SEC Contract Filing

Filing Date: 2022-02-24

Document Content:
<DOCUMENT>
<TYPE>EX-10.23
<SEQUENCE>5
<FILENAME>gbio-20211231xex10d23.htm
<DESCRIPTION>EX-10.23
<TEXT>
<!--Enhanced HTML document created with Toppan Merrill Bridge 9.11.0.85--><!--Created on: 2/24/2022 06:26:03 PM (UTC)--><!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN" "http://www.w3.org/TR/html4/loose.dtd"><html><head><meta charset="UTF-8"><title></title></head><body><div style="margin-top:30pt;"></div><div style="max-width:100%;padding-left:11.76%;padding-right:11.76%;position:relative;"><div style="margin-top:30pt;min-height:36pt;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:right;margin:0pt;"><b style="font-weight:bold;">Exhibit 10.23</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p></div><div style="clear:both;max-width:100%;position:relative;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><u style="text-decoration:underline;text-decoration-color:#000000;">GENERATION BIO CO.</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt 0pt 12pt 0pt;"><u style="text-decoration:underline;text-decoration-color:#000000;">Non-Employee Director Compensation Program</u></p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:justify;margin:0pt;">Under Generation Bio Co.&#8217;s (the &#8220;Company&#8221;) non-employee director compensation program, the Company pays its non-employee directors an annual fee. Each non-employee director receives an annual fee for service on the Company&#8217;s board of directors (the &#8220;Board&#8221;) and for service on each committee on which the director is a member, as well as additional fees for service as chairman of the Board or chairman of each committee. These fees are payable in arrears in four equal quarterly installments on the last day of each quarter, provided that the amount of such payment shall be prorated for any portion of such quarter that the director was not serving on the Board, and are as follows:</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;"><font style="visibility:hidden;">&#8203;</font></p><div><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;" align="center"><tr><td style="vertical-align:top;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"></td><td style="vertical-align:top;width:33.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Member Annual Fee</p></td><td style="vertical-align:top;width:33.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Chairman Additional Annual</p><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;text-align:center;margin:0pt;">Fee</p></td></tr><tr><td style="vertical-align:top;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">Board of Directors</p></td><td style="vertical-align:top;width:33.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">$40,000</p></td><td style="vertical-align:top;width:33.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">$30,000</p></td></tr><tr><td style="vertical-align:top;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">Audit Committee</p></td><td style="vertical-align:top;width:33.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">$7,500</p></td><td style="vertical-align:top;width:33.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">$7,500</p></td></tr><tr><td style="vertical-align:top;width:33.32%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:12pt;margin:0pt;">Talent Committee</p></td><td style="vertical-align:top;width:33.33%;border-bottom:1px solid #000000;border-left:1px solid #000000;border-right:1px solid #000000;border-top:1px solid #000000;margin:0pt;padding:0.4pt 0.02pt 0.4pt 0.02pt;"><p style="font-family:'Times New R