Document:

Exhibit 10.1

 

Energous Corporation

 

Non-Employee Director
Compensation Policy

 

Members of the Board of Directors (the “Board”)
of Energous Corporation (the “Company”) who are not employees of the Company or any subsidiary of the Company
(“Directors”) shall be paid the following amounts in consideration for their services on the Board.

 

Initial Compensation

 

Upon his or her initial election to the Board (the “Appointment
Date”), each new Director shall receive restricted stock units (“RSUs”) having a value equal to $225,000
divided by the Fair Market Value of the Common Stock (as defined below) on the Appointment Date. Such RSUs shall vest annually
vest in three equal annual installments beginning on the one-year anniversary of the Appointment Date (each such anniversary an
“Initial Award Vesting Date”). If a Director ceases to serve as a Director before an Initial Award Vesting Date
due to the Director’s death, or if there is a Change in Control prior to an Initial Award Vesting Date, then the RSUs shall
become fully vested as of the date of such death or Change in Control, as applicable. If a Director ceases to serve as a Director
at any time for any reason other than death before the earlier of an Initial Award Vesting Date or a Change in Control, then any
remaining unvested portion of such initial equity grant shall be forfeited as of the date of such cessation of services.

 

A Director may elect to receive all or any portion of the RSUs
payable upon his or her initial election to the Board in the form of deferred stock units (“DSUs”). DSUs are
bookkeeping entries representing the equivalent of shares of the Company’s common stock “Common Stock”)
and are paid in shares of Common Stock on the effective date of the Director’s cessation of services to the Board. To be
effective, notice of such election must be delivered to the Company’s Chief Financial Officer in writing or electronically
on a form acceptable to the Company prior to the Appointment Date. If a Director elects to receive DSUs in lieu of RSUs granted
upon his or her initial election to the Board, such Director shall be granted a number of DSUs equal to the number of RSUs pursuant
to which such election has been made. Any DSUs awarded to a Director pursuant to this paragraph shall have the same vesting terms
and conditions as RSUs described in the immediately preceding paragraph as if such Director had elected to receive RSUs pursuant
to the immediately preceding paragraph.

 

Annual Compensation

 

Cash Compensation

 

Each Director shall be paid an annual cash retainer of $50,000
prorated for partial years of service and paid quarterly in arrears. The Chairman of the Board, Lead Independent Director and committee
members shall be paid the following additional annual cash retainer amounts paid quarterly in arrears:

 

     

     

    

 

	Chairman of the Board:	$50,000
	Lead Independent Director:  	$25,000
	Audit Committee Chair:  	$20,000
	Audit Committee Member:	$10,000
	Compensation Committee Chair:  	$15,000
	Compensation Committee Member:  	$5,000
	Corporate Governance and Nominating Committee Chair:  	$10,000
	Corporate Governance and Nominating Committee Member:  	$5,000

A Director may elect to receive all or any portion of the cash consideration otherwise payable in respect of a particular calendar
year in the form of DSUs. To be effective, notice of such election must be delivered to the Company’s Chief Financial Officer
in writing or electronically on a form acceptable to the Company prior to the commencement of the subject year. If a Director elects
to receive DSUs in lieu of cash for a particular calendar year, such Director shall, on the first trading day following December
31 of the preceding year (the “DSU Grant Date”), be granted a number of DSUs equal to the cash amount of such
election divided by the Fair Market Value of the Common Stock on the DSU Grant Date. The DSUs shall not become vested until the
first anniversary of the DSU Grant Date (the “DSU Vesting Date”). If a Director ceases to serve as a Director
before the DSU Vesting Date due to the Director’s death, or if there is a Change in Control prior to the DSU Vesting Date,
then the DSUs shall become fully vested as of the date of such death or Change in Control, as applicable. If a Director ceases
to serve as a Director at any time for any reason other than death before the earlier of the DSU Vesting Date or a Change in Control,
then the DSUs shall become vested pro rata (based on the number of days between the DSU Grant Date and the date of cessation of
services divided by 365), and to the extent the DSUs are not thereby vested they shall be forfeited as of the date of such cessation
of services.

 

Equity Compensation

 

On the first trading day following December 31 of each year
(each, an “RSU Grant Date”), each Director will also be awarded a number of RSUs equal to $75,000 divided by
the Fair Market Value of the Common Stock on the RSU Grant Date; provided, however, a Director may elect to receive all or any
portion of such compensation in the form of DSUs. To be effective, notice of such election must be delivered to the Company’s
Chief Financial Officer in writing or electronically on a form acceptable to the Company prior to the commencement of the subject
year. In addition, the Chairman of the Board, if independent, shall be awarded an additional 25,000 RSUs on the RSU Grant Date.
All Director RSUs under this Policy shall be made under and pursuant to the Plan (as defined below). The RSUs shall not become
vested until the first anniversary of the RSU Grant Date (the “Annual Award Vesting Date”). If a Director ceases
to serve as a Director before the Annual Award Vesting Date due to the Director’s death, or if there is a Change in Control
prior to the Annual Award Vesting Date, then the RSUs shall become fully vested as of the date of such death or Change in Control,
as applicable. If a Director ceases to serve as a Director at any time for any reason other than death before the earlier of the
Annual Award Vesting Date or a Change in Control, then the annual equity grant shall become vested pro rata (based on the number
of days between the RSU Grant Date and the date of cessation of services divided by 365), and to the extent the RSUs are not thereby
vested they shall be forfeited as of the date of such cessation of services.

 

    	 	2	 

     

    

 

Equity Award Terms

 

Capitalized terms used herein and not otherwise defined shall
have the meanings given to them in the Company’s 2014 Non-Employee Equity Compensation Plan (the “Plan”).
Any DSUs issued in accordance with the terms of this Policy shall be made under and pursuant to the Plan. The Board, in its sole
discretion and in recognition for meritorious service, may elect to vest up to 100% of a Director’s unvested equity awards
upon retirement.

 

Expense Reimbursement

 

The compensation described in this Policy is in addition to
reimbursement of all out-of-pocket expenses incurred by Directors in attending meetings of the Board.

 

Employee Directors

 

An employee of the Company who serves as a director on the Board
or on the board of directors of a Company subsidiary receives no additional compensation for such service.

 

Section 409A

 

This Policy is intended to comply with Code Section 409A to
the extent subject thereto, and, accordingly, to the maximum extent permitted, the Policy shall be interpreted and administered
to be in compliance therewith. Any payments described in this Policy that are due within the “short-term deferral period”
as defined in Code Section 409A shall not be treated as deferred compensation unless applicable laws require otherwise.

 

Adopted Effective June 10, 2016

 

    	 	3Exhibit

AMENDMENT NO. 1 TO THE TRANSITION SERVICES AGREEMENT
THIS AMENDMENT NO. 1 TO THE TRANSITION SERVICES AGREEMENT (this “Amendment”), dated as of May 1, 2016, amends that certain Transition Services Agreement (the “Services Agreement”), dated March 14, 2016, by and between Greatbatch, Inc. (“Greatbatch”) and Nuvectra Corporation (f/k/a QiG Group, LLC) (“Nuvectra”).
WHEREAS, Greatbatch and Nuvectra wish to amend the Services Agreement in order to add the preparation and delivery of certain Time & Expense Reports as “Additional Transition Services” under the Services Agreement.
NOW, THEREFORE, for good and lawful consideration, the sufficiency of which is hereby acknowledged and agreed, the parties hereto (individually, a “Party”; collectively, the “Parties”) hereby agree as follows:
1.Definitions.  Capitalized terms used and not otherwise defined herein shall have the meanings assigned to them in the Services Agreement.

2.Amendment to Schedule A.  Schedule A of the Services Agreement is hereby amended by adding the following section immediately after the “Billing Fees” section in Schedule A:

“Time & Expense Reports:

During the period commencing on May 1, 2016 and ending on December 31, 2016, GB will prepare and deliver to Nuvectra the following reports on a monthly basis with respect to time and expense reports submitted by Nuvectra employees (the “T&E Reports”):

		
	•
	A report on all expenses submitted by Nuvectra field sales representatives, Paul Hanchin, Tom Hickman, Alan Mock, Jennifer Armstrong and Scott Drees;

		
	•
	A report listing all business meals over $75 that involves only one attendee, such report to include the actual report and receipts submitted by the applicable Nuvectra employee;

		
	•
	A report listing all business meals over $300 regardless of the number of attendees, such report to include the actual report and receipts submitted by the applicable Nuvectra employee; and

		
	•
	A report listing all expense reports submitted in a month where the aggregate amount of expenses for the applicable Nuvectra employee is more than $2,000.

1

In addition to the fees set forth in this Schedule A, Nuvectra will be charged $150 per hour for GB’s preparation and delivery of the T&E Reports.”

3.Miscellaneous.

(a)Except as provided herein, all terms and conditions of the Services Agreement shall remain in full force and effect.

(b)This Amendment may be executed in counterparts, all of which together shall constitute one agreement binding on all of the Parties, notwithstanding that all of the Parties are not signatories to the original or the same counterpart.

(c)This Amendment expresses the entire understanding of the Parties with respect to the matters set forth herein and supersedes all prior discussions or negotiations hereon.

(d)This Amendment, and all claims arising in whole or in part out of, related to, based upon, or in connection herewith or the subject matter hereof will be governed by and construed and enforced in accordance with the substantive laws of the State of Delaware, without giving effect to any choice or conflict of law provision or rule that would cause the application of the laws of any other jurisdiction.

[Remainder of page left intentionally blank.]

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IN WITNESS WHEREOF, the Parties have executed this Amendment as of the date first set forth above.

	
					
	 
	 
	GREATBATCH, INC.
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Thomas J. Mazza
	 

	 
	 
	Name:
	Thomas J. Mazza
	 

	 
	 
	Title:
	Vice President & Corporate Controller
	 

	
					
	 
	 
	NUVECTRA CORPORATION
	 

	 
	 
	 
	 
	 

	 
	 
	By:
	/s/ Walter Berger
	 

	 
	 
	Name:
	Walter Berger
	 

	 
	 
	Title:
	Chief Financial Officer
	 

[Amendment No. 1 to the Transition Services Agreement]

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