Document:

EX-10.20

 Exhibit 10.20 

FULGENT GENETICS, INC. 

DIRECTOR COMPENSATION PROGRAM 
 This
Director Compensation Program (this “Program”) sets forth the compensation payable to directors of Fulgent Genetics, Inc., a Delaware corporation (the “Company”), as consideration for their service as directors of
the Company. This Program does not constitute a legally binding contract or arrangement and may be changed or rescinded at any time upon the approval of the Company’s Board of Directors (the “Board”). This Program shall become
effective as of the time that the registration statement on Form S-1 for the Company’s initial public offering of its common stock is declared effective by the Securities and Exchange Commission. 

 

	A.	Cash Compensation and Reimbursement. 

  

	 	1.	Each director of the Company (each, a “Director”) shall receive reimbursement in cash for his or her reasonable out-of-pocket costs and travel expenses incurred in connection with attendance at meetings
of the Board and the committees of the Board (the “Committees”) of which such Director is a member, which reimbursement shall be paid by the Company within thirty (30) days after the Company’s receipt of a Director’s
request for reimbursement and reasonable evidence of such costs and expenses. 

  

	 	2.	Each Director that is not an employee of the Company or any of its affiliates (each, a “Non-Employee Director”) shall receive the following annual cash retainer fees (collectively, the “Cash
Retainer Fees”) based on his or her service as a Director, Chair of a Committee and/or member of a Committee: 

  

					
	 	  	Cash
Retainer Fee
Amount(1)	 
	 Annual Director Cash Retainer Fee:
	  			
	 Each Non-Employee Director
	  	$	35,000	  
		
	 Annual Committee Chair Cash Retainer
Fees:(2)
	  			
	 Audit Committee Chair
	  	$	15,000	  
	 Compensation Committee Chair
	  	$	10,000	  
	 Nominating Committee Chair
	  	$	6,000	  
		
	 Annual Committee Member Cash Retainer
Fees:(2)
	  			
	 Audit Committee Member
	  	$	7,500	  
	 Compensation Committee Member
	  	$	5,000	  
	 Nominating Committee Member
	  	$	3,000	  

  

	(1)	Directors, Committee Chairs and Committee members receive pro-rated amounts of all applicable Cash Retainer Fees for any partial year of service in any such position. 

	(2)	Cash Retainer Fees for Committee Chair and Committee member positions are in addition to the Cash Retainer Fee for service as a Director. 

All Cash Retainer Fees earned by a Non-Employee Director for service as a director during a fiscal year shall be paid by the Company within
thirty (30) days after the end of such fiscal year. 

  
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	B.	Equity Compensation. 

  

	 	1.	Subject to the approval of the administrator under the applicable Plan (as defined below), on the date of his or her election or appointment as a Director, each Non-Employee Director except for Dr. Yun Yen shall be
granted the following equity award or awards (such award or awards, the “Initial Award”): (i) a non-qualified stock option award to acquire up to a number of shares of the Company’s common stock equal to the applicable
Available Amount (as defined below); (ii) a restricted stock unit award relating to a number of shares of the Company’s common stock equal to the product obtained by multiplying (a) the applicable Available Amount, by (b) 0.4; or (iii) a
non-qualified stock option award and a restricted stock unit award to acquire or relating to, as applicable, a number of shares of the Company’s common stock such that the sum of (a) the number of shares of the Company’s common stock
subject to the non-qualified stock option award, and (b) the quotient obtained by dividing (1) the number of shares of the Company’s common stock subject to the restricted stock unit award, by (2) 0.4, is equal to the applicable Available
Amount. 

  

	 	2.	Subject to the approval of the administrator under the applicable Plan, on the date of each Annual Meeting of the Stockholders of the Company, each Non-Employee Director except for Dr. Yun Yen that is serving as such
immediately prior to and immediately after the applicable Annual Meeting of the Stockholders shall be granted the following equity award or awards (such award or awards, the “Annual Award”): (i) a non-qualified stock option award to
acquire up to a number of shares of the Company’s common stock equal to the applicable Available Amount; (ii) a restricted stock unit award relating to a number of shares of the Company’s common stock equal to the product obtained by
multiplying (a) the applicable Available Amount, by (b) 0.4; or (iii) a non-qualified stock option award and a restricted stock unit award to acquire or relating to, as applicable, a number of shares of the Company’s common stock such that the
sum of (a) the number of shares of the Company’s common stock subject to the non-qualified stock option award, and (b) the quotient obtained by dividing (1) the number of shares of the Company’s common stock subject to the restricted stock
unit award, by (2) 0.4, is equal to the applicable Available Amount. 

  

	 	3.	In addition to the Initial Award and the Annual Award, directors shall be eligible to receive such additional equity awards in such amounts and on such dates and subject to such terms as the Board and/or any appropriate
Committees may approve. 

  

	 	4.	For purposes of this Program, the “Available Amount” for all Initial Awards and Annual Awards shall be as follows: 

 

					
	 	  	Available Amount	 
	 Initial Award
	  	 	20,000	  
	 Annual Award
	  	 	5,000	  

  

	 	5.	 All Initial Awards and Annual Awards (referred to collectively as the “Awards”) shall be granted
under and subject to the Company’s 2016 Omnibus Incentive Plan or such other comparable equity incentive plan of the Company that is then in effect (such applicable 

  
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plan, the “Plan”) and shall be subject to the following terms: (i) each Award that is a non-qualified stock option shall expire after 10 years; (ii) each Initial Award shall
commence vesting on the date of the appointment or election of the applicable Non-Employee Director, and each Annual Award shall commence vesting on the date of the applicable Annual Meeting of Stockholders of the Company; (iii) each Award shall
vest as follows: one-quarter of the shares of the Company’s common stock subject to the Award shall vest one year after the vesting commencement date of the Award and 1/16 of the remainder of the shares of the Company’s common stock
subject to the Award shall vest at the end of every three-month period thereafter, subject to the applicable Non-Employee Director’s continued service for the Company on each such vesting date; and (iii) each Award shall be subject to all other
terms set forth in the applicable form of award agreement under the Plan that has been approved by the Board. 

  
 3Exhibit
10.1 

 

AR
Capital Acquisition Corp.

 

September 16, 2016

 

Citigroup Global Markets Inc.

As Representative of the several Underwriters,

c/o Citigroup Global Markets Inc.

388 Greenwich Street

New York, New York 10013

 

Ladies and Gentlemen:

 

Reference is made to the Underwriting Agreement
(the “Underwriting Agreement”), dated October 1, 2014, entered into by Citigroup Global Markets Inc., as representative
(the “Representative”) of the several underwriters named in Schedule I thereto (collectively, the “Underwriters”),
and AR Capital Acquisition Corp. (the “Company”) relating to the Company’s initial public offering. Capitalized
terms used but not defined herein have the meanings given to them in the Underwriting Agreement.

 

In light of the fact that the Company has not
yet announced a Business Combination, on September 15, 2016, the Company filed a preliminary proxy statement (the “Preliminary
Proxy Statement”) with the Securities and Exchange Commission with respect to, among other things, a proposal for the Company’s
stockholders to amend the Company’s Amended and Restated Certificate of Incorporation to extend the date by which the Company
must complete a Business Combination or otherwise cease operations and liquidate from October 7, 2016 to December 31, 2017. In
connection therewith, the Company and the Representative wish to amend the Underwriting Agreement as follows:

 

1.          The
Representative and the Company hereby agree that the first sentence of Section 2(c) of the Underwriting Agreement is hereby amended
by this letter agreement (this “Amendment”) so that instead of the Deferred Discount being “$0.24 per
Unit (for both Underwritten Securities and Option Securities) purchased hereunder” it is “an aggregate amount equal
to 2.4% of the amount on deposit in the Trust Account on the first Business Day following (i) the completion of any redemptions
of Public Shares in connection with the vote of the Company’s stockholders, held prior to October 7, 2016, on an amendment
to the Company’s Amended and Restated Certificate of Incorporation to extend the date by which the Company must complete
a Business Combination (the “Pre-Expiration Extension”) and (ii) if the Company conducts a reverse stock split in connection
with the Pre-Expiration Extension, the distribution of the cash dividend described in the Preliminary Proxy Statement in connection
therewith.”

 

2.          The
Representative and the Company hereby further agree that, if the Pre-Expiration Extension is approved, all references in the Underwriting
Agreement to the Company not completing a Business Combination “within twenty-four (24) months from the date of the consummation
of the Offering” or “by twenty-four (24) months from the date of the consummation of the Offering” shall instead
be to “by December 31, 2017.”

 

     

     

    

 

Except as expressly modified herein, all of
the terms of the Underwriting Agreement shall remain in full force and effect. This Amendment may be executed in two or more counterparts,
each of which shall be deemed an original but all of which shall constitute the same Amendment.

 

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If the foregoing is in accordance with your
understanding of our agreement, kindly indicate your acceptance in the space provided for that purpose below, whereupon it will
become a binding agreement among the Company and the several Underwriters in accordance with its terms.

 

	 	Very truly yours,
	 	 
	 	AR CAPITAL ACQUISITION CORP.
	 	 	 
	 	By:  	/s/ William Kahane
	 	 	Name: William Kahane
	 	 	Title:  CEO

 

	CITIGROUP GLOBAL MARKETS INC.	 
	 	 	 
	By:  	/s/ Neil Shah	 
	 	Name: Neil Shah	 
	 	Title: Managing Director	 
	 	 
	For itself and the other	 
	several Underwriters named in	 
	Schedule I to the Underwriting	 
	Agreement.	 

 

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