Document:

Filed by OTC Filings Inc. - www.otcedgar.com - 1-866-832-FILE (3453) - Yanex Gorup, Inc. - Exhibit 10.1

 COMMON STOCK PURCHASE AGREEMENT
 

 This Common Stock Purchase Agreement (the “Agreement”) made this 15th day of July, 2015, by and between,  2470992 Ontario, Inc. and 2470993 Ontario, Inc. (hereinafter, collectively, the “Buyer”) and Leonardo Correa Rodriguez (the “Seller”), regarding the purchase of shares of common stock of Yanex Group, Inc., a Nevada corporation (the “Company”), and setting forth the terms and conditions upon which the Seller will sell Two Million Five Hundred Seventy Eight Thousand (2,578,000) shares (the “Shares”) of common stock (the “Common Stock”) of the Company, individually owned by Seller, to Buyer.  
 

 NOW THEREFORE, in consideration of the mutual promises, covenants and representations contained herein, the parties herewith agree as follows:
 

 ARTICLE I
 SALE OF SECURITIES
 

 1.1
 Sale.  Subject to the terms and conditions of this Agreement, the Seller agrees to sell the Shares of Common Stock for an aggregate purchase price of Twenty-Five Thousand ($25,000.00) (the “Purchase Price”).  This is a private transaction between the Seller and Buyer.
 

 1.02
 Purchase Price.  Seller hereby assigns its rights to the Purchase Price to the Company.  It is agreed that the Purchase Price for the Shares will be paid by the Buyers through the payment of certain outstanding expenses on behalf of the Company in the amount of the Purchase Price. The Closing on the sale of the Shares shall take place and stock certificate shall be delivered to the Buyers along with all documents listed in paragraphs 2.11 and 3.02 below.  
 

 ARTICLE II 
 REPRESENTATIONS AND WARRANTIES
 

 The Seller hereby represents and warrant to the Buyer the following:
 

 2.01
 Organization.  The Company is a Nevada corporation duly organized, validly existing, and in good standing under the laws of that state. The Company is a reporting company pursuant to Securities and Exchange Commission (“SEC”) rules and regulations, and has timely filed all reports schedules, forms, statements and other documents required to be filed by the Company under the Securities Act of 1933, as amended, and the Securities and Exchange Act of 1934, as amended, including pursuant to Section 12(g), 13(a) or 15(d) thereof. (The foregoing materials, including the exhibits thereto and documents incorporated by reference therein, being collectively referred to herein as the “SEC Reports”). 
 

 2.02
 Capital.  The authorized capital stock of the Company consists of 75,000,000 shares of Common Stock, $0.001 par value, of which 3,048,000 shares of Common Stock are issued and outstanding.  All outstanding shares are fully paid and non-assessable, free of liens, encumbrances, options, restrictions and legal or equitable rights of others not a party to this Agreement except for restrictions on transfer imposed by federal and state securities laws.  At the Closing, there will be no outstanding subscriptions, options, rights, warrants, convertible securities, or other agreements or commitments obligating the Company to issue or to transfer from treasury any additional shares of its capital stock.  None of the outstanding shares of Common Stock of the Company are subject to any stock restriction agreements.  All of such shareholders have valid title to such shares of Common Stock and acquired their shares of Common Stock in a lawful transaction and in accordance with Nevada corporate law and the applicable securities laws of the United States. 
 

 2.03
 Financial Statements.  The financial statements of the Company included in the SEC Reports comply in all material respects with applicable accounting requirements and the rules and regulations of the SEC with respect thereto as in effect at the time of filing.  Such financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) applied on a consistent basis throughout the periods indicated and with each other, except as may be otherwise specified in such financial statements or the notes thereto and except that the unaudited Financial Statements may not contain all footnotes required by U.S. GAAP., and such financial statements fairly present the financial condition and operating results of the Company as of the dates, and for the periods, indicated therein, subject to normal year-end audit adjustments.  Except as set forth in the Financial Statements, and as set forth in paragraph 2.05, the Company has no material liabilities (contingent or otherwise).  The Company is not a guarantor or indemnitor of any indebtedness of any other person, firm or corporation. Seller agrees to provide any reasonably requested confirmations or representations from the Company’s independent auditor in connection with the Company’s Form 10K for the period ending May 31, 2015.

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 2.04
 Filings with Government Agencies.  The Company files annual and quarterly reports with the SEC and is current in all filings.  The Company has made all filings with the state of Nevada that might be required and is current in its filings and reporting to the state of Nevada.  
 

 2.05
 Liabilities.  It is understood and agreed that the purchase of the Shares is predicated on the Company not having any liabilities at Closing. The Company will not, as of Closing, have any debt, liability, or obligation of any nature, whether accrued, absolute, contingent, or otherwise that will not be paid by Seller at Closing.  Any debt or liabilities owed by the Company at the time of Closing will be listed on Exhibit A below.  The Seller is not aware of any pending, threatened or asserted claims, lawsuits or contingencies involving the Company or its Shares. To the best knowledge of the Seller, there is no dispute of any kind between the Company and any third party, and no such dispute will exist at the Closing of this transaction and at the Closing, the Company will be free from any and all liabilities, liens, claims and/or commitments.  
 

 2.06
 Ability to Carry Out Obligations.  The Seller has the right, power, and authority to enter into, and perform its obligations under this Agreement.  The execution and delivery of this Agreement by the Seller and the performance by the Seller of its obligations hereunder will not cause, constitute, or conflict with or result in (a) any breach or violation of any of the provisions of or constitute a default under any license, indenture, mortgage, charter, instrument, articles of incorporation, bylaw, or other agreement or instrument to which the Company, the officers, directors or the Seller is a party, or by which they may be bound, nor will any consents or authorizations of any party other than those hereto be required, (b) an event that would cause the Company (and/or assigns) to be liable to any party, or (c) an event that would result in the creation or imposition of any lien, charge, or encumbrance on any asset of the Company or upon the Shares to be acquired by the Buyer.
 

 2.07
 Contracts, Leases and Assets.   The Company is not a party to any contract, agreement or lease (other than the normal contract with the Transfer Agent).  No person holds a power of attorney from the Company or the Seller.  At the Closing, the Company will have no assets or liabilities or any obligations which would give rise to a liability in the future.
 

 2.08
 Compliance with Laws.   The Company has complied in all material respects, with, and is not in violation of any, federal, state, or local statute, law, and/or regulation applicable to the Company.  To the best knowledge of the Seller, the Company has complied with all federal and state securities laws in connection with the offer, sale and distribution of its securities. The Shares being sold herein are being sold in a private transaction between the Seller and the Buyer, and the Seller makes no representations as to whether the Shares are subject to trading restrictions under the Securities Act of 1933, as amended, and rules promulgated thereunder.
 

 2.09
 Litigation.  The Company is not a party to any suit, action, arbitration, or legal, administrative, or other proceeding, or pending governmental investigation. To the best knowledge of the Seller, there is no basis for any such action or proceeding and no such action or proceeding is threatened against the Company.  The Company is not a party to or in default with respect to any order, writ, injunction, or decree of any federal, state, local, or foreign court, department, agency, or instrumentality.
 

 2.10
 Conduct of Business.  Prior to the Closing, the Company shall conduct its business in the normal course, and shall not (without the prior written approval of Buyer) (i) sell, pledge, or assign any assets, (ii) amend its Articles of Incorporation or Bylaws, (iii) declare dividends, redeem or sell stock or other securities (iv) incur any liabilities, except in the normal course of business, (v) acquire or dispose of any assets, enter into any contract, guarantee obligations of any third party, or (vi) enter into any other transaction.
 

 2.11
 Closing Documents.  All minutes, consents or other documents pertaining to the Company to be delivered at the Closing shall be valid and in accordance with the laws of Nevada.
 

 2.12
 Title.   The Seller have good and marketable title to all of the Shares being sold by them to the Buyer pursuant to this Agreement.  The Shares will be, at the Closing, free and clear of all liens, security interests, pledges, charges, claims, encumbrances and restrictions of any kind, except for restrictions on transfer imposed by federal and state securities laws.  None of the Shares are or will be subject to any voting trust or agreement.  No person holds or has the right to receive any proxy or similar instrument with respect to such Shares.  Except as provided in this Agreement, the Seller is not a party to any agreement which offers or grants to any person the right to purchase or acquire any of the Shares. There is no applicable local, state or federal law, rule, regulation, or decree which would, as a result of the purchase of the Shares by Buyer (and/or assigns) impair, restrict or delay voting rights with respect to the Shares.
 

 2.13
 Transfer of Shares.  The Seller will have the responsibility for sending all certificates representing the Shares being purchased, along with the proper Stock Powers with Signature Guarantees acceptable to the Transfer Agent for delivery to the Escrow Agent to be sent to the Buyer at Closing. 
 
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 ARTICLE III
 CLOSING
 

 3.01
 Closing for the Purchase of Common Stock.  The Closing (the “Closing”) of this Transaction for the Shares being purchased will occur when all of the documents and consideration described in Paragraphs 2.11 above and in 3.02 below have been delivered.  
 

 3.02
 Documents and Payments to be Delivered at Closing.  As part of the Closing the following documents, in form reasonably acceptable to counsel to the parties, and shall be delivered to Buyer:
 

 (a)
 By the Seller:
 

 (i)
 stock certificate or certificates, along with stock powers with medallion signature guarantees acceptable to the transfer agent, representing the Shares, endorsed in favor of the name or names as designated by each of the Buyers or left blank, in the amount of 1,289,000 shares to each Buyer;
 

 (ii)
 the resignation of all officers of the Company; 
 

 (iii) 
 the appointment of new directors of the Company as designated by the Buyer and the resignation of all its current directors; and Buyer will provide the Seller the resolution of the new appointment before the Closing;
 

 (iv)
 true and correct copies of all of the business and corporate records of the Company, including but not limited to correspondence files, bank statements, checkbooks, savings account books, minutes of shareholder and directors meetings or consents, financial statements, a shareholder list from the Company’s transfer agent dated as of the Closing, stock transfer records, agreements and contracts that exist and
 

 (v)
 such other documents of the Company as may be reasonably required by Buyer, if available.
 

 3.03    Conditions Subsequent.  After the Closing:
 

 (a) 
 After the Purchase, the Buyer of the Shares shall file the appropriate filings, if so required, disclosing the acquisition of the Shares by the Buyer (“Disclosure Document”).
 

 (b)
  Upon the purchase of the Shares by the Buyer, Buyer will have the full responsibility for filing any and all documents required by the SEC and/or any other government agency that may be required. The Seller will supply the Buyer with all information that is currently available for the Company. The Buyer understands that the Seller will have no responsibility whatsoever for any filings made by the Company in the future, either with the SEC, FINRA or with the State of Nevada.
 

 ARTICLE IV
 INVESTMENT INTENT
 

 4.01
 Transfer Restrictions.  Buyer (and/or assigns) agrees that the Shares being acquired pursuant to this Agreement may be sold, pledged, assigned, hypothecated or otherwise transferred, with or without consideration (“Transfer”) only pursuant to an effective registration statement under the Securities Act of 1933, as amended (the “Act”), or pursuant to an exemption from registration under the Act.  
 

 4.02
 Investment Intent.  The Buyer is acquiring the Shares for his own account for investment, and not with a view toward distribution thereof.
 

 4.03
 No Advertisement.  The Buyer acknowledges that the Shares have been offered to him in direct communication between him and Seller, and not through any advertisement of any kind. 
 

 4.04
 Knowledge and Experience.   The Buyer acknowledges that he has been encouraged to seek his own legal and financial counsel to assist him in evaluating this purchase. The Buyer acknowledges that Seller has given him and his counsel access to all information relating to the Company’s business that he or any one of them has requested. The Buyer acknowledges that he has sufficient business and financial experience, and knowledge concerning the affairs and conditions of the Company so that he can make a reasoned decision as to this purchase of the Shares and is capable of evaluating the merits and risks of this purchase. 
 

 4.05
 Restrictions on Transferability.  The Buyer is aware of the restrictions of transferability of the Shares and further understands the certificates shall bear the following legend.
 

 (a) THIS SECURITY HAS NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "ACT"), IN RELIANCE UPON THE EXEMPTION FROM REGISTRATION PROVIDED IN SECTIONS 4(1) AND 4(2) AND REGULATION D UNDER THE ACT. AS SUCH, THE PURCHASE OF THIS SECURITY WAS MADE WITH THE INTENT OF INVESTMENT AND NOT WITH A VIEW FOR DISTRIBUTION. THEREFORE, ANY SUBSEQUENT TRANSFER OF THIS SECURITY OR ANY INTEREST THEREIN WILL BE UNLAWFUL UNLESS IT IS REGISTERED UNDER THE ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE. 
 

 (b) The Buyer understands that the Shares may only be disposed of pursuant to either (i) an effective registration statement under the Act, or (ii) an exemption from the registration requirements of the Act. 
 

 
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 ARTICLE V
 REMEDIES
 

 5.01
 Arbitration.  All questions concerning the construction, validity, enforcement and interpretation of this Agreement shall be governed by and construed and enforced in accordance with the internal laws of the State of Nevada, without regard to the principles of conflict of laws thereof. Any controversy of claim arising out of, or relating to, this Agreement, or the making, performance, or interpretation thereof, shall be settled by arbitration in Nevada in accordance with the Rules of the U.S. Arbitration Association then existing, and judgment on the arbitration award may be entered in any court having jurisdiction over the subject matter of the controversy.
 

 5.02
 Termination.  The Buyer may terminate this Agreement, if at the Closing, the Seller has failed to comply with all material terms of this Agreement and have failed to supply any documents required by this Agreement unless they do not exist, or have failed to disclose any material facts which could have a substantial effect on any part of this transaction.  Seller may terminate this Agreement, if at the Closing Buyer has failed to perform.  Termination is the sole remedy.
 

 5.03
 Indemnification.  From and after the Closing, the Parties, jointly and severally, agree to indemnify the other against all actual losses, damages and expenses caused by (i) any material breach of this Agreement by them or any material misrepresentation contained herein, or (ii) any misstatement of a material fact or omission to state a material fact required to be stated herein or necessary to make the statements herein not misleading.
 

 5.04
 Indemnification Non-Exclusive.  The foregoing indemnification provision is in addition to, and not derogation of any statutory, equitable or common law remedy any party may have for breach of representation, warranty, covenant or agreement.
 

 ARTICLE VI
 MISCELLANEOUS
 

 6.01
 Captions and Headings.  The article and paragraph headings throughout this Agreement are for convenience and reference only, and shall in no way be deemed to define, limit, or add to the meaning of any provision of this Agreement.
 

 6.02
 No Oral Change.  This Agreement and any provision hereof, may not be waived, changed, modified, or discharged, orally, but only by an agreement in writing signed by the party against whom enforcement of any waiver, change, modification, or discharge is sought.
 

 6.03
 Non Waiver.  Except as otherwise expressly provided herein, no waiver of any covenant, condition, or provision of this Agreement shall be deemed to have been made unless expressly in writing and signed by the party against whom such waiver is charged; and (i) the failure of any party to insist in any one or more cases upon the performance of any of the provisions, covenants, or conditions of this Agreement or to exercise any option herein contained shall not be construed as a waiver or relinquishment for the future of any such provisions, covenants, or conditions, (ii) the acceptance of performance of anything required by this Agreement to be performed with knowledge of the breach or failure of a covenant, condition, or provision hereof shall not be deemed a waiver of such breach or failure, and (iii) no waiver by any party of one breach by another party shall be construed as a waiver with respect to any other or subsequent breach.
 

 6.04
 Time of Essence.  Time is of the essence of this Agreement and of each and every provision hereof.
 

 6.05
 Entire Agreement.  This Agreement, including any and all attachments hereto, if any, contain the entire Agreement and understanding between the parties hereto, and supersede all prior agreements and understandings.
 

 6.06
 Partial Invalidity.  In the event that any condition, covenant or other provision of this Agreement is held to be invalid or void by any court of competent jurisdiction, it shall be deemed severable from the remainder of this Agreement and shall in no way affect any other condition, covenant or other provision of this Agreement. If such condition, covenant or other provision is held to be invalid due to its scope or breadth, it is agreed that it shall be deemed to remain valid to the extent permitted by law. 
 

 6.07
 Significant Changes.  The Seller understands that significant changes may be made in the capitalization and/or stock ownership of the Company, which changes could involve a reverse stock split and/or the issuance of additional shares, thus possibly having a dramatic negative effect on the percentage of ownership and/or number of shares owned by present shareholders of the Company.
 

 6.08
 Counterparts.  This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.  Facsimile or email signatures will be acceptable to all parties.
 

 6.09
 Binding Effect.  This Agreement shall inure to and be binding upon the heirs, executors, personals, successors and assigns of each of the parties to this Agreement.
 

 6.10
 Effect of Closing.  All representations, warranties, covenants, and agreements of the parties contained in this Agreement, or in any instrument, certificate, opinion, or other writing provided for in it, shall be true and correct as of the Closing and shall survive the Closing of this Agreement.
 
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 6.11
 Mutual Cooperation.  The parties hereto shall cooperate with each other to achieve the purpose of this Agreement, and shall execute such other and further documents and take such other and further actions as may be necessary or convenient to effect the transaction described herein.
 

 6.12
 Extinguishment of Debt; Release of Claims.  Seller hereby forgives and disclaims any and all loans or other amounts advanced to or on behalf of the Company by the Seller.  Seller acknowledges and agrees that upon execution of this Agreement, (i) the Company has no outstanding debt or any other obligations to the Seller; and (ii) Seller hereby releases the Company and all of its directors, officers, employees and agents from and as to any and all liability, claims, actions, causes of action, suits, and demands, whether in law or in equity, whether known to Seller or unknown, for damages of every kind, character or description, costs, expenses, compensation, consequential damages, attorney’s fees and expenses of litigation and any damages for fraud or misrepresentation, or any other thing whatsoever, from the beginning of time to the date of this Agreement. 
  
 

 IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the date first above written.
 

 Leonardo Correa Rodriguez, Seller
   
 /s/ Leonardo Rodriguez
                                                               

 

 2470992 Ontario, Inc., Buyer
  
 /s/ Jason Abbott
                                                              
  
 By:  Jason W. Abbott, President              
 

 

 2470993 Ontario, Inc., Buyer
  
  /s/ John Kim
                                                              
  
 By: John Kim, Director
 

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 Exhibit A
 

 LIABILITIES
 

 None. 
  
 

 
 
 
  
 	  6EX-10.1

 Exhibit 10.1 

FORM OF 
 AMENDMENT TO

 [AMENDED AND RESTATED] EMPLOYMENT AGREEMENT 

This AMENDMENT TO [AMENDED AND RESTATED] EMPLOYMENT AGREEMENT (the “Amendment”), dated as of
[                    ], is made and entered into by and between Receptos, Inc., a Delaware corporation (the “Company”), and
[                    ] (the “Executive”). 

RECITALS 
 WHEREAS, the
Company, Celgene Corporation, a Delaware corporation (“Parent”), and Strix Corporation, a Delaware corporation and direct wholly owned subsidiary of Parent (the “Acquisition Sub”), have entered into an Agreement and
Plan of Merger (the “Merger Agreement”) pursuant to which Acquisition Sub will commence a tender offer to acquire all of the outstanding shares of common stock of the Company, and will then merge with and into the Company, with the
Company as the surviving corporation of such merger (the “Merger”); 
 WHEREAS, the Company and the Executive are parties
to an [Amended and Restated] Employment Agreement, dated as of [                    ] (the “Agreement”); and 

WHEREAS, in connection with the Merger, the Company and the Executive desire to enter into this Amendment with respect to the effect of the
Merger under the Agreement. 
 AMENDMENT 

The parties hereto hereby amend the Agreement as follows, effective as of the date on which the Merger Agreement is entered into. 

 

	1.	Section 9 of the Agreement is hereby deleted in its entirety and replaced with the following: 

  

	 	9.	“Certain Additional Payments by the Company. 

 a. Gross-Up
Payment. If it shall be determined that any Payment (as defined below) would be subject to the Excise Tax (as defined below), then the Executive shall be entitled to receive an additional payment (the “Gross-Up Payment”) in an
amount such that, after payment by the Executive of all taxes (and any interest or penalties imposed with respect to such taxes), including without limitation, any income taxes (and any interest and penalties imposed with respect thereto) and Excise
Tax imposed upon the Gross-Up Payment, but excluding any income taxes and penalties imposed pursuant to Section 409A of the Code, the Executive retains an amount of the Gross-Up Payment equal to the Excise Tax imposed upon the Payments. The
Company’s obligation to make Gross-Up Payments under this Section 9 shall not be conditioned upon the Executive’s termination of employment. 

b. Determinations. Subject to the provisions of Section 9(c) below, all determinations required to be made under
this Section 9, including whether and when a 

 
Gross-Up Payment is required, the amount of such Gross-Up Payment, and the assumptions to be utilized in arriving at such determination, shall be made by Ernst & Young LLP (the
“Accounting Firm”). The Accounting Firm shall provide detailed supporting calculations both to the Company and the Executive within 15 business days of the receipt of notice from the Executive that there has been a Payment or
such earlier time as is requested by the Company. All fees and expenses of the Accounting Firm shall be borne solely by the Company. Any determination by the Accounting Firm shall be binding upon the Company and the Executive. As a result of the
uncertainty in the application of Section 4999 of the Code at the time of the initial determination by the Accounting Firm hereunder, it is possible that Gross-Up Payments that will not have been made by the Company should have been made (the
“Underpayment”), consistent with the calculations required to be made hereunder. In the event the Company exhausts its remedies pursuant to Section 9(c) below and the Executive thereafter is required to make a payment of any
Excise Tax, the Accounting Firm shall determine the amount of the Underpayment that has occurred and any such Underpayment shall be promptly paid by the Company to or for the benefit of the Executive. 

c. Claims by the IRS. The Executive shall notify the Company in writing of any claim by the Internal Revenue Service
that, if successful, would require the payment by the Company of the Gross-Up Payment. Such notification shall be given as soon as practicable, but no later than 10 business days after the Executive is informed in writing of such claim. The
Executive shall apprise the Company of the nature of such claim and the date on which such claim is requested to be paid. The Executive shall not pay such claim prior to the expiration of the 30-day period following the date on which the Executive
gives such notice to the Company (or such shorter period ending on the date that any payment of taxes with respect to such claim is due). If the Company notifies the Executive in writing prior to the expiration of such period that the Company
desires to contest such claim, the Executive shall: 
 i. give the Company any information reasonably requested by the
Company relating to such claim; 
 ii. take such action in connection with contesting such claim as the Company shall
reasonably request in writing from time to time, including, without limitation, accepting legal representation with respect to such claim by an attorney reasonably selected by the Company; 

iii. cooperate with the Company in good faith in order to effectively contest such claim; and 

iv. permit the Company to participate in any proceedings relating to such claim; 

provided, however, that the Company shall bear and pay directly all costs and expenses (including additional interest and
penalties) incurred in connection with such contest, and shall indemnify and hold the Executive harmless, on an after-tax basis, for any Excise Tax or income tax (including interest and penalties) imposed as a result of such representation and
payment of costs and expenses. Without limitation on the foregoing provisions of this Section 9(c), the Company shall control all proceedings taken in 

  
 2 

 
connection with such contest, and, at its sole discretion, may pursue or forgo any and all administrative appeals, proceedings, hearings, and conferences with the applicable taxing authority in
respect of such claim and may, at its sole discretion, either pay the tax claimed to the appropriate taxing authority on behalf of the Executive and direct the Executive to sue for a refund or to contest the claim in any permissible manner, and the
Executive agrees to prosecute such contest to a determination before any administrative tribunal, in a court of initial jurisdiction, and in one or more appellate courts, as the Company shall determine; provided, however, that, if the
Company pays such claim and directs the Executive to sue for a refund, the Company shall indemnify and hold the Executive harmless, on an after-tax basis, from any Excise Tax or income tax (including interest or penalties) imposed with respect to
such payment or with respect to any imputed income in connection with such payment; and provided, further, that any extension of the statute of limitations relating to payment of taxes for the taxable year of the Executive with respect
to which such contested amount is claimed to be due is limited solely to such contested amount. Furthermore, the Company’s control of the contest shall be limited to issues with respect to which the Gross-Up Payment would be payable hereunder,
and the Executive shall be entitled to settle or contest, as the case may be, any other issue raised by the Internal Revenue Service or any other taxing authority. 

d. Refunds. If, after the receipt by the Executive of a Gross-Up Payment or payment by the Company of an amount on the
Executive’s behalf pursuant to Section 9(c) above, the Executive becomes entitled to receive any refund with respect to the Excise Tax to which such Gross-Up Payment relates or with respect to such claim, the Executive shall (subject to
the Company’s complying with the requirements of Section 9(c) above, if applicable) promptly pay to the Company the amount of such refund (together with any interest paid or credited thereon after taxes applicable thereto). If, after
payment by the Company of an amount on the Executive’s behalf pursuant to Section 9(c) above, a determination is made that the Executive shall not be entitled to any refund with respect to such claim and the Company does not notify the
Executive in writing of its intent to contest such denial of refund prior to the expiration of 30 days after such determination, then the amount of such payment shall offset, to the extent thereof, the amount of Gross-Up Payment required to be paid.

 e. Payment of the Gross-Up Payment. Any Gross-Up Payment, as determined pursuant to this Section 9, shall be
paid by the Company within five days of the receipt of the Accounting Firm’s determination; provided that the Gross-Up Payment shall in all events be paid no later than the end of the Executive’s taxable year next following the
Executive’s taxable year in which the Excise Tax (and any income or other related taxes or interest or penalties thereon) on a Payment are remitted to the Internal Revenue Service or any other applicable taxing authority or, in the case of
amounts relating to a claim described in Section 9(c) above that does not result in the remittance of any federal, state, local, and foreign income, excise, social security, and other taxes, the calendar year in which the claim is finally
settled or otherwise resolved. Notwithstanding any other provision of this Section 9, the Company may, in its sole discretion, withhold and pay over to the Internal Revenue Service or any other applicable taxing authority, for the benefit of
the Executive, all or any portion of any Gross-Up Payment, and the Executive hereby consents to such withholding. 

  
 3 

 f. Certain Definitions. The following terms shall have the following meanings for purposes
of this Agreement: 
 i. “Excise Tax” shall mean the excise tax imposed by Section 4999 of the Code,
together with any interest or penalties imposed with respect to such excise tax. 
 ii. A “Payment” shall
mean any payment or distribution in the nature of compensation (within the meaning of Section 280G(b)(2) of the Code) to or for the benefit of the Executive, whether paid or payable pursuant to this Agreement or otherwise.” 

 

	2.	To the extent applicable, the Agreement shall be deemed amended to the extent necessary to effectuate the provisions and intent of this Amendment, and such amendments shall be incorporated in and form a part of such
agreements. 

  

	3.	In the event the Merger Agreement is terminated prior to consummation of the Merger, this Amendment shall automatically and without further action terminate. 

 

	4.	This Amendment shall be administered, interpreted and enforced under the internal laws of the State of California without regard to the principles of conflicts of laws thereof. 

 

	5.	If any provision of this Amendment is determined to be invalid or unenforceable, it shall be adjusted rather than voided, to achieve the intent of the parties to the extent possible, and the remainder of the Amendment
shall be enforced to the maximum extent possible. 

  

	6.	This Amendment may be executed in any number of counterparts, each of which shall be deemed to be an original and all of which together shall constitute one and the same instrument. The parties hereto agree to accept a
signed facsimile copy of this Amendment as a fully binding original. 

 (Signature page follows) 

  
 4 

 IN WITNESS WHEREOF, this Amendment has been executed and delivered by the parties hereto. 

 

			
	RECEPTOS, INC.,
	a Delaware corporation
		
	By		  

	 [                    ]

[                    ]

	
	EXECUTIVE
		
	By		  

	[                    ]

  
 S-1

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