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The Board of Directors (“Board”) of SkyWater Technology, Inc. (the “Company”) has adopted this SkyWater Technology, Inc. Non-Employee Director Compensation Policy (the “Policy”) to assist the Compensation Committee of the Board (or its successor, the “Committee”) in establishing retainers, fees, and equity grants (and payment or award thereof, as applicable) associated with director compensation. Any new director compensation policies enacted from time to time are deemed to be incorporated herein upon their effective date. The Committee and/or the Board shall review and reassess this Policy from time to time to determine whether the Policy should be updated.


Annual Cash Retainer:	An annual retainer fee of USD $75,000 shall be payable in fiscal quarterly installments in advance following the annual meeting of Company’s stockholders at which directors are elected to serve on the Board (the “Annual Meeting”) to each director who becomes or remains a member of the Board following the conclusion of such Annual Meeting. An annual retainer fee of USD $100,000 shall be payable in fiscal quarterly installments in advance following the Annual Meeting to the Chairman of the Board then appointed. A director appointed to the Board other than pursuant to election at the Annual Meeting shall be entitled to pro-rated payment of the annual retainer fee for the partial year of service, payable in fiscal quarterly installments in advance beginning as of his or her commencement of service on the Board. A director must be actively serving as a director on the date of any such payment to receive his or her payment.
Committee Chairmanship Fee:	The corresponding annual chairmanship fee set forth below shall also be payable in fiscal quarterly installments in advance following the Annual Meeting to each director who becomes or remains the chairman of each of the following committees of the Board following the conclusion of such Annual Meeting for his or her chairmanship services. A director appointed to serve as chairman during a year and prior to an Annual Meeting shall be entitled to pro-rated payment of the annual chairmanship fee for the partial year of chairmanship service, payable in fiscal quarterly installments in advance beginning as of his or her commencement of service as chairman. The chairman must be actively serving as the chairman of the applicable committee on the date of any such payment to receive his or her payment.
	Audit Committee:	USD $20,000
	Compensation Committee:	USD $15,000
	Nominating and Corporate Governance Committee:	USD $10,000
	Risk Management Committee:	USD $10,000


Committee Membership Fee:	The corresponding annual committee fee set forth below shall also be payable in fiscal quarterly installments in advance following the Annual Meeting to each director who becomes or remains a member of the following committees of the Board (excluding the chairman) for his or her committee member services. A director appointed to serve on a committee during a year and prior to an Annual Meeting shall be entitled to pro-rated payment of the annual committee service fee for the partial year of committee service, payable in fiscal quarterly installments in advance upon his or her commencement of service as a committee member. The member must be actively serving as a member of the applicable committee on the date of any such payment to receive his or her payment.
	Audit Committee:	USD $10,000
	Compensation Committee:	USD $8,000
	Nominating and Corporate Governance Committee:	USD $5,000
	Risk Management Committee:	USD $5,000
Annual Equity Grant:	As of the date of each Annual Meeting, each director who remains a member of the Board following the conclusion of such Annual Meeting shall be granted restricted stock units relating to that number of shares of Stock having a value equal to $100,000 as of the grant date (but rounded down to the next integer of Stock in the case of a valuation that produces a fractional share), pursuant to the terms of the Company’s standard form of restricted stock unit agreement for directors, which restricted stock units shall vest in full on the date immediately preceding the date of the next occurring Annual Meeting, subject to the director’s continued, active service as a director on such vesting date. Each director appointed to the Board to constitute the initial Board following the closing of the Company’s initial public offering shall receive a pro-rated annual grant of restricted stock units in connection with the IPO, pursuant to the terms of the Company’s standard form of restricted stock unit agreement for directors, which restricted stock units shall vest in full on the date immediately preceding the date of the next occurring Annual Meeting, subject to the director’s continued, active service as a director on such vesting date. Each director appointed to the Board other than pursuant to election at the Annual Meeting may, at the discretion of the Board, receive a pro-rated annual grant of restricted stock units, pursuant to the terms of the Company’s standard form of restricted stock unit agreement for directors, which restricted stock units shall vest in full on the date immediately preceding the date of the next occurring Annual Meeting, subject to the director’s continued, active service as a director on such vesting date.