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Exhibit 10.5

DOMA HOLDINGS, INC.
OUTSIDE DIRECTOR COMPENSATION POLICY
(Originally Adopted and approved July 28, 2021; Amended & Restated June 29, 2022)
Doma Holdings, Inc. (the “Company”) believes that the granting of equity and cash compensation to its members of the Board of Directors (the “Board,” and members of the Board, “Directors”) represents a powerful tool to attract, retain and reward Directors who are not employees of the Company or its subsidiaries (each, an “Outside Director”). This Outside Director Compensation Policy (this “Policy”) is intended to formalize the Company’s policy regarding cash compensation and grants of equity to its Outside Directors. Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given such term in the Doma Holdings, Inc. Omnibus Incentive Plan (as amended from time to time, the “Plan”).  Outside Directors will be solely responsible for any tax obligations they incur as a result of the equity and cash payments received under this Policy. Notwithstanding anything to the contrary herein, no compensation shall be paid under this Policy to any Outside Director who does not also satisfy, as determined by the Company, the independence standards of Item 407(a) of Regulation S-K of the Securities Exchange Act of 1934, as amended. 
1.Cash Compensation
The following annual cash compensation for Outside Directors is payable quarterly in arrears on a prorated basis.
GENERAL BOARD ANNUAL RETAINER
Annual cash compensation for the general services of Outside Directors is as follows:
Outside Director:  $35,000 general annual retainer
Directors will receive no additional compensation for attending regular meetings of the Board. 
NON-EXECUTIVE CHAIRMAN ANNUAL RETAINER
Additional annual cash compensation for the general services of the chairperson of the board who is not an employee of the Company or its subsidiaries (the “Non-Executive Chairperson”) is as follows:
Non-Executive Chairperson:  $30,000 chairperson annual retainer
COMMITTEE ANNUAL RETAINERS
In addition to the annual cash retainers described above, each Outside Director will also receive annual cash retainers in recognition of their service on the committees of the Board. 
(a)    Audit Committee. 
Annual cash compensation for members of the audit committee of the Board (the “Audit Committee”) is as follows:
Chairperson of the Audit Committee:  $20,000 chairperson annual retainer

Non-Chairperson Member of the Audit Committee:  $10,000 non-chairperson annual retainer
There are no per meeting attendance fees for attending Audit Committee meetings.
(b)    Compensation Committee. 
Annual cash compensation for members of the compensation committee (the “Compensation Committee”) is as follows:
Chairperson of the Compensation Committee:  $15,000 chairperson annual retainer
Non-Chairperson Member of the Compensation Committee:  $7,500 non-chairperson annual retainer
There are no per meeting attendance fees for attending Compensation Committee meetings.
    (c)    Nominating and Corporate Governance Committee.
Annual cash compensation for members of the nominating and corporate governance committee (the “Nominating and Corporate Governance Committee”) is as follows:
Chairperson of the Nominating and Corporate Governance Committee:  $10,000 chairperson annual retainer
Non-Chairperson Member of the Nominating and Corporate Governance:  $5,000 non-chairperson annual retainer 
There are no per meeting attendance fees for attending Nominating and Corporate Governance Committee meetings.
2.Equity Compensation
Outside Directors will also receive the following Awards:  
(a)    Initial Award.  On or as soon as reasonably practicable following the commencement date of each Outside Director’s service on the Board (the “Start Date”), such Outside Director will be automatically granted an award of RSUs with a Value of $225,000 (the “Initial Award”). The Initial Award will vest annually in equal installments over the first three anniversaries of the Start Date, subject to the Outside Director’s continued service on Board through each applicable vesting date. 
(b)    Annual Award.  On the day of each annual meeting of the Company’s shareholders (“Annual Meeting”), each Outside Director will be automatically granted an award of RSUs with a Value of $150,000 (or $220,000, in the case of a Non-Executive Chairperson) (the “Annual Award”). The Annual Award will vest in full on the earlier of (i) the one-year anniversary of the date of grant and (ii) the date of the next Annual Meeting held after the date of grant, in each case, subject to the Outside Director’s continued service on the Board through the applicable vesting date. Notwithstanding the foregoing, an Outside Director will not receive an Annual Award if he or she received an Initial Award in the same year.
(c)    Value.  For purposes of Sections 2(a) and 2(b), “Value” means (i)(x) the fair value for financial accounting purposes based on the average of the daily closing price for the 15 
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consecutive trading days prior to the date of grant or (y) such other value as determined by the Compensation Committee, in each case, with the number of Shares of the Company’s common stock determined based on that Value, rounded down or (ii) as otherwise determined by the Compensation Committee; provided that for purposes of this Section 2(c), any such Value determined by the Compensation Committee shall not result in granting more Shares than if the Value calculation set forth in Section 2(c)(i)(x) had been used.
3.Other Compensation and Benefits
Outside Directors may also be eligible to receive other compensation and benefits, including reasonable personal benefits and perquisites, as determined by the Board or its applicable delegate from time to time.
4.Change in Control
In the event of a Change in Control, each Outside Director will fully vest in his or her outstanding Company equity awards, including any Initial Award or Annual Award, subject to  the Outside Director’s continued service on the Board through the date of the Change in Control. 
5.Travel Expenses
Each Outside Director’s reasonable, customary and documented travel expenses to Board meetings will be reimbursed by the Company.
6.Additional Provisions
All provisions of the Plan not inconsistent with this Policy will apply to Awards granted to Outside Directors.
7.Adjustments
In the event that the Board or its applicable delegate determines that, as a result of any extraordinary dividend or other extraordinary distribution (other than an ordinary dividend or distribution), recapitalization, stock split, reverse stock split, reorganization, merger, amalgamation, consolidation, separation, rights offering, split-up, spin-off, combination, repurchase or exchange of Shares or other securities of the Company, or other similar corporate transaction or event affecting the Shares, or of changes in applicable laws, regulations or accounting principles, an adjustment is necessary in order to prevent dilution or enlargement of the benefits or potential benefits intended to be made available under this Policy, then the Board or its applicable delegate will, subject to the applicable provision of the Plan and applicable law, adjust the number of Shares issuable pursuant to Awards granted under this Policy.
8.Section 409A
In no event will cash compensation or expense reimbursement payments under this Policy be paid after the later of (i) the 15th day of the 3rd month following the end of the Company’s fiscal year in which the compensation is earned or expenses are incurred, as applicable, or (ii) the 15th day of the 3rd month following the end of the calendar year in which the compensation is earned or expenses are incurred, as applicable, in compliance with the “short-term deferral” exception under Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and guidance thereunder, as may be amended from time to time (together, “Section 409A”).  It is the intent of this Policy that this Policy and all payments hereunder be exempt from or otherwise comply with the requirements of Section 409A so that none of the compensation to be provided hereunder will be subject to the additional tax imposed 
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under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be so exempt or comply.  In no event will the Company reimburse an Outside Director for any taxes imposed or other costs incurred as a result of Section 409A.
9.Revisions; Misc.
The Board or the Compensation Committee, each in its discretion, may change and otherwise revise the terms of Initial Awards or Annual Awards granted under this Policy, including, without limitation, the number of Shares and the type of Award subject thereto. For the avoidance of doubt, each of the Board or the Compensation Committee or either’s applicable delegate may, in its sole discretion, grant additional awards, compensation and benefits to Outside Directors as the Administrator deems appropriate. 
The Board or the Compensation Committee may also amend, alter, suspend or terminate this Policy at any time and for any reason.  No amendment, alteration, suspension or termination of this Policy will materially impair the rights of an Outside Director with respect to compensation that already has been paid or awarded, unless otherwise mutually agreed between the Outside Director and the Company.  Termination of this Policy will not affect the Board’s, the Compensation Committee’s or the Administrator’s ability to exercise the powers granted to it under the Plan with respect to Awards granted under the Plan pursuant to this Policy prior to the date of such termination.   
Notwithstanding anything herein to the contrary, and for the avoidance of doubt, any Outside Director entitled to compensation pursuant to this Policy may voluntarily, at such Outside Director’s sole election, decline or refuse to accept any or all such compensation to which such Outside Director may be entitled hereunder.  
4EX-10.1

  Exhibit 10.1

  CODEX DNA, INC.

  AMENDED AND RESTATED OUTSIDE DIRECTOR COMPENSATION POLICY

   

  (Adopted on May 26, 2021, effective upon the effectiveness of the registration statement relating to the Company’s initial public offering (the “Original Effective Date”); most recently amended on May 1, 2022)

  Codex DNA, Inc. (the “Company”) believes that the granting of equity and cash compensation to its members of the Board of Directors (the “Board,” and members of the Board, the “Directors”) represents an effective tool to attract, retain, and reward Directors who are not employees of the Company (the “Outside Directors”).  This Amended and Restated Outside Director Compensation Policy (the “Policy”) is intended to formalize the Company’s policy regarding the compensation to its Outside Directors.  Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given to such terms in the Company’s 2021 Stock Incentive Plan (the “Plan”), or if the Plan is no longer in place, the meaning given to such terms or any similar terms in the equity plan then in place.  Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity and cash payments such Outside Director receives under this Policy.

  1.Cash Compensation

  Annual Cash Retainer

  Each Outside Director will be paid an annual cash retainer of $40,000.  There are no per‐meeting attendance fees for attending Board meetings.  

  Non-Executive Chair / Committee Membership Annual Cash Retainer

  Each Outside Director who serves as Non-Executive Chair, or chair or member of a committee of the Board will be paid additional annual fees as follows: 

   

  

   

   

  		
	Non-Executive Chair:
	$35,000

	Chair of Audit Committee:
	$20,000

	Member of Audit Committee (other than the Chair of the Audit Committee):
	$10,000

	Chair of Nominating and Corporate Governance Committee:
	$10,000

	Member of Nominating and Corporate Governance Committee (other than the Chair of the Nominating and Corporate Governance Committee):
	 
$5,000

	Chair of Compensation Committee:
	$15,000

	Member of Compensation Committee (other than the Chair of the Compensation Committee):
	$7,000

  Each annual cash retainer and additional annual fee will be paid quarterly in arrears on a prorated basis.

  2.Equity Compensation

  Outside Directors will be eligible to receive all types of Awards (except Incentive Stock Options) under the Plan (or the applicable equity plan in place at the time of grant), including discretionary Awards not covered under this Policy.  All grants of Awards to Outside Directors pursuant to Section 2 of this Policy will be automatic and nondiscretionary, except as otherwise provided herein, and will be made in accordance with the following provisions:

  a.No Discretion.  No person will have any discretion to select which Outside Directors will be granted any Awards under this Policy or to determine the number of Shares to be covered by such Awards.

  b.Initial Award.  Subject to Section 7 of this Policy, each individual who first becomes an Outside Director will be granted a combination of Options to purchase Shares and Restricted Stock Units (“RSUs”) that have a combined value of $360,000 as of the date of such grant (an “Initial Award”); provided that the Initial Award shall be comprised of 60% Options and 40% RSUs.  The number of Options subject to the Initial Award will be determined by dividing the dollar value of the Initial Award by the Black Scholes value of a Share on the Initial Award Grant Date (with the number of Shares subject to the Option rounded down to the nearest whole Share).  The number of RSUs subject to the Initial Award will be determined by a 3:2 Option to RSU conversion ratio (rounded down to the nearest whole RSU). The Initial Award will be made on the first Trading Day on or after the date on which such individual first becomes an Outside Director, whether through election by the stockholders of the Company or appointment by the Board to fill a vacancy 

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  (such grant date, the “Initial Award Grant Date”).  If an individual was a member of the Board and also an employee, becoming an Outside Director due to termination of employment will not entitle the Outside Director to an Initial Award.

  Subject to Section 3 of this Policy, each Initial Award will be scheduled to vest as follows: (i) for Options, 1/36th of the Shares subject to the Initial Award will be scheduled to vest each month following the Initial Award Grant Date on the same day of the month as the Initial Award Grant Date (or, if there is no corresponding day in a particular month, then the last day of that month), and (ii) for RSUs, 1/3rd of the Shares subject to the Initial Award will be scheduled to vest on each annual anniversary of the Initial Award Grant Date. 

  c.Annual Award.  Subject to Section 7 of this Policy, on the date of each annual meeting of the Company’s stockholders (each, an “Annual Meeting”), each Outside Director will be automatically granted a combination of Options to purchase Shares and RSUs that have a combined value of $180,000 as of the date of such grant (an “Annual Award”); provided that the Annual Award shall be comprised of 60% Options and 40% RSUs. The number of Options subject to the Annual Award will be determined by dividing the dollar value of the Annual Award by the Black Scholes value of a Share on the grant date (with the number of Shares subject to the Option rounded down to the nearest whole Share).  The number of RSUs subject to the Annual Award will be determined by a 3:2 Option to RSU conversion ratio (rounded down to the nearest whole RSU). Notwithstanding the foregoing, any Outside Director who has not been a Director for at least six (6) months prior to the date of the applicable Annual Meeting will not receive an Annual Award.  

  Subject to Section 3 of this Policy, each Annual Award will be scheduled to vest on the earlier of (i) the one (1)-year anniversary of the date the Annual Award is granted, or (ii) the day prior to the date of the Annual Meeting next following the date the Annual Award is granted, in each case, subject to the Outside Director continuing to be a Service Provider through the applicable vesting date

  d.Additional Terms of Initial Awards and Annual Awards.  The terms and conditions of each Initial Award and Annual Award will be as follows:

  i.Each Option granted pursuant to this Policy will be a nonstatutory stock option for U.S. tax purposes.  

  ii.The term of each Option granted pursuant to this Policy will be ten (10) years, subject to earlier termination as provided in the Plan. 

  iii.The exercise price per Share of each Option granted pursuant to this Policy will be equal to 100% of the Fair Market Value per Share on such Option’s grant date. 

  iv.Each Initial Award and Annual Award will be granted under and subject to the terms and conditions of the Plan and the applicable form of Award Agreement previously approved by the Board or its Compensation Committee, as applicable, for use thereunder.

  3.Change in Control

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  In the event of a Change in Control, each Outside Director outstanding Company equity awards will be treated in accordance with the terms of the Plan.

  4.Travel Expenses

  Each Outside Director’s reasonable, customary, and documented travel expenses to Board meetings will be reimbursed by the Company.

  5.Additional Provisions

  	All provisions of the Plan not inconsistent with this Policy will apply to Awards granted to Outside Directors.

  6.Adjustments

  	In the event that any dividend or other distribution (whether in the form of cash, Shares, other securities or other property), recapitalization, stock split, reverse stock split, reorganization, merger, consolidation, split-up, spin-off, combination, reclassification, repurchase, or exchange of Shares or other securities of the Company, or other change in the corporate structure of the Company affecting the Shares occurs, the Administrator, in order to prevent diminution or enlargement of the benefits or potential benefits intended to be made available under this Policy, will adjust the number of Shares issuable pursuant to Awards granted under this Policy.

  7.Limitations

  No Outside Director may be paid, issued or granted, in any Fiscal Year, cash payments (including the fees under Section 1 above) and Awards with an aggregate value greater than $750,000, increased to $1,000,000 in connection with his or her initial service (with the value of Awards based on its grant date fair value (determined in accordance with U.S. generally accepted accounting principles)).  Any Awards or other compensation provided to an individual (a) for his or her services as an Employee, or for his or her services as a Consultant other than as an Outside Director, or (b) prior to the Original Effective Date, will be excluded for purposes of the foregoing limits.

  8.Section 409A

  In no event will cash compensation or expense reimbursement payments under this Policy be paid after the later of (a) the fifteenth (15th) day of the third (3rd) month following the end of the Company’s fiscal year in which the compensation is earned or expenses are incurred, as applicable, or (b) the fifteenth (15th) day of the third (3rd) month following the end of the calendar year in which the compensation is earned or expenses are incurred, as applicable, in compliance with the “short-term deferral” exception under Section 409A of the Internal Revenue Code of 1986, as amended, and the final regulations and guidance thereunder, as may be amended from time to time (together, “Section 409A”).  It is the intent of this Policy that this Policy and all payments hereunder be exempt from or otherwise comply with the requirements of Section 409A so that none of the compensation to be provided hereunder will be subject to the additional tax imposed under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be so 

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  exempt or comply.  In no event will the Company reimburse an Outside Director for any taxes imposed or other costs incurred as a result of Section 409A.

  9.Revisions

  The Board or any Committee designated by the Board may amend, alter, suspend, or terminate this Policy at any time and for any reason.  No amendment, alteration, suspension, or termination of this Policy will materially impair the rights of an Outside Director with respect to compensation that already has been paid or awarded, unless otherwise mutually agreed between the Outside Director and the Company.  Termination of this Policy will not affect the Board’s or the Compensation Committee’s ability to exercise the powers granted to it under the Plan with respect to Awards granted under the Plan pursuant to this Policy prior to the date of such termination.   

   

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