Document:

EX-10.3

 Exhibit 10.3 

Director Compensation Policy 
 This policy
is only intended to cover compensation for Directors of NxStage Medical, Inc. (the “Corporation”) who are not employees of the Corporation or have not been employees of the Corporation within the preceding 12 months (“Non-Employee
Directors”). Directors who are not Non-Employee Directors shall not receive compensation from the Corporation for their services as Directors. All Directors shall receive reimbursement for reasonable travel expenses incurred to attend Board and
committee meetings. 
 Non-Employee Directors shall receive a $40,000 annual retainer, to be paid quarterly, in four equal installments, in advance.
Non-Employee Directors will also be entitled to receive the following additional annual retainers, provided that committee chairs will only receive the retainers for service as committee chairs and will not also receive the retainers payable to
members serving on those committees: 
  

																											
	Additional Annual Retainers for Board Service	 
	Board
Chair	 	 	Audit
Committee
Chair	 	 	Compensation
Committee
Chair	 	 	Nominating
and
Governance
Committee
Chair	 	 	Audit
Committee
Member	 	 	Compensation
Committee
Member	 	 	Nominating
and
Governance
Committee
Member	 
	$	35,000	  	 	$	20,000	  	 	$	10,000	  	 	$	7,000	  	 	$	10,000	  	 	$	5,000	  	 	$	5,000	  

 To the extent that the Board creates ad-hoc committees in addition to the standing committees identified above, directors will
also be entitled to receive $500 per each meeting of those committees. 
 Each Non-Employee Director shall also receive on the date of each annual meeting
of the Corporation’s stockholders at which such Non-Employee Director is elected, an annual award of options to purchase shares of the Corporation’s Common Stock with a grant date fair value of $126,000. Each such option shall be granted
under, and be subject to, the Corporation’s 2005 Stock Incentive Plan or any successor plan (the “Plan”) and shall (i) be fully vested, (ii) have an exercise price equal to the closing sale price (for the primary trading
session) of the Common Stock on the Nasdaq Stock Market or the national securities exchange on which the Common Stock is then traded on the date of grant (and if the Common Stock is not then traded on a national securities exchange, the fair market
value of the Common Stock on such date as determined by the Board), (iii) expire on the earlier to occur of five years after the date of grant or three months following a Non-Employee Director’s cessation of service on the Board,
notwithstanding the foregoing, if a Non-Employee Director has served on the Board for three (3) full years, then the option shall expire five years after the date of grant even if such Director subsequently leaves the Board, and
(iv) contain such other terms and conditions as the Board shall determine. 
 For each Non-Employee Director initially elected at any time other than
at an annual meeting of the Corporation’s stockholders, such Non-Employee Director shall receive on the date of his or her election to the Board, an annual award of options to purchase shares of the Corporation’s Common Stock, on the same
terms as set forth above, with a grant date fair value of $126,000 pro-rated for the period between the date he or she is first elected to the Board and the following May 31st. 

 Such share amounts shall be automatically adjusted in the event of any stock split, reverse stock split, stock
dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event effecting the Corporation’s Common Stock, or any distribution to holders of Common Stock other than an
ordinary cash dividend. 
 Each Non-Employee Director shall have the option to elect to receive shares of the Corporation’s Common Stock in lieu of the
cash compensation to be paid hereunder (an “Equity Election”). Non-Employee Directors desiring to make an Equity Election must do so in writing on the date of the annual meeting of the Corporation’s stockholders at which such
Non-Employee Director is elected. The Equity Election will apply to all cash compensation to be paid after the date of the election and will remain in effect until the date of the next annual meeting of stockholders. Equity Elections may not be
revoked. Non-Employee Directors who make an Equity Election shall receive quarterly grants of Common Stock, on the last business day of any calendar quarter hereunder (a “Quarterly Grant Date”), in an amount equal to the quotient of the
total cash consideration such Non-Employee Director is due during that quarter (quarterly retainers plus any ad-hoc meeting fees) divided by the closing price of the Corporation’s Common Stock on the Quarterly Grant Date on the Nasdaq Stock
Market or the national securities exchange on which the Common Stock is then traded (and if the Common Stock is not then traded on a national securities exchange, the fair market value of the Common Stock on such date as determined by the Board).
Shares shall be granted under, and be subject to, the Plan. 

  
 2EX-10.1

 Exhibit 10.1 

Execution 
  

 
  

THIRD AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT 

by and among 
 TPG
SPECIALTY LENDING, INC., 
 as Borrower 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Administrative Agent 

and 
 LENDERS NAMED
HEREIN 
 as Lenders 

Dated as of: November 5, 2013 
  

 
  

 THIS THIRD AMENDMENT TO AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT (this “Third
Amendment”) is entered into as of November 5, 2013, by and among TPG SPECIALTY LENDING, INC., a Delaware corporation (“Borrower”) and DEUTSCHE BANK TRUST COMPANY AMERICAS (in its individual capacity, “Deutsche
Bank”), as a Lender, as a Letter of Credit Issuer, as Administrative Agent for Lenders and Letter of Credit Issuer, and each of the other lending institutions that becomes a Lender under the Credit Agreement. 

Recitals 
 WHEREAS,
Borrower, Lenders party thereto and Deutsche Bank, as a Lender, Letter of Credit Issuer and Administrative Agent, entered into an Amended and Restated Revolving Credit Agreement, dated as of December 22, 2011, as previously amended pursuant to
the First Amendment to Amended and Restated Revolving Credit Agreement, dated as of October 31, 2012 and the Second Amendment to Amended and Restated Revolving Credit Agreement, dated as of May 7, 2013 (as same may be amended,
supplemented, renewed, extended, replaced, or restated from time to time, the “Credit Agreement”), pursuant to which Lenders committed to make Loans to Borrower and to participate in Letters of Credit issued for the account of
Borrower pursuant to the terms thereof; and 
 WHEREAS, Borrower has requested that the Stated Maturity Date of the Credit Agreement be
amended, and Lenders have consented thereto, pursuant to the terms and conditions hereof; and 
 WHEREAS, terms used in this Third Amendment
which are defined in the Credit Agreement shall have the meanings specified therein, as applicable (unless otherwise defined herein). 

NOW, THEREFORE, for good and valuable consideration, the parties hereto hereby agree as follows: 

Section 1. Amendment to Revolving Credit Agreement. Borrower, Lenders, Letter of Credit Issuer and Administrative Agent hereby
amend the Credit Agreement, as of the date hereof, as follows: 
 (a) Section 1.1 of the Credit Agreement is hereby amended to delete
the definition of “Stated Maturity Date” and replace it with the following: 
 “Stated Maturity Date”
means June 30, 2014. 
 Section 2. Representations and Warranties. The Borrower hereby (i) confirms and reaffirms that
the representations and warranties contained in the Credit Agreement and the other Loan Documents, to the extent applicable to Borrower, are true and correct in all material respects as of the Third Amendment Date, except to the extent that they
relate to a particular date, in which case they are true and correct in all material respects on and as of such date as if made on and as of such date, (ii) confirms that, after taking into account this Third Amendment, there exists no Event of
Default or, to Borrower’s knowledge, no event, which with the giving of 

 
notice or lapse of time or both, would become an Event of Default, under the Credit Agreement, and (iii) represents and warrants that Borrower has the power and requisite authority to
execute, deliver, and perform its obligations under this Third Amendment and is duly authorized to, and has taken all action necessary to authorize it to execute, deliver, and perform its respective obligations under this Third Amendment. 

Section 3. Conditions Precedent. This Third Amendment shall become effective on the date hereof, subject to the following
conditions having been satisfied on or prior to such date: 
 (a) Third Amendment. The Administrative Agent shall have received this
Third Amendment duly executed and delivered by the Borrower and the other parties hereto. 
 (b) Closing Certificate. The
Administrative Agent shall have received from the Borrower a completed and fully executed closing certificate, in form and substance satisfactory to the Administrative Agent. 

(c) Opinions. The Administrative Agent shall have received from Borrower’s special counsel, Ropes & Gray, LLP, a legal
opinion in form and substance reasonably satisfactory to the Administrative Agent and each Lender. 
 (d) Representations and Warranties
True. The representations and warranties of the Borrower contained in the Loan Documents and in all certificates, documents and instruments delivered pursuant to the Loan Documents shall be true and correct in all material respects with the same
effect as though made on and as of the date hereof, except to the extent that they relate to a particular date, in which case they are true and correct in all material respects on and as of such date as if made on and as of such date; provided, that
any representation made in the Loan Documents as to specific financial statements is herein deemed to refer to the financial statements most recently delivered by the Borrower to the Lenders and/or the Administrative Agent. 

(e) Performance and Compliance. The Borrower shall have performed and complied in all material respects with all agreements and
conditions in this Third Amendment and the Loan Documents which are required to be performed or complied with by the Borrower on or prior to the date hereof. 

(f) Fees. All fees and expenses as set forth in Section 5 hereof for which an invoice has been presented shall have been paid by
the Borrower. 
 Section 4. Agreements in Full Force and Effect as Amended. Except as specifically amended hereby, all of the
terms and conditions of the Credit Agreement and all other Loan Documents shall remain in full force and effect, and are hereby ratified and affirmed by Borrower. All references to the Credit Agreement in any other document or instrument shall be
deemed to mean the Credit Agreement as amended by this Third Amendment. This Third Amendment shall not constitute a novation of the Credit Agreement or any other Loan Document, but shall constitute an amendment thereof. 

  
 3 

 Section 5. Fees and Expenses. In accordance with Section 9.6 of the Credit
Agreement, Borrower agrees to pay Administrative Agent all reasonable and documented out-of-pocket expenses incurred by Administrative Agent, including, without limitation, reasonable and documented legal fees, in connection with preparing,
executing, delivering and administering this Third Amendment. 
 Section 6. Counterparts. This Third Amendment may be executed
in several counterparts, each of which shall be an original. The several counterparts shall constitute a single agreement. Receipt by telecopy or any other means of electronic communication of any executed signature page to this Third Amendment
shall be effective as delivery of a manually executed counterpart of this Third Amendment. 
 Section 7. Governing Law. This
Third Amendment shall be governed by the laws of the State of New York as provided in the Credit Agreement and Borrower further agrees to submit to the jurisdiction of New York as provided therein. 

[Remainder of Page Intentionally Left Blank 

Signature Page Follows.] 

  
 4 

 IN WITNESS WHEREOF, the parties have caused this Third Amendment to be executed by their duly
authorized officers as of the date set forth above. 
  

			
	TPG SPECIALTY LENDING, INC.
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Administrative Agent, Letter of Credit Issuer and as Lender
		
	By:	 	 
	Name:	 	
	Title:	 	
		
	By:	 	 
	Name:	 	
	Title:	 	
	
	WELLS FARGO CAPITAL FINANCE, LLC, as a Lender
		
	By:	 	 
	Name:	 	
	Title:	 	

 SIGNATURE PAGE TO THIRD AMENDMENT 

DB/TPG Specialty Lending Inc.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]