SEC Contract Filing

Filing Date: 2024-03-14

Document Content:
<DOCUMENT>
<TYPE>EX-10.21
<SEQUENCE>3
<FILENAME>akbaex1021thirdamendedandr.htm
<DESCRIPTION>EX-10.21
<TEXT>
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<title>Document</title></head><body><div id="i9116f7475b0349bfb2759905c96016ce_1"></div><div style="min-height:72pt;width:100%"><div style="margin-bottom:8pt;padding-left:396pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:125%">Exhibit 10.21</font></div></div><div style="margin-top:6pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">AKEBIA THERAPEUTICS, INC.</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">THIRD AMENDED AND RESTATED NON-EMPLOYEE</font></div><div style="text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">DIRECTOR COMPENSATION PROGRAM</font></div><div style="margin-top:12pt;text-align:center"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:700;line-height:100%">Effective January 1, 2024</font></div><div style="margin-top:12pt;text-align:justify;text-indent:47.05pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">Non-employee members of the Board of Directors (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">Board</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;) of Akebia Therapeutics, Inc. (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">Company</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;) shall be eligible to receive cash and equity compensation as set forth in this Third Amended and Restated Non-Employee Director Compensation Program (this &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">Program</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;).&#160;&#160;The cash and equity compensation described in this Program shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of the Company or any parent or subsidiary of the Company (each, a &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">Non-Employee Director</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;) who is eligible to receive such cash or equity compensation, unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company.&#160;&#160;This Program shall remain in effect&#160;until it is revised or rescinded by further action of the Board.&#160;&#160;This Program shall be reviewed by the Board periodically and may be amended, modified or terminated by the Board at any time in its sole discretion and nothing herein should be construed as a guarantee to any Non-Employee Director of any particular level of cash or equity compensation.&#160;The terms and conditions of this Program shall supersede any prior cash and&#47;or equity compensation arrangements for service as a member of the Board between the Company and any of its Non-Employee Directors.&#160;&#160;This Program shall become effective on the date set forth above (the &#8220;</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-style:italic;font-weight:700;line-height:100%">Effective Date</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">&#8221;).</font></div><div style="margin-top:12pt;text-align:justify;text-indent:47.05pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">1. </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Cash Compensation</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">.&#160;&#160;</font></div><div style="margin-top:12pt;text-align:justify;text-indent:94.15pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(a) </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Annual Retainers</font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">.&#160;&#160;Each Non-Employee Director shall be eligible to receive an annual retainer of $50,000 for service on the Board, effective as of January 1, 2024.&#160;&#160;</font></div><div style="margin-top:12pt;text-align:justify;text-indent:94.15pt"><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%">(b) </font><font style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:12pt;font-weight:400;line-height:100%;text-decoration:underline">Additional Annual Retainers</font><font style="color:#000000;font-family:'Times New Roman',sans-se