AMAG PHARMACEUTICALS, INC. Non-Employee Director Compensation Plan

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Exhibit 10.12

AMAG PHARMACEUTICALS, INC.

Non-Employee Director Compensation Plan*

        Each non-employee director will receive an aggregate annual retainer fee of $30,000, payable in four equal quarterly installments. Each member of each of the Company's Audit, Compensation and Nominating and Corporate Governance Committees, other than the Chairman, will be paid an additional aggregate annual retainer fee of $5,000, payable in four equal quarterly installments. The Chairman of each of the Audit, Compensation, and Nominating and Corporate Governance Committees will receive an additional aggregate annual retainer fee of $10,000, payable in four equal quarterly installments.

        Once per calendar year, generally at the last regularly sched