Document:

EX-10.4

 Exhibit 10.4 
  

 
 September         , 2020 

Dear Jason, 
 You are receiving this letter
because you are a participant in the annual bonus program (the “Bonus Program”) of Miragen Therapeutics, Inc. (the “Company”). The Company is pleased to inform you that in gratitude for your efforts on behalf of the
Company, and to encourage your continued further contributions to the Company, your bonus payment under the Bonus Program with respect to 2020 will be equal to 100% of your target bonus ($142,000) under the Bonus Program, less applicable
withholdings (the “2020 Bonus Payment”). You must remain employed with the Company through April 15, 2021 in order to be eligible to receive the 2020 Bonus Payment, which will be paid to you on the next subsequent payroll date
following April 15, 2021. Notwithstanding the foregoing, if your employment with the Company is terminated without Cause prior to the payment of the 2020 Bonus Payment, you shall receive the 2020 Bonus Payment, which shall be paid in the same amount
and at the same time as if you had remained employed through April 15, 2021. “Cause” shall have the meaning set forth in the Company’s 2016 Equity Incentive Plan (the “2016 Plan”). 

As an additional incentive to remain employed with the Company, you shall also be eligible to earn a retention bonus equal to $284,000, less
applicable withholdings (the “Retention Bonus”) if you remain employed with the Company through the second anniversary of the date hereof. Fifty percent of the Retention Bonus shall be earned on the first anniversary of the date
hereof, and paid to you on the next subsequent payroll date following the first anniversary of the date hereof, and the remainder shall earned on the second anniversary of the date hereof, and paid to you on the next subsequent payroll date
following the second anniversary of the date hereof. If your employment is terminated without Cause prior to the first anniversary of the date hereof, you shall be paid the first installment of the Retention Bonus on the next subsequent payroll date
following such termination. If your employment is terminated without Cause on or following the first anniversary of the date hereof and prior to the second anniversary of the date hereof, you will be paid the second installment of the Retention
Bonus on the next subsequent payroll date following such termination. If a “Change in Control” (as defined in the 2016 Plan) occurs prior to the full payment of the Retention Bonus and you are employed by the Company as of
immediately prior to the Change in Control, any then-unpaid portion of Retention Bonus shall be paid in full upon the occurrence of the Change in Control. 

Thank you again for all of your contributions to the Company. 

 

	
	Sincerely,
	
	
                     

	Lee Rauch
	President and CEO

  

	
	Agreed to and acknowledged:
	
	
                     

	Name: Jason A. Leverone

  
 miRagen.com 

6200 Lookout Road, Boulder, CO 80301EX-10.5

 Exhibit 10.5 
  

 
 September         , 2020 

Dear Diana, 
 You are receiving this letter
because you are a participant in the annual bonus program (the “Bonus Program”) of Miragen Therapeutics, Inc. (the “Company”). The Company is pleased to inform you that in gratitude for your efforts on behalf of the
Company, and to encourage your continued further contributions to the Company, your bonus payment under the Bonus Program with respect to 2020 will be equal to 100% of your target bonus ($166,000) under the Bonus Program, less applicable
withholdings (the “2020 Bonus Payment”). You must remain employed with the Company through April 15, 2021 in order to be eligible to receive the 2020 Bonus Payment, which will be paid to you on the next subsequent payroll date
following April 15, 2021. Notwithstanding the foregoing, if your employment with the Company is terminated without Cause prior to the payment of the 2020 Bonus Payment, you shall receive the 2020 Bonus Payment, which shall be paid in the same amount
and at the same time as if you had remained employed through April 15, 2021. “Cause” shall have the meaning set forth in the Company’s 2016 Equity Incentive Plan (the “2016 Plan”). 

As an additional incentive to remain employed with the Company, you shall also be eligible to earn a retention bonus equal to the 2020 Bonus
Payment ($166,000), less applicable withholdings (the “Retention Bonus”) if you remain employed with the Company through the first anniversary of the date hereof. The Retention Bonus shall be the first anniversary of the date
hereof, and paid to you on the next subsequent payroll date following the first anniversary of the date hereof. If your employment is terminated without Cause prior earned on to the first anniversary of the date hereof, you shall be paid the
Retention Bonus on the next subsequent payroll date following such termination. If a “Change in Control” (as defined in the 2016 Plan) occurs prior to the full payment of the Retention Bonus and you are employed by the Company as of
immediately prior to the Change in Control, the Retention Bonus shall be paid in full upon the occurrence of the Change in Control. 
 Thank
you again for all of your contributions to the Company. 
  

	
	Sincerely,
	
	
                     

	Lee Rauch
	President and CEO

  

	
	Agreed to and acknowledged:
	
	
                     

	Name: Diana Escolar

  
 miRagen.com 

6200 Lookout Road, Boulder, CO 80301Exhibit 10.20

    

    

    SUPPLEMENTAL AGREEMENT

    

    

    This agreement (the “Agreement”) is dated this 31st day of August 2018 by and between:

    

    

    
      	
              (1)

            	
              GOLAR POWER LIMITED (the “Company”)

            

    

    

    

    
      	
              (2)

            	
              GOLAR LNG LIMITED (“Golar”)

            

    

    

    

    and

    

    

    
      	
              (3)

            	
              STONEPEAK INFRASTRUCTURE FUND II CAYMAN (G) LTD.

            

    

    (“Stonepeak”)

    

    

    (hereinafter collectively referred to as the “Parties” and, individually, as a “Party”) and
      shall supplement a certain investment and shareholders agreement between the Parties dated 5 July 2016 (the “Shareholder Agreement”).

    

    

    WHEREAS:

    

    

    
      	
              (A)

            	
              Clause 4.5 of the Shareholder Agreement documents the commitment and obligation of the Parties to establish a management incentive system in the Company (the “MIS”).

            

    

    

    

    
      	
              (B)

            	
              The MIS was intended to be equity based by way of the Company issuing warrants to its designated Management Team (as defined in the Shareholder Agreement)), cf.
                Clause 4.5 of the Shareholder Agreement.

            

    

    

    

    
      	
              (C)

            	
              The Parties delegated the responsibility for the development of the detailed terms of the MIS to the Company’s board of directors (the “Board”).

            

    

    

    

    
      	
              (D)

            	
              It was furthermore intended that the cost of the MIS should be covered by the carried interest Golar was entitled to in any profit made by Stonepeak on its
                investment in the Company, cf. Clause 4.6 and 9.3 (c) of the Shareholder Agreement (the “Golar Carried Interest”).

            

    

    

    

    
      	
              (E)

            	
              The individuals in the Management Team as of the date hereof are formally employed in (and provide services for) various corporate entities other than the Company,
                some of which provide administrative services to the Company and its subsidiaries on the terms of written service agreements and in Golar Power Latam Ltd. (“Golar Latam”), a subsidiary of the Company.

            

    

    

    

    
      	
              (F)

            	
              The service providers referred to in Recital (E) are, as of the date hereof:

            

    

    

    

    
      	
              -

            	
              Magni Partners (Bermuda) Ltd. (“Magni”); and

            

    

    
      	
              -

            	
              Golar Management Ltd. (“GolarManUK”) and its subsidiary Golar Management Norway AS, the latter providing its services as a
                general subcontractor to the former.

            

    

    

    

    (Magni and GolarManUK are hereinafter, collectively, referred to as the “Service Providers”).

    
      
        

    

    
      	
              (G)

            	
              The Board has recommended to the Parties that, in order to align the MIS with its intended financing source, it is redesigned as a cash bonus system.

            

    

    

    

    
      	
              (H)

            	
               The Parties have accepted the Board’s proposal.

            

    

    

    

    NOW THEREFORE, it is hereby agreed as follows:

    

    

    
      	
              1.

            	
              The Parties agree that the MIS shall be established as a cash bonus system where the eligible recipients shall receive a cash bonus calculated on the basis of such
                recipients’ allocated participation percentage in the MIS.

            

    

    

    

    Such payment shall be made to the Service Providers within the scope of the management agreement between the Company and each Service Provider with
      instructions (where the eligible recipient is an individual in its employment) to pay such amount on to the relevant individual recipient as a bonus payment.

    

    

    Where the eligible recipient is seconded to the relevant Service Provider from a third party, the instructions shall be to pay such amount on to the
      seconder of such eligible recipient for his benefit.

    

    

    Where the eligible recipient is employed in a subsidiary, payment shall be made directly to such individual provided, however, that the relevant
      employer shall be notified in advance of such payment.

    

    

    For the avoidance of doubt, the Parties confirm that the cash bonus system set forth herein shall substitute (and render invalid) the warrant-based
      system referred to in Clause 4.5 of the Shareholders Agreement.

     

    

    
      	
              2.

            	
              The Parties further agree that the full Golar Carried Interest shall be paid by Stonepeak directly to the Company and that the Company shall use the funds so
                received, with no deductions (other than possible tax payable by the Company with direct reference to such payment(s)), to finance the MIS.

            

    

    

    

    For the avoidance of doubt, Golar hereby confirms that Golar, subject to the same being paid by Stonepeak to the Company, shall have no claim whatsoever
      against Stonepeak for the Golar Carried Interest.

    

    

    
      	
              3.

            	
              To the extent any part of the total scope of the MIS has not been allocated to individuals in the Management Team at the time a payment thereunder is to be made by
                the Company, such amount shall be paid by the Company to Golar for the full benefit of Golar.

            

    

    

    

    
      	
              4.

            	
              The Parties agree that the principles set forth in Clause 9.3 (c) of the Shareholders Agreement shall apply as a basis for the calculation of the Golar Carried
                Interest always provided that Stonepeak shall be entitled to deduct any amount therefrom which is necessary to pay any taxes incurred in connection with Stonepeak’s realization of its interest in the Company and/or to pay any taxes (if
                necessary) imposed on any payments made hereunder.

            

    

    
      
        

    

    
      	
              5.

            	
              Payments shall be made by Stonepeak to the Company of the Golar Carried Interest:

            

    

    

    

    
      	
              (i)

            	
              in respect of dividends and other capital distributions from the Company pertaining to all of Stonepeak’s shares in the Company once the obligation to make a
                payment of the Golar Carried Interest; as per Clause 9.3 (c) of the Shareholders Agreement has occurred;

            

    

    

    

    
      	
              (ii)

            	
              in respect of a sale by Stonepeak of some of its shares in the Company (when such sale is not linked to a Liquidity Event (as defined below)), upon receipt of the
                proceeds from such sale and then in an amount calculated in relation to the shares actually sold by applying the principles set forth in Clause 9.3 (c) of the Shareholder Agreement (but subject to the provisions of Clause 6 below); and

            

    

    

    

    
      	
              (iii)

            	
              in respect of a Liquidity Event, upon its occurrence (and then calculated for all of Stonepeak’s shares in the Company by applying the principles set forth in
                Clause 9.3(c) of the Shareholder Agreement).

            

    

    

    

    Such payment shall be made in cash or by the transfer of shares in the Company as set forth herein.

     

    

    
      	
              6.

            	
              The Parties agree that, in the event there is a realization by Stonepeak of less than a majority of its equity interest in the Company, the Golar Carried Interest
                relevant to such interest shall be calculated (the “Initial GCI”) and transferred by Stonepeak to a bank account in Stonepeak’s name which shall be blocked in favour of the Company.

            

    

    

    

    The Initial GCI shall be released to the Company (for the purpose of setting the MIS) when Stonepeak has realized a further portion of its equity
      interests in the Company which, together with the interest first realized, constitutes a majority of its interest.

    

    

    The Golar Carried Interest shall then be calculated on the total interest realized by Stonepeak whereafter the final Golar Carried Interest on the
      equity interest in the Company realized by Stonepeak shall be paid out by first releasing the Initial GCI to the Company and, thereafter, by Stonepeak, if further amounts are required, paying such amount in cash directly to the Company provided
      always that if the Golar Carried Interest is less than the Initial GCI, the excess of the Initial GCI over the Golar Carried Interest shall be released to Stonepeak.

     

    

    
      	
              7.

            	
              The Parties furthermore agree that Stonepeak shall pay the full Golar Carried Interest (less any amounts previously paid pursuant to Clause 5 and 6 above) to the
                Company upon the occurrence of a “Liquidity Event.”

            

    

    

    

    “Liquidity Event” shall, for the purpose set forth above, mean a listing of the Company’s shares on a recognized
      stock exchange whether or not this is done in combination with an initial offering of new shares by the Company or a secondary offering of some of Stonepeak’s shares.

    

    

    Payment in respect of the Golar Carried Interest upon a Liquidity Event shall, in such event, be made in shares in the Company valued at the price of
      these shares in the initial offering or secondary sale of the Company’s shares completed as a basis for the Liquidity Event.

    

    

    
      	
              8.

            	
              The Parties agree that it shall be up to the Board to define the individuals who shall participate in the MIS and their participation percentage.

            

    

    

    

    The Board has, on the date hereof, identified 5 individual participants in the MIS. These participants’ relationship to the Company and the percentage
      by which they participate in the MIS are set out in Schedule 1 hereto.

    
      
        

    

    It is furthermore agreed that Magni shall participate in the MIS on par with the designated individuals in the Management Team.

    

    

    The Board has reserved 22.30% of the MIS for allocation to future members of the Management Team. To the extent this percentage is not allocated to any
      individual(s) at the time a payment under the MIS is made, the amount representing such percentage shall be paid to Golar, cf. Clause 3 above.

     

    

    
      	
              9.

            	
              It is recognized by the Parties that the payment of bonuses to individuals within the scope of the MIS who are not employed within the Golar Power Group must be
                made by the Company to the Service Provider in which the recipient is employed or, as the case may be, seconded from or through such Service Provider to its subcontractor (when the recipient is employed therein) and that this shall be done
                on the express condition that the amount paid shall, with no other deduction being made than for taxes directly triggered by such payment, be paid to or for the benefit of the relevant individual as a bonus payment under his/her employment
                contract with reference to the MIS and the Company.

            

    

    

    

    The same deduction shall be made if a payment is made directly to an individual employed in a subsidiary of the Company with whom there is no management
      agreement in place. The amount so deducted shall be paid to such individual’s employer for the purpose of financing such tax on deduction.

    

    

    The Company shall notify (and instruct) each Service Provider or employer subsidiary of the possible payments made to their employees under the MIS by
      way of a letter substantially in the form set out in Schedule 2 hereto.

    

    

    
      	
              10.

            	
              This Agreement and any dispute or claim arising out of or in connection with it (including non-contractual disputes or claims) is governed by and construed in
                accordance with the laws of England and Wales.

            

    

    

    

    	
            for and on behalf of

          	
            for and on behalf of

          	 
	
            GOLAR POWER LIMITED

          	
            GOLAR LNG LIMITED

          	 
	 	 	 	 
	
            /s/ Eduardo Antonello

          	 	
            /s/ Iain Ross

            

          	 
	 	 	 	 
	
            for and on behalf of

          	 	 
	
            STONEPEAK INFRASTRUCTURE FUND II

          	 	 
	
            CAYMAN (G) LTD.

          	 	 
	 	 	 	 
	
            /s/ Trent Vichie

          	 	 	 

    
      
        

    

    SCHEDULE 1

    

    

    THE GOLAR POWER LIMITED MANAGEMENT AGREEMENT

    INCENTIVE SCHEME

    

    

    Allocation as of 31 August 2018

    

    

    

    	
            Recipient

          	
            Admin. Function

          	
            Participation share

          
	
            Magni Partners (Bermuda) Ltd.

          	
            Consultants

          	
            22,25 %

          
	
            Eduardo Antonello 

          	
            CEO

          	
            22,25 %

          
	
            Eduardo Maranhao

          	
            CFO

            

          	
            16,70 %

          
	
            Celso Silva

          	
            SVP

          	
            5,50 %

          
	
            Robert Carter

            

          	
            CCO

            

          	
            5,50 %

          
	Erik Stavseth	 Commercial Manager	5,50 %
	 	 	
            77,70 %

          

    

    

    The remaining 22,30 % of the total is available for allocation to other individuals providing administrative services to Golar Power Limited by Golar Power Limited’s board.

    

    

    If no such allocation has been done, the amount shall be paid to Golar.

     

    

     

    
      
        

    

    
      SCHEDULE 2

      

      

      [On Golar Power Limited's Letterhead]

      

      

      [Name]

      

      

      INCLUSION IN GOLAR POWER’S MANAGEMENT INCENTIVE SCHEME

      

      

      We are pleased to inform you that you have been included in the Management Incentive Scheme of Golar Power Limited.

      

      

      Your participation and efforts provided to Golar Power are greatly appreciated and as such inclusion in the Management Incentive Scheme is made as an incentive to continued
        dedication and the prosperity of Golar Power.

      

      

      In the event of the Management Incentive Scheme crystalizing through a range of different transaction options, you will be receiving [.]% of the total amount (payable in
        the form of shares in Golar Power or cash) of Management Incentive Scheme available for distribution.

      

      

      The amount will be subject to local and individual tax and duties.

      

      

      Please note that inclusion in the Management Incentive Scheme is confidential of nature, and should not be divulged to other employees.

      

      

      Yours Sincerely,

      GOLAR POWER LIMITED

      

      

      	 	 
	
              Eduardo Antonello, CEO

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