Document:

EX-10.1

 Exhibit 10.1 

SECOND AMENDMENT AND WARRANT EXCHANGE AGREEMENT 

This Second Amendment and Warrant Exchange Agreement (the “Agreement”), dated as of October 9, 2013, is by and between
American Superconductor Corporation, a Delaware corporation with offices located at 64 Jackson Road, Devens, MA 01434 (the “Company”), and the holder identified on the signature page hereto (“Holder”). 

R E C I T A L S 
 A. On
April 4, 2012, the Company issued to the Holder a Senior Convertible Note with an original principal amount of $25,000,000 (the “Original Note”) and a Series A Warrant to purchase 3,094,060 shares of Common Stock (the
“Existing Warrant”), each pursuant to a Securities Purchase Agreement dated as of April 4, 2012 (the “Securities Purchase Agreement”). 

B. On December 20, 2012, the Company and the Holder entered into an Amendment and Exchange Agreement (the “Amendment and Exchange
Agreement”) pursuant to which the Company and the Holder exchanged the Original Note for a Senior Convertible Note in the form attached as Exhibit A to the Amendment and Exchange Agreement (the “Exchanged Note”). 

C. The Company and the Holder desire to enter into this Agreement, pursuant to which, the Company and the Holder shall (i) amend and/or
waive certain provisions of the Securities Purchase Agreement and the Exchanged Note and (ii) exchange the Existing Warrant for a Warrant in the form attached hereto as Exhibit A (the “Exchanged Warrant”), with the same current
terms and conditions as the Existing Warrant (other than the Exercise Price) and convertible into Common Stock of the Company as set forth therein (the Exchanged Warrant as exercised, the “Exchanged Warrant Shares”). Capitalized
terms not defined herein shall have the meaning as set forth in the Securities Purchase Agreement, the Exchanged Note or the Existing Warrant, as applicable. 

D. The exchange of the Existing Warrant for the Exchanged Warrant is being made in reliance upon the exemption from registration provided by
Section 3(a)(9) of the Securities Act of 1933, as amended (the “Securities Act”). 
 A G R E E M E N T 

1. Waivers Under the Securities Purchase Agreement and Exchange Note. Effective upon the Closing (as defined below), the Holder hereby
waives the provisions of Section 4(o) (Participation Rights) of the Securities Purchase Agreement solely with respect to any registered “at the market” (“ATM”) offerings pursuant to the Company’s currently effective
Registration Statement on Form S-3 (Registration No. 333-191153) that may be conducted by the Company, provided, however, that this waiver shall not be applicable to any registered direct or underwritten public offering conducted
by the Company and (b) the issuance of shares of Common Stock in connection with any settlement of currently outstanding litigation involving the Company. The Holder hereby waives the provisions of Section 7 (Rights Upon Issuance of Other
Securities) of the Exchanged Note with respect to the issuance of the Exchanged Warrant and, if applicable, the Exchanged Warrant Shares. 

  
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 2. Amendments to the Exchanged Note. 

2.1 Section 8(f) of the Exchanged Note is hereby amended by deleting the last sentence thereof and replacing it with the following: 

“Notwithstanding anything herein to the contrary, during the period commencing on an Installment Date (a “Current Installment
Date”) and ending on the Trading Day immediately prior to the next Installment Date, at the option of the Holder, at one or more times, the Holder may convert other Installment Amounts, in whole or in part, at the Company Conversion Price
of such Current Installment Date in accordance with the conversion procedures set forth in Section 3 hereunder, mutatis mutandis.” 

2.2 Section 31(kk) is hereby amended to increase the amount of Permitted Senior Indebtedness to $15,000,000, by replacing
“$10,000,000” with “$15,000,000” at the end of such definition. 
 3. Exchange. Subject to the satisfaction (or
waiver) of the conditions set forth in Sections 7 and 8 below, on the date hereof the Holder shall, and the Company shall, pursuant to Section 3(a)(9) of the Securities Act, exchange the Existing Warrant for the Exchanged Warrant. At the
Closing (as defined below), the following transactions shall occur (such transactions in this Section 1, the “Exchange”): 

3.1 Delivery. In exchange for the Existing Warrant, the Company shall deliver or cause to be delivered to the Holder the Exchanged
Warrant. The Holder shall deliver or cause to be delivered to the Company (or its designee) the Existing Warrant as soon as commercially practicable following the Closing. As of the Exchange Date, all of the Holder’s rights under the Existing
Warrant shall be extinguished. 
 3.2 Purchase Price. The Exchanged Warrant shall be issued to the Holder in exchange for the
Existing Warrant without the payment of any additional consideration. 
 3.3 Closing. Upon confirmation that the conditions to
closing specified in this Agreement have been satisfied or duly waived by the Holder or the Company, as applicable, the closing of the Exchange (the “Closing”) shall occur on the date hereof (the “Exchange
Date”). 
 4. Amendments to Transaction Documents. 

4.1 Ratifications. Except as otherwise expressly provided herein, the Securities Purchase Agreement and each other Transaction
Document, is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects, except that on and after the Exchange Date: (i) all references in the Securities Purchase Agreement to “this
Agreement”, “hereto”, “hereof”, “hereunder” or words of like import referring to the Securities Purchase Agreement shall mean the Securities Purchase Agreement as amended by the Amendment and Exchange Agreement and
this Agreement, (ii) all references in the other Transaction Documents, to the “Securities Purchase Agreement”, “thereto”, “thereof”, “thereunder” or words of like import referring to the Securities
Purchase Agreement shall mean the Securities Purchase Agreement as amended by the Amendment and Exchange Agreement and this Agreement, (iii) all references in the Registration Rights Agreement to “this Agreement”,

  
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“hereto”, “hereof”, “hereunder” or words of like import referring to the Registration Rights Agreement shall mean the Registration Rights Agreement as amended by the
Amendment and Exchange Agreement and this Agreement, and (iv) all references in the other Transaction Documents to the “Registration Rights Agreement”, “thereto”, “thereof”, “thereunder” or words of like
import referring to the Registration Rights Agreement shall mean the Registration Rights Agreement as amended by the Amendment and Exchange Agreement and this Agreement. 

4.2 Amendments to Transaction Documents. On and after the Exchange Date, each of the Transaction Documents are hereby amended as
follows: 
 (a) The defined term “Series A Warrants” is hereby amended and restated as “Exchanged Warrants (as defined in
the Second Amendment and Exchange Agreement)”. 
 (b) The defined term “Series A Warrant Shares” is hereby amended and
restated as “Exchanged Warrant Shares (as defined in the Second Amendment and Exchange Agreement)”. 
 (c) The defined term
“Transaction Documents” is hereby amended to include the Second Amendment and Exchange Agreement. 
 5. Company Representations
and Warranties. 
 5.1 Organization. Each of the Company and its Subsidiaries (as defined in the Exchanged Note) are entities
duly organized and validly existing and in good standing under the laws of the jurisdiction in which they are formed, and have the requisite power and authorization to own their properties and to carry on their business as now being conducted and as
presently proposed to be conducted. 
 5.2 Authorization and Binding Obligation. The Company has the requisite power and authority to
enter into and perform its obligations under this Agreement and each of the other agreements entered into by the parties hereto in connection with the transactions contemplated by this Agreement (collectively, and including the Exchanged Warrant for
the avoidance of doubt, the “Exchange Documents”) and to issue the Exchanged Warrant in accordance with the terms hereof and thereof. The execution and delivery of the Exchange Documents by the Company and the consummation by the
Company of the transactions contemplated hereby and thereby, including, without limitation, the issuance of the Exchanged Warrant and the reservation for issuance and issuance of Exchanged Warrant Shares issuable upon exercise of the Exchanged
Warrant Shares has been duly authorized by the Company’s Board of Directors and no further filing, consent, or authorization is required by the Company, its Board of Directors or its stockholders. This Agreement and the other Exchange Documents
have been duly executed and delivered by the Company, and constitute the legal, valid and binding obligations of the Company, enforceable against the Company in accordance with their respective terms, except as such enforceability may be limited by
general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. 

  
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 5.3 No Conflict. The execution, delivery and performance of the Exchange Documents by the
Company and the consummation by the Company of the transactions contemplated hereby and thereby (including, without limitation, the issuance of the Exchanged Warrant and reservation for issuance and issuance of the Exchanged Warrant Shares) will not
(i) result in a violation of the Certificate of Incorporation (as defined below) or other organizational documents of the Company or any of its Subsidiaries, any capital stock of the Company or any of its Subsidiaries or Bylaws (as defined
below) of the Company or any of its Subsidiaries, (ii) conflict with, or constitute a default (or an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, any agreement, indenture or instrument to which the Company or any of its Subsidiaries is a party, or (iii) result in a violation of any law, rule, regulation, order, judgment or decree (including foreign,
federal and state securities laws and regulations and the rules and regulations of the Nasdaq Global Select Market (the “Principal Market”) applicable to the Company or any of its Subsidiaries or by which any property or asset of
the Company or any of its Subsidiaries is bound or affected except, in the case of clause (ii) or (iii) above, to the extent such violations that could not reasonably be expected to have a Material Adverse Effect. 

5.4 No Consents. Neither the Company nor any Subsidiary is required to obtain any consent from, authorization or order of, or make any
filing or registration with (other than the filing with the SEC of a Form D with the SEC and any other filings as may be required by any state securities agencies), any court, governmental agency or any regulatory or self-regulatory agency or any
other Person in order for it to execute, deliver or perform any of its respective obligations under or contemplated by the Exchange Documents, in each case, in accordance with the terms hereof or thereof. All consents, authorizations, orders,
filings and registrations which the Company or any Subsidiary is required to obtain pursuant to the preceding sentence have been obtained or effected on or prior to the Exchange Date, and neither the Company nor any of its Subsidiaries are aware of
any facts or circumstances which might prevent the Company or any of its Subsidiaries from obtaining or effecting any of the registration, application or filings contemplated by the Exchange Documents. The Company is not in violation of the
requirements of the Principal Market and has no knowledge of any facts or circumstances which could reasonably lead to delisting or suspension of the Common Stock in the foreseeable future. 

5.5 Securities Law Exemptions. Assuming the accuracy of the representations and warranties of the Holder contained herein, the offer
and issuance by the Company of the Exchanged Warrant is exempt from registration under the Securities Act pursuant to the exemption provided by Section 3(a)(9) thereof. 

5.6 Issuance of Exchanged Warrant Shares. Upon issuance or exercise in accordance with the Exchanged Warrant, the Exchanged Warrant
Shares, when issued, will be validly issued, fully paid and nonassessable and free from all preemptive or similar rights, taxes, liens, charges and other encumbrances with respect to the issue thereof, with the holders being entitled to all rights
accorded to a holder of Common Stock. 
 5.7 SEC Documents; Financial Statements. Since the date of its most recent Annual Report on
Form 10-K, the Company has timely filed all reports, schedules, forms, statements and other documents required to be filed by it with the SEC pursuant to the reporting 

  
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requirements of the 1934 Act (all of the foregoing filed prior to the date hereof, as each may have been amended, and all exhibits included therein and financial statements, notes and schedules
thereto and documents incorporated by reference therein being hereinafter referred to as the “SEC Documents”). As of their respective dates, the SEC Documents complied in all material respects with the requirements of the 1934 Act
and the rules and regulations of the SEC promulgated thereunder applicable to the SEC Documents, and none of the SEC Documents, at the time they were filed with the SEC, contained any untrue statement of a material fact or omitted to state a
material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. As of their respective dates, the financial statements of the Company
included in the SEC Documents complied as to form in all material respects with applicable accounting requirements and the published rules and regulations of the SEC with respect thereto as in effect as of the time of filing. Such financial
statements have been prepared in accordance with generally accepted accounting principles, consistently applied, during the periods involved (except (i) as may be otherwise indicated in such financial statements or the notes thereto, or
(ii) in the case of unaudited interim statements, to the extent they may exclude footnotes or may be condensed or summary statements) and fairly present in all material respects the financial position of the Company as of the dates thereof and
the results of its operations and cash flows for the periods then ended (subject, in the case of unaudited statements, to normal year-end audit adjustments which will not be material, either individually or in the aggregate). 

5.8 Equity Capitalization. (i) None of the Company’s or any Subsidiary’s capital stock is subject to preemptive rights
or any other similar rights or any liens or encumbrances suffered or permitted by the Company or any Subsidiary; (ii) except as disclosed in the SEC Documents, there are no outstanding options, warrants, scrip, rights to subscribe to, calls or
commitments of any character whatsoever relating to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of the Company or any of its Subsidiaries, or contracts, commitments, understandings or arrangements
by which the Company or any of its Subsidiaries is or may become bound to issue additional capital stock of the Company or any of its Subsidiaries or options, warrants, scrip, rights to subscribe to, calls or commitments of any character whatsoever
relating to, or securities or rights convertible into, or exercisable or exchangeable for, any capital stock of the Company or any of its Subsidiaries; (iii) except as disclosed in the SEC Documents, there are no agreements or arrangements
under which the Company or any of its Subsidiaries is obligated to register the sale of any of their securities under the Securities Act (except pursuant to the Registration Rights Agreement); (iv) except as disclosed in the SEC Documents,
there are no outstanding securities or instruments of the Company or any of its Subsidiaries which contain any redemption or similar provisions, and there are no contracts, commitments, understandings or arrangements by which the Company or any of
its Subsidiaries is or may become bound to redeem a security of the Company or any of its Subsidiaries; (v) there are no securities or instruments containing anti-dilution or similar provisions that will be triggered by the issuance of the
Exchanged Warrant or the Exchanged Warrant Shares; and (vi) neither the Company nor any of its Subsidiaries have any liabilities or obligations required to be disclosed in the SEC Documents which are not so disclosed in the SEC Documents, other
than those incurred in the ordinary course of the Company’s or its Subsidiaries’ respective businesses and which, individually or in the aggregate, do not or could not have a Material Adverse Effect. 

  
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 5.9 FCPA. Neither the Company, the Company’s subsidiary or any director, officer,
agent, employee, nor any other person acting for or on behalf of the foregoing (individually and collectively, a “Company Affiliate”) have violated the U.S. Foreign Corrupt Practices Act or any other applicable anti-bribery or
anti-corruption laws, nor has any Company Affiliate offered, paid, promised to pay, or authorized the payment of any money, or offered, given, promised to give, or authorized the giving of anything of value, to any officer, employee or any other
person acting in an official capacity for any Government Entity, as defined below, to any political party or official thereof or to any candidate for political office (individually and collectively, a “Government Official”) or to
any person under circumstances where such Company Affiliate knew or was aware of a high probability that all or a portion of such money or thing of value would be offered, given or promised, directly or indirectly, to any Governmental Official, for
the purpose of: (a)(1) influencing any act or decision of such Government Official in his/her official capacity, (2) inducing such Government Official to do or omit to do any act in violation of his/her lawful duty, (3) securing any
improper advantage, or (4) inducing such Government Official to influence or affect any act or decision of any Government Entity, or (b) assisting the Company or its subsidiary in obtaining or retaining business for or with, or directing
business to, the Company or its subsidiary. “Government Entity” as used herein means any government or any department, agency or instrumentality thereof, including any entity or enterprise owned or controlled by a government, or a
public international organization. 
 5.10 Disclosure. The Company confirms that neither it nor any other Person acting on its behalf
has provided any of the Holders or their agents or counsel with any information that constitutes or could reasonably be expected to constitute material, non-public information concerning the Company or any of its Subsidiaries, other than the
existence of the transactions contemplated by this Agreement and the other Agreements. The Company understands and confirms that the Holder will rely on the foregoing representations in effecting transactions in securities of the Company. No event
or circumstance has occurred or information exists with respect to the Company or any of its Subsidiaries or its or their business, properties, liabilities, prospects, operations (including results thereof) or conditions (financial or otherwise),
which, under applicable law, rule or regulation, requires public disclosure at or before the date hereof or announcement by the Company but which has not been so publicly announced or disclosed. 

6. Holder’s Representations and Warranties. As a material inducement to the Company to enter into this Agreement and consummate
the Exchange, Holder represents, warrants and covenants with and to the Company as follows: 
 6.1 Ownership of Existing Warrant. The
Holder owns the Existing Warrant free and clear of any liens (other than the obligations pursuant to this Agreement and applicable securities laws). 

6.2 Reliance on Exemptions. The Holder understands that the Exchanged Warrant is being offered and exchanged in reliance on specific
exemptions from the registration requirements of United States federal and state securities laws and that the Company is relying in part upon the truth and accuracy of, and the Holder’s compliance with, the representations, warranties,
agreements, acknowledgments and understandings of the Holder set forth herein and 

  
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in the Exchange Documents in order to determine the availability of such exemptions and the eligibility of the Holder to acquire the Exchanged Warrant. 

6.3 No Governmental Review. The Holder understands that no United States federal or state agency or any other government or
governmental agency has passed on or made any recommendation or endorsement of the Securities or the fairness or suitability of the investment in the Exchanged Warrant nor have such authorities passed upon or endorsed the merits of the offering of
the Exchanged Warrant. 
 6.4 Authorization and Binding Obligation. The Holder has the requisite power and authority to enter into
and perform its obligations under this Agreement and each of the other Exchange Documents. The execution and delivery of the Exchange Documents by the Holder and the consummation by the Holder of the transactions contemplated hereby and thereby has
been duly authorized by the Holder’s Board of Directors and no further filing, consent, or authorization is required by the Holder, its Board of Directors or its stockholders. This Agreement and the other Exchange Documents have been duly
executed and delivered by the Holder and constitute the legal, valid and binding obligations of the Holder enforceable against the Holder in accordance with their respective terms, except as such enforceability may be limited by general principles
of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies. 

6.5 No Conflicts. The execution, delivery and performance by the Holder of this Agreement and the Exchange Documents to which the
Holder is a party, and the consummation by the Holder of the transactions contemplated hereby and thereby will not (i) result in a violation of the organizational documents of the Holder or (ii) conflict with, or constitute a default (or
an event which with notice or lapse of time or both would become a default) under, or give to others any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or instrument to which the Holder is a party, or
(iii) result in a violation of any law, rule, regulation, order, judgment or decree (including federal and state securities laws) applicable to the Holder, except in the case of clauses (ii) and (iii) above, for such conflicts,
defaults, rights or violations which would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on the ability of the Holder to perform its obligations hereunder. 

7. Covenants. 
 7.1
Reasonable Best Efforts. The Company shall use its reasonable best efforts to timely satisfy each of the conditions to be satisfied by it as provided in Section 9 of this Agreement. The Holder shall use its reasonable best efforts to
timely satisfy each of the conditions to be satisfied by it as provided in Section 8 of this Agreement. 
 7.2 Disclosure of
Transactions and Other Material Information. On or before 9:30 a.m., New York time, on the first (1st) Business Day following the date of this Agreement, the Company shall file a Current Report on Form 8-K describing all the material
terms of the transactions contemplated by the Exchange Documents in the form required by the 1934 Act and attaching all the material Exchange Documents (including, without limitation, this Agreement 

  
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(and all schedules to this Agreement), the form of the Exchanged Warrant) (including all attachments, the “8-K Filing”). From and after the issuance of the 8-K Filing, the
Company shall have disclosed all material, non-public information (if any) delivered to the Holder by the Company or any of its Subsidiaries, or any of their respective officers, directors, employees or agents in connection with the transactions
contemplated by the Exchange Documents. 
 7.3 Holding Period. For the purposes of Rule 144 (as it exists on the date hereof), the
Company acknowledges that the holding period of the Exchanged Warrant (and upon exercise of the Exchanged Warrant, the Exchanged Warrant Shares) may be tacked onto the holding period of the Existing Warrant and the Company agrees not to take a
position contrary to this Section 7.3 unless such rule is amended or the SEC issues contrary guidance relating to such position after the date hereof. The Company agrees to take all actions, including, without limitation, the issuance by its
legal counsel of any necessary legal opinions, necessary to issue the Exchanged Warrant Shares that are freely tradable on the Principal Market without restriction and not containing any restrictive legend without the need for any action by the
Holder and in connection therewith, on the Exchange Date, the Company shall cause its counsel to deliver an opinion letter to the Company’s Transfer Agent that the Exchanged Warrant Shares are eligible for resale by the Holder under Rule 144
(as it exists on the date hereof and assuming (i) the Company has filed all required reports under section 13 and 15(d) of the 1934 Act, as applicable, during the 12 months preceding such sale, other than Form 8-K reports and (ii) the
Holder is not an affiliate (as defined in Rule 144) of the Company). It is further agreed that such shares shall be issuable to the Holder through DTC without restricted legend in accordance with Section 5 of the Securities Purchase Agreement.
The Company agrees that this Agreement shall have no impact on the holding period of the Exchanged Note under Rule 144 (as it exists on the date hereof). 

8. Conditions to Company’s Obligations Hereunder. The obligations of the Company to the Holder hereunder are subject to the
satisfaction of each of the following conditions, provided that these conditions are for the Company’s sole benefit and may be waived by the Company at any time in its sole discretion by providing the Holder with prior written notice thereof:

 8.1 The Holder shall have duly executed this Agreement and delivered the same to the Company. 

8.2 The Holder shall have performed, satisfied and complied in all material respects with the covenants, agreements and conditions required by
this Agreement to be performed, satisfied or complied with by the Holder at or prior to the Exchange Date. 
 9. Conditions to
Holder’s Obligations Hereunder. The obligations of the Holder hereunder are subject to the satisfaction of each of the following conditions, provided that these conditions are for the Holder’s sole benefit and may be waived by the
Holder at any time in its sole discretion by providing the Company with prior written notice thereof: 
 9.1 The Company shall have duly
executed and delivered this Agreement to the Holder. 

  
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 9.2 The Company shall have duly executed and delivered to the Holder the Exchanged Warrant. 

10. Miscellaneous. 
 10.1
Miscellaneous Provisions. Section 9 of the Securities Purchase Agreement (as amended hereby) is hereby incorporated by reference herein, mutatis mutandis. 

[The remainder of the page is intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year first
above written. 
  

			
	 AMERICAN SUPERCONDUCTOR

    CORPORATION

		
	By:	 	 /s/ David A. Henry

		 	Name: David A. Henry
		 	 Title:   Senior Vice President and
  Chief Financial Officer

	
	HOLDER:
	
	 CAPITAL VENTURES INTERNATIONAL BY

    HEIGHTS CAPITAL MANAGEMENT ITS

    AUTHORIZED AGENT

		
	By:	 	 /s/ Martin Kobinger

		 	 Name: Martin Kobinger

		 	 Title:   Investment Manager

 [Amendment and Exchange Agreement] 

 EXHIBIT A 

FORM OF EXCHANGED WARRANT 

See Exhibit 4.1EX-10.34

 Exhibit 10.34 
 Description of Director Compensation Arrangements 
 Effective October 2013

 The compensation arrangements for the non-employee members of the Board of Directors of Diamond Foods, Inc. are as follows:

 One-time compensation upon a director becoming a member of the Board: 

 

	 	•	 	 Grant of restricted stock under our 2005 Equity Incentive Plan. The number of shares of restricted stock is equal to $120,000 divided by the closing
price of our stock on the date of grant. We retain the right to repurchase these shares for the nominal purchase price until they are vested. The restricted shares vest in three equal annual installments, commencing with the first anniversary of the
date of grant, provided the director remains in continuous service as a director through that date. Prior to vesting, the director is entitled to vote and receive dividends with respect to such shares, but not to transfer them. Each award will
become fully vested if we are acquired prior to or at the time of the director’s termination of service. 

  

	 	•	 	 Grant of an option to purchase $10,000 shares of our common stock, under our 2005 Equity Incentive Plan, at an exercise price per share equal to the
fair market value of our common stock on the date of grant. These automatic option grants have ten-year terms and will terminate six months following the date the director ceases to be one of our directors or consultants or 12 months following
that date, if the termination is due to death or disability. Each automatic grant of options vests and becomes exercisable in full on the anniversary of the date of grant, provided the director remains in continuous service as a director through
that date. In addition, each option award will become fully vested and exercisable if we are acquired prior to or at the time of the director’s termination of service. 

 Annual payments for each non-employee member of the Board: 
  

	 	•	 	 Retainer of $60,000. 

 Option to purchase 10,000 shares of Diamond Foods, Inc. common stock under the Diamond Foods, Inc. 2005 Equity Incentive Plan at the fair market value at the time of the award, to be granted on the
anniversary of each director’s Initial Option Grant. 
 Potential additional payments for Board and committee assignments:

  

	 	•	 	 Annual retainer of $145,000 for the Chairman of the Board 

 

	 	•	 	 Annual retainers of $18,000 for the Chairman of the Audit Committee and $8,000 for other Audit Committee members. 

 

	 	•	 	 Annual retainers of $12,000 for the Chairman of the Compensation Committee and $7,000 for other Compensation Committee members.

	 	•	 	 Annual retainers of $9,000 for the Chairman of the Nominating & Governance Committee and $4,000 for other Nominating & Governance
Committee members. 

  

	 	•	 	 Per meeting fee of $1,500 per Board meeting in the event a director attends more than seven meetings per year. 

 

	 	•	 	 Per meeting fee of $1,500 per Committee meeting in the event a director attends more than seven meetings of that Committee per year

 In addition to the foregoing, non-employee members of our Board of Directors are reimbursed for their
reasonable expenses in attending Board and Board committee meetings but receive no other fees for attending meetings. 
 In
September 2013, the Board of Directors approved a one-time payment to the members of the Audit Committee as compensation for their work during the restatement of fiscal 2010 and 2011 financial results. $10,000 was paid to each of Ed Blechschmidt,
Alison Davis and Nigel Rees. 

  
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