Document:

Exhibit 10.25

 Exhibit 10.25 
 LIPOSCIENCE, INC. 

RESTRICTED STOCK UNIT GRANT NOTICE 

2012 EQUITY INCENTIVE PLAN 
 LipoScience, Inc. (the “Company”) hereby awards to Participant the number of restricted stock units (“RSUs”) set forth below (the
“Award”). The Award is subject to all of the terms and conditions as set forth in this Restricted Stock Unit Grant Notice (the “Notice”), the 2012 Equity Incentive Plan (the
“Plan”) and the Restricted Stock Unit Agreement (the “Award Agreement”), both of which are attached hereto and incorporated herein in their entirety. Capitalized terms not explicitly defined herein but
defined in the Plan or the Award Agreement will have the same definitions as in the Plan or the Award Agreement. In the event of any conflict between the terms of the Award and the Plan, the terms of the Plan will control. 

 

			
	 Participant:
	  	
		  	  

	 Date of Grant:
	  	
		  	  

	 Vesting Commencement Date:
	  	
		  	  

	 Number of RSUs:
	  	
		  	  

  

	Vesting Schedule:	The Award vests as to 25% of the RSUs (rounded down to the nearest whole RSU) one year after the Vesting Commencement Date, with the balance vesting as to 1/16th of the
RSUs (rounded down to the nearest whole RSU, except for the last vesting installment) every three months thereafter, subject to Participant’s Continuous Service with the Company through each such vesting date. Each installment of RSUs that
vests hereunder is a “separate payment” for purposes of Treasury Regulations Section 1.409A-2(b)(2). 

  

	Issuance Schedule:	Subject to any change on a Capitalization Adjustment, one share of Common Stock will be issued for each RSU that vests at the time set forth in Section 6 of
the Award Agreement. 

 Additional Terms/Acknowledgements: Participant acknowledges receipt of, and understands and agrees
to, this Notice, the Award Agreement, the Plan and the stock plan prospectus for this Plan. As of the Date of Grant, this Notice, the Award Agreement and the Plan set forth the entire understanding between Participant and the Company regarding the
Award and supersede all prior oral and written agreements on the terms of the Award, with the exception, if applicable, of (i) the written employment agreement or offer letter agreement entered into between the Company and Participant
specifying the terms that should govern this Award, and (ii) any compensation recovery policy that is adopted by the Company or is otherwise required by applicable law. By accepting this Award, Participant consents to receive Plan documents by
electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party designated by the Company. 

 

											
	LIPOSCIENCE, INC.	  		  	 	PARTICIPANT:
				
	 By:
	  	  
	  		  	  
	  

		  	Signature	  		  	 	Signature
					
	 Title: 
	  	  
	  		  	 	Date: 	  	  	  

					
	 Date: 
	  	  
	  		  				  	

 ATTACHMENTS: Award Agreement, 2012 Equity Incentive Plan 

  
 1. 

 LIPOSCIENCE, INC. 

2012 EQUITY INCENTIVE PLAN 

RESTRICTED STOCK UNIT AGREEMENT 

Pursuant to the Restricted Stock Unit Grant Notice (the “Grant Notice”) and this Restricted Stock Unit Agreement
(the “Agreement”) and in consideration of your services, LipoScience, Inc. (the “Company”) has awarded you a Restricted Stock Unit Award (the “Award”) under its 2012 Equity
Incentive Plan (the “Plan”) for the number of Restricted Stock Units indicated in the Grant Notice. Capitalized terms not explicitly defined in this Agreement or in the Grant Notice but defined in the Plan will have the same
definitions as in the Plan. In the event of any conflict between the terms in this Agreement and the Plan, the terms of the Plan will control. 
 The details of your Award, in addition to those set forth in the Grant Notice and the Plan, are as follows. 
 1. GRANT OF THE AWARD. The Award represents your right to be issued on a future date one share of Common Stock for each Restricted
Stock Unit that vests. 
 2. VESTING. Your Restricted Stock Units will vest as provided in the
Grant Notice. Vesting will cease upon the termination of your Continuous Service. Any Restricted Stock Units that have not yet vested will be forfeited on the termination of your Continuous Service. 

3. NUMBER OF RESTRICTED STOCK UNITS &
SHARES OF COMMON STOCK.  
 (a) The Restricted Stock
Units subject to your Award will be adjusted for Capitalization Adjustments, as provided in the Plan. 
 (b) Any
additional Restricted Stock Units and any shares, cash or other property that become subject to the Award pursuant to this Section 3 will be subject, in a manner determined by the Board, to the same forfeiture restrictions, restrictions on
transferability, and time and manner of delivery as applicable to the other Restricted Stock Units and shares covered by your Award. 
 (c) No fractional shares or rights for fractional shares of Common Stock will be created pursuant to this Section 3. Any fraction of a share will be rounded down to the nearest whole share.

 4. SECURITIES LAW COMPLIANCE. You will not be issued any Common
Stock underlying the Restricted Stock Units or other shares with respect to your Restricted Stock Units unless either (i) the shares are registered under the Securities Act, or (ii) the Company has determined that such issuance would be
exempt from the registration requirements of the Securities Act. Your Award also must comply with other applicable laws and regulations governing the Award, and you will not receive shares underlying your Restricted Stock Units if the Company
determines that such receipt would not be in material compliance with such laws and regulations. 

  
 2. 

 5. TRANSFERABILITY. Prior to the time that shares of Common
Stock have been delivered to you, you may not transfer, pledge, sell or otherwise dispose of any portion of the Restricted Stock Units or the shares in respect of your Restricted Stock Units. For example, you may not use shares that may be issued in
respect of your Restricted Stock Units as security for a loan, nor may you transfer, pledge, sell or otherwise dispose of such shares. This restriction on transfer will lapse upon delivery to you of shares in respect of your vested Restricted Stock
Units. 
 (a) Death. Your Restricted Stock Units are not transferable other than by will and by the laws of
descent and distribution. Upon receiving written permission from the Board or its duly authorized designee, you may, by delivering written notice to the Company, in a form provided by or otherwise satisfactory to the Company and any broker
designated by the Company to effect transactions under the Plan, designate a third party who, in the event of your death, will thereafter be entitled to receive any distribution of Common Stock or other consideration to which you were entitled at
the time of your death pursuant to this Agreement. In the absence of such a designation, your executor or administrator of your estate will be entitled to receive, on behalf of your estate, such Common Stock or other consideration. 

(b) Domestic Relations Orders. Upon receiving written permission from the Board or its duly authorized designee, and
provided that you and the designated transferee enter into transfer and other agreements required by the Company, you may transfer your right to receive the distribution of Common Stock or other consideration under your Restricted Stock Units,
pursuant to the terms of a domestic relations order or official marital settlement agreement that contains the information required by the Company to effectuate the transfer. You are encouraged to discuss with the Company’s General Counsel the
proposed terms of any such transfer prior to finalizing the domestic relations order or marital settlement agreement to help ensure the required information is contained within the domestic relations order or marital settlement agreement. The
Company is not obligated to allow you to transfer your Award in connection with your domestic relations order or marital settlement agreement. 
 6. DATE OF ISSUANCE. 
 (a)
The issuance of shares in respect of the Restricted Stock Units is intended to comply with Treasury Regulations Section 1.409A-1(b)(4) and will be construed and administered in such a manner. 

(b) Subject to the satisfaction of the withholding obligations set forth in Section 10 of this Agreement, in the event one or
more Restricted Stock Units vests, the Company will issue to you, on the applicable vesting date, one share of Common Stock for each Restricted Stock Unit that vests and such issuance date is referred to as the “Original Issuance
Date.” If the Original Issuance Date falls on a date that is not a business day, delivery will instead occur on the next following business day. 

  
 3. 

 (c) However, if (i) the Original Issuance Date does not occur
(1) during an “open window period” applicable to you, as determined by the Company in accordance with the Company’s then-effective policy on trading in Company securities, or (2) on a date when you are otherwise permitted to
sell shares of Common Stock on an established stock exchange or stock market (including but not limited to under a previously established Company-approved 10b5-1 trading plan), and (ii) the Company elects, prior to the Original Issuance
Date, (1) not to satisfy the Withholding Taxes described in Section 10 by withholding shares of Common Stock from the shares otherwise due, on the Original Issuance Date, to you under this Award, (2) not to permit you to enter into a
“same day sale” commitment with a broker-dealer pursuant to Section 10 of this Agreement (including but not limited to a commitment under a previously established Company-approved 10b5-1 trading plan) and (3) not to permit you to
pay your Withholding Taxes in cash, then the shares that would otherwise be issued to you on the Original Issuance Date will not be delivered on such Original Issuance Date and will instead be delivered on the first business day when you are
not prohibited from selling shares of the Company’s Common Stock in the open public market, but in no event later than December 31 of the calendar year in which the Original Issuance Date occurs (that is, the last day of your taxable year
in which the Original Issuance Date occurs), or, if and only if permitted in a manner that complies with Treasury Regulations Section 1.409A-1(b)(4), no later than the date that is the 15th day of the third calendar month of the year following
the year in which the shares of Common Stock under this Award are no longer subject to a “substantial risk of forfeiture” within the meaning of Treasury Regulations Section 1.409A-1(d). 

7. DIVIDENDS. You will receive no benefit or adjustment to your Restricted Stock Units with respect to any
cash dividend, stock dividend or other distribution except as provided in the Plan with respect to a Capitalization Adjustment. 

8. RESTRICTIVE LEGENDS. The Common Stock issued with respect to your Restricted Stock Units
will be endorsed with appropriate legends determined by the Company. 
 9. AWARD NOT
A SERVICE CONTRACT. Your Continuous Service is not for any specified term and may be terminated by you or by the Company or an Affiliate at any time, for any reason, with or without cause and with or
without notice. Nothing in this Agreement (including, but not limited to, the vesting of your Restricted Stock Units or the issuance of the shares subject to your Restricted Stock Units), the Plan or any covenant of good faith and fair dealing that
may be found implicit in this Agreement or the Plan shall: (i) confer upon you any right to continue in the employ or service of, or affiliation with, the Company or an Affiliate; (ii) constitute any promise or commitment by the Company or
an Affiliate regarding the fact or nature of future positions, future work assignments, future compensation or any other term or condition of employment or affiliation; (iii) confer any right or benefit under this Agreement or the Plan unless
such right or benefit has specifically accrued under the terms of this Agreement or Plan; or (iv) deprive the Company of the right to terminate you at will and without regard to any future vesting opportunity that you may have. 

10. WITHHOLDING OBLIGATIONS. 

(a) On each vesting date, and on or before the time you receive a distribution of the shares underlying your Restricted Stock
Units, and at any other time as reasonably 

  
 4. 

 
requested by the Company in accordance with applicable tax laws, you agree to make adequate provision for any sums required to satisfy the federal, state, local and foreign tax withholding
obligations of the Company or any Affiliate that arise in connection with your Award (the “Withholding Taxes”). Specifically, the Company or an Affiliate may, in its sole discretion, satisfy all or any portion of the
Withholding Taxes relating to your Award by any of the following means or by a combination of such means: (i) withholding from any compensation otherwise payable to you by the Company or an Affiliate; (ii) causing you to tender a cash
payment; (iii) permitting or requiring you to enter into a “same day sale” commitment with a broker-dealer that is a member of the Financial Industry Regulatory Authority (a “FINRA Dealer”) whereby you
irrevocably elect to sell a portion of the shares to be delivered in connection with your Restricted Stock Units to satisfy the Withholding Taxes and whereby the FINRA Dealer irrevocably commits to forward the proceeds necessary to satisfy the
Withholding Taxes directly to the Company and/or its Affiliates; or (iv) withholding shares of Common Stock from the shares of Common Stock issued or otherwise issuable to you in connection with your Restricted Stock Units with a Fair Market
Value (measured as of the date shares of Common Stock are issued to you) equal to the amount of such Withholding Taxes; provided, however, that the number of such shares of Common Stock so withheld will not exceed the amount necessary to
satisfy the Company’s required tax withholding obligations using the minimum statutory withholding rates for federal, state, local and foreign tax purposes, including payroll taxes, that are applicable to supplemental taxable income.

 (b) Unless the Withholding Taxes of the Company and/or any Affiliate are satisfied, the Company will have no
obligation to deliver to you any Common Stock. 
 (c) In the event the Company’s obligation to withhold arises prior
to the delivery to you of Common Stock or it is determined after the delivery of Common Stock to you that the amount of the Company’s withholding obligation was greater than the amount withheld by the Company, you agree to indemnify and hold
the Company harmless from any failure by the Company to withhold the proper amount. 
 11. UNSECURED
OBLIGATION. Your Award is unfunded, and as a holder of vested Restricted Stock Units, you will be considered an unsecured creditor of the Company with respect to the Company’s obligation, if any, to issue shares or other
property pursuant to this Agreement. You will not have voting or any other rights as a stockholder of the Company with respect to the shares to be issued pursuant to this Agreement until such shares are issued to you. Upon such issuance, you will
obtain full voting and other rights as a stockholder of the Company. Nothing contained in this Agreement, and no action taken pursuant to its provisions, will create or be construed to create a trust of any kind or a fiduciary relationship between
you and the Company or any other person. 
 12. OTHER DOCUMENTS. You hereby
acknowledge receipt of and the right to receive a document providing the information required by Rule 428(b)(1) promulgated under the Securities Act, which includes the Plan prospectus. In addition, you acknowledge receipt of the Company’s
policy permitting certain individuals to sell shares only during certain “window” periods and the Company’s insider trading policy, in effect from time to time. 

  
 5. 

 13. NOTICES. Any notices provided for in this Agreement or the
Plan will be given in writing (including electronically) and will be deemed effectively given upon receipt or, in the case of notices delivered by the Company to you, five days after deposit in the U.S. mail, postage prepaid, addressed to you at the
last address you provided to the Company. The Company may, in its sole discretion, decide to deliver any documents related to participation in the Plan and this Award by electronic means or to request your consent to participate in the Plan by
electronic means. By accepting this Award, you consent to receive such documents by electronic delivery and to participate in the Plan through an on-line or electronic system established and maintained by the Company or another third party
designated by the Company. 
 14. MISCELLANEOUS. 

(a) The rights and obligations of the Company under your Award will be transferable to any one or more persons or entities, and
all covenants and agreements hereunder will inure to the benefit of, and be enforceable by the Company’s successors and assigns. 
 (b) You agree upon request to execute any further documents or instruments necessary or desirable in the sole determination of the Company to carry out the purposes or intent of your Award.

 (c) You acknowledge and agree that you have reviewed your Award in its entirety, have had an opportunity to obtain the
advice of counsel prior to executing and accepting your Award, and fully understand all provisions of your Award. 
 (d)
This Agreement will be subject to all applicable laws, rules, and regulations, and to such approvals by any governmental agencies or national securities exchanges as may be required. 

(e) All obligations of the Company under the Plan and this Agreement will be binding on any successor to the Company, whether the
existence of such successor is the result of a direct or indirect purchase, merger, consolidation, or otherwise, of all or substantially all of the business and/or assets of the Company. 

15. GOVERNING PLAN DOCUMENT. Your Award is subject to all the provisions of
the Plan, the provisions of which are hereby made a part of your Award, and is further subject to all interpretations, amendments, rules and regulations which may from time to time be promulgated and adopted pursuant to the Plan. Except as expressly
provided in this Agreement, in the event of any conflict between the provisions of your Award and those of the Plan, the provisions of the Plan will control. In addition, your Award (and any compensation paid or shares issued under your Award) is
subject to recoupment in accordance with The Dodd–Frank Wall Street Reform and Consumer Protection Act and any implementing regulations thereunder, any clawback policy adopted by the Company and any compensation recovery policy otherwise
required by applicable law. No recovery of compensation under such a clawback policy will be an event giving rise to a right to voluntarily terminate employment upon a Resignation for Good Reason, or for a “constructive termination” or any
similar term under any plan of or agreement with the Company. 

  
 6. 

 16. SEVERABILITY. If all or any part of this Agreement or the
Plan is declared by any court or governmental authority to be unlawful or invalid, such unlawfulness or invalidity will not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any Section of this Agreement
(or part of such a Section) so declared to be unlawful or invalid shall, if possible, be construed in a manner which will give effect to the terms of such Section or part of a Section to the fullest extent possible while remaining lawful and valid.

 17. EFFECT ON OTHER EMPLOYEE BENEFIT
PLANS. The value of the Award subject to this Agreement will not be included as compensation, earnings, salaries, or other similar terms used when calculating the Employee’s benefits under any employee benefit plan sponsored
by the Company or any Affiliate, except as such plan otherwise expressly provides. The Company expressly reserves its rights to amend, modify, or terminate any of the Company’s or any Affiliate’s employee benefit plans. 

18. AMENDMENT. Any amendment to this Agreement must be in writing, signed by a duly authorized
representative of the Company. The Board reserves the right to amend this Agreement in any way it may deem necessary or advisable to carry out the purpose of the grant as a result of any change in applicable laws or regulations or any future law,
regulation, interpretation, ruling, or judicial decision. 
 19. COMPLIANCE WITH
SECTION 409A OF THE CODE. This Award is intended to comply with the “short-term deferral” rule set forth in Treasury
Regulation Section 1.409A-1(b)(4). However, if this Award fails to satisfy the requirements of the short-term deferral rule and is otherwise not exempt from, and therefore deemed to be deferred compensation subject to, Section 409A of the
Code, and if you are a “Specified Employee” (within the meaning set forth Section 409A(a)(2)(B)(i) of the Code) as of the date of your separation from service (within the meaning of Treasury Regulation Section 1.409A-1(h)), then
the issuance of any shares that would otherwise be made upon the date of the separation from service or within the first six months thereafter will not be made on the originally scheduled dates and will instead be issued in a lump sum on the date
that is six months and one day after the date of the separation from service, with the balance of the shares issued thereafter in accordance with the original vesting and issuance schedule set forth above, but if and only if such delay in the
issuance of the shares is necessary to avoid the imposition of taxation on you in respect of the shares under Section 409A of the Code. Each installment of shares that vests is a “separate payment” for purposes of Treasury Regulation
Section 1.409A-2(b)(2). 
 20. NO OBLIGATION TO
MINIMIZE TAXES. The Company has no duty or obligation to minimize the tax consequences to you of this Award and will not be liable to you for any adverse tax consequences to you arising in connection with this
Award. You are hereby advised to consult with your own personal tax, financial and/or legal advisors regarding the tax consequences of this Award and by signing the Grant Notice, you have agreed that you have done so or knowingly and voluntarily
declined to do so. 

*            *          
  * 
 This Restricted Stock Unit Agreement will be deemed to be signed by you upon the signing by you of the
Restricted Stock Unit Grant Notice to which it is attached. 

  
 7.Exhibit 10.26.1

 Exhibit 10.26.1 

LIPOSCIENCE, INC. 

NON-EMPLOYEE DIRECTOR 

COMPENSATION POLICY 
 On May 24, 2012, the Board of Directors (the “Board”) of LipoScience, Inc. (the “Company”) approved the following compensation policy (the
“Policy”) for non-employee directors of the Company. This Policy will not be effective until the date of the initial underwritten public offering of the Company’s common stock (the “IPO”).

 CASH COMPENSATION 
 Each non-employee director will receive the following cash compensation for annual service on the Board and on a committee of the Board: 

 

	 	•	 	 a $35,000 annual retainer for service as a Board member; 

 

	 	•	 	 an additional $10,000 annual retainer for service as Chairman of the Board; 

 

	 	•	 	 an additional $7,500 annual retainer for service as Chairman of the Audit Committee; 

 

	 	•	 	 an additional $7,500 annual retainer for service as Chairman of the Compensation Committee; and 

 

	 	•	 	 an additional $3,750 annual retainer for service as Chairman of the Nominating and Governance Committee. 

The annual cash compensation amounts described above will be paid in equal quarterly installments, in advance, on the first day of each
calendar quarter in which the service will be performed (and pro-rated for the calendar quarter in which the IPO occurs). If a non-employee director joins the Board or becomes the Chairman or a Chairman of a committee at a time other than effective
as of the first day of a calendar year, each annual retainer and fee described above will be pro-rated based on days served in the applicable calendar year, with the pro-rated amount paid for the first calendar quarter in which the non-employee
director provides the service, and regular full quarterly payments thereafter. All annual fees are vested as of the last day of the applicable quarter. 
 EQUITY COMPENSATION 
 Each non-employee
director will be eligible to compensatory equity awards under the Company’s 2012 Equity Incentive Plan (the “Plan”) as additional consideration for service on the Board. All grants under this Policy will be made
automatically in accordance with the terms of this Policy and the Plan, without the need for any additional corporate action by the Board or the Compensation Committee of the Board. Vesting of all equity awards granted under this Policy is subject
to the non-employee director’s “Continuous Service” (as defined in the Plan) from the date of grant through each applicable vesting date. Each equity award granted under this Policy will be subject to the Company’s standard form
of Stock Option Agreement or Restricted Stock Unit Agreement, as applicable, as most recently adopted by the Board for use under this Policy. 

  
 1 

 All stock options granted under this Policy will be nonstatutory stock options, with a
maximum term of ten years from the date of grant and an exercise price per share equal to 100% of the Fair Market Value (as defined in the Plan) of the underlying common stock of the Company on the date of grant. 

Valuation Rules. Each kind of equity award described below will be granted so that 75% of the value attributable to the award will
be in stock options, and 25% of the value will be in restricted stock units. Value will be determined as follows: 
  

	 	•	 	 For stock options, the number of shares subject to the stock option will be equal to (i) 75% of applicable dollar value of the grant,
(ii) divided by the Fair Market Value, on the date of grant, of the common stock of the Company and (iii) further divided by 50% (which percentage represents an assumed accounting valuation of a stock option to acquire the Company’s
common stock in the absence of having a sufficient public company trading history to accurately calculate a Black Scholes value). 

  

	 	•	 	 For restricted stock units, the number of restricted stock units granted will be equal to (i) 25% of the applicable dollar value of the grant,
(ii) divided by the Fair Market Value, on the date of grant, of the common stock of the Company. 

Initial Equity Award for New Non-Employee Directors. For each individual who first becomes a non-employee director (and
provided he or she was not, within the year prior to becoming a non-employee director, serving as either an employee-director or an executive officer of the Company), the Company will automatically grant such director on the date that he or she is
first elected or appointed to the Board, stock options and restricted stock units (collectively, the “Initial Equity Award”) with an aggregate value (determined under the Valuation Rules) on the date of grant of $55,000. Each
component of the Initial Equity Award will vest, subject to continued service, in two equal annual installments on the first and second anniversaries of the date of grant (or, in the case of a new non-employee director elected at a regular annual
meeting of the Company’s stockholders (an “Annual Meeting”), immediately prior to the first and second Annual Meetings thereafter). 
 Annual Equity Award. Each year, on the date of the Annual Meeting, the Company will automatically grant each continuing non-employee director who is re-elected at such meeting or who is not up for
re-election at such meeting but continues to serve immediately following such meeting, and each non-employee director who is elected for the first time at such meeting, stock options and restricted stock units (collectively, the “Annual
Equity Award”) with an aggregate value (determined under the Valuation Rules) on the date of grant of $30,000. Each component of the Annual Equity Award will vest, subject to continued service, in four equal quarterly installments over
the one-year period measured from the date of grant (on the dates that are three, six, nine and twelve months after the date of the Annual Meeting, with each such vesting date referred to as a “Regular Quarterly Vesting
Date”); provided, however, that in the case of a Non-Continuing Director, if the next Annual Meeting occurs before the end of such twelfth 

  
 2 

 
month and such Non-Continuing Director continues to serve as a director immediately prior to such next Annual Meeting, then his or her Annual Equity Award shall vest in full on the date of such
next Annual Meeting. For this purpose, a “Non-Continuing Director” shall be any non-employee director who is up for re-election at the next Annual Meeting and is not re-elected, who does not stand for re-election at the next
Annual Meeting or who resigns effective as of the next Annual Meeting. 
 Pro-Rated Annual Equity Award for New Non-Employee
Directors. If an individual first becomes a non-employee director other than at the Annual Meeting (and provided he or she was not, within the year prior to becoming a non-employee director, serving as either an employee-director or an executive
officer of the Company), in addition to an Initial Equity Award, the Company will automatically grant such new non-employee director, on the date that he or she is first elected or appointed to the Board, stock options and restricted stock units
(collectively, the “Pro-Rated Annual Equity Award”) with an aggregate value (determined under the Valuation Rules) on the date of grant equal to $30,000, reduced pro rata for each month prior to the date of grant that has
elapsed since the preceding Annual Meeting. Each component of the Annual Equity Award will vest, subject to continued service, in installments on the remaining Regular Quarterly Vesting Dates for that year (with the amount vesting on the first
Regular Quarterly Vesting Date to occur after the date of grant pro-rated based on the number of days from the date of grant until such Regular Quarterly Vesting Date). 
 Annual Equity Award for the Chairman of the Board. Each year, on the date of the Annual Meeting, the Company will automatically grant the Chairman of the Board stock options and restricted stock
units (collectively, the “Annual Chairman Equity Award”) with an aggregate value (determined under the Valuation Rules) on the date of grant of $13,000. Each component of the Annual Chairman Equity Award will vest, subject to
continued service, in four equal quarterly installments over the one-year period measured from the date of grant (on the dates that are three, six, nine and twelve months after the date of the Annual Meeting); provided, however, that in the event
the Chairman is a Non-Continuing Director, if the next Annual Meeting occurs before the end of such twelfth month and such Non-Continuing Director continues to serve as a director immediately prior to such next Annual Meeting, then his or her Annual
Chairman Equity Award shall vest in full on the date of such next Annual Meeting. 
 Special Vesting Provisions. For each
non-employee director who is in the Continuous Service of the Company as a member of the Board as of immediately prior to the closing of a “Change in Control” (as defined in the 2011 Plan), all then-outstanding and unvested compensatory
equity awards granted under this Policy will become fully vested (and exercisable, if applicable) as of immediately prior to the closing of such Change in Control. 
 Special Termination Provisions. Each stock option granted to a non-employee director under this Policy will have a term of not more than ten years, with the ordinary course expiration date being
the day before the tenth anniversary of the date of grant. On the termination of a director’s Continuous Service for any reason other than Cause, he or she will have a post-termination exercise period equal to the ordinary term of the option,
subject to any earlier termination in connection with a Corporate Transaction or a dissolution or liquidation event, as provided in the Plan. 

  
 3

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