Document:

rcus-ex101_6.htm

EXHIBIT 10.1

 

ARCUS BIOSCIENCES, INC.

AMENDED COMPENSATION PROGRAM FOR NON-EMPLOYEE DIRECTORS

EFFECTIVE AS OF JUNE 4, 2020

 

	
A.
	
Cash Compensation: Annual cash retainers each paid quarterly, in arrears.

 

	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
1.    
	
  
	
Retainer for each non-employee member of the Board:
	
  
	
 
	
$40,000
	
 

	
 
	
 
	
 

	
2.
	
  
	
Additional retainer for Lead Independent Director:
	
  
	
 
	
$5,000
	
 

	
 
	
 
	
 

	
3.
	
  
	
Additional retainer for Chair of Audit Committee:
	
  
	
 
	
$20,000
	
 

	
 
	
 
	
 

	
4.
	
  
	
Additional retainer for Chair of Compensation Committee:
	
  
	
 
	
$12,000
	
 

	
 
	
 
	
 

	
5.
	
  
	
Additional retainer for Chair of Nominating and Corporate Governance Committee:
	
  
	
 
	
$10,000
	
 

	
 
	
 
	
 

	
6.
	
  
	
Additional retainer for non-Chair members of Audit Committee:
	
  
	
 
	
$10,000
	
 

	
 
	
 
	
 

	
7.
	
  
	
Additional retainer for non-Chair members of Compensation Committee:
	
  
	
 
	
$6,000
	
 

	
 
	
 
	
 

	
8.
	
  
	
Additional retainer for non-Chair member of Nominating and Corporate Governance Committee:
	
  
	
 
	
$5,000
	
 

 

	
B.
	
Equity Compensation

 

	
 
	
1.
	
Initial equity award. An initial option to purchase up to 21,000 shares of the Company’s common stock and an initial grant of 4,500 restricted stock units (RSUs) will be granted under the Company’s 2018 Equity Incentive Plan (the “Plan”) automatically without any further action on the part of the Board or the Compensation Committee on the date the person becomes a director of the Company.  The option shall have an exercise price equal to the Fair Market Value (as defined in the Plan) on the date of grant and shall vest and become exercisable in equal monthly installments over 36 months of continuous service provided by such member of the Board of Directors. The RSUs are subject to a three-year vesting schedule with one-third of the shares subject to the RSU vesting each year, subject to the director’s continuous service.  The equity awards will become fully vested and exercisable in the event that the Company is subject to a change in control.

 

	
 
	
2.
	
Annual equity award. An annual option to purchase up to 14,000 shares of the Company’s common stock and an annual grant of 3,000 RSUs will be granted under the Plan automatically without any further action on the part of the Board or the Compensation Committee on the date of the Company’s annual meeting of stockholders. The option shall have an exercise price equal to the Fair Market Value (as defined in the Plan). Subject to the director’s continuous service on the Board of Directors, the annual equity awards will vest and become exercisable in full on the earlier of (x) the date that is 12 months following the date of grant or (y) the date of the next annual stockholder meeting following the grant. The annual equity awards will become fully vested and exercisable in the event that the Company is subject to a change in control. The foregoing notwithstanding, a new director who has received an initial equity award will not in the same calendar year receive an annual equity award.

	
 
	
 
	
 

	
 
	
3.
	
“Change in Control” shall mean (i) a sale, conveyance or other disposition of all or substantially all of the assets, property or business of the Company, except where such sale, conveyance or other disposition is to a wholly owned subsidiary of the Company, (ii) a merger or consolidation of the Company with or into another corporation, entity or person, other than any such transaction in which the holders of voting capital stock of the Company outstanding immediately prior to the transaction continue to hold a majority of the voting capital stock of the Company (or the surviving or acquiring entity) outstanding immediately after the transaction (taking into account only stock of the Company held by such stockholders immediately prior to the transaction and stock issued on account of such stock in the transaction), or (iii) the direct or indirect acquisition (including by way of a tender or exchange offer) by any person, or persons acting as a group, of beneficial ownership or a right to acquire beneficial ownership of shares representing a majority of the voting power of the then outstanding shares of capital stock of the Company; provided, however, that a Change in Control shall not include any transaction or series of related transactions (1) principally for bona fide equity financing purposes or (2) effected exclusively for the purpose of changing the domicile of the Company. A series of related transactions shall be deemed to constitute a single transaction for purposes of determining whether a Change in Control has occurred. In addition, if a Change in Control constitutes a payment event with respect to any amount that is subject to U.S. Internal Revenue Code Section 409A, then the transaction must also constitute a “change in control event” as defined in Treasury Regulation Section 1.409A-3(i)(5) to the extent required by such U.S. Internal Revenue Code Section 409A.

 

	
C.
	
Expenses

The reasonable expenses incurred by directors in connection with attendance at Board or committee meetings will be reimbursed upon submission of appropriate substantiation.EX-4.4

 Exhibit 4.4 
  

											
		 	 NUMBER
	 	

	 		 	SHARES                	 	
	  
 PES 
	 		 		 		 	
		 		 	  

SEE REVERSE FOR CERTAIN DEFINITIONS AND LEGENDS

 

		 		 	INCORPORATED UNDER THE LAWS OF THE STATE OF DELAWARE	 	        	 	
CUSIP    723664    20    7
	 	                

 THIS CERTIFIES THAT 

IS THE OWNER OF 
 FULLY PAID AND NON-ASSESSABLE SHARES OF THE COMMON STOCK, PAR VALUE OF $0.001 PER SHARE, OF 
 PIONEER ENERGY
SERVICES CORP. 
 Transferable on the books of the Corporation, in person or by duly authorized attorney, upon surrender of this certificate property
endorsed. This certificate and the shares represented hereby are issued and shall be subject to the provisions of the laws of the State of Texas and to all of the provisions of the Articles of Incorporation and the Bylaws of the Corporation, as
amended from time to time (copies of which are on file at the office of the Corporation), to all of which the holder of this certificate by acceptance hereof assents. This certificate is not valid unless countersigned by the Transfer Agent and
registered by the Registrar. 
 IN WITNESS WHEREOF, the Corporation has caused the facsimile signatures of its duly authorized officers and its
facsimile seal to be affixed hereto. 
   DATED: 

 

									
		 	 

	 	COUNTERSIGNED AND REGISTERED:
		 		 	AMERICAN STOCK TRANSFER & TRUST COMPANY, LLC
		 		 	(Brooklyn, NY)
	 CHIEF EXECUTIVE OFFICER
  
	 		 	 TRANSFER AGENT

AND REGISTRAR

	 	
	 	BY	 		 	
	SECRETARY	 		 		 		 	AUTHORIZED SIGNATURE

 Pioneer Energy Services Corp. 

A full statement of the designations, preferences, limitations and relative rights of the shares of each class or series of stock of the Company to the extent
they have been fixed and determined and the authority of the Board of Directors to fix and determine the designations, preferences, limitations and relative rights of subsequent series of stock is set forth in the Articles of Incorporation of the
Company as amended, and/or in resolutions, if any, of the Board of Directors of the Company fixing and determining the designations, preferences, limitations and relative rights of series of stock, copies of which Articles of Incorporation and
resolutions, if any, are on file in the Office of the Secretary of State of the State of Texas. Under said Articles of Incorporation, no holder of any shares of the Company has any preemptive right to acquire unissued or treasury shares of the
Company. The Company will furnish a copy of said Articles of Incorporation and said Resolutions, if any, to the record holder of this certificate without charge upon written request of the Company at its principal place of business or registered
office. 
 The following abbreviations, when used in the inscription of the face of this certificate, shall be construed as though they were
written out in full according to applicable laws or regulations: 
  

									
	    TEN COM	  	–	  	as tenants in common	 	UNIF GIFT MIN ACT –	  	                                Custodian   
                             
		  		  		 		  	          [Cust]                           
             [Minor]
	    TEN ENT	  	–	  	as tenants by the entireties	 		  	
		  		  		 		  	under Uniform Gifts to Minors
	    JT TEN	  	–	  	 as joint tenants with right of

survivorship and not as tenants
 in common
	 		  	Act                                     
                                      
		  		 		  	 [State]            

 

		  		 	UNIF TRF MIN ACT –	  	                    Custodian (until age           
                  )
		  		  		 		  	    [Minor]
					
		  		  		 		  	to Minors Act                                  
                        
		  		  		 		  	[State]

  

			
	Additional abbreviations may also be used though not in the above list.
	  
 For value received,
                                         
                                         
                                       hereby sell,
assign and transfer unto

  

			
	PLEASE INSERT SOCIAL SECURITY OR	  	
	OTHER IDENTIFYING NUMBER OF ASSIGNEE	  	
	    	  	

  

	
	
                         
                                         
                                         
                                         
                                         
                                 

Please print or typewrite name and address, including postal zip code, of assignee

                       
                                         
                                         
                                         
                                         
                                   

 

                         
                                         
                                         
                                         
                                         
                                 

 

                          
                                         
                                         
                                         
                                         
                      Shares
 of the Common
Stock represented by the within certificate, and do hereby irrevocably constitute and appoint

                         
                                         
                                         
                                         
                                         
                                 

	Attorney to transfer the said stock on the books of the within-named Corporation with full power of substitution in the premises.
	
	Dated:                     

  

									
		 	NOTICE:	  				  	
		 	THE SIGNATURE TO THIS	  	 	X	 	  	                                     
                                         
                                      
		 	ASSIGNMENT MUST CORR-	  				  	                    (SIGNATURE)              
      
		 	ESPOND WITH THE NAMES	  				  	
		 	AS WRITTEN UPON THE	  	 	

  	 	  	
		 	FACE OF THE CERTIFICATE	  				  	
		 	IN EVERY PARTICULAR,	  	 	X	 	  	                                     
                                         
                                      
		 	WITHOUT ALTERATION OR	  				  	(SIGNATURE)
		 	ENLARGEMENT OR ANY	  				  	
		 	CHANGE WHATEVER	  				  	
		 		  				  	THE SIGNATURE(S) SHOULD BE GUARANTEED BY AN ELIGIBLE GUARANTOR
INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15.
				 
		 		  				  	 SIGNATURE(S) GUARANTEED BY:

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