Document:

Exhibit 10.1

 

THIS DOCUMENT VARIES FROM ORACLE
STANDARD

 

Data Match, Test, and Evaluation
Agreement

 

This Data Match, Test, and Evaluation Agreement
(“Agreement”) is made by and between Oracle America, Inc. (“Oracle”), and Peerlogix,
Inc. (“You”) (the “Parties”, each a “Party”). This Agreement is
effective as of May 1, 2018 (“Effective Date”).

 

The Parties agree:

 

		1.	Purpose. This Agreement governs the nature and scope of use of data and materials and the
associated obligations to permit Oracle to access and use Your Data or Your Materials, as described in Exhibit 1 (the “Purpose”)

 

The Purpose does not include
the use of exchanged data or materials as defined below for any production or commercial purposes, including without limitation
to market, target, or deliver advertisements to a consumer, computer, or other device or otherwise engage in any interest-based
advertising purposes

 

		2.	Definitions:

 

“Confidential
Information” or “CI” means: (a) Your Data, Your Materials, Oracle Data, and Oracle Materials; (b)
all information and materials that are expressly marked or identified (either orally or in writing) as confidential at the time
of disclosure; and (c) any Oracle pre-generally available products or technology or information related thereto.

 

“Identity Persistence
Mechanism” means cookie identifiers, statistical identifiers, mobile device identifiers, hashed identifiers, tags, pixels
or other identifiers.

 

“Oracle Data”
means third party data, consumer data collected by Oracle, and derivatives thereof, licensed or made available to You, by or on
behalf of Oracle pursuant to this Agreement. Oracle Data includes, but is not limited to, data analytics, segments, and audience
data.

 

“Oracle Materials”
means all Oracle-owned materials, software, technology, services, platform, Identity Persistence Mechanisms, and any work products,
and any enhancements to the foregoing, that Oracle makes available to You in connection with this Agreement.

 

“Personal
Data” means information defined as personally identifiable or personal information by the applicable Rules (as defined
below) of the jurisdiction in which the relevant individual resides.

 

“Your
Data” means any data provided to or received by Oracle from You or from a third party (including data collected from
websites) on behalf of You.

 

“Your Materials”
means program interface specifications, related documentation and other related materials including any updates, upgrades or error
corrections made available to Oracle by You under this Agreement. Your Materials do not include Your Data.

 

		3.	Limited License and Ownership.

 

		3.1	Oracle and its third party licensors retain all rights
and licenses, and own all right, title and interests not expressly granted in this Agreement.

 

		3.2	You grant Oracle a limited, non-exclusive, royalty-free,
license during the Term to access, copy, reproduce, and use Your Data and Your Materials solely for the Purpose.

 

		3.3	You retain all rights and licenses, and owns all right,
title and interests to Your Data and Your Materials not expressly granted in this Agreement.

 

 

 

 

    	 	1	 

     

    

THIS DOCUMENT VARIES FROM ORACLE
STANDARD

 

		4.	Nondisclosure.

 

		4.1	Protection of CI. Oracle and You will maintain the
confidentiality of CI exchanged under this Agreement for three (3) years following the date of disclosure. Your Data and Oracle
Data will remain confidential forever. The Parties agree to disclose to each other only such information that is necessary to
fulfill the Purpose. The Parties agree that unless required by law, neither Party will share the other Party’s CI with any
third party without authorization from the disclosing Party. Each Party agrees to protect CI by using the same degree of care,
but no less than a reasonable degree of care, to prevent unauthorized disclosure or publication of the CI, as the Party uses to
protect its own confidential information of a like nature.

 

		4.2	Disclosure to Employees and Contractors. The Parties
agree to limit access and use of the other Party’s CI only to those employees and contractors directly involved in fulfilling
the obligations under this Agreement. Each Party will cause employees and contractors to be bound by written confidentiality terms
sufficient to comply with the confidentiality obligations of this Agreement. If a Party’s contractor (or other third party
working on behalf of a Party) breaches any of the restrictions and limitations set forth in this Agreement, it constitutes a breach
by the Party.

 

		4.3	Exclusions. This Agreement imposes no obligation
upon either Party with respect to any information (including any part or version of the technology and data described in this
Agreement) that: (a) was in the possession of, or was known by, either Party prior to its receipt from the other Party, without
an obligation to maintain its confidentiality; (b) is or becomes generally known to the public without an obligation of confidentiality
or in violation of this Agreement; (c) is obtained from a third party, without an obligation of confidentiality;
(d) is independently developed by either Party; or (e) is disclosed with the other Party's prior written approval.

 

		5.	Data Protection.

 

		5.1	Data Security. Oracle and You will implement appropriate
administrative, technical and physical safeguards to protect the other Party’s data and materials provided under this Agreement
which shall include, at a minimum, industry standard measures designed to (a) protect the security, confidentiality and integrity
of Your Data and Your Materials and Oracle Data and Oracle Materials, respectively; and (b) protect Your Data and Your Materials
and Oracle Data and Oracle Materials, respectively, against accidental or unlawful destruction, loss, alteration, unauthorized
disclosure or access, and against all other unauthorized forms of processing.

 

		5.2	Notification. If a Party (“Receiving Party”)
has determined that any data or materials of the other Party (“Disclosing Party”) has been subject to unauthorized
access disclosure or use that compromises the security, confidentiality or integrity of the Disclosing Party’s data and
materials, the Receiving Party will notify the Disclosing Party within seventy-two (72) hours upon such determination. The Parties
shall cooperate with each other and take reasonable measures to limit the unauthorized disclosure or use.

 

		6.	Privacy and Information Security.

 

		6.1	Compliance with Rules. Oracle will comply with all
Rules directly applicable to Oracle in its role of providing the Oracle Data and Oracle Materials to You or Oracle’s use
of Your Data and Your Materials under this Agreement. You will comply with all Rules applicable to Your use of Oracle Data and
Oracle Materials and the collection, use or provision to Oracle of Your Data and Your Materials. You and Oracle agree to negotiate
in good faith with each other to make any amendments to this Agreement as are reasonably necessary to comply with the Rules. In
the event of any change in the Rules or in the regulatory or self-regulatory environment in any applicable jurisdiction, Oracle
may, in its discretion, restrict Your use of or access to the Oracle Data or Oracle Materials in such jurisdiction, without liability
to You or any third party.

 

As used herein, “Rules”
means all applicable privacy, electronic communications and data protection laws, rules, regulations, and regulatory guidelines,
as well as any applicable self-regulatory guidelines, including, without limitation, each of the Self-Regulatory Principles of
the Digital Advertising Alliance (“DAA”) (currently available at http://www.aboutads.info/principles), the Code
of Conduct of the Network Advertising Initiative (“NAI”) (currently available at http://www.networkadvertising.org/code-enforcement/code)
and the NAI Mobile Application Code (currently available at http://www.networkadvertising.org/mobile/NAI_Mobile_Application_Code.pdf),
the Direct Marketing Association's Guidelines for Ethical Business Practices ("DMA") (currently available at http://thedma.org/accountability/ethics-and-compliance/dma-ethical-guidelines/),
and the Principles of the European Interactive Digital Advertising Alliance (“EDAA”) (currently available at http://www.edaa.eu/european-principles/),
as each set of the foregoing may be amended from time to time.

 

 

 

    	 	2	 

     

    

THIS DOCUMENT VARIES FROM ORACLE
STANDARD

 

		6.2	Privacy Disclosures and
Consent. Oracle will post and maintain a privacy policy that discloses its practices with respect to the collection and use
of information in connection with interest-based advertising and ad delivery and reporting. Oracle requires that all third parties
who provide Oracle Data provide notices to and obtain consents from individuals as necessary for the provision of that data to
Oracle. Oracle will, as required by the Rules or otherwise at its discretion (but without having an obligation to collect additional
information to identify an individual for the sole purpose of complying with this provision), provide an individual with access
to, or the ability to correct, modify or delete, any information about or connected to an individual, computer or device (including
segments or source information).

 

You will ensure that any
notices and consents required by the Rules for the provision of Your Data to Oracle to fulfill the Purpose have been provided
and obtained, including without limitation any required opt-in consents for sensitive personal data or geo-location data. You
will have an easily accessible privacy policy that contains the word "Privacy" (or equivalent terminology in the
applicable jurisdiction) and which will be linked to conspicuously from the applicable home page and other relevant pages of
the applicable websites or within the applicable applications. The privacy policy must comply with the requirements of the
Rules for notices to or consents from individuals whose data is provided to Oracle and third Parties for use as contemplated
in this Agreement. The privacy policy must enable individuals to opt out of the use of their data by You and: (1) for U.S.
properties, include a link to the DAA opt-out program (currently available at http://www.aboutads.info/choices/) or the NAI
opt out program (currently available at http://www.networkadvertising.org/choices/); (2) for EU/EEA properties, insert a link
to the EDAA opt-out program (currently available at http://www.youronlinechoices.eu/); or (3) in any other global region,
provide a link to the Oracle Marketing Cloud & Oracle Data Cloud Privacy Policy referenced above. If You collect
information from, deliver advertising to, or otherwise interact with mobile devices, Your privacy policy must also provide
the disclosures and notices and obtain the consents required by the Rules for mobile devices, and include a link to the
AppChoices program for opting-out (currently available at http://www.aboutads.info/appchoices).

 

		6.3	Adherence to Privacy Standards.
You will not (i) use Oracle Data or Oracle Materials for the purposes of making decisions about an individual's eligibility for
employment, health care, credit or insurance, or for making decisions solely by automatic means where the decision has a significant
effect on the individual, or in any way that does or can be used to discriminate against any person or promote bigotry, racism
or harm, (ii) provide to Oracle any data that falls under any of the sensitive data definitions contained in the DAA Principles
or the NAI Code of Conduct, as they may be revised from time to time; or (iii) provide to Oracle any data collected from sites
directed to children under the age of 13 or from individuals whose age You know to be under 13. Oracle may at its sole discretion
decline to receive or remove specific data, categories or interest segments.

 

		6.4	Personal Data. You
will not derive, or attempt to derive, either directly or indirectly, the identity of an individual from any Oracle Data, and
will promptly notify Oracle if You discover that You have done so. You will provide individuals whose Personal Data You are processing
for Your own use with the rights to receive a copy of their Personal Data, to amend, modify, or delete their Personal Data, and/or
to otherwise exercise their rights under the Rules with regard to their Personal Data, including the right to opt-out. If any
individual requests to exercise such a right with respect to Personal Data transferred to Oracle, You will notify Oracle and provide
detailed instructions to Oracle regarding the actions necessary to comply with such request, or at Oracle’s election provide
a new version of the applicable data set that conforms to the individual’s request.

 

		6.5	Transfers of Personal
Data. To the extent that the provision of the services described in Exhibit 1 involves any transfers of Personal Data (i)
subject to data transfer restrictions or requirements under Directive 95/46/EC or any successor legislation; (ii) to countries,
jurisdictions or recipients outside the EEA or Switzerland not recognized by the European Commission as ensuring an adequate level
of protection pursuant to Directive 95/46/EC or any successor legislation; and (iii) not otherwise subject to an approved transfer
mechanism that provides an adequate level of protection pursuant to Directive 95/46/EC or any successor legislation, such transfers
between You and Oracle are made subject to the terms of the EU Standard Contractual Clauses for Controllers (“Clauses”),
as entered into between Oracle (acting in its own name and in the name and on behalf of the Oracle affiliates) and You (acting
in Your own name and in the name and on behalf of Your affiliates). You and Oracle agree that incorporation of the Clauses into
this Agreement shall act as a legally-binding execution of the Clauses.

 

 

 

 

    	 	3	 

     

    

THIS DOCUMENT VARIES FROM ORACLE
STANDARD

 

		7.	Term. This Agreement will commence on the
Effective Date and shall terminate one hundred eighty (180) calendar days after the Effective Date (the “Term”).
During the Term of this Agreement, either Party may terminate this Agreement for any reason upon five (5) business days written
notice. Upon the effective date of termination or expiration of the Term, the Parties agree to promptly cease use of other Party’s
Confidential Information and, upon receipt of written request by the other Party, delete or otherwise render inaccessible all
copies of such Confidential Information within its possession or control (except as may be necessary by reason of legal, archival,
external accounting standards or regulatory requirements).

 

		8.	Termination for Cause. This Agreement and associated
license may be terminated by a Party, upon five (5) days written notice, in the event a Party has determined that the other Party
has used or disclosed Confidential Information contrary to the terms of this Agreement.

  

		9.	Fees. During the Term of this Agreement, the use
of data and materials as described in the Purpose is free of charge. Any use outside the scope described in the Purpose must be
ordered under a separate agreement.

 

		10.	Warranty.

 

		10.1	Your Data Warranties. With respect to Your Data,
You represent and warrant: (a) You have full and sufficient right, title, and authority to assign or grant the rights or licenses
granted to Oracle under this Agreement; (b) You have provided all necessary notices and obtained all necessary consents which
are required to assign or grant the rights or licenses under this Agreement; and (c) Your Data does not infringe any data, privacy,
publicity or similar rights of any third party, nor has any claim (whether or not embodied in an action, past or present) of such
infringement been threatened or asserted, and no such claim is pending against You or, to the best of Your knowledge, against
any entity from which You have obtained such rights.

 

		10.2	Your Materials Warranties. With respect to Your
Materials, You represent and warrant: (a) You are the sole and exclusive owner of Your Materials; (b) Your Materials do not contain
any open source software or any other materials owned by or licensed from a third party; (c) You have full and sufficient right,
title and authority to assign or grant the rights and/or licenses granted to Oracle under this Agreement; and (d) Your Materials
do not infringe any intellectual property rights, privacy, publicity or similar rights of any third party, nor has any claim (whether
or not embodied in an action, past or present) of such infringement been threatened or asserted, and no such claim is pending
against You or, to the best of Your knowledge, against any entity from which You have obtained such rights.

 

		11.	Indemnification. You shall, at Your expense, indemnify, defend and hold Oracle and its directors,
officers, employees and agents harmless from and against any and all liabilities, losses, damages, costs and expenses (including
reasonable attorneys fees) incurred by Oracle in connection with any claim that: (1) Your Data violates any data ownership or other
rights of any third party (including rights related to the Rules), (2) Your Materials infringes the intellectual property rights
of a third party, or (3) results from Your misuse or unauthorized disclosure of Oracle Data or Oracle Materials, provided that:
(a) Oracle promptly notifies You in writing of the claim; and (b) at Your request and expense, Oracle provides You with reasonable
assistance, information and authority to perform the foregoing. You will not enter into a settlement agreement without Oracle's
written consent, which consent will not be unreasonably withheld.

 

		12.	Limitation of Liability. IN NO EVENT SHALL EITHER
PARTY BE LIABLE TO THE OTHER PARTY FOR ANY SPECIAL, INDIRECT, RELIANCE, INCIDENTAL OR CONSEQUENTIAL DAMAGES OF ANY KIND, LOST
OR DAMAGED DATA, LOST PROFITS OR LOST REVENUE, WHETHER ARISING IN CONTRACT, TORT (INCLUDING NEGLIGENCE), OR OTHERWISE, EVEN IF
SUCH PARTY HAS BEEN NOTIFIED OF THE POSSIBILITY THEREOF. UNDER NO CIRCUMSTANCES WILL ORACLE’S LIABILITY FOR ALL CLAIMS ARISING
UNDER OR RELATING TO THIS AGREEMENT (INCLUDING BUT NOT LIMITED TO WARRANTY CLAIMS), REGARDLESS OF THE FORUM AND REGARDLESS OF
WHETHER ANY ACTION OR CLAIM IS BASED ON CONTRACT, TORT, OR OTHERWISE, EXCEED TEN THOUSAND DOLLARS ($10,000).

 

		13.	General Terms. Neither Party has an obligation under this Agreement
to sell or purchase any item from the other Party. Nothing in this Agreement will be construed to preclude either Party from developing,
using, marketing, licensing, and/or selling any independently developed software, hardware, products, data, or services which have
the same or similar functionality as the technology, data, or any other products. In addition, this Agreement is not intended to
prevent either Party from using ideas, concepts, know-how or techniques related to the technology or data that are retained in
the unaided memories of the Party's employees or contractors who have had access to the technology and data. An employee's or contractor's
memory will be considered to be unaided if the employee or contractor has not intentionally memorized the technology or data for
the purpose of retaining and subsequently using or disclosing it. The Parties are independent contractors.

 

 

 

 

    	 	4	 

     

    

THIS DOCUMENT VARIES FROM ORACLE
STANDARD

 

		14.	Supplier Terms. You will comply at all times with the then current
version of the Oracle Supplier Information and Physical Security Standards (“Supplier Security Standards”), which are
available at http://www.oracle.com/corporate/supplier/index.html. In the event of a conflict between this Agreement and the Supplier
Security Standards, the terms of the latter shall take precedence. You are solely responsible for payment of all royalties and
other charges with respect to third party materials included in Your Data or Your Materials, if any. Oracle shall have no obligation
to pay or account for such royalties or other charges.

 

		15.	Other. This Agreement constitutes the Parties' entire agreement and
supersedes all prior or contemporaneous oral or written communications, proposals, agreements and representations between them
related to the subject matter contained herein. This Agreement may be changed only if agreed to in writing and signed by an authorized
signatory of each Party. Each Party to this Agreement agrees to comply fully with all relevant export laws and regulations, including
the U.S. Export Administration Act and Regulations, to assure that no technology or data, or any portion thereof, described under
this Agreement is exported, directly or indirectly, in violation of law. If any part of this Agreement is found to be unenforceable,
the remainder shall continue in effect, to the extent permissible by law. This Agreement is governed by the substantive and procedural
laws of California and the Parties agree to submit to the exclusive jurisdiction of, and venue in, the courts in San Francisco
or Santa Clara counties in California.. Choice of law rules of any jurisdiction and the United Nations Convention on Contracts
for the International Sale of Goods will not apply to any dispute arising out of or related to this Agreement.

 

The Parties by their authorized representatives have
entered into this Agreement as of the Effective Date.

 

	Peerlogix, Inc.	 	Oracle America, Inc.
	 	 	 
	Signature: /s/ William Gorfein                    	 	Signature: /s/ John Machusic                  
	 	 	 
	Name: William Gorfein	 	Name: John Machusic
	 	 	 
	Title: Director	 	Title: GVP
	 	 	 
	Date: 4/28/2018	 	Date: May 1, 2018
	 	 	 

 

 

 

 

 

 

    	 	5	 

     

    

 

Exhibit 1

 

Purpose

 

Oracle may access and use Your Data and Your Materials
for the purpose of testing, analyzing, and evaluating their use with Oracle systems, services and product offerings.

 

You may provide Oracle with Your Data and Your Materials in
either an online or offline manner or by allowing Oracle to remotely access and transfer Your Data and Your Materials.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	6ex_113390.htm

Exhibit 10.1

 

Amended and Restated Non-Employee Director Compensation Policy

 

The purpose of this Amended and Restated Non-Employee Director Compensation Policy (the “Policy”) of Primo Water Corporation, a Delaware corporation (the “Company”), is to provide a total compensation package to the non-employee members of the Board of Directors of the Company (the “Board”) that enables the Company to attract and retain, on a long-term basis, highly qualified directors who are not employees or officers of the Company or its subsidiaries. In furtherance of this purpose, all non-employee directors of the Company shall be paid compensation for services provided to the Company as set forth below:

 

A.            Initial Compensation

 

Upon his or her initial election or appointment to the Board, each new non-employee director shall be granted restricted stock units (“RSUs”) having a value equal to 150% of the Total Annual Retainer (as defined below) in effect at the time of such director’s election or appointment, with the number of RSUs to be issued being determined based on the closing sale price of the Company’s common stock on the date of grant. Such RSUs shall vest in three equal annual installments beginning on the first anniversary of the date of grant. If a director ceases to serve as a director before all such RSUs are fully vested due to death, or if there is a Change of Control (as defined in the Amended and Restated Primo Water Corporation 2010 Omnibus Long-Term Incentive Plan (the “Omnibus Plan”)) prior to such vesting, then such RSUs shall become fully vested as of the date of such death or Change of Control, as applicable. If the director ceases to serve on the Board for any reason other than death, any RSUs granted under this Paragraph A that are not then vested shall be forfeited as of the date of such cessation of services.

 

B.            Annual Compensation

 

	 	
			1.

				
			Annual Cash Compensation. Each non-employee director shall be paid annual cash compensation as follows:

			

 

	 	
			(a)

				
			Annual Cash Retainer for each Non-Employee Director (the “Annual Cash Retainer”): 25% of the Total Annual Retainer then in effect (which, for purposes of the compensation payable in respect of the period between the Annual Meetings of the Stockholders, beginning with the first Annual Meeting of the Stockholders after the Effective Date, shall equal $25,000).

			

 

	 	
			(b)

				
			Cash Compensation Payable for each Committee Chairperson (the “Committee Chair Compensation”):

			

 

●          Audit Committee: $15,000

●          Compensation Committee: $10,000

●          Each Other Standing Committee: $5,000

 

 

 

 

The Board will use commercially reasonable efforts to evaluate the Committee Chair Compensation payable under this Policy every three to five years following adoption of this Policy.

 

	 	
			(c)

				
			Cash Compensation Payable for each Committee Member (other than the Committee Chair) (the “Committee Membership Compensation” and, together with the Annual Cash Retainer and Committee Chair Compensation, the “Cash Compensation”):

			

 

●          Audit Committee: $7,500

●          Compensation Committee: $5,000

●          Each Other Standing Committee: $2,500

 

All Committee Membership Compensation shall be conditioned upon attendance by such director at 75% or more of the applicable Committee’s meetings in respect of the year for which such compensation is being paid.

 

The Board will use commercially reasonable efforts to evaluate the Committee Membership Compensation payable under this Policy every three to five years following adoption of this Policy.

 

	 	
			(d)

				
			Payment of Cash Compensation: If a director elects Option 1 (as defined in Section C below), such director shall receive a one-time payment of the Cash Compensation earned that year in cash within 30 days of the date of the Annual Meeting of Stockholders immediately following the year in which such Cash Compensation was earned. If a director elects Option 2 (as defined in Section C below), such director shall receive a one-time grant of RSUs with a value equal to the amount of such Cash Compensation, with the number of RSUs to be issued being determined based on the closing price of the Company’s common stock on the date of the Annual Meeting of Stockholders that preceded the grant date of such RSUs.

			

 

	 	
			2.

				
			Annual Equity Compensation. Each non-employee director shall be granted a number of RSUs having a value equal to 75% of the Total Annual Retainer (which for purposes of the compensation payable in respect of the period between the Annual Meetings of the Stockholders beginning with the first Annual Meeting of the Stockholders after the Effective Date, shall equal $75,000), with the number of RSUs to be issued being determined based on the closing price of the Company’s common stock on the date of the Annual Meeting of Stockholders that preceded the grant date of such RSUs (the “Annual Equity Retainer” and, together with the Annual Cash Retainer, the “Total Annual Retainer”).

			

 

- 2 -

 

 

C.           Cash vs. Equity Elections

 

Each director, no later than two business days prior to the Annual Meeting of Stockholders (or, if appointed otherwise than at an Annual Meeting of Stockholders, within 30 days of such appointment), shall elect in writing (email shall be sufficient for this purpose) for his or her Cash Compensation for the period between the date of such Annual Meeting of Stockholders and the date of the next following Annual Meeting of Stockholders to be paid either: (1) 100% in cash (“Option 1”) or (2) 100% in equity (“Option 2”). Such election shall be irrevocable and shall remain in place until the next Annual Meeting of Stockholders. If a director fails to make a timely election, the director will be deemed to have elected Option 2 and will be paid 100% in equity for the year in question.

 

In the event of a Change of Control (as defined in the Omnibus Plan), any unpaid board Cash Compensation that has accrued through the date of consummation of the Change of Control shall be paid in cash on the date of such consummation.

 

If a non-employee director elects Option 1, such director shall receive a lump sum cash payment, based on the aggregate fees payable in cash under this Policy, within 14 days of the Annual Meeting of Stockholders immediately following the year for which such compensation is payable.

 

If a non-employee director elects Option 2, such director shall be granted RSUs in a single grant, based on the aggregate fees payable for Board and Committee meetings attended during the year, on the date of the next following Annual Meeting of Stockholders, with the number of RSUs to be issued being determined based on the closing price of the Company’s common stock on the date of the immediately preceding Annual Meeting of Stockholders, and such RSUs shall vest in full immediately upon grant.

 

If a non-employee director who elected Option 2 resigns before the next Annual Meeting of Stockholders at which such director would have received Cash Compensation under this Policy, such non-employee director shall be granted fully vested RSUs, based on the aggregate fees payable for Board and Committee meetings attended prior to the date of resignation, on the third business day following the date of such resignation, with the number of RSUs to be issued being determined based on the closing price of the Company’s common stock on the date of the Annual Meeting of Stockholders immediately preceding such resignation.

 

D.           Partial-Year Compensation

 

If a non-employee director is appointed to the Board other than on the date of an Annual Meeting of Stockholders, such director’s Total Annual Retainer shall be prorated by multiplying (i) the Total Annual Retainer then in effect at such director’s appointment by (ii) a fraction, (a) the numerator of which shall equal (1) 365 minus (2) the number of calendar days since the immediately preceding Annual Meeting of Stockholders and (b) the denominator of which shall be 365. The number of RSUs to be issued pursuant to this paragraph shall be determined based on the closing price of the Company’s common stock on the date of such director’s appointment and shall vest on the date of the next Annual Meeting of Stockholders.

 

- 3 -

 

 

E.            Additional Terms

 

The Board encourages all non-employee directors appointed or elected to the Board following adoption of this Policy, within two years of each such director’s appointment, to acquire at least $50,000 in shares of the Company’s common stock, whether by application of the first $50,000 earned by such director under the Annual Cash Retainer or otherwise, to further align the interests of such director and the Company’s stockholders.

 

All equity awards under this Policy shall be made under and pursuant to the Omnibus Plan. Each non-employee director may not sell, transfer or otherwise dispose of any RSUs awarded under this policy until they become vested.

 

The compensation described in this Policy is in addition to the reimbursement by the Company of all out-of-pocket expenses incurred by the non-employee directors in attendance of Board and Committee meetings.

 

This Amended and Restated Non-Employee Director Compensation Policy amends, restates and supersedes in all respects the Non-Employee Director Compensation Policy originally effective as of May 2, 2014.

 

 

 

Effective Date: May 3, 2018

 

- 4 -

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00283-of-00352.parquet"}]]