EVFM 2018 Proxy Statement

17 Summary Compensation Table The following table summarizes information concerning the compensation awarded to, earned by, or paid for services rendered in all capacities by our named executive officers and the principal executive officer and two most highly compensated officers of Evofem Operations during the years ended December 31, 2017 and 2016. As our management team transitions from operating a private company to operating a publicly traded company, our Compensation Committee will evaluate our compensation practices, philosophy and arrangements to ensure alignment with our structure and the roles of the executives as they relate to managing and oversight of a public company. The compensation described in this table does not include medical or other benefits that are available generally to all our salaried employees: Name and Principal Position Year Ended December 31, Salary ($) Bonus ($) Option Awards (1)(2) ($) All Other Compensation ($) Total ($) Susan A. Knudson 2017 317,000 190,200 130,102 (3) 1,010 (4) 638,312 Former Chief Financial Officer 2016 281,197 59,052 19,170 (5) 1,010 (4) 360,429 Maria Feldman 2017 273,980 136,995 197,794 (6) 539 (7) 609,308 Former Vice President, Clinical Research, Operations, Regulatory and Quality 2016 243,000 46,550 10,650 (8) 539 (7) 300,739 Saundra Pelletier 2017 731,364 922,700 — 810 (9) 1,654,874 Chief Executive Officer 2016 588,527 201,562 1,477,691 (10) 1,621 (9) 2,269,401 Justin J. File 2017 562,373 306,750 — 810 (11) 869,933 Chief Financial Officer 2016 478,113 163,281 822,510 (12) 1,185 (11) 1,465,089 Kelly Culwell, M.D. 2017 428,650 123,600 — 540 (13) 552,790 Chief Medical Officer 2016 425,275 90,000 274,170 (14) 675 (13) 790,120 (1) Amounts listed in this column for Ms. Knudson and Ms. Feldman represent the aggregate fair value of the option awards computed as of the grant date of each option award in accordance with Financial Accounting Standards Board Accounting Standards Codification No. 718, Compensation-Stock Compensation, or FASB ASC Topic 718, rather than amounts paid to or realized by the named individual. There can be no assurance that options will be exercised (in which case no value will be realized by the individual) or that the value on exercise will approximate the fair value as computed in accordance with FASB ASC Topic 718. The assumptions used in the valuation of these awards are set forth in Note 6 to our financial statements for the year ended December 31, 2017, which are included in our Annual Report on Form 10-K and incorporated herein by reference. (2) Amounts listed in this column for Ms. Pelletier, Mr. File and Dr. Culwell represent the aggregate fair value of Evofem Operations option awards computed as of the grant date of each option award in accordance with FASB ASC Topic 718, rather than amounts paid to or realized by the named individual. The fair value of the stock-based payments for these awards was estimated on the date of grant using the Black-Scholes-Merton option-pricing model based on the following weighted-average assumptions for the year ended December 31, 2016: Expected volatility....................................................................................................... 89.2% Risk-free interest rate................................................................................................... 1.3% Expected dividend yield............................................................................................... 0.0% Expected term (years) .................................................................................................. 5.6 There can be no assurance that options will be exercised (in which case no value will be realized by the individual) or that the value on exercise will approximate the fair value as computed in accordance with FASB ASC Topic 718. (3) In March 2017, Ms. Knudson received options to purchase up to 16,666 shares of the Company’s common stock with a performance-based vesting schedule, all of which were vested by December 31, 2017. In June 2017, Ms. Knudson received options to purchase up to 10,832 shares of the Company’s common stock with a two-year vesting schedule.