Document:

Exhibit
10.13

 

 

 

 

 

July
23, 2015

 

 

JM
Global Holding Company

1615
South Congress Avenue

Suite
103

Delray
Beach, Florida 33445

 

Cantor
Fitzgerald & Co.

499
Park Avenue

New
York, New York 10022

 

	Re:		Initial Public Offering

 

Gentlemen:

 

This
letter is being delivered to you in accordance with the Underwriting Agreement (the “Underwriting Agreement”)
to be entered into by and between JM Global Holding Company, a Delaware corporation (the “Company”),
and Cantor Fitzgerald & Co. (the “Underwriter”) relating to an underwritten initial public offering
(the “IPO”) of the Company’s units (the “Units”), each comprised of
one share of the Company’s common stock, par value $0.0001 per share (the “Common Stock”), and
one warrant (“Warrant”) to purchase one-half of one share of Common Stock. The undersigned intends to
purchase 3,000,000 Units in the IPO. Certain capitalized terms used herein are defined in paragraph 6 hereof.

 

In
order to induce the Company and the Underwriter to enter into the Underwriting Agreement and to proceed with the IPO, and in recognition
of the benefit that such IPO will confer upon the undersigned as a stockholder of the Company, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the undersigned hereby agrees with the Company and
the Underwriter as follows:

 

1.The
undersigned will not sell, assign, transfer, pledge, hypothecate or otherwise dispose (each a “Transfer”)
of 1,000,000 shares of Common Stock acquired by it in the IPO (such shares being referred to herein as the “Restricted
Shares”) prior to the consummation of a Business Combination; provided, however, that the undersigned may Transfer
any such Restricted Shares if, and only if, the prospective transferee executes a written agreement pursuant to which such transferee
is bound by the same terms and conditions of this letter agreement. The undersigned understands and acknowledges that the Restricted
Shares purchased by him, her or it in the IPO will be issued in certificate form or in book entry through the Company’s
transfer agent and bear a legend (if issued in certificate form) or notation on the transfer agent’s records (if issued
in book entry) indicating the foregoing restriction on Transfers.

    	1

    	 

    

 

2.If
the Company solicits approval of its stockholders of a Business Combination, the undersigned will vote all shares of Common Stock
acquired in the IPO in favor of such Business Combination.

 

3.The
undersigned hereby waives his, her or its right to exercise redemption rights, as described in the Registration Statement, in
connection with a Business Combination with respect to the Restricted Shares, and agrees that he, she or it will not seek redemption
with respect to such Restricted Shares in connection with any vote on a Business Combination with respect thereto.

 

4.The
undersigned has full right and power, without violating any agreement by which he, she or it is bound, to enter into this letter
agreement.

 

5.In
connection with Section 5-1401 of the General Obligations Law of the State of New York, this letter agreement shall be governed
by, and construed in accordance with, the laws of the State of New York without regard to principles of conflicts of law that
would result in the application of the substantive law of another jurisdiction. The parties hereto agree that any action, proceeding
or claim arising out of or relating in any way to this letter agreement shall be resolved through final and binding arbitration
in accordance with the International Arbitration Rules of the American Arbitration Association (“AAA”). The arbitration
shall be brought before the AAA International Center for Dispute Resolution’s offices in New York City, New York, will be
conducted in English and will be decided by a panel of three arbitrators selected from the AAA Commercial Disputes Panel and that
the arbitrator panel’s decision shall be final and enforceable by any court having jurisdiction over the party from whom
enforcement is sought. The cost of such arbitrators and arbitration services, together with the prevailing party’s legal
fees and expenses, shall be borne by the non-prevailing party or as otherwise directed by the arbitrators. The undersigned hereby
appoints, without power of revocation, Ellenoff Grossman & Schole LLP, 1345 Avenue of the Americas, 11th Floor,
New York, New York 10105, Fax No.: (212) 370-7889, Attn: Douglas S. Ellenoff, Esq., as its agent to accept and acknowledge on
its behalf service of any and all process which may be served in any arbitration, action, proceeding or counterclaim in any way
relating to or arising out of this letter agreement.

 

6.As
used herein, (i) a “Business Combination” shall mean a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities, all
as more fully described in the Registration Statement; and (ii) “Registration Statement” means the registration
statement on Form S-1 (File No. 333-204995), as amended, filed by the Company with the Securities and Exchange Commission with
respect to the IPO.

 

    	2

    	 

    

  

7.Any
notice, consent or request to be given in connection with any of the terms or provisions of this letter agreement shall be in
writing and shall be sent by express mail or similar private courier service, by certified mail (return receipt requested), by
hand delivery or facsimile transmission.

 

8.No
party hereto may assign either this letter agreement or any of its rights, interests, or obligations hereunder without the prior
written consent of the other party. Any purported assignment in violation of this paragraph shall be void and ineffectual and
shall not operate to transfer or assign any interest or title to the purported assignee. This letter agreement shall be binding
on the parties hereto and any successors and assigns thereof.

 

9.The
undersigned acknowledges and understands that the Underwriter and the Company will rely upon the agreements, representations and
warranties set forth herein in proceeding with the IPO.

 

	 	Qi Zhang	 
	 	Print Name	 
	 	 	 
	 	/s/ Qi Zhang	 
	 	Signature	 

Accepted
and Agreed:

JM
Global Holding Company

 

	By:	/s/ Tim Richerson	 
	 	Name:
Tim Richerson	 
	 	Title:
CEO	 
	 	 	 
	Cantor Fitzgerald & Co.	 
	 	 	 
	 	 	 
	By:	/s/ Shawn Matthews	 
	 	Name:
Shawn Matthews	 
	 	Title:
CEO	 
	 	 	 

 

 

    	3Exhibit 10.7-2015.06.30

Exhibit 10.7

ANTHEM, INC.
BOARD OF DIRECTORS COMPENSATION PROGRAM 
 (AS AMENDED EFFECTIVE MAY 12, 2015)
 
Directors who are employed by Anthem, Inc. or its subsidiaries do not receive compensation for serving as Directors.  However, Directors who are not employees of Anthem, Inc. or its subsidiaries are entitled to receive the following compensation:

CASH COMPENSATION—Retainers 
 
Annual Board Retainer: 
 
		
	•
	$95,000 for all Directors paid quarterly in advance (in four equal installments of $23,750) on January 1, April 1, July 1 and October 1. 

Annual Committee Retainer: 
 
		
	•
	$15,000 for Audit Committee members paid quarterly in advance (in four equal installments of $3,750) on January 1, April 1, July 1 and October 1. 

 
		
	•
	$10,000 for the members of each other Committee of the Board of Directors paid quarterly in advance (in four equal installments of $2,500) on January 1, April 1, July 1 and October 1. 

Annual Retainer for Non-Executive Chair of Board:

		
	•
	$225,000 for the Non-Executive Chair of Board paid quarterly in advance (in four equal installments of $56,250) on January 1, April 1, July 1 and October 1. 

 
Annual Retainer for Committee Chairs: 
 
		
	•
	$25,000 for the Chair of the Audit Committee of the Board of Directors paid quarterly in advance (in four equal installments of $6,250) on January 1, April 1, July 1 and October 1. 

 
		
	•
	$15,000 for the Chair of each other Committee of the Board of Directors paid quarterly in advance (in four equal installments of $3,750) on January 1, April 1, July 1 and October 1.   

 
If a Director is elected to the Board, appointed to a Committee or becomes the Non-Executive Chair of the Board or a Committee Chair on a date other than the first day of a calendar quarter, the retainers described above will be pro-rated based on days served in the applicable position.

STOCK COMPENSATION 
 
Annual Full Value Share Grant: 
 
Each Director will receive on the date of the Anthem, Inc. annual meeting of shareholders, subject to the deferral described below, an annual grant of a number of shares equal in value to $175,000 (the “Annual Full Value Share Grant”). The exact number of shares for each Annual Full Value Share Grant will be calculated using the following formula: 
 
[$175,000] ÷ [the closing price of the Anthem, Inc. common stock as reported on the New York Stock Exchange on the date of the annual meeting of shareholders] = Number of shares of the Annual Full Value Share Grant. 

 
Partial Value Share Grants:

Any Director who joins the Board of Directors after the date of the Anthem, Inc. annual meeting of shareholders (the “Effective Date”) shall receive a pro-rated share grant (the “Partial Value Share Grant”) on the first business day of the month following the Effective Date (unless the Effective Date is on the first business day of a month, in which case, the grant shall be made on the Effective Date).  The Partial Value Share Grant shall be subject to the deferral described below.  The exact number of shares of the Partial Value Share Grant will be calculated using the following formula: 
 
[$175,000 x (the number of days from the Effective Date to the first annual meeting of shareholders after the Effective Date ÷ 365)] ÷ the closing price of the Anthem, Inc. common stock as reported on the New York Stock Exchange on the first business day of the month following the Effective Date (unless the Effective Date is on the first business day of a month, in which case, the closing price on the Effective Date shall be used) = Number of shares of the Partial Value Share Grant. 

Deferral of Share Grants: 
  
Share grants will be deferred for a minimum period of five years from the (1) grant date for Annual Full Value Share Grants and (2) the date of the annual meeting of shareholders that immediately precedes the Effective Date for Partial Value Share Grants (each a “Deferral Period”) in accordance with the terms of the Director Deferred Compensation Plan.  Such grants shall not be distributed to the Directors until the earlier of the expiration of the Deferral Period or the date on which a Director ceases to be a member of the Board of Directors. 

     Director Ownership Guidelines: 
 
Each Director shall have the obligation to own at least $500,000 of Anthem, Inc. common stock (including deferred shares and phantom stock, but not options) commencing on the fifth anniversary of the date such Director became a member of the Board of Directors. 

MISCELLANEOUS 
 
Annual Physical Exam: 
 
Anthem, Inc. will pay the cost of an annual physical examination for each Director. 
 
Expenses: 
 
Anthem, Inc. will reimburse each Director for all travel, lodging and other expenses incurred in connection with attendance at and/or participation in any and all Board of Directors and Committee meetings and related matters.

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