Effective as of October 20, 2020, the Board of Directors (the “Board”) of GI Dynamics, Inc. (the “Company”) increased the size of the Board to three members and elected Ginger Glaser to fill that newly-created vacancy and serve as a member of the Board and all committees thereof. Ms. Glaser will hold office until the 2020 Annual Meeting of Stockholders and thereafter until her successor is duly elected and qualified in accordance with the Company’s bylaws or her earlier resignation, removal or death. Ms. Glaser will be compensated for her service on the Board pursuant to the terms and conditions of a board member agreement (the “Board Member Agreement”). On October 21, 2020, the Company agreed to compensate Mark D. Lerdal for his services as a member of the Board and as the Chairperson of the Board, pursuant to the terms and conditions of a board member and chairperson agreement. On October 21, 2020, the Company also entered into a Consulting Agreement (the “Consulting Agreement”) with Ms. Glaser, pursuant to which Ms. Glaser agreed to provide certain consulting services (the “Services”) to the Company as directed by the Company’s Chief Executive Officer, Chief Operating Officer and Chairperson of the Board.