Document:

cers-ex101_169.htm

Exhibit 10.1

2019 and 2020 Executive Officer Compensation Arrangements

The compensation for the executive officers of Cerus Corporation regarding annual base salaries and target bonus percentages were as follows:

 

					
	
Name
	
2019
Annual Base
Salary as of

March 1
	
2019
Targeted Bonus
(paid in 2020)
	
2020
Annual Base
Salary as of

March 1
	
2020
Targeted Bonus
(to be paid in

2021)

	
William M. Greenman

President and Chief Executive Officer
	
$650,000
	
65%
	
$675,000
	
65%

	
Kevin D. Green

VP, Finance and Chief Financial Officer
	
$409,336
	
45%
	
$429,803
	
45%

	
Richard J. Benjamin 

Chief Medical Officer
	
$429,698
	
45%
	
$444,737
	
45%

	
Laurence M. Corash, M.D.

Chief Scientific Officer
	
$441,537
	
45%
	
$445,953
	
45%

	
Vivek Jayaraman

Chief Operating Officer
	
$434,805
	
50%
	
$478,286
	
50%

	
Chrystal N. Menard

Chief Legal Officer and General Counsel
	
$402,436
	
45%
	
$416,522
	
45%

	
Carol Moore

Senior Vice President, Regulatory Affairs and Quality 
	
$367,427
	
45%
	
$380,287
	
45%cers-ex102_170.htm

Exhibit 10.2

 

Cerus Corporation

Amended and Restated Non-Employee Director Compensation Policy

Effective: January 1, 2012

Amended by Compensation Committee: February 13, 2014

Approved by Board of Directors: February 14, 2014

Amended by Board of Directors: April 19, 2017 

Amended by Board of Directors: March 2, 2018

Amended by Board of Directors: March 27, 2020

 

 

Each member of the Board of Directors (the “Board”) of Cerus Corporation (“Cerus”) who is not also serving as an employee of Cerus or any of its affiliates (each such member, a “Director”) will receive the compensation set forth in this Cerus Corporation Amended and Restated Non-Employee Director Compensation Policy (this “Policy”) for his or her Board service, as applicable.

Annual Cash Compensation

The annual cash compensation set forth below is payable to each Director, as applicable, in equal quarterly installments, payable in advance during the first 30 days of each quarter in which the service will occur.  If a Director joins the Board, or becomes Chairman of the Board or a Chairman or other member of any of the committees of the Board set forth below, in each case at a time other than effective as of the first day of the calendar year, each applicable element of the annual cash compensation set forth below will be pro-rated based on days served in the applicable calendar year, with the pro-rated amount paid for the first quarter in which the Director provides the service (payable not later than 30 days after the Director commences such service), and regular full quarterly amounts paid thereafter.  The annual cash compensation is vested upon payment.

	
1.
	
Annual Cash Retainer:

a.Chairman of the Board: $67,500

b.All other Directors: $45,000

	
2.
	
Committee Chair Service Fee:

a.Chairman of the Audit Committee: $26,000

b.Chairman of the Compensation Committee: $15,000

c.Chairman of the Nominating and Corporate Governance Committee: $10,000

	
3.
	
Committee Member (non-Chair) Service Fee:

a.Audit Committee: $13,000

b.Compensation Committee: $8,000

1.

c.Nominating and Corporate Governance Committee: $6,000

Equity Compensation

The equity compensation set forth below will be granted under the Cerus Corporation Amended and Restated 2008 Equity Incentive Plan (the “Plan”).  All stock options granted pursuant to this Policy will be non-statutory stock options, with an exercise price per share equal to 100% of the “Fair Market Value” (as defined in the Plan) of the underlying Cerus common stock on the date of grant, and a term of not more than ten (10) years from the date of grant.  All equity awards granted pursuant to this Policy will be made automatically in accordance with the terms of this Policy and the Plan, without the need for any additional corporate action by the Board or the Compensation Committee of the Board.  All equity awards granted pursuant to this Policy will become fully vested immediately prior to a “Change in Control” (as defined in the Plan), subject to the Director’s “Continuous Service” (as defined in the Plan) through such time.

	
1.
	
Annual Grant, Non-Chair: On the date of each of Cerus’ Annual Meetings of Stockholders (each, an “Annual Meeting”), each Director, other than the Chairman of the Board, will be granted the following equity awards, provided that such individual: (i) is a Director on such date, (ii) has been a member of the Board for at least twelve (12) months prior to the date of the applicable Annual Meeting and (iii) will be continuing as a Director immediately following such date:

(a) a stock option for the number of shares of Cerus common stock equal to (i) $75,000, divided by (ii) the Black-Scholes value of a stock option share, determined using the average daily closing sales price per share of Cerus common stock for the thirty (30) market trading days immediately prior to the grant date (the “Average 30-Day Price”), with the resulting number rounded down to the nearest whole share, with such stock option vesting on the later of (x) the first anniversary of the date of grant or (y) the day prior to the next Annual Meeting, subject to the Director’s Continuous Service through the applicable vesting date; and

(b) a restricted stock unit award (“RSU”) for the number of shares of Cerus common stock equal to (i) $75,000, divided by (ii) the Average 30-Day Price, with the resulting number rounded down to the nearest whole share, with 100% of the shares subject to such RSU vesting on the later of (x) the first anniversary of the date of grant or (y) the day prior to the next Annual Meeting, subject to the Director’s Continuous Service through the applicable vesting date.

	
2.
	
Annual Grant, Chair: On the date of each Annual Meeting, the Chairman of the Board will be granted the following equity awards, provided that such individual: (i) is a Director and the Chairman of the Board on such date, (ii) has been a member of the Board for at least twelve (12) months prior to the date of the applicable Annual Meeting and (iii) will be continuing as a Director and the Chairman of the Board immediately following such date: 

(a) a stock option for the number of shares of Cerus common stock equal to (i) $90,500, divided by (ii) the Black-Scholes value of a stock option share, determined using the Average 30-Day Price, with the resulting number rounded down to the nearest whole share, with such stock option vesting on the later of (x) the first anniversary of the date of grant or (y) the day 

2.

prior to the next Annual Meeting, subject to the Director’s Continuous Service through the applicable vesting date; and

(b) an RSU for the number of shares of Cerus common stock equal to (i) $90,500, divided by (ii) the Average 30-Day Price, with the resulting number rounded down to the nearest whole share, with 100% of the shares subject to such RSU vesting on the later of (x) the first anniversary of the date of grant or (y) the day prior to the next Annual Meeting, subject to the Director’s Continuous Service through the applicable vesting date.

	
3.
	
Initial Grant. On the date of the Director’s initial election to the Board (or, if such date is not a market trading day, the first market trading day thereafter), the Director will be granted the following equity awards:

(a) a stock option for the number of shares of Cerus common stock equal to (i) $112,500, divided by (ii) the Black-Scholes value of a stock option share, determined using the average daily closing sales price per share of Cerus common stock for the thirty (30) market trading days immediately prior to the grant date (the “Average 30-Day Price”), with the resulting number rounded down to the nearest whole share, with such stock option vesting in three (3) equal annual installments following the date of grant, subject to the Director’s Continuous Service through the applicable vesting date; and

(b) a restricted stock unit award (“RSU”) for the number of shares of Cerus common stock equal to (i) $112,500, divided by (ii) the Average 30-Day Price, with the resulting number rounded down to the nearest whole share, with such RSU vesting in three (3) annual installments following the date of grant, subject to the Director’s Continuous Service through the applicable vesting date, subject to the Director’s Continuous Service through the applicable vesting date.

 

3.cers-ex103_76.htm

[***] = CERTAIN PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED BECAUSE THE OMITTED PORTIONS ARE BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED.

Exhibit 10.3_

 

 

14 January 2020

 

Via Electronic Mail

Fresenius Kabi Deutschland GmbH

Else-Kröner-Straße 1 

61352 Bad Homburg 

Attention: Dr. Christian Hauer 

 

Re:  Side Letter to Supply Agreement

 

Dear Mr. Hauer:

 

Reference is made to the Amended and Restated Manufacturing and Supply Agreement between Fresenius Kabi Deutschland GmbH (“Fresenius Kabi”) and Cerus Corporation (“Cerus”), effective July 1, 2015, as amended from time to time (the “Agreement”). Capitalized terms used but not otherwise defined in this side letter agreement (the “Letter Agreement”) shall have the meanings ascribed to them in the Agreement.

 

This Letter Agreement sets forth the understanding between Cerus and Fresenius regarding additional terms and conditions relating to the payment terms for production volumes from December 2019 through June 30, 2020 (the “Letter Term”).  

 

The parties hereby acknowledge and agree that, during the Letter Term, Cerus will pay for production volumes in excess of any firm purchase order set forth in the rolling forecast described in Section 2.4 of the Agreement (the “Excess Production Volume”) up to [***] within [***] after the date of Fresenius Kabi’s invoice related to the applicable Manufactured Product. The payment terms for Excess Production Volume above [***] shall be [***]; provided however, that during the Letter Term, Fresenius Kabi shall not [***] without Cerus’ prior written consent.

 

For the avoidance of doubt, this Letter Agreement and the Agreement constitute the entire agreement between Cerus and Fresenius Kabi with respect to the subject matter described herein. Except as otherwise set forth herein, the terms of the Agreement shall continue in full force and effect after the date hereof.  

 

Please indicate your acceptance of the terms and provisions of this Letter Agreement by signing below and returning the signed copy to my attention. This Letter Agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same instrument.

 

 

Best Regards,

 

CERUS CORPORATION

 

 

By: /s/ William M. Greenman

Name: William M. Greenman

Title:  Chief Executive Officer and President

 

By: /s/ Kevin D. Green

Name: Kevin D. Green

Title: Chief Financial Officer and Vice President, Finance

 

 

 

 

ACKNOWLEDGED AND AGREED:

 

FRESNIUS KABI DEUTSCHLAND GmbH

 

 

By: /s/ Christian Hauer 

Name: Christian Hauer

Title:   President, Transfusion Medicine & Cell Therapies Division

 

 

By:  /s/ Dirk Roehner

Name: Dirk Roehner

Title: Chief Financial Officer, Transfusion Medicine & Cell Therapies Division

 

 

 

 

 

cc:Chrystal Menard, Chief Legal Officer and General Counsel, Cerus Corporation

	

	
Marcel Kirsch, Director Finance & Controlling, Global Operations Disposables – Transfusion Medicine & Cell Therapies Division

Scott Day, Vice President and Chief IP Counsel, Transfusion Medicine & Cell Therapies Division

 

 

 

 

 

 

 

Cerus Corporation1220 Concord Avenue, Concord, CA US 94520T 925 288 6000F 925 288 6001cerus.com

 

[***] = CERTAIN PORTIONS OF THIS AGREEMENT HAVE BEEN OMITTED BECAUSE THE OMITTED PORTIONS ARE BOTH NOT MATERIAL AND WOULD LIKELY CAUSE COMPETITIVE HARM IF PUBLICLY DISCLOSED.

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