Document:

EX-10.3

 Exhibit 10.3 

FORMA THERAPEUTICS HOLDINGS, INC. 

NON-EMPLOYEE DIRECTOR COMPENSATION POLICY 

The purpose of this Non-Employee Director Compensation Policy (the “Policy”) of Forma
Therapeutics Holdings, 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 or its subsidiaries (“Outside Directors”). This Policy will become effective as of the effective time of the registration statement for the Company’s initial public offering of equity securities (the “Effective
Date”). In furtherance of the purpose stated above, all Outside Directors shall be paid compensation for services provided to the Company as set forth below: 
  

	 	I.	 Cash Retainers 

(a)    Annual Retainer for Board Membership: $40,000 for general availability and participation in meetings and
conference calls of our Board of Directors. No additional compensation for attending individual Board meetings. 

(b)    Additional Annual Retainers for Committee Membership: 

 

					
	 Audit Committee Chairperson:
	  	$	15,000	 
		
	 Audit Committee member:
	  	$	7,500	 
		
	 Compensation Committee Chairperson:
	  	$	10,000	 
		
	 Compensation Committee member:
	  	$	5,000	 
		
	 Nominating and Corporate Governance Committee Chairperson:
	  	$	8,000	 
		
	 Nominating and Corporate Governance Committee member:
	  	$	4,000	 
		
	 Research & Development Committee Chairperson:
	  	$	10,000	 
		
	 Research & Development Committee member:
	  	$	5,000	 

 (c)    Additional Annual Retainer for
Non-Executive Chairman of the Board: $30,000. 
  

	 	II.	 Equity Retainers 

All grants of equity retainer awards to Outside Directors pursuant to this Policy will be automatic and nondiscretionary and will be made in accordance with
the following provisions: 
 (d)    Revisions. Subject to approval from the Board of Directors, the Compensation
Committee may change and otherwise revise the terms of awards to be granted under this Policy, including, without limitation, the number of shares subject thereto, for awards of the same or different type granted on or after the date the
Compensation Committee determines to make any such change or revision. 

 (e)    Sale Event Acceleration. In the event of a Sale Event (as
defined in the Company’s 2020 Stock Option and Incentive Plan (the “2020 Plan”)), the equity retainer awards granted to Outside Directors pursuant to this Policy shall become 100% vested and exercisable. 

(f)    Initial Grant. Following the Effective Date, each new Outside Director will receive an initial, one-time
stock option grant to purchase 42,080 shares of the Company’s common stock (the “Initial Grant”). 33.3% of the shares subject to the Initial Grant shall vest and become exercisable on the first anniversary of the applicable vesting
commencement date and the remaining 66.7% of the shares subject to the Initial Grant shall vest and become exercisable in 24 equal monthly installments thereafter; provided, however, that all vesting ceases if the director ceases to provide services
to the Company, unless the Board of Directors determines that the circumstances warrant continuation of vesting. 

(g)    Annual Grant. On the date of the Company’s annual meeting of stockholders, each Outside Director who
will continue as a member of the Board of Directors following such annual meeting of stockholders will receive a stock option grant on the date of such Annual Meeting to purchase 17,533 shares of the Company’s common stock (the “Annual
Grant”). All of the shares subject to the Annual Grant shall vest and become exercisable upon the earlier to occur of (i) the first anniversary of the grant date or (ii) the date of the next Annual Meeting of Stockholders;
provided, however, that all vesting ceases if the director ceases to provide services to the Company, unless the Board of Directors determines that the circumstances warrant continuation of vesting. 

 

	 	III.	 Expenses 

The Company will reimburse all reasonable out-of-pocket expenses incurred by
Outside Directors in attending meetings of the Board of Directors or any Committee thereof. 
  

	 	IV.	 Maximum Annual Compensation 

The aggregate amount of compensation, including both equity compensation and cash compensation, paid to any Outside Director in a calendar year period shall
not exceed $750,000; provided, however that such amount shall be $1,000,000 for the calendar year in which the applicable Outside Director is initially elected or appointed to the Board (or such other limit as may be set forth in Section 3(b)
of the 2020 Plan or any similar provision of a successor plan). For this purpose, the “amount” of equity compensation paid in a calendar year shall be determined based on the grant date fair value thereof, as determined in accordance with
ASC 718 or its successor provision, but excluding the impact of estimated forfeitures related to service-based vesting conditions. 
 Date Approved:
May 14, 2020EX-10.4

 Exhibit 10.4 

FORMA THERAPEUTICS HOLDINGS, INC. 

SENIOR EXECUTIVE CASH INCENTIVE BONUS PLAN 
  

	1.	 Purpose 

This Senior Executive Cash Incentive Bonus Plan (the “Incentive Plan”) is intended to provide an incentive for superior work and to
motivate eligible executives of Forma Therapeutics Holdings, Inc. (the “Company”) and its subsidiaries toward even higher achievement and business results, to tie their goals and interests to those of the Company and its stockholders and
to enable the Company to attract and retain highly qualified executives. The Incentive Plan is for the benefit of Covered Executives (as defined below). 
  

	2.	 Covered Executives 

From time to time, the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”) may select
certain key executives (the “Covered Executives”) to be eligible to receive bonuses hereunder. Participation in this Plan does not change the “at will” nature of a Covered Executive’s employment with the Company. 

 

	3.	 Administration 

The Compensation Committee shall have the sole discretion and authority to administer and interpret the Incentive Plan. 

 

	4.	 Bonus Determinations 

(a) Corporate Performance Goals. A Covered Executive may receive a bonus payment under the Incentive Plan based upon the attainment of
one or more performance objectives that are established by the Compensation Committee and relate to financial and operational metrics with respect to the Company or any of its subsidiaries (the “Corporate Performance Goals”), including the
following: cash flow (including, but not limited to, operating cash flow and free cash flow); achievement of specified research and development, publication, clinical, regulatory and/or commercial milestones; revenue; corporate revenue; earnings
before interest, taxes, depreciation and amortization; net income (loss) (either before or after interest, taxes, depreciation and/or amortization); changes in the market price of the Company’s common stock; economic value-added; acquisitions
or strategic transactions, including licenses, collaborations, joint ventures or promotion arrangements; operating income (loss); return on capital, assets, equity, or investment; total stockholder returns; productivity; expense efficiency; margins;
operating efficiency; customer satisfaction; working capital; earnings (loss) per share of the Company’s common stock; sales or market shares; operating income and/or net annual recurring revenue, any of which may be (A) measured in
absolute terms or compared to any incremental increase, (B) measured in terms of growth, (C) compared to another company or companies or to results of a peer group, (D) measured against the market as a whole and/or as compared to
applicable market indices and/or (E) measured on a pre-tax or post-tax basis (if applicable). Further, any Corporate Performance Goals may be used to measure the
performance of the Company as a whole or a business unit or other segment of the Company, or one or more product lines or specific markets. The Corporate Performance Goals may differ from Covered Executive to Covered Executive.  

 (b) Calculation of Corporate Performance Goals. At the beginning of each applicable
performance period, the Compensation Committee will determine whether any significant element(s) will be included in or excluded from the calculation of any Corporate Performance Goal with respect to any Covered Executive. In all other
respects, Corporate Performance Goals will be calculated in accordance with the Company’s financial statements, generally accepted accounting principles, or under a methodology established by the Compensation Committee at the beginning of the
performance period and which is consistently applied with respect to a Corporate Performance Goal in the relevant performance period. 
 (c)
Target; Minimum; Maximum. Each Corporate Performance Goal shall have a “target” (100 percent attainment of the Corporate Performance Goal) and may also have a “minimum” hurdle and/or a “maximum” amount. 

(d) Bonus Requirements; Individual Goals. Except as otherwise set forth in this Section 4(d): (i) any bonuses paid to Covered
Executives under the Incentive Plan shall be based upon objectively determinable bonus formulas that tie such bonuses to one or more performance targets relating to the Corporate Performance Goals, (ii) bonus formulas for Covered Executives
shall be adopted in each performance period by the Compensation Committee and communicated to each Covered Executive at the beginning of each performance period and (iii) no bonuses shall be paid to Covered Executives unless and until the
Compensation Committee makes a determination with respect to the attainment of the performance targets relating to the Corporate Performance Goals. Notwithstanding the foregoing, the Compensation Committee may adjust bonuses payable under the
Incentive Plan based on achievement of one or more individual performance objectives or pay bonuses (including, without limitation, discretionary bonuses) to Covered Executives under the Incentive Plan based on individual performance goals and/or
upon such other terms and conditions as the Compensation Committee may in its discretion determine. 
 (e) Individual Target Bonuses.
The Compensation Committee shall establish a target bonus opportunity for each Covered Executive for each performance period. For each Covered Executive, the Compensation Committee shall have the authority to apportion the target award so that a
portion of the target award shall be tied to attainment of Corporate Performance Goals and a portion of the target award shall be tied to attainment of individual performance objectives. 

(f) Employment Requirement. Subject to any additional terms contained in a written agreement between the Covered Executive and the
Company, the payment of a bonus to a Covered Executive with respect to a performance period shall be conditioned upon the Covered Executive’s employment by the Company on the bonus payment date. If a Covered Executive was not employed for an
entire performance period, the Compensation Committee may pro rate the bonus based on the number of days employed during such period. 

	5.	 Timing of Payment 

(a) With respect to Corporate Performance Goals established and measured on a basis more frequently than annually (e.g., quarterly or
semi-annually), the Corporate Performance Goals will be measured at the end of each performance period after the Company’s financial reports with respect to such period(s) have been published. If the Corporate Performance Goals and/or
individual goals for such period are met, payments will be made as soon as practicable following the end of such period, but not later 74 days after the end of the fiscal year in which such performance period ends. 

(b) With respect to Corporate Performance Goals established and measured on an annual or multi-year basis, Corporate Performance Goals will be
measured as of the end of each such performance period (e.g., the end of each fiscal year) after the Company’s financial reports with respect to such period(s) have been published. If the Corporate Performance Goals and/or individual goals for
any such period are met, bonus payments will be made as soon as practicable, but not later than 74 days after the end of the relevant fiscal year. 

(c) For the avoidance of doubt, bonuses earned at any time in a fiscal year must be paid no later than 74 days after the last day of such
fiscal year. 
  

	6.	 Amendment and Termination 

The Company reserves the right to amend or terminate the Incentive Plan at any time in its sole discretion. 

ADOPTED: May 14, 2020, effective as of the effective date of the Registration Statement on Form S-1.

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