Medical, Inc. 2015 Incentive Award Plan (the “Plan”). The original Program was effective upon the closing of the Company’s initial public offering of its common stock (the “Original Effective Date”).
Cash Compensation
Effective upon the Effective Date, Directors will become entitled to receive annual retainers in the following amounts, pro-rated for any partial year of service:
Director: |
$35,000 |
Chairman: |
$40,000 |
Chair of Audit Committee: |
$20,000 |
Chair of Compensation Committee: |
$15,000 |
Chair of Nominating and Corporate Governance Committee: |
$10,000 |
Audit Committee Member (Non-Chair): |
$10,000 |
Compensation Committee Member (Non-Chair): |
$7,500 |
Nominating and Corporate Governance Committee (Non-Chair): |
$5,000 |
All annual retainers will be paid in cash quarterly in arrears promptly following the end of the applicable calendar quarter, but in no event more than thirty (30) days after the end of such quarter. For the avoidance of doubt, no Director will receive any annual retainer (or portion thereof) with respect to services provided to the Company prior to the Original Effective Date. |
Equity Compensation
Miscellaneous
Each Initial Option and each Annual Option shall be a Non-Qualified Stock Option and shall have a maximum term of ten years from the applicable date of grant. All applicable terms of the Plan apply to this Program as if fully set forth herein, and all grants of Options are hereby subject in all respect to the terms of the Plan. The grant of any Option under this Program shall be made solely by and subject to the terms set forth in a written Award Agreement in a form approved by the Board and duly executed by an executive officer of the Company.
Effectiveness, Amendment, Modification and Termination
This Program shall become effective upon the Effective Date. This Program may be amended, modified or terminated by the Board in the future at its sole discretion. No Director shall have any rights hereunder, except with respect to any Options actually granted pursuant to the Program.