SEC Contract Filing

Filing Date: 2018-08-08

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>3
<FILENAME>apollo-nonxemployeedir.htm
<DESCRIPTION>EXHIBIT 10.5
<TEXT>
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<title>Document</title></head><body><div id="i_0_21"></div><div style="height:72pt;width:100%;"><div><font><br></font></div></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:115%;vertical-align:bottom;">APOLLO ENDOSURGERY, INC.</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:115%;vertical-align:bottom;">AMENDED NON-EMPLOYEE DIRECTOR COMPENSATION POLICY</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:115%;vertical-align:bottom;">ADOPTED&#58; MARCH 6, 2017 </font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:115%;vertical-align:bottom;">AMENDED&#58; MAY 25, 2017</font></div><div style="text-align:center;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:115%;vertical-align:bottom;">AMENDED&#58; MAY 23, 2018</font></div><div style="text-align:center;"><font><br></font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">Each membr of the Board of Directors (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-style:italic;font-weight:700;line-height:115%;vertical-align:bottom;">Board</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">&#8221;) of Apollo Endosurgery, Inc. (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-style:italic;font-weight:700;line-height:115%;vertical-align:bottom;">Company</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">&#8221;) who is a non-employee director of the Company (each such member, a &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-style:italic;font-weight:700;line-height:115%;vertical-align:bottom;">Non-Employee Director</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">&#8221;) and who is designated as an eligible participant (each such Non-Employee Director, an &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-style:italic;font-weight:700;line-height:115%;vertical-align:bottom;">Eligible Non-Employee Director</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">&#8221;) will receive the compensation described in this Non-Employee Director Compensation Policy (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-style:italic;font-weight:700;line-height:115%;vertical-align:bottom;">Director Compensation Policy</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">&#8221;) for his or her Board service.</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">The Director Compensation Policy became effective on March 6, 2017 (the &#8220;</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-style:italic;font-weight:700;line-height:115%;vertical-align:bottom;">Effective Date</font><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">&#8221;). The Director Compensation Policy may be amended at any time in the sole discretion of the Board or the Compensation Committee of the Board.</font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">An Eligible Non-Employee Director may decline all or any portion of his or her compensation by giving notice to the Company prior to the date cash is to be paid or equity awards are to be granted, as the case may be. </font></div><div><font><br></font></div><div><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;font-weight:700;line-height:115%;vertical-align:bottom;">Annual Cash Compensation</font></div><div><font><br></font></div><div style="text-indent:36pt;"><font style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:Times New Roman;font-size:12pt;line-height:115%;vertical-align:bottom;">Commencing at the beginning of the first calendar quarter following the Effective Date, each Eligible Non-Employee Director will receive the cash compensation set forth below for service on the Board. The annual cas