SEC Contract Filing

Filing Date: 2015-08-11

Document Content:
<DOCUMENT>
<TYPE>EX-10.5
<SEQUENCE>3
<FILENAME>prtk-ex105_424.htm
<DESCRIPTION>EX-10.5
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 10.5 </p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Amended and Restated Non-Employee Director Cash Compensation Policy</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:11pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:11pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Effective as of January 1, 2015</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;text-indent:0%;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;text-indent:5.24%;color:#;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Paratek Pharmaceuticals, Inc., a Delaware corporation (the &#8220;<font style="font-weight:bold;font-style:italic;">Company</font>&#8221;), has established the following cash compensation policy for non-employee members of the board of directors of the Company (the &#8220;<font style="font-weight:bold;font-style:italic;">Board</font>&#8221;):</p>
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<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;color:#;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.</p></td>
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<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">&nbsp;&nbsp;<font style="font-weight:bold;">All Non-Employee Directors</font>. Each non-employee director will receive annual cash compensation in an amount equal to $40,000, accruing and payable on a quarterly basis at the end of each calendar quarter of service, as an annual retainer for his or her Board service.</p></td></tr></table></div>
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<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;color:#;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">2.</p></td>
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<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">&nbsp;&nbsp;<font style="font-weight:bold;">Audit Committee Chair/Member</font>. In addition to the compensation provided under any other provision of this policy, the chairperson of the Audit Committee will receive annual cash compensation in an amount equal to $15,000 and each other member of the Audit Committee will receive annual cash compensation in an amount equal to $7,500, accruing and payable on a quarterly basis at the end of each calendar quarter of service, as an annual retainer for his or her service as chairperson or member, as applicable, of the Audit Committee. Payments shall be prorated from the commencement of a director&#8217;s service.</p></td></tr></table></div>
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<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;color:#;font-size:11pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">3.</p></td>
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<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:9pt;color:#;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:11pt;">&nbsp;&nbsp;<font style="font-weight:bold;">Compensation Committee Chair/Member</font>. In addition to the compensation provided under any other provision of this policy, the chairperson of the Compensation Committee will receive annual cash compensation in an amount equal to $10,000 and each other member of the Compensation Committee will receive annual cash compensation in an amount equal to $5,000, accruing and payable on a quarterly basis at the end of each calendar quarter of service, as an annual retainer for his or her service as chairperson or member, as applicable, of the Compensation Committee.</p></td></tr></table></div>
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