Document:

EX-10.1

 Exhibit 10.1 
  

 

			
	  

Robert Weiskopf
	  	September 3, 2019

  
 Dear Robert, 

On behalf of Stealth BioTherapeutics Inc. (the “Company”), I am pleased to extend this offer to serve as Chief Financial Officer reporting to Reenie
McCarthy, Chief Executive Officer. This is a part-time, exempt position, and upon acceptance, this offer sets forth the terms of your employment with the Company. 

Your employment will begin on September 3, 2019. 
 You
shall perform those duties generally required of persons in this position, as well as such other duties, not inconsistent with this Agreement, as your manager may from time to time direct. You agree to abide by the rules, regulations, instructions,
personnel practices and policies of the Company and any changes therein that may be adopted from time to time by the Company. 
 This position includes a
modified schedule which allows you to devote approximately 50% of your full working time and effort each week to these duties, as per your request. We will review this schedule periodically to ensure that it continues to meet both the needs of the
business as well as your personal needs. 
 Your annual salary will be $190,000, (pro-rated from a full-time annual
salary of $380,000), based upon the above schedule, paid semi-monthly, subject to tax and other withholdings as required by law. Such salary may be adjusted from time to time in accordance with normal business practice and in the sole discretion of
the Company. However, if upon review, your schedule exceeds the aforesaid commitment, the proration will be adjusted accordingly. Subject to the approval of the Board of Directors of Stealth BioTherapeutics Corp (“Stealth”) you will be
granted an option to purchase 700,000 shares of the common stock of Stealth. The option will be subject to the terms and conditions applicable to options granted under Stealth’s 2019 Share Incentive Plan, as described in that plan and the
applicable incentive option agreement, which you will be required to sign. The exercise price per share will be equal to the fair market value per share on the date the option is granted. 

You will be eligible to receive a performance bonus each year, in an amount targeted at 30% of your salary. Your performance bonus will be based upon goals
mutually agreed upon by you and the Company. We expect that if a bonus is paid it will be made in the first quarter of 2020 with appropriate withholdings. Your performance bonus will be prorated in your first year of employment based on the time
employed that year. You must be employed at the time of the payout to receive any bonus. 
  
 

 
 

 

 

 
  

 Upon becoming an employee of the Company, you shall be entitled (to the extent you meet the eligibility
criteria under each program) to participate in all of the Company’s benefit programs that are offered to its employees at any time during any term of employment with the Company. You understand that the Company may amend, change or cancel any
policies or benefits at any time as allowed by law or by any applicable plan, agreement or arrangement representing or evidence such benefits. 
 You will
be required to execute an Invention and Non-Disclosure Agreement in the form attached as Exhibit A, as a condition of employment. You represent that you are not bound by any employment contract,
restrictive covenant or other restriction preventing you from entering into employment with or carrying out your responsibilities for the Company, or which is in any way inconsistent with the terms of this letter. 

You agree to provide to the Company, within three days of your hire date, documentation of your eligibility to work in the United States, as required by the
Immigration Reform and Control Act of 1986. You may need to obtain a work visa in order to be eligible to work in the United States. If that is the case, your employment with the Company will be conditioned upon your obtaining a work visa in a
timely manner as determined by the Company. 
 This letter shall not be construed as an agreement, either expressed or implied, to employ you for any stated
term, and shall in no way alter the Company’s policy of employment at will, under which both you and the Company remain free to terminate the employment relationship, with or without cause, at any time, with or without notice. Similarly,
nothing in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your employment with the Company. Regardless of the reason your relationship with the
Company terminates, you agree and acknowledge that you will continue to comply with the Invention and Non-Disclosure Agreement contemplated hereby following such termination. 

  
 

 
 

 

 If you agree with the employment provisions of this letter, please sign the enclosed duplicate of this
letter in the space provided below and return it to Mike Malynn, Human Resources Director. 
  

	
	 Very Truly Yours,

	
	 /s/ Henry Hess

	 Henry Hess
 Corporate Counsel

  

			
	 The foregoing correctly sets forth the terms of my

at-will employment by Stealth BioTherapeutics Inc.

		
	By:	 	 /s/ Robert Weiskopf

		 	Robert Weiskopf
	Date:	 	September 3, 2019Exhibit 4.6

 

SECOND AMENDMENT TO THE

TUCSON ELECTRIC POWER COMPANY

401(k) PLAN

 

Tucson Electric Power Company (the “Company”) maintains the Tucson Electric Power Company 401(k) Plan (the “Plan”).  The Plan was most recently amended and restated in its entirety effective as of January 1, 2015.  The Plan was subsequently amended on one occasion.  By this instrument, the Company intends to amend the Plan as set forth below.

 

1.                                      This Second Amendment shall be effective as of the date on which it is executed (the “Effective Date”).

 

2.                                      This Second Amendment amends only the provisions of the Plan as set forth herein, and those provisions not expressly amended by this Second Amendment shall continue in full force and effect.  Notwithstanding the foregoing, this Second Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions and the intent of this Second Amendment.

 

3.                                      Section 1.2 (Definitions) of the Plan is hereby amended by adding the following new definitions to the end thereof:

 

(zz) “Insider” shall mean any officer of UNS or any of its affiliates with the title of Vice-President or higher.

 

4.                                      Section 4.2(d) (Investment Funds; Accounts in General) of the Plan is hereby amended and restated to read as follows:

 

(d)                                 Effective as of September 4, 2018, the following special limitations on investment in Fortis Inc. Stock shall apply.

 

(1)                                 A Participant may not direct that more than 20% of his or her Compensation Deferral Contributions and/or Company Matching Contributions be invested in the Fortis Inc. Stock Fund.  As of the Effective Date, an Insider is prohibited from directing any amount of his or her Compensation Deferral Contributions and/or Company Matching Contributions into the Fortis Inc. Stock Fund; however, an Insider may direct the transfer of amounts from a Fund into the Fortis Inc. Stock Fund in

 

 

accordance with paragraph (2) and in accordance with the insider trading policy.

 

(2)                                 A Participant may not direct the transfer of amounts from a Fund into the Fortis Inc. Stock Fund if and to the extent that such transfer would cause the value of the Participant’s Fortis Inc. Stock Fund to exceed 20% of the total value of all of the Participant’s Accounts under the Plan as of the date the transfer is made.

 

(3)                                 If a Participant’s Fortis Inc. Stock Fund exceeds 20% of the total value of all of the Participant’s Accounts under the Plan, nothing in this paragraph (3) shall require the Participant to divest amounts in excess of 20% from the Participant’s Fortis Inc. Stock Fund.  Pursuant to paragraph (1) above, the Participant (other than an Insider) may not invest more than 20% of future Compensation Deferral Contributions and/or Company Matching Contributions in the Fortis Inc. Stock Fund.  Further, pursuant to paragraph (2) above, a Participant may not transfer amounts from another Fund to the Fortis Inc. Stock Fund unless and until the value of the Participant’s Fortis Inc. Stock Fund is less than 20% of the total value of the Participant’s Accounts under the Plan.

 

(4)                                 The amount of the Trust Fund’s assets that may be invested in Fortis Inc. Stock will be the amount selected by the Participants to be so invested.

 

(5)                                 The Committee and/or the Trustee may promulgate uniform and nondiscriminatory rules regarding the implementation and application of the limit on investment in the Fortis Inc. Stock Fund imposed by this subsection (d).

 

IN WITNESS WHEREOF, the Company has caused this Second Amendment to be executed by its duly authorized representative and the Union has caused this Second Amendment to be executed by the duly authorized representative of Local No. 1116, I.B.E.W. on this 30th day of October, 2018.

 

	
 
    	
TUCSON ELECTRIC POWER COMPANY
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ David G. Hutchens
    
	
 
    	
 
    	
Its:
    	
President and Chief   Executive Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
INTERNATIONAL BROTHERHOOD OF
    
	
 
    	
ELECTRICAL WORKERS LOCAL NO.   1116
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Charles Scott   Northrup
    
	
 
    	
 
    	
Its:
    	
Business Manager/Financial   Secretary IBEW 1116
    
	
 
    	
 
    	
 
    	
 
    

 

2Exhibit 4.7

 

THIRD AMENDMENT TO THE

TUCSON ELECTRIC POWER COMPANY

401(k) PLAN

 

Tucson Electric Power Company (the “Company”) maintains the Tucson Electric Power Company 401(k) Plan (the “Plan”).  The Plan was most recently amended and restated in its entirety effective as of January 1, 2015.  The Plan was subsequently amended on two separate occasions.  By this instrument, the Company intends to amend the Plan as set forth below.

 

1.                                      Except as set forth below, this Third Amendment shall be effective as of July 1, 2019.

 

2.                                      This Third Amendment amends only the provisions of the Plan as set forth herein, and those provisions not expressly amended by this Third Amendment shall continue in full force and effect.  Notwithstanding the foregoing, this Third Amendment shall supersede the provisions of the Plan to the extent those provisions are inconsistent with the provisions and the intent of this Third Amendment.

 

3.                                      Section 1.2(a) (Definitions — “Account” or “Accounts”) of the Plan is hereby amended and restated in its entirety to read as follows:

 

(a)                                 “Account” or “Accounts” shall mean a Participant’s Before-Tax Compensation Deferral Contributions Account, Roth Compensation Deferral Contributions Account, Company Matching Contributions Account, Rollover Account and any other accounts maintained on behalf of the Participant pursuant to Section 4.1 (Establishment of Accounts).

 

4.                                      Section 2.2(b)(2) (Eligible Automatic Contribution Arrangement — Uniformity Requirement) of the Plan is hereby amended and restated in its entirety to read as follows:

 

(2)                                 Default Compensation Deferral Contributions will be reduced or stopped to meet the limitations under Sections 401(a)(17), 402(g), and 415 of the Code.

 

 

5.                                      Section 4.1 (Establishment of Accounts) of the Plan is hereby amended by the addition of the following new sentence immediately following the second sentence:

 

The Committee also may establish such additional accounts and sub-accounts as are necessary or appropriate to reflect other amounts contributed to the Plan and/or transferred to the Plan from other plans.

 

6.                                      Section 5.2(c) (Withdrawals from the Plan — Hardship Distributions) of the Plan is hereby amended and restated in its entirety to read as follows:

 

(c)                                  Hardship Distributions.

 

(1)                                 General Rule.  Subject to guidelines promulgated by the Committee and the approval of the third-party administrator, a Participant may withdraw all or part of the Compensation Deferral Contributions (including earnings thereon), provided the distribution is made due to an immediate and heavy financial need and the distribution is necessary to satisfy the financial need.  The withdrawal may not be in excess of such immediate and heavy financial need (including amounts necessary to pay any federal, state, or local income taxes or penalties reasonably anticipated to result from the distribution).  If the Participant has both a Before-Tax Compensation Deferral Contributions Account and a Roth Compensation Deferral Contributions Account, the withdrawal will be taken from the Before-Tax Compensation Deferral Contributions Account and related earnings first.  No more than one withdrawal may be made in any Plan Year.  For the avoidance of doubt, a Participant may not withdraw any qualified nonelective contributions or qualified matching contributions made to the Participant’s account pursuant to this Section 5.2(c).

 

(2)                                 Immediate and Heavy Financial Need.  A distribution is deemed to be due to an immediate and heavy financial need if the distribution is for:

 

(i)                                    expenses for (or necessary to obtain) medical care described in Section 213(d) of the Code (determined without regard to whether the expenses exceed 7.5% of adjusted gross income), provided that if the recipient of the medical care is not listed in Section 213(a), the recipient is the Participant’s primary Beneficiary under the Plan;

 

(ii)                                costs directly related to the purchase (excluding mortgage payments) of a principal residence of the Participant;

 

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(iii)                            payment of tuition, related educational fees and room and board expenses for the next 12 months of post-secondary education for the Participant, or the Participant’s Spouse, child, the Participant’s primary Beneficiary, or the Participant’s other dependents (as defined in Section 152 of the Code without regard to Section 152(b)(1), (b)(2) and (d)(1)(B));

 

(iv)                             payments necessary to prevent the eviction of the Participant from the Participant’s principal residence or foreclosure on the mortgage of the Participant’s principal residence;

 

(v)                                 payments for burial or funeral expenses for the Participant’s deceased parent, Spouse, child, primary Beneficiary or dependent (as defined in Section 152 of the Code without regard to Section 152(d)(1)(B));

 

(vi)                             expenses for the repair of damage to the Participant’s principal residence that would qualify for the casualty deduction under Section 165 of the Code (determined without regard to Section 165(h) and whether the loss exceeds 10% of adjusted gross income); or

 

(vii)                         expenses and losses (including loss of income) incurred by the Participant on account of a disaster declared by the Federal Emergency Management Agency (“FEMA”) under the Robert T. Stafford Disaster Relief and Emergency Act, provided that the Participant’s principal residence or principal place of employment at the time of the disaster was located in an area designated by FEMA for individual assistance with respect to the disaster; and

 

(viii)                     any other circumstance or expense designated by the Commissioner of the Internal Revenue Service as a deemed immediate and heavy financial need in any published revenue ruling, notice or other document of general applicability.

 

For this purpose, a “primary Beneficiary” is an individual who is a Beneficiary under Section 1.2(d) (Definitions — Beneficiary or Beneficiaries) or Section 2.6 (Designation of Beneficiary), and who has an unconditional right to all or a portion of the Participant’s Account under the Plan upon the death of the Participant.

 

(3)                                 Necessity.  A withdrawal will be necessary to satisfy an immediate and heavy financial need of a Participant only if each of the following requirements are met:

 

(i)                                    the distribution is not in excess of the amount of the immediate and heavy financial need of the Participant

 

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(including any amounts necessary to pay any federal, state or local income taxes or penalties reasonably anticipated to result from the distribution);

 

(ii)                                to the extent required under applicable Treasury Regulations, the Participant has received all withdrawals (and prior to July 1, 2019, has taken all nontaxable loans) available to the Participant under the Plan and any other plans maintained by the Company or a Related Company; and

 

(iii)                            with respect to distributions made on or after January 1, 2020, the Participant has represented, to the extent required under applicable Treasury Regulations, that the Participant has insufficient cash or other liquid assets to satisfy the immediate and heavy financial need to which the hardship distribution relates.

 

7.                                      Section 5.3(d) (Distribution of Benefits — Form of Distribution) of the Plan is hereby amended and restated in its entirety to read as follows:

 

(d)                                 Form of Distribution.  Distribution of the Participant’s benefits will be made in-kind, subject to such limitations as may be prescribed by the Committee, or in cash.  Any distribution of Fortis Inc. Stock shall be subject to any procedures adopted by the Company, including any insider trading policy adopted by the Company.  A Participant who has had a Break in Employment or a Beneficiary or an alternate payee may elect to receive a distribution of benefits in one or more of the following methods:

 

(1)                                 Lump Sum Payment.  A single lump sum payment equal the balance in his or her Accounts.

 

(2)                                 Installment Payments.  Installment payments are available to a Beneficiary, alternate payee or Participant who either (1) incurs a severance from employment during the calendar year in which the Participant attains age 55 or later; or (2) incurs a severance from employment prior to age 55 and attains at least age 591⁄2 by the date the Participant elects to receive installment payments.  Such installments shall be in the form of monthly, quarterly, semi-annual or annual installments over a fixed period selected by the Participant, Beneficiary or alternate payee.  The amount of the installments may be fixed at the time of the first distribution or amounts of the installments may be determined by dividing the value of the Accounts as of the Valuation Date preceding the scheduled date of the installment by the remaining number of payments to be made, and until the Accounts of the Participant, Beneficiary or alternate payee are exhausted by such

 

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installment payment.  Until the Accounts are exhausted by such installment payments, the Accounts shall participate in the earnings and losses of the Trust Fund.  At any time following the commencement of installment payments hereunder, a Participant, Beneficiary or alternate payee may elect to change the frequency of the installments and/or the fixed period of time over which the installment distributions are received.

 

8.                                      Section 5.3(e)(2)(iii) (Distribution of Benefits — Minimum Distribution Requirements — Time and Manner of Distribution — Forms of Distribution) of the Plan is hereby amended by the addition of the following new sentence to the end thereof to read as follows:

 

A distribution required under this Section 5.3(e) may be taken in addition to any installment payments that are being made pursuant to Section 5.3(d)(2) (Distribution of Benefits — Form of Distribution).

 

9.                                      Section 5.6(b)(2) (Loans to Participants — Approval — Number of Loans) of the Plan is hereby amended and restated in its entirety to read as follows:

 

(2)                                 Number of Loans.  No more than one loan may be outstanding to a Participant under the Plan at any time.  Effective July 1, 2019, a Participant must wait for fifteen (15) days after repaying a loan before applying for a new loan.

 

IN WITNESS WHEREOF, the Company has caused this Third Amendment to be executed by its duly authorized representative and the Union has caused this Third Amendment to be executed by the duly authorized representative of Local No. 1116, I.B.E.W. on this 20th day of June, 2019.

 

	
 
    	
TUCSON ELECTRIC POWER COMPANY
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ David G. Hutchens
    
	
 
    	
 
    	
Its:
    	
President and Chief   Executive Officer
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
INTERNATIONAL BROTHERHOOD OF
    
	
 
    	
ELECTRICAL WORKERS LOCAL NO.   1116
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Charles Scott   Northrup
    
	
 
    	
 
    	
Its:
    	
Business   Manager/Financial Secretary IBEW 1116
    
	
 
    	
 
    	
 
    	
 
    

 

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