Document:

EX-10.14

 Exhibit 10.14 

FIGS, INC. 
 NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM 
 Eligible Directors (as defined below) on the board of
directors (the “Board”) of FIGS, Inc. (the “Company”) shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director
Compensation Program (this “Program”). The cash and equity compensation described in this Program shall be paid or be made, as applicable, automatically as set forth herein and without further action of the Board, to each
member of the Board who is not an employee of the Company or any of its parents or subsidiaries and who is determined by the Board to be eligible to receive compensation under this Program (each, an “Eligible Director”), who
may be eligible to receive such cash or equity compensation, unless such Eligible Director declines the receipt of such cash or equity compensation by written notice to the Company. 

This Program shall become effective upon the closing of the initial public offering of the Company’s common stock (the
“Effective Date”) and shall remain in effect until it is revised or rescinded by further action of the Board. This Program may be amended, modified or terminated by the Board at any time in its sole discretion. No Eligible
Director shall have any rights hereunder, except with respect to equity awards granted pursuant to Section 2 of this Program. 
 1.
Cash Compensation. 
 a. Annual Retainers. Each Eligible Director shall be eligible to receive an annual cash retainer of
$50,000 for service on the Board. 
 b. Additional Annual Retainers. An Eligible Director shall be eligible to receive the following
additional annual retainers, as applicable: 
 (i) Audit Committee. An Eligible Director serving as Chairperson of the Audit
Committee shall be eligible to receive an additional annual retainer of $20,000 for such service. An Eligible Director serving as a member of the Audit Committee (other than the Chairperson) shall be eligible to receive an additional annual retainer
of $10,000 for such service. 
 (ii) Compensation Committee. An Eligible Director serving as Chairperson of the Compensation
Committee shall be eligible to receive an additional annual retainer of $15,000 for such service. An Eligible Director serving as a member of the Compensation Committee (other than the Chairperson) shall be eligible to receive an additional annual
retainer of $7,500 for such service. 
 (iii) Nominating and Corporate Governance Committee. An Eligible Director serving as
Chairperson of the Nominating and Corporate Governance Committee shall be eligible to receive an additional annual retainer of $10,000 for such service. An Eligible Director serving as a member of the Nominating and Corporate Governance Committee
(other than the Chairperson) shall be eligible to receive an additional annual retainer of $5,000 for such service. 
 c. Payment of
Retainers. The annual cash 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 30 days following the end of each calendar
quarter. In the event an Eligible Director does not serve as a director, or in the applicable positions described in Section 1(b), for an entire calendar quarter, the retainer paid to such Eligible Director shall be prorated for the portion of
such calendar quarter actually served as a director, or in such position, as applicable. 

  
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 2. Equity Compensation. 

a. General. Eligible 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 Company’s 2021 Equity Incentive Plan or any other applicable Company equity incentive plan then-maintained by the Company (such plan, as may be amended from time to time, the
“Equity Plan”) and may be granted subject to the execution and delivery of award agreements, including attached exhibits, in substantially the forms approved by the Board prior to or in connection with such grants. All
applicable terms of the Equity Plan apply to this Program as if fully set forth herein, and all grants of equity awards hereby are subject in all respects to the terms of the Equity Plan. Capitalized terms not otherwise defined herein shall have the
meanings ascribed to them in the Equity Plan. 
 b. Initial Awards. Each Eligible Director who is initially elected or appointed to
serve on the Board after the Effective Date automatically shall be granted a Restricted Stock Unit award (each, an “Initial Award”). The number of Restricted Stock Units subject to an Initial Award will be determined by
dividing the Pro-Rated Value by the closing price for the Company’s common stock on the applicable grant date. Each Initial Award shall be granted on the date on which such Eligible Director is appointed
or elected to serve on the Board (the “Election Date”), and shall vest in full on the earlier to occur of (x) the one-year anniversary of the applicable grant date and (y) the
date of the next Annual Meeting (as defined below) following the grant date, subject to continued service through the applicable vesting date. The “Pro-Rated Value” shall equal
$150,000, multiplied by a fraction, (i) the numerator of which is the difference between 365 and the number of days from the immediately preceding Annual Meeting date (or the Effective Date, if there is no preceding Annual Meeting date) through
the appointment or election date and (ii) the denominator of which is 365. 
 c. Annual Awards. An Eligible Director who is
serving on the Board as of the date of the annual meeting of the Company’s stockholders (the “Annual Meeting”) each calendar year beginning with calendar year 2022 shall be granted a Restricted Stock Unit award with a
value of $150,000 (an “Annual Award”, together with the Initial Award, the “Director Award”). The number of Restricted Stock Units subject to an Annual Award will be determined by dividing the value by
the closing price for the Company’s common stock on the applicable grant date. Each Annual Award shall vest in full on the earlier to occur of (x) the one-year anniversary of the applicable grant
date and (y) the date of the next Annual Meeting following the grant date, subject to continued service through the applicable vesting date. 

d. Accelerated Vesting Events. Notwithstanding the foregoing, an Eligible Director’s Director Award(s) shall vest in full
immediately prior to the occurrence of a Change in Control, to the extent outstanding at such time, if the Eligible Director will not become, as of immediately following such Change in Control, a member of the board of the Company or the ultimate
parent of the Company. 
 3. Compensation Limits. Notwithstanding anything to the contrary in this Program, all compensation payable
under this Program will be subject to any limits on the maximum amount of non-employee Director compensation set forth in the Equity Plan, as in effect from time to time. 

***** 

  
 2EX-10.15

 Exhibit 10.15 

FIGS, INC. 

February 22, 2018 
 Heather Hasson 

 

	RE:	 Cash Sale Bonus Letter Agreement 

Dear Heather, 
 On behalf of Figs, Inc. (the
“Company”), I am pleased to offer you the opportunity to earn a bonus payable on a Qualifying Cash Sale (as defined below), as described in this letter agreement (the “Letter Agreement”). 

Upon the occurrence of a Qualifying Cash Sale, you will be eligible to earn a transaction bonus in the amount of $1,500,000 less applicable tax
withholdings and deductions (the “Bonus Payment”). Notwithstanding the foregoing, a transaction will not be deemed a Qualifying Cash Sale unless the transaction qualifies as a change in control event within the meaning of
Section 409A of the Internal Revenue Code of 1986, as it has been and may be amended from time to time, and any proposed or final Treasury Regulations and Internal Revenue Service guidance that has been promulgated or may be promulgated
thereunder from time to time. “Qualifying Cash Sale” for purposes of this Letter Agreement shall mean a sale of the Company (whether by merger, stock sale, sale of assets or otherwise and whether in a single transaction or series of
related transactions) in which the implied equity valuation of the Company is equal to or greater than $400 million and either: (1) the cash consideration actually received by the stockholders of the Company (including pursuant to any
escrow or holdback, but not pursuant to any earn-out, and net of transaction expenses) is equal to or greater than $400 million; or (2) (i) the cash consideration actually received by the stockholders of the Company (including pursuant to any
escrow or holdback, but not pursuant to any earn-out, and net of transaction expenses) is equal to or greater than $300 million and (ii) any publicly traded equity securities (excluding any coin-based securities) actually received by the
stockholders of the Company (including pursuant to any escrow or holdback, but not pursuant to any earn-out, and net of transaction expenses) is equal to or greater than the amount that is $400 million minus the amount of cash consideration
actually received by the stockholders of the Company pursuant to clause (2)(i) above. 
 In order to be eligible for the Bonus Payment, you must sign, date
and return this Letter Agreement to the Company. If earned, the Bonus Payment will be paid to you in a lump sum amount, less required payroll withholdings and deductions, within ten (10) days following the Qualifying Cash Sale. The Bonus
Payment will be in addition to any other amounts you may be entitled to receive in connection with a Qualifying Cash Sale under any other agreement. For the avoidance of doubt, you do not have to be an employee of, or service provider to, the
Company on the date of the Qualifying Cash Sale in order to receive the Bonus Payment. 
 This Letter Agreement shall terminate upon a Qualifying Cash Sale.
This Letter Agreement represents the entire agreement between you and the Company with respect to a bonus arrangement in connection with a sale of the Company and it supersedes any other promises, warranties or representations with respect to such
an arrangement. Additionally, as before, your employment relationship with the Company remains subject to that certain Employment Agreement, dated as of October 20, 2017, by and between you and the Company. This Letter Agreement will be governed by
California law. This letter agreement is intended to fit within an exemption from, or comply with, Section 409A, and will be so interpreted. The Letter Agreement may only be amended or terminated in a written agreement signed by you and a duly
authorized officer of the Company (specifically authorized by unanimous action by the Company’s Board of Directors), and will bind the heirs, personal representatives, successors and assigns of you and the Company, and inure to the benefit of
you, the Company, their heirs, successors and assigns. 

  
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	Very truly yours,
	
	Figs, Inc.
		
	By:	 	 /s/ Catherine Spear

		 	Catherine Spear, President

  
 Signature Page to Cash
Sale Bonus Letter 

			
	AGREED AND ACCEPTED:
	
	 /s/ Heather Hasson

	Heather Hasson
		
	Date:	 	February 22, 2018   |   1:30 PM PST

  
 Signature Page to Cash
Sale Bonus Letter

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