Document:

Form of Registrant's Common Stock Certificate

 Exhibit 4.1 

 

	
	
 

 The Corporation is authorized to issue more than one class of stock. The Corporation shall
furnish without charge to each stockholder who so requests the powers, designations, preferences and relative, participating, optional or other special rights of each class of stock of the Corporation or series thereof and the qualifications,
limitations or restrictions of such preferences and/or rights. Such requests shall be made to the Corporation’s Secretary at the principal office of the Corporation. 
 The following abbreviations, when used in the inscription on 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	 	  

	 TEN ENT
	 	 –
	 	as tenants by the entireties	 		 	(Cust)	 		 	(Minor)
	 JT TEN
	 	 –
	 	as joint tenants with right	 		 	under Uniform Gifts to Minors
		 		 	of survivorship and not as	 		 	Act	 	  
	 	
		 		 	tenants in common	 		 		 	(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 ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF THE CERTIFICATE, IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT, OR ANY CHANGE
WHATEVER.

 SIGNATURE(S) GUARANTEED: 
  

			
	  
	  	
	THE SIGNATURE(S) MUST 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.	  	

 KEEP THIS CERTIFICATE IN A SAFE PLACE. IF IT IS LOST, STOLEN OR DESTROYED THE CORPORATION WILL REQUIRE A BOND OF
INDEMNITY AS A CONDITION TO THE ISSUANCE OF A REPLACEMENT CERTIFICATE.Non-Employee Director Compensation Policy

 Exhibit 10.5 
 ADVANCED BIOHEALING, INC. 
 NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

 Non-employee members of the board of directors (the “Board”) of Advanced BioHealing, Inc. (the
“Company”) shall be eligible to receive cash and equity compensation commencing on the date immediately preceding the first date upon which the Company is subject to the reporting requirements of Section 13 or 15(d)(2) of the
Securities Exchange Act of 1934, as amended (the “Public Trading Date”), as set forth in this Non-Employee Director Compensation Policy (this “Policy”). The cash and equity compensation described in
this Policy shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of the Company or any parent or subsidiary of the Company (each, a
“Non-Employee Director”) who may be eligible to receive such cash or equity compensation, unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company. This
Policy shall remain in effect until it is revised or rescinded by further action of the Board. The terms and conditions of this Policy shall supersede any prior cash or equity compensation arrangements between the Company and its Non-Employee
Directors. 
 1. Cash Compensation. 
 (a) Annual Retainers. Each Non-Employee Director shall be eligible to receive an annual retainer of $30,000 for service on the Board. 

(b) Additional Annual Retainers. In addition, a Non-Employee Director shall receive the following additional annual retainers:

 (i) Lead Independent Director or Chairman of the Board. A Non-Employee Director serving as Lead Independent Director
or Chairman of the Board shall receive an additional annual retainer of $10,000 for such service. 
 (ii) Chairperson of the
Audit Committee. A Non-Employee Director serving as Chairperson of the Audit Committee shall receive an additional annual retainer of $20,000 for such service. 
 (iii) Member of the Audit Committee. A Non-Employee Director serving as a member of the Audit Committee (other than the Chairperson) shall receive an additional annual retainer of $10,000 for such
service. 
 (iv) Chairperson of the Compensation Committee. A Non-Employee Director serving as Chairperson of the
Compensation Committee shall receive an additional annual retainer of $16,000 for such service. 
 (v) Member of the
Compensation Committee. A Non-Employee Director serving as a member of the Compensation Committee (other than the Chairperson) shall receive an additional annual retainer of $8,000 for such service. 

(vi) Chairperson of the Nominating and Corporate Governance Committee. A Non-Employee Director serving as Chairperson of the
Nominating and Corporate Governance Committee shall receive an additional annual retainer of $8,000 for such service. 
 (vii)
Member of the Nominating and Corporate Governance Committee. A Non-Employee Director serving as a member of the Nominating and Corporate Governance Committee (other than the Chairperson) shall receive an additional annual retainer of $4,000
for such service. 

 (c) Payment of Retainers. Other than as provided in Section 1(d) below, the
annual retainers described in Sections 1(a) and 1(b) shall be earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in arrears not later than the fifth business day following the end of each calendar quarter. In
the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 1(b), for an entire calendar quarter, the retainer paid to such Non-Employee Director shall be prorated for the
portion of such calendar quarter actually served as a Non-Employee Director, or in such positions, as applicable. Non-Employee Directors may elect to receive vested shares of common stock in lieu of the foregoing retainers on the date on which such
retainers would otherwise have been paid in cash in accordance with the terms and conditions of the Company’s Equity Incentive Award Plan (the “Equity Plan”). 

(d) Accrued 2011 Retainers. Each person who is serving as a Non-Employee Director on the date immediately preceding the Public
Trading Date shall receive a payment of those annual retainers that would have accrued during the period commencing January 1, 2011 and ending on such date. A Non-Employee Director may elect to receive such payment in the form of such number of
vested shares of common stock as is equal to (i) his or her accrued retainers for such period, divided by (ii) the initial public offering price per share of the Company’s common stock. 

2. Equity Compensation. Non-Employee Directors shall be granted the equity awards described below. The awards described below
shall be granted under and shall be subject to the terms and provisions of the Equity Plan and shall be granted subject to the execution and delivery of award agreements, including attached exhibits, in substantially the same forms previously
approved by the Board, setting forth the vesting schedule applicable to such awards and such other terms as may be required by the Equity Plan. 
 (a) Initial Awards. A person who is serving as a Non-Employee Director on the date immediately preceding the Public Trading Date shall be eligible to receive a stock option to purchase 31,320
shares of the Company’s common stock on such date. In addition, a person who is initially elected or appointed to the Board following the Public Trading Date, and who is a Non-Employee Director at the time of such initial election or
appointment, shall be eligible to receive a stock option to purchase 31,320 shares of the Company’s common stock on the date of such initial election or appointment. The awards described in this Section 2(a) shall be referred to as
“Initial Awards.” No Non-Employee Director shall be granted more than one Initial Award. 
 (b)
Subsequent Awards. A person who is a Non-Employee Director immediately following each annual meeting of the Company’s stockholders after the Public Trading Date and who will continue to serve as a Non-Employee Director immediately
following such meeting shall be automatically granted (i) an option to purchase 11,745 number of shares of the Company’s common stock and (ii) 3,915 restricted stock units, on the date of such annual meeting. The awards described in
this Section 2(b) shall be referred to as “Subsequent Awards.” For the avoidance of doubt, a Non-Employee Director elected for the first time to the Board at an annual meeting of the Company’s stockholders shall
only receive an Initial Award in connection with such election, and shall not receive any Subsequent Award on the date of such meeting as well. 
 (c) Termination of Employment of Employee Directors. Members of the Board who are employees of the Company or any parent or subsidiary of the Company who subsequently terminate their employment
with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Award pursuant to Section 2(a) above, but to the extent that they are otherwise eligible, will be eligible to receive, after
termination from employment with the Company and any parent or subsidiary of the Company, Subsequent Awards as described in Section 2(b) above. 
 (d) Terms of Awards Granted to Non-Employee Directors. 
 (i) Purchase
Price. The per share exercise price of each option granted to a Non-Employee Director shall equal 100% of the Fair Market Value (as defined in the Equity Plan) of a 

 
share of common stock on the date the option is granted; provided, however, that the per share exercise price of each Initial Award granted to a Non-Employee Director on the date
immediately preceding the Public Trading Date shall equal the initial public offering price per share of the Company’s common stock. 
 (ii) Vesting. Each Initial Award shall vest and become exercisable as to one-third of the shares subject to such award on each of the first three anniversaries of the date of grant, subject to the
Non-Employee Director continuing in service on the Board through such dates. Each Subsequent Award shall vest and/or become exercisable on the first anniversary of the date of grant, subject to the Non-Employee Director continuing in service on the
Board through such dates. All of a Non-Employee Director’s Initial Awards and Subsequent Awards shall vest in full upon the occurrence of a Change in Control (as defined in the Equity Plan). 

(iii) Term. The term of each stock option granted to a Non-Employee Director shall be ten years from the date the option is
granted. Upon a Non-Employee Director’s termination of membership on the Board for any reason, his or her stock options granted under this Policy shall remain exercisable for twelve months following his or her termination of membership on the
Board (or such longer period as the Board may determine in its discretion on or after the date of grant of such stock options).

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