Document:

sens_Ex10_19

		

			Exhibit 10.19

		

		
			Senseonics Holdings, Inc.
		

		
			 
		

		
			Non-Employee Director Compensation Policy
		

		
			(As amended on June 21, 2017)
		

		
			 
		

		
			Each member of the Board of Directors (the “Board”) who is not also serving as an employee of Senseonics Holdings, Inc.  (the “Company”) or any of its subsidiaries (each such member, an “Eligible Director”) will receive the compensation described in this Non-Employee Director Compensation Policy. A Non-Employee Director may decline all or any portion of his or her compensation by giving notice to the Company prior to the date cash is to be paid or equity awards are to be granted, as the case may be.  This policy may be amended at any time in the sole discretion of the Board or the Compensation Committee of the Board.
		

		
			 
		

		
			Annual Cash Compensation
		

		
			 
		

		
			The annual cash compensation amount set forth below is payable in equal quarterly installments, payable in arrears on the last day of each fiscal quarter in which the service occurred. If an Eligible Director joins the Board or a committee of the Board at a time other than effective as of the first day of a fiscal quarter, each annual retainer set forth below will be pro-rated based on days served in the applicable fiscal year, with the pro-rated amount paid for the first fiscal quarter in which the Eligible Director provides the service, and regular full quarterly payments thereafter. All annual cash fees are vested upon payment. 
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			Annual Board Service Retainer:  

		
			a.All Eligible Directors: $35,000
		

		
			b.Chairman of the Board Service Retainer (in addition to Eligible Director Service Retainer): $20,000
		

		
			 
		

		
			2.Annual Committee Member Service Retainer:
		

		
			a.Member of the Audit Committee: $7,500
		

		
			b.Member of the Compensation Committee: $6,000
		

		
			c.Member of the Nominating and Corporate Governance Committee: $4,000
		

		
			 
		

		
			3.Annual Committee Chair Service Retainer (in addition to Committee Member Service Retainer):
		

		
			a.Chairman of the Audit Committee: $11,250
		

		
			b.Chairman of the Compensation Committee: $6,600
		

		
			c.Chairman of the Nominating and Corporate Governance Committee: $3,625
		

		
			 
		

		
			

		 

		

			1.

		

		

			 

		

 

		

		
			Election to Receive Common Stock in Lieu of Cash
		

		
			 
		

		
			An Eligible Director may make an election to receive all or a portion of his or her annual cash compensation described above in the form of shares of the Company’s common stock (the “Common Stock”). Elections must be made in multiples of 5% of an Eligible Director’s aggregate cash retainer.
		

		
			 
		

			
	
			
				 1.
			

			
	
			
			Timing of Elections:

		
			 
		

			
	
			
				 a.
			Current Eligible Directors:  Elections must be made prior to the beginning of each fiscal year with respect to cash compensation to be earned during such fiscal year.

		
			 
		

			
	
			
				 b.
			New Eligible Directors:  Elections for the first quarter of service must be made within 30 days of becoming an Eligible Director, provided that such election shall be applicable only to the portion of the cash retainers earned after the date of the election.

		
			 
		

			
	
			
				 c.
			New committee member or committee chair:  Elections for the first quarter of service must be made prior to the date that the Eligible Director becomes a committee member or committee chair (or, if a new Eligible Director, within 30 days of becoming a committee member or committee chair, provided that such election shall be applicable only to the portion of the cash retainer earned after the date of the election).

		
			 
		

			
	
			
				 2.
			

			
	
			
			Description of Common Stock:    The shares of Common Stock will be granted under the Company’s 2015 Equity Incentive Plan, as amended (the “Plan”).  The Common Stock will be granted as soon as reasonably practicable following the last day of each fiscal quarter in which the service occurred.  The actual number of shares of Common Stock granted will be determined based on the closing price of the Company’s Common Stock on the NYSE MKT on the date of grant.  

		
			
		

		
			

		 

		

			2.

		

		

			 

		

 

		

		
			Equity Compensation
		

		
			 
		

		
			The equity compensation set forth below will be granted under the Company’s Amended and Restated 2015 Equity Incentive Plan (the “Plan”), subject to the approval of the Plan by the Company’s stockholders. All stock options granted under this policy will be nonstatutory stock options, with an exercise price per share equal to 100% of the Fair Market Value (as defined in the Plan) of the underlying Common Stock on the date of grant, and a term of ten years from the date of grant (subject to earlier termination in connection with a termination of service as provided in the Plan).  
		

		
			 
		

		
			1.Initial Grant:  For each Eligible Director, on  the date of such Eligible Director’s initial election or appointment to the Board (or, if such date is not a market trading day, the first market trading day thereafter), the Eligible Director will be automatically, and without further action by the Board or Compensation Committee of the Board, granted a stock option to purchase shares of Common Stock with an aggregate Black Scholes option value of $212,500.  The shares subject to each such stock option will vest monthly over a three year period, subject to the Eligible Director’s Continuous Service (as defined in the Plan) through such vesting date.
		

		
			 
		

		
			2.Annual Grant: On the date of each annual stockholders meeting of the Company, each Eligible Director who continues to serve as a member of the Board following such stockholders meeting will be automatically, and without further action by the Board or Compensation Committee of the Board, granted a stock option to purchase shares of Common Stock with an aggregate Black Scholes option value of $106,500.  The shares subject to each such stock option will vest on the earlier of the one year anniversary of the grant date or the next annual stockholders meeting,  subject to the Eligible Director’s Continuous Service (as defined in the Plan) through such vesting date.
		

		 

		

			3.ttgt-ex1037_578.htm

Exhibit 10.37

2018 Executive Incentive Bonus Plan 

	
 
	
1.
	
Purpose

This 2018 Executive Incentive Bonus Plan (the “Plan”) is intended to provide an incentive for superior work and to motivate eligible executives of TechTarget, Inc. (the “Company”) 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 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 “Committee”) may select certain key executives (the “Covered Executives”) to be eligible to receive bonuses hereunder.

 

	
 
	
3.
	
Administration

The Committee shall have the sole discretion and authority to administer and interpret the Plan. The specific goals and targets under of the Plan for each performance period shall be determined by the Committee and, once approved, filed with the minutes of the Committee.

 

	
 
	
4.
	
Bonus Determinations 

 

(a) A Covered Executive may receive a bonus payment under the Plan based upon the attainment of performance targets which are established by the Committee and relate to financial and operational metrics with respect to the Company or any of its subsidiaries (the “Performance Goals”), including the following: earnings per share, revenues, EBITDA, Adjusted EBITDA (defined as EBITDA further adjusted for stock-based compensation expense), percentage of revenue under longer-term contract, or such other metrics as the Committee may determine. For 2018, payment of a bonus pursuant to the Plan will be based 1/3 on attainment of a Revenue, Adjusted EBITDA, and Percentage of Revenue under Longer-Term Contract (“Longer-Term Contracts Goal”) target, respectively, as defined and approved by the Committee.

 

(b) Except as otherwise set forth in this Section 4(b): (i) any bonuses paid to Covered Executives under the Plan shall be based upon objectively determinable bonus formulas that tie such bonuses to one or more performance targets relating to the Performance Goals, (ii) bonus formulas for Covered Executives shall be adopted in each performance period by the Committee and communicated to each Covered Executive at the beginning of each bonus period and (iii) no bonuses shall be paid to Covered Executives unless and until the Committee makes a determination with respect to the attainment of the performance objectives. Notwithstanding the foregoing, the Company may adjust bonuses payable under the Plan based on achievement of individual performance goals or pay bonuses (including, without limitation, 

 

discretionary bonuses) to Covered Executives under the Plan based upon such other terms and conditions as the Committee may in its discretion determine.

 

(c) Each Covered Executive shall have a targeted bonus opportunity for each performance period. The maximum bonus payable to a Covered Executive under the Plan shall be established by the Committee for the applicable performance period.

 

(d) 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 last day of the performance period; provided, however, that the Committee may make exceptions to this requirement, in its sole discretion, including, without limitation, in the case of a Covered Executive’s termination of employment, retirement, death or disability and as required under the terms of any applicable agreement with a Covered Executive.

(e) In order for the Covered Executives to earn a bonus with respect to the Revenue or Adjusted EBITDA targets, the minimum threshold of 90% of the Adjusted EBITDA and/or Revenue bonus target for the subject quarter must be achieved. If the applicable 90% threshold is achieved, the Covered Executives will earn 50% of the targeted bonus amount at 90% of the threshold with respect to each metric. The Covered Executives will earn an additional 5% of that metric’s allocation for their targeted bonus amount for each additional 1% of the Adjusted EBITDA and Revenue bonus target achieved over 90% until 100% of the Adjusted EBITDA and Revenue bonus target is achieved. In the event that Adjusted EBITDA for the full fiscal year 2018 is greater than 100% of the aggregate amount of the Covered Executive’s target bonus amount, then that portion of the bonus payable in excess of the targeted bonus amount will be payable in common stock of the Company.

(f) In order for the Covered Executives to earn a bonus with respect to the Longer-Term Contracts Goal, the Covered Executives must increase the Longer-Term Contracts Goal base (as determined by the Committee) by a minimum threshold of 1%. For each 1% increase from the Longer-Term Contracts Goal base, Covered Executives will earn 25% of that metric’s allocation for their targeted bonus amount until 100% of the Longer-Term Contracts Goal is achieved. In the event that the Longer-Term Contracts Goal is exceeded, as measured as of the fourth quarter of fiscal year 2018, then for each 1% above the Longer-Term Contracts Goal each Covered Executive will earn an additional 25% to their target bonus amount for the Longer-Term Contracts Goal. The portion of the bonus payable in excess of the targeted bonus amount will be payable in common stock of the Company.

 

	
 
	
5.
	
Timing of Payment

 

The Performance Goals will be measured at the end of each fiscal year after the Company’s financial reports have been published. If the Performance Goals are met, payments will be made within 60 days thereafter, but not later than March 15.

 

	
 
	
6.
	
Amendment and Termination 

 

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

2018 Executive Incentive Bonus Plan2

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