Document:

EX-10.11

  Exhibit 10.11

   

  AMENDED AND RESTATED GRITSTONE BIO, INC. (F/K/A GRITSTONE ONCOLOGY, INC.)

  NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM

  This Amended and Restated Gritstone bio, Inc. (f/k/a Gritstone Oncology, Inc. (the “Company”)) Non-Employee Director Compensation Program (this “Program”) has been adopted under the Company’s 2018 Incentive Award Plan (the “Plan”) and shall be effective upon March 8, 2021 (the “Effective Date”). Capitalized terms not otherwise defined herein shall have the meaning ascribed in the Plan.

  Cash Compensation

  Effective upon the Effective Date, annual retainers will be paid in the following amounts to Non-Employee Directors:

    

  					
	 
	 
	 
	 
	 

	Non-Employee Director:
	   
	$
	40,000
	  

	Non-Executive Chair:
	   
	$
	35,000
	  

	Audit Committee Chair:
	   
	$
	15,000
	  

	Compensation Committee Chair:
	   
	$
	10,000
	  

	Nominating and Corporate Governance Committee Chair:
	   
	$
	8,000
	  

	Audit Committee Member (non-Chair):
	   
	$
	7,500
	  

	Compensation Committee Member (non-Chair):
	   
	$
	5,000
	  

	Nominating and Corporate Governance Committee Member (non-Chair):
	   
	$
	4,000
	  

  All annual retainers will be paid in cash quarterly in arrears promptly following the end of the applicable calendar quarter, but in no event more than 30 days after the end of such quarter. In the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described above, for an entire calendar quarter, the retainer paid to such Non-Employee Director shall be prorated for the portion of such calendar quarter actually served as a Non-Employee Director, or in such position, as applicable.

  Equity Compensation

    

  			
	 
	 
	 

	Initial Stock Option Grant:
	   
	Each Non-Employee Director who is initially elected or appointed to serve on the Board after the closing of the Company’s initial public offering of its common stock (the “IPO”) shall be granted an Option under the Plan or any other applicable Company equity incentive plan then-maintained by the Company to purchase 38,000 shares of Common Stock.
  
The Initial Option will be automatically granted on the date on which such Non-Employee Director commences service on the Board, and will vest as to 1/36th of the shares subject thereto on each monthly anniversary of the applicable date of grant such that the shares subject to the Initial Option are fully vested on the third anniversary of the grant, subject to the Non-Employee Director continuing in service on the Board through each vesting date.

   

  

  			
	 
	 
	 

	 
	 

	Annual Stock Option Grant:    
	   
	Each Non-Employee Director who is serving on the Board as of the date of each annual shareholder meeting of the Company (each, an “Annual Meeting”) shall be granted an Option under the Plan or any other applicable Company equity incentive plan then-maintained by the Company to purchase 19,000 shares of Common Stock, provided that the number of shares subject to the Annual Option will be prorated for any partial year of service as a Non-Employee Director.
  
The Annual Option will be automatically granted on the date of the applicable Annual Meeting, and will vest in full on the earlier of (i) the first anniversary of the date of grant and (ii) immediately prior to the Annual Meeting following the date of grant, subject to the Non-Employee Director continuing in service on the Board through such vesting date.

  The per share exercise price of each Option granted to a Non-Employee Director shall equal the Fair Market Value of a share of common stock on the date the Option is granted.

  The term of each Option granted to a Non-Employee Director shall be ten years from the date the Option is granted.

  No portion of an Initial Option or Annual Option which is unvested or unexercisable at the time of a Non-Employee Director’s termination of service on the Board shall become vested and exercisable thereafter.

  Members of the Board who are employees of the Company or any parent or subsidiary of the Company who subsequently terminate their service with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Option, but to the extent that they are otherwise eligible, will be eligible to receive, after termination from service with the Company and any parent or subsidiary of the Company, Annual Options as described above.

  Change in Control

  Upon a Change in Control of the Company, all outstanding equity awards granted under the Plan and any other equity incentive plan maintained by the Company that are held by a Non-Employee Director shall become fully vested and/or exercisable, irrespective of any other provisions of the Non-Employee Director’s Award Agreement.

   

  Reimbursements

  The Company shall reimburse each Non-Employee Director for all reasonable, documented, out-of-pocket travel and other business expenses incurred by such Non-Employee Director in the performance of his or her duties to the Company in accordance with the Company’s applicable expense reimbursement policies and procedures as in effect from time to time.

  Miscellaneous

  The other provisions of the Plan shall apply to the Options granted automatically pursuant to this Program, except to the extent such other provisions are inconsistent with this Program. All applicable terms of the Plan apply to this Program as if fully set forth herein, and all grants of Options hereby are subject in all respects to the terms of the Plan. The grant of any Option under this Program shall be made solely by and subject to the terms set forth in a written agreement in a form to be approved by the Board and duly executed by an executive officer of the Company.

  Effectiveness

  This Program shall become effective upon the Effective Date.Exhibit
10.1

 

JE
Cleantech Holdings Limited

3
Woodlands Sector 1

Singapore
738361

+65
6369 4198

 

December
28, 2021

 

_________________________

_________________________

_________________________

 

Re:
Director’s Agreement

 

Dear
_____________________:

 

JE
Cleantech Holdings Limited (the “Company”), is pleased to offer you a position as a director on its Board of Directors
and as a chair of the _______ Committee and a member of the _____________ Committee that we intend to form (collectively the “Board”).
This letter shall constitute an agreement (the “Agreement”) between you and the Company and contains all the terms
and conditions relating to the services you are to provide.

 

1.
Term. This Agreement shall be for the ensuing year, effective as of the date of this Agreement. Your term as director shall
continue subject to the provisions in Section 8 below or until your successor is duly elected and qualified. The position shall be up
for re-election each year at the annual stockholders’ meeting and upon re-election, the terms and provisions of this Agreement
shall remain in full force and effect.

 

2.
Services. You shall render services as a member of the Board. You shall be required to attend all meetings of the Board called
from time to time either in-person or by telephone. You shall be required to attend all meetings of __________ Committee and the _____________
Committee either in-person or by telephone. As an independent director, you may also be required to attend at least one (1) meeting with
the other independent directors without the presence of the Company’s officers and non-independent directors and to perform such
other duties required of the independent directors, including but not limited to submitting relevant documents required of directors
by the SEC or Nasdaq. The services described in this Section 2 shall hereinafter be referred to as your “Duties.”

 

3.
Services for Others. You shall be free to represent or perform services for other persons during the term of this Agreement.
You agree, however, that you do not presently perform and do not intend to perform, during the term of this Agreement, similar Duties,
consulting, or other services for companies whose businesses are or would be, in any way, competitive with the Company (except for companies
previously disclosed by you to the Company in writing). Should you propose to perform similar Duties, consulting, or other services for
any such company, you agree to notify the Company in writing in advance (specifying the name of the organization for whom you propose
to perform such services) and to provide information to the Company sufficient to allow it to determine if the performance of such services
would conflict with areas of interest to the Company.

 

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4.
Compensation.

 

4.1.
Options. You will be entitled to participate in the Company’s share option scheme as adopted and amended from time to
time. The number of options granted, and the terms of those options shall be determined from time to time by a vote of the Board of Directors;
provided that you shall abstain from voting on any such resolution or resolutions relating to the grant of options to you.

 

4.2
Cash Compensation. You will be paid a director’s fee of USD$________ per year on an annual basis (“Director’s
Fee”) for performing your Duties. The Director’s Fee will be fully earned at the beginning of each year in which you serve
as a director, and the Company’s obligation to pay the full amount of the Director’s Fee shall be absolute and unconditional
at the beginning of each year, notwithstanding the fact that payment is being made on an installment basis. The Director’s Fee
shall be payable in monthly installments of USD$_______. The first installment will be transferred to your account on the first day of
your service as a Director, and subsequent installments on last business day of each calendar month thereafter. It is anticipated that
the Directors fee will continue for so long as you are a Director and will continue to be paid in monthly increments.

 

4.3.
Cash Reimbursement. You shall be reimbursed for reasonable expenses documented and incurred by you in connection with the
performance of your Duties (including travel expenses for meetings you attend in-person).

 

4.4.
Service on Board Committee(s). You will not receive additional compensation (other than the Director’s Fee) for your
services on the Audit Committee and the Nomination Committee.

 

5.
D&O Insurance Policy. During the term under this Agreement, the Company shall include you as an insured under its officers
and directors’ insurance policy with coverage determined annually by the Company and the Board. The Company agrees to maintain
such insurance during the term that you serve as a Director and for two years after you cease to be a director.

 

6.
No Assignment. Because of the personal nature of the services to be rendered by you, this Agreement may not be assigned by
you without the prior written consent of the Company.

 

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7.
Confidential Information; Non-Disclosure. In consideration of your access to the premises of the Company and/or you access
to certain Confidential Information of the Company, in connection with your business relationship with the Company, you hereby represent
and agree as follows:

  

7.1.
Definitions. For purposes of this Agreement, the term “Confidential Information” means:

 

a.
Any information that the Company possesses that has been created, discovered, or developed by or for the Company, and that has or
could have commercial value or utility in the business in which the Company is engaged; or

 

b.
Any information that is related to the business of the Company and is generally not known by non-Company personnel.

 

c.
By way of illustration, but not limitation, Confidential Information includes trade secrets and any information concerning products,
processes, formulas, designs, inventions (whether or not patentable or registrable under copyright or similar laws, and whether or not
reduced to practice), discoveries, concepts, ideas, improvements, techniques, methods, research, development and test results, specifications,
data, know-how, software, formats, marketing plans, and analyses, business plans and analyses, strategies, forecasts, customer and supplier
identities, characteristics, and agreements.

 

7.2.
Exclusions. Notwithstanding the foregoing, the term Confidential Information shall not include:

 

a.
Any information that becomes generally available to the public other than as a result of a breach of the confidentiality portions
of this Agreement, or any other agreement requiring confidentiality between the Company and you;

 

b.
Information received from a third party in rightful possession of such information who is not restricted from disclosing such information;
and

 

c.
Information known by you prior to receipt of such information from the Company, which prior knowledge can be documented.

 

7.3.
Documents. You agree that, without the express prior written consent of the Company, you will not remove from the Company’s
premises, any notes, formulas, programs, data, records, machines, or any other documents or items that in any manner contain or constitute
Confidential Information, nor will you make reproductions or copies of same. In the event you receive any such documents or items by
personal delivery from any duly designated or authorized personnel of the Company, you shall be deemed to have received the express written
consent of the Company. In the event that you receive any such documents or items, other than through personal delivery as described
in the preceding sentence, you agree to inform the Company promptly of your possession of such documents or items. You shall promptly
return any such documents or items, along with any reproductions or copies to the Company upon the Company’s demand, upon termination
of this Agreement, or upon your termination or Resignation, as defined in Section 8 herein.

 

7.4.
No Disclosure. You agree that you will hold in trust and confidence all Confidential Information and will not disclose to
others, directly or indirectly, any Confidential Information or anything relating to such information without the prior written consent
of the Company, except as maybe necessary in the course of your business relationship with the Company. You further agree that you will
not use any Confidential Information without the prior written consent of the Company, except as may be necessary in the course of your
business relationship with the Company, and that the provisions of this Section 7.4 shall survive termination of this Agreement for twelve-month
period.

 

    	3

     

    

 

8.
Termination and Resignation. Your membership on the Company’s Board may be terminated
for any or no reason at a meeting called expressly for that purpose by a vote of the stockholders holding more than fifty percent (50%)
of the shares of the Company’s issued and outstanding shares entitled to vote. You may also terminate your membership on the Board
for any or no reason by delivering your written notice of resignation to the Company (“Resignation”), and such Resignation
shall be effective upon its acceptance by the Board, provided, however, that if the Board has not acted on such written notice within
ten days from its date of delivery, then your Resignation shall upon the tenth day be deemed accepted by the Board. Upon the effective
date of the termination or Resignation, your right to compensation hereunder will terminate subject to the Company’s obligations
to pay you any cash compensation (or equivalent value in shares of the Company’s common stock) that you have already earned and
to reimburse you for approved expenses already incurred in connection with your performance of your Duties as of the effective date of
such termination or Resignation; provided that the Company’s obligation to pay you Shares in accordance with Section 4.1 above
and the Director’s Fee in accordance with Section 4.2 above for the first year in which you have agreed to serve as a director
shall not be changed or adjusted and the Company shall remain obligated to pay the full amount of the Director’s Fee and the Shares
without regard to the period that you serve as a Director.

 

9.
Indemnification. Concurrent with the execution of this Agreement we shall enter into the Director’s Indemnification
Agreement attached hereto as Exhibit A and incorporated herein by this reference.

 

10.
Governing Law. All questions with respect to the construction and/or enforcement of this Agreement, and the rights and obligations
of the parties hereunder, shall be determined in accordance with the laws of the Cayman Islands without regard to any conflicts of law
principles that would result in the application of the laws of another jurisdiction.

 

11.
Arbitration. Any dispute, controversy, difference or claim arising out of or relating to this
agreement, including the existence, validity, interpretation, performance, breach or termination thereof or any dispute regarding non-contractual
obligations arising out of or relating to it shall be referred to and finally resolved by arbitration administered by the Singapore International
Arbitration Centre (SIAC) under the UNCITRAL Arbitration Rules in force when the Notice of Arbitration is submitted, as modified by the
SIAC Procedures for the Administration of Arbitration under the UNCITRAL Arbitration Rules.

 

The
Parties agree as follows:

 

	 	●	The
    law of this arbitration clause shall be Singapore.
	 	●	The
    place of arbitration shall be Singapore.
	 	●	The
    number of arbitrators shall be one.
	 	●	The
    arbitration proceedings shall be conducted in the English language.

 

12.
Entire Agreement; Amendment; Waiver; Counterparts. This Agreement expresses the entire understanding with respect to the subject
matter hereof and supersedes and terminates any prior oral or written agreements with respect to the subject matter hereof. Any term
of this Agreement may be amended and observance of any term of this Agreement may be waived only with the written consent of the parties
hereto. Waiver of any term or condition of this Agreement by any party shall not be construed as a waiver of any subsequent breach or
failure of the same term or condition or waiver of any other term or condition of this Agreement. The failure of any party at any time
to require performance by any other party of any provision of this Agreement shall not affect the right of any such party to require
future performance of such provision or any other provision of this Agreement. This Agreement may be executed in separate counterparts
each of which will be an original and all of which taken together will constitute one and the same agreement, and may be executed using
facsimiles of signatures, and a facsimile of a signature shall be deemed to be the same, and equally enforceable, as an original of such
signature.

 

[Remainder
of Page Left Blank Intentionally]

 

    	4

     

    

 

This
Agreement has been executed and delivered by the undersigned and is made effective as of the date first set forth above.

 

	 	Sincerely, 
	 	 	 
	 	JE CLEANTECH HOLDINGS LIMITED
	 	 	 
	 	By:	                         
	 		Ms.
    Hong Bee Yin
	 	 	Chairwoman,
    Executive Director and
	 	 	Chief
    Executive Officer

 

AGREED
AND ACCEPTED BY

_________________________:

 

__________________________________

__________________________________

__________________________________

__________________________________

 

    	5

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