SEC Contract Filing

Filing Date: 2017-03-02

Document Content:
<DOCUMENT>
<TYPE>EX-10.6
<SEQUENCE>2
<FILENAME>ondk-12311610xkexhibit106.htm
<DESCRIPTION>EXHIBIT 10.6
<TEXT>
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<div><a name="s32F2D6B4545C52BA89E0F30D35EA1445"></a></div><div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Exhibit 10.6</font></div><div style="line-height:120%;text-align:right;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;"><br></font></div></div><div><br></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">ON DECK CAPITAL, INC.</font></div><div style="line-height:120%;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;">OUTSIDE DIRECTOR COMPENSATION POLICY</font></div><div style="line-height:120%;padding-top:8px;text-align:center;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">(Adopted October 29, 2014, as amended through July 29, 2016)</font></div><div style="line-height:120%;padding-top:8px;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br></font></div><div style="line-height:120%;padding-top:8px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">On Deck Capital, Inc. (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Company</font><font style="font-family:inherit;font-size:12pt;">&#8221;)&#160;believes that the granting of equity and cash compensation to its members of the Board of Directors (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Board</font><font style="font-family:inherit;font-size:12pt;">,&#8221; and members of the Board, the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Directors</font><font style="font-family:inherit;font-size:12pt;">&#8221;)&#160;represents an effective tool to attract, retain and reward Directors who are not employees of the Company (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Outside Directors</font><font style="font-family:inherit;font-size:12pt;">&#8221;). This Outside Director Compensation Policy (this &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Policy</font><font style="font-family:inherit;font-size:12pt;">&#8221;)&#160;is intended to formalize the Company&#8217;s policy regarding cash compensation and grants of equity to its Outside Directors. Unless otherwise defined herein, capitalized terms used in this Policy will have the meaning given such term in the Company&#8217;s 2014 Equity Incentive Plan (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Plan</font><font style="font-family:inherit;font-size:12pt;">&#8221;). Each Outside Director will be solely responsible for any tax obligations incurred by such Outside Director as a result of the equity and cash payments such Outside Director receives under this Policy.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;">This Policy was initially effective as of December 16, 2014, the effective date of the registration statement in connection with the initial public offering of the Company&#8217;s common stock securities (the &#8220;</font><font style="font-family:inherit;font-size:12pt;font-weight:bold;">Effective Date</font><font style="font-family:inherit;font-size:12pt;">&#8221;).</font></div><table cellpadding="0" cellspacing="0" style="font-family:Times New Roman; font-size:10pt;"><tr><td style="width:48px;"></td><td></td></tr><tr><td style="vertical-align:top"><div style="line-height:120%;font-size:12pt;padding-left:24px;"><font style="font-family:inherit;font-size:10pt;">1.</font></div></td><td style="vertical-align:top;"><div style="line-height:120%;text-align:left;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-weight:bold;text-decoration:underline;">Cash Retainers</font></div></td></tr></table><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">No Outside Director will receive per meeting attendance for attending Board or meetings of committees of the Board. Outside directors will receive the following annual cash retainers as applicable. All such annual cash retainers will be paid quarterly in arrears on a prorated basis.</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Annual Cash Retainer</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">Each Outside Director will be paid an annual cash retainer of $40,000. </font></div><div style="line-height:120%;padding-top:16px;text-align:justify;font-size:12pt;"><font style="font-family:inherit;font-size:12pt;font-style:italic;">Committee Chair and Committee Member Annual Cash Retainer</font></div><div style="line-height:120%;padding-top:16px;text-align:justify;text-indent:48px;font-size:12pt;"><font style="font-family:inherit;font-size:10pt;"></font><font style="font-family:inherit;font-size:12pt;">Each Outside Director who serves as chairperson of a committee of the Board or as a member of a committee of the Board will be paid additional annual