Document:

Exhibit 4.2

 

AMENDMENT NO. 1 TO THE

ADIAL PHARMACEUTICALS, INC.

2017
Equity Incentive Plan

 

This amendment (the
“Amendment”) to the Adial Pharmaceuticals, Inc. 2017 Equity Incentive Plan (the “Plan”),
is hereby adopted this 19th day of June, 2019, by the board of directors (the “Board”) of Adial Pharmaceuticals,
Inc. (the “Company”). All capitalized terms used in this Amendment and not otherwise defined herein shall have
the meanings set forth in the Plan.

 

WITNESSETH: 

 

WHEREAS, the
Company adopted the Plan for the purposes set forth therein; and

 

WHEREAS, pursuant
to Section 15 of the Plan, the board of directors has the right to amend the Plan with respect to certain matters, provided that
any material increase in the number of Shares available under the Plan shall be subject to stockholder approval; and

 

WHEREAS, the
board of directors has approved and authorized this Amendment to the Plan and has recommended that the stockholders of the Company
approve this Amendment;

 

NOW, THEREFORE, BE
IT RESOLVED, that the Plan is hereby amended, subject to and effective as of the date of stockholder approval hereof, in the
following particulars:

 

2. Section
4(a) of the Plan is hereby amended by increasing the share references in such section from 1,750,000 to 3,500,000, so that Section
4(a) reads in its entirety as follows:

 

“(a) Shares
Available for Awards. The maximum aggregate number of shares of Company Stock reserved for issuance under the Plan (all of
which may be granted as Incentive Stock Options) shall be Three Million Five Hundred Thousand (3,500,000) shares. Shares reserved
under the Plan may be authorized but unissued Company Stock or authorized and issued Company Stock held in the Company’s
treasury. The Compensation Committee may direct that any stock certificate evidencing shares issued pursuant to the Plan shall
bear a legend setting forth such restrictions on transferability as may apply to such shares pursuant to the Plan.”

 

2. Except as specifically
set forth herein, the terms of the Plan shall be and remain unchanged, and the Plan as amended shall remain in full force and effect.

 

The foregoing is hereby
acknowledged as being the Amendment to the Adial Pharmaceuticals, Inc. 2017 Equity Incentive Plan, as adopted by the board of directors
on June 19, 2019, and approved by the Company’s stockholders on August 16, 2019.

 

	 	ADIAL PHARMACEUTICALS, INC.
	 	 
	 	By:	/s/ William B. Stilley
	 	Name:	William B. Stilley
	 	Title:	Chairman, President and

                                                                          Chief Executive Officerexhibit101_directorcompp

                                                                               EXHIBIT 10.1                               ZOOM VIDEO COMMUNICATIONS, INC.                                                                        NON-EMPLOYEE DIRECTOR COMPENSATION POLICY    Each member of the Board of Directors (the “Board”) who is not also serving as an employee of or consultant  to  Zoom  Video  Communications,  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 (this “Policy”) for his or her Board service. This Policy is effective commencing as of May 1, 2019 (the  “Effective Date”) and may be amended at any time in the sole discretion of the Board or the Compensation  Committee of the Board.  An Eligible Director may decline all or any portion of his or her compensation by  giving notice to the Company prior to the date cash may be paid or equity awards are to be granted, as the case  may be.     Annual Cash Compensation    Each  Eligible  Director  will  be  eligible  to  receive  the  annual  cash  compensation  amounts  set  forth  below  effective upon (i) such Eligible Director’s first election or appointment to the Board, in the case of an Eligible  Director  not  serving  on  the  Board  on  the  Effective  Date;  (ii)  the  Effective  Date,  in  the  case  of  an  Eligible  Director  serving  on  the  Board  on  the  Effective  Date  who holds  an  unvested  Company  equity  award  on  the  Effective Date; or (iii) such Eligible Director’s first re-election to the Board after the Effective Date, in the case  of an Eligible Director serving on the Board on the Effective Date who does not hold an unvested Company  equity  award  on  the  Effective  Date (such  applicable  date  that  an  Eligible  Director  first  becomes  eligible  to  receive annual cash compensation under this Policy, the “Eligibility Date”).    If an Eligible Director’s Eligibility Date is other than the first day of a fiscal quarter of the Company, each  annual retainer set forth below will be pro-rated based on days served in the applicable fiscal year following the  Eligibility Date, with the pro-rated amount paid for the first fiscal quarter that includes the Eligibility Date and  regular full quarterly payments thereafter; provided, however, that if the Eligible Director leaves service prior to  the last day of a fiscal quarter, the fee for such fiscal quarter will be pro-rated. All annual cash fees are vested  upon payment and are payable to such Eligible Directors in equal quarterly installments in arrears on the last  day of each of the Company’s fiscal quarters in which the service occurred, beginning with service commencing  as of the Effective Date.     1.    Annual Board Service Retainer:         a.    All Eligible Directors: $30,000        b.    Chairman  of  the  Board  Service  Retainer  (in  addition  to  Eligible  Director  Service  Retainer):              $13,500        c.    Lead Independent Director (in addition to Eligible Director Service Retainer): $13,500          2.    Annual Committee Chair Service Retainer (in addition to Committee Member Service Retainer):        a.    Chairman of the Audit Committee: $10,000        b.    Chairman of the Compensation Committee: $7,000        c.    Chairman of the Nominating and Corporate Governance Committee: $3,500          3.    Annual Committee Member Service Retainer:        a.    Member of the Audit Committee: $10,000        b.    Member of the Compensation Committee: $7,000        c.    Member of the Nominating and Corporate Governance Committee: $3,500                                                      1    197442999 v19   

 

Equity Compensation    The equity compensation set forth below will be granted under the Company’s 2019 Equity Incentive Plan or  any  successor  plan (the “Plan”). All  equity  compensation  granted  under this Policy  will  be in  the  form  of  Restricted  Stock  Units (“RSUs”)  (as  defined  in  the  Plan). All  RSUs  granted  under  this Policy  will  vest in  installments as described below subject to the Eligible Director’s Continuous Services (as defined in the Plan)  through such vesting dates on the terms specified below; provided, however, that all RSUs granted under this  Policy will accelerate and vest in full upon (i) the Eligible Director’s death or Disability (as defined in the Plan)  or (ii) a Change in Control (as defined in the Plan), subject in each case to the Eligible Director’s Continuous  Service through such date.    1.    Initial  Grant: For  each  Eligible  Director  who  is  first  elected  or  appointed  to  the  Board  following  the  Effective Date, 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 “Initial Grant Date”), such Eligible  Director  will  be  automatically,  and  without  further  action  by  the  Board  or  Compensation  Committee  of  the  Board, granted RSUs (the “Initial Grant RSUs”).  The number of Initial Grant RSUs will be determined based  on the applicable scheduled length of the term of the Eligible Director’s initial election or appointment to the  Board (the “Initial Term”).  The Initial Grant RSUs will have an aggregate grant date fair value (as calculated  in accordance with ASC Topic 718) that is equal to $450,000 multiplied by the percentage obtained by dividing  the total number of expected calendar days in the Initial Term by the total number of calendar days following  the  date  of  Eligible  Director’s  initial  election  or  appointment  to  the  Board  through  and  including  the  third  anniversary of such election or appointment date.       The Initial Grant RSUs will vest in substantially equal quarterly installments measured from the Initial Grant  Date over the applicable expected Initial Term (each a “Vesting Date”), provided that, if the annual meeting of  the Company’s stockholders (the “Annual Meeting”) at which the scheduled Initial Term ends occurs prior to  the last scheduled quarterly Vesting Date for the Initial Grant RSUs, the Initial Grant RSUs shall become fully  vested as of the day immediately preceding such Annual Meeting.  Vesting of the Initial Grant RSUs is subject  in all cases to the Eligible Director’s Continuous Service (as defined in the Plan) through each such applicable  Vesting Date.    2.    Interim Grant.  For each Eligible Director serving on the Board who holds an unvested Company equity  award on the Effective Date, on the date immediately following the date that each Company equity award that  was outstanding on the Effective Date and held by such Eligible Director becomes fully vested with respect to  all shares subject to such equity award (the “Final Vesting Date”) (or, if such date immediately following the  Final Vesting Date is not a market trading day, the first market trading day thereafter), such Eligible Director  will  be  automatically,  and  without  further  action  by  the  Board  or  Compensation  Committee  of  the  Board,  granted RSUs (the “Interim Grant RSUs”) on such date (the “Interim Grant Date”).  The number of Interim  Grant RSUs will be determined based on the applicable scheduled remaining length of the term of the Eligible  Director’s  service  on  the  Board  following  the  Final  Vesting  Date  (the  “Interim  Term”).   The  Interim  Grant  RSUs will have an aggregate grant date fair value (as calculated in accordance with ASC Topic 718) that is  equal to $450,000 multiplied by the percentage obtained by dividing the total number of expected calendar days  in  the  Interim  Term  by  the  total  number  of  calendar  days  following  the  Final  Vesting  Date  through  and  including the third anniversary of the Final Vesting Date.      The Interim Grant RSUs will vest in substantially equal quarterly installments measured from the Interim Grant  Date over the applicable expected Interim Term (each a “Vesting Date”), provided that, if the Annual Meeting  at  which  the  scheduled  Interim Term  ends  occurs  prior  to  the  last  scheduled  quarterly  Vesting  Date  for  the  Interim Grant RSUs, the Interim Grant RSUs shall become fully vested as of the day immediately preceding                                               2    197442999 v19   

 

such  Annual  Meeting.   Vesting  of  the  Interim  Grant  RSUs  is  subject  in  all  cases  to  the  Eligible  Director’s  Continuous Service (as defined in the Plan) through each such applicable Vesting Date.    3.    Refresher Grants:  On  the  date  of  each Annual  Meeting held  after  the  Effective  Date,  each  Eligible  Director who: (i) is nominated to be re-elected to the Board to serve a three-year term at such Annual Meeting  (the  “Re-Elected  Term”),  (ii) continues  to  serve  as  a  non-employee  member  of  the  Board  following  such  Annual Meeting, and (iii) does not hold any outstanding Company equity award which remains unvested with  respect to any shares subject to such equity award as of the date of such Annual Meeting will be automatically,  and  without  further  action  by  the  Board  or  Compensation  Committee  of  the  Board,  granted RSUs (the  “Refresher Grant”) with an aggregate grant date fair value (as calculated in accordance with ASC Topic 718)  of $450,000.       The  shares  subject  to  each Refresher Grant  will  vest in substantially equal quarterly installments  over  the  applicable expected Re-Elected Term (each a “Vesting Date”), provided that, if the Annual Meeting at which  the scheduled Re-Elected Term ends occurs prior to the last scheduled quarterly Vesting Date for the Refresher  Grant, the Refresher Grant shall become fully vested as of the day immediately preceding such Annual Meeting.   Vesting of the Refresher Grant is subject in all cases to the Eligible Director’s Continuous Service (as defined in  the Plan) through each such applicable vesting date.                                                    3    197442999 v19

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