Document:

eypt-ex101_27.htm

 

Exhibit 10.1

 

 

 

EMPLOYMENT AGREEMENT

 

This Amended and Restated Employment Agreement (hereinafter the “Agreement”) is made as of November 1, 2021, by and between Jay S. Duker, M.D., who currently resides at XXX (“Employee”) and EyePoint Pharmaceuticals, Inc. (formerly pSivida, Inc. and hereinafter together with its parent, subsidiary, and related or affiliated entities referred to as the “Company”), having its headquarters at 480 Pleasant Street, Suite A210, Watertown, Massachusetts 02472 (collectively the “Parties”).

 

Recitals

 

WHEREAS, the Parties previously entered into an employment agreement dated as of July 20, 2020 (the “2020 Agreement”);

 

WHEREAS, the Parties now wish to amend and restate the 2020 Agreement in its entirety to reflect the engagement of the Employee in the new role of Chief Operating Officer of the Company;

 

WHEREAS, the Employee desires to remain employed by and the Company desires to promote the Employee to be its Chief Operating Officer; and 

 

WHEREAS, the Company and Employee desire to set forth the terms and conditions under which the Company agrees to employ Employee and Employee agrees to be employed by the Company as its Chief Operating Officer;

 

Agreement

 

NOW, THEREFORE, in consideration of the mutual covenants contained herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound hereby, the Company and the Employee hereby agree as follows:

 

1.Position and Duties.

 

(a)Employee will continue to be employed pursuant to the 2020 Agreement until November 1, 2021 or such other date as the Company and Employee may agree (the "COO Start Date").  As of the COO Start Date, Employee will commence employment by the Company on a full time basis as its Chief Operating Officer, reporting to the President and Chief Executive 

 

 

 

Officer (“CEO”) of the Company. This is an exempt position. During Employee’s employment, Employee may be asked from time to time, to serve as a director or officer of one or more of the Company's subsidiaries, in each case, without further compensation. If Employee’s employment with the Company terminates for any reason, then concurrently with such termination, Employee will be deemed to have resigned from any director, officer, trustee, or other positions Employee may hold with the Company, the Company's subsidiaries, or any of their respective related committees, trusts, or other similar entities, in each case unless otherwise agreed in writing by the Company and Employee.

 

(b)Employee agrees to perform the duties of Employee’s position and such other duties as may reasonably be assigned to Employee consistent therewith from time to time. Employee also agrees that, while employed by the Company, Employee will devote Employee’s full business time and best efforts, business judgment, skill and knowledge to the advancement of the business interests of the Company and to the discharge of all assigned duties and responsibilities for them. Notwithstanding the preceding sentence, the Company acknowledges and agrees that, for the duration of the Term, Employee shall be permitted to continue to provide medical care and related services to Employee’s patients for a period of time not to exceed, on average, one (1) day per week (the “Physician Services”). Employee shall not be entitled to any additional compensation by the Company for the Physician Services, and the Company acknowledges and agrees that Employee shall be entitled to compensation from third parties for Employee’s provision of Physician Services.

 

(c)Employee agrees that, while employed by the Company, Employee will comply with all Company policies, practices and procedures and all codes of ethics or business conduct applicable to Employee’s position, as in effect from time to time.

 

2.Compensation and Benefits. During Employee’s employment, as compensation for all services performed by Employee for the Company and its subsidiaries and subject to Employee’s full performance of Employee’s obligations hereunder, the Company will provide Employee the following pay and benefits:

 

(a)Base Salary. The Company will pay Employee a base salary at the rate of $500,000 per year, payable in accordance with the regular payroll practices of the Company (as may be increased, from time to time, the "Base Salary").

 

(b)Bonus Compensation. For each fiscal year completed during Employee’s employment under this Agreement, Employee will be eligible for an annual cash bonus. Employee’s target bonus will be 50% of the Base Salary (the "Target Bonus"), with the actual amount of any such bonus being determined by the Board of Directors of the Company (the "Board") in its sole discretion, based on Employee’s performance and that of the Company against goals established by the Board (and for the goals based on Employee’s performance, agreed to by Employee) and consistent with any applicable plan or program documents and generally applicable Company policies. Employee’s bonus eligibility for calendar year 2021 will be subject to proration, using the terms of the 2020 Agreement to determine bonus eligibility from January 1, 2021 until the day prior to the COO Start Date, and with bonus eligibility for the remainder of calendar year 2021 subject to the Target Bonus and other terms described in this paragraph.  Except 

 

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as otherwise expressly provided in Section 4 hereof, Employee must be employed through the end of the fiscal year to which a bonus relates in order to earn the bonus. Subject to Section 4 of this Agreement, if Employee’s employment terminates, for any reason, prior to the end of the fiscal year to which a bonus relates, the bonus is not earned.

 

(c)COO Equity Grants; Cash Award. With effect from the COO Start Date, Employee will be granted (A) a new award of 305,000 options (“Options”) to purchase common stock (“Stock”) with time-based vesting (i) one-quarter on the first anniversary of the COO Start Date and (ii) in equal monthly installments thereafter until vested in full on the fourth anniversary of the Start Date; and (B) an award of a number of restricted stock units (“RSUs”) having a value of $175,000 as determined by the market closing price for the Stock on the business day immediately preceding the COO Start Date.  The forms of agreement for your COO equity grants is attached hereto as Exhibit 2(c), it being understood and agreed that, notwithstanding the wording of Section 2(b)(I)(i) of the hard-coded Executive Officer Award template shown in Exhibit 2(c), the words “three-month period” shown therein shall be replaced by the words “twelve-month period” in connection with this initial equity grant.  Further, COO shall receive a one-time, lump-sum cash award of $175,000 payable on the Company’s regular payroll date immediately following the COO Start Date (the “COO Sign-On Bonus”).  The COO Sign-On Bonus shall be subject to all applicable taxes and withholdings.  Further, in the event that, on or prior to the one (1) year anniversary of the COO Start Date, Employee terminates Employee’s employment with the Company without Good Cause, or the Company terminates Employee’s employment for Cause, the COO Sign-On Bonus (net of taxes and withholdings) shall be repaid to the Company in full within ten (10) business days of such employment termination.

 

(d)Equity and Other Long-Term Incentive Grants. Commencing with the next annual award of equity or other long-term incentives to senior executives following your Start Date, you will be eligible for grants of equity and other long-term awards as approved by the Compensation Committee of the Board of Directors based on prevailing market practices and commensurate with your position relative to grants to other senior executives of the Company.

 

(e)Participation in Employee Benefit Plans. Employee will be entitled to participate in all employee benefit plans from time to time in effect for senior employees of the Company generally, except to the extent such plans are duplicative of benefits otherwise provided to Employee under this Agreement (e.g., a severance pay plan).  Employee’s participation will be subject to the terms of the applicable plan documents and generally applicable Company polices, as the same may be in effect from time to time, and any other restrictions or limitations imposed by law.

 

(f)Vacations. Employee will be entitled to four (4) weeks of vacation per year, in addition to holidays observed by the Company.  Vacation will accrue monthly on a pro-rated basis. Vacation may be taken at such times and intervals as Employee shall determine, subject to the business needs of the Company. Vacation shall otherwise be subject to the policies of the Company, as in effect from time to time.

 

(g)Business Expenses. The Company will pay or reimburse Employee for all reasonable business expenses incurred or paid by Employee in the performance of Employee’s 

 

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duties and responsibilities for the Company, subject to any maximum annual limit and other restrictions on such expenses set by the Company and made known to Employee in writing, and to such reasonable substantiation and documentation as may be specified from time to time. Employee’s right to payment or reimbursement for business expenses hereunder shall be subject to the following additional rules: (i) the amount of expenses eligible for payment or reimbursement during any calendar year shall not affect the expenses eligible for payment or reimbursement in any other calendar year, (ii) payment or reimbursement shall be made not later than December 31 of the calendar year following the calendar year in which the expense or payment was incurred, and (iii) the right to payment or reimbursement is not subject to liquidation or exchange for any other benefit.

 

(h)Professional Fees. The Company will pay Employee’s reasonable and documented professional fees incurred by him related to the negotiation and preparation of this Agreement and related agreements and other documents in an aggregate amount not to exceed $10,000.

 

3.Termination of Employment. Employee’s employment under this Agreement shall continue until terminated pursuant to this Section 3.

 

(a)By the Company for Cause. The Company may terminate Employee’s employment for Cause upon notice to Employee setting forth in reasonable detail the nature of the Cause. The following as determined by the Board in its reasonable, good faith judgment, shall constitute "Cause" for termination: (i) material or willful failure to perform duties reasonably expected and/or requested of Employee (other than by reason of disability) if not cured within 30 days of written notice of such failure; (ii) material breach of this Agreement or any other agreement between Employee and the Company, including but not limited to the Confidential Information, Non-Disclosure, Non-Solicitation, Non-Compete and Rights to Intellectual Property Agreement if not cured within 30 days of receipt of written notice of such breach; (iii) commission of, or plea of nolo contendere to, a felony or other crime involving moral turpitude; (iv) commission of fraudulent or other illegal act in commission of Employee’s duties or otherwise with respect to the Company; (v) failure to adhere to moral and ethical business principles consistent with the Company’s Code of Business Conduct and/or policies in effect from time to time; or (vi) engaging in an act or series of acts constituting misconduct resulting in a misstatement of the Company's  financial statements due to material non-compliance with any financial reporting requirement within the meaning of Section 304 of the Sarbanes-Oxley Act of 2002; or (vii) other conduct that is or could reasonably be expected to be harmful to the interests or reputation of the Company.

 

(b)By the Company Without Cause. The Company may terminate Employee’s employment at any time other than for Cause upon thirty (30) days’ notice to Employee.

 

(c)By Employee for Good Cause. Employee may terminate Employee’s employment for Good Cause by (A) providing notice of such termination to the Company specifying in reasonable detail the condition giving rise to the Good Cause no later than the thirtieth (30th) day following Employee’s first becoming aware of such event or condition; and (B) providing the Company a period of (30) days to remedy the event or condition; and (C) written notice terminating Employee’s employment for Good Cause within fifteen (15) days following the expiration of the period to remedy if the Company fails to remedy the condition. The following, if occurring without 

 

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Employee’s express prior written consent, shall constitute "Good Cause" for termination by Employee: (i) a material diminution in the nature or scope of Employee’s position, duties, or authority (other than temporarily while Employee is physically or mentally incapacitated to such a degree that Employee would be eligible for disability benefits under the Company's disability income plan or as required by applicable law); (ii) a material reduction in the Base Salary or the Target Bonus percentage; (iii) a material breach by the Company of this Agreement, including the failure of the Company to grant the equity benefits described in Section 2(c) above; or (iv) a requirement by the Company that Employee relocate to a location more than thirty (30) miles from Watertown, Massachusetts.

(d)By Employee Without Good Cause. Employee may terminate Employee’s employment at any time without Good Cause upon thirty (30) days' notice to the Company. The Board may elect to waive such notice period or any portion thereof; but in that event, the Company shall pay Employee the Base Salary for that portion of the notice period so waived.

 

(e)Death and Disability. Employee’s employment hereunder shall automatically terminate in the event of Employee’s death during employment. In the event Employee becomes disabled during employment and, as a result, is unable to continue to perform substantially all of Employee’s duties and responsibilities under this Agreement, either with or without reasonable accommodation, the Company will continue to pay Employee the Base Salary and to provide Employee benefits in accordance with Section 2(c) above, to the extent permitted by plan terms, for up to twelve (12) weeks of disability during any period of three hundred sixty-five (365) consecutive calendar days. 

 

4.Other Matters Related to Termination.

 

(a)Final Compensation. In the event of termination of Employee’s employment with the Company, howsoever occurring, the Company shall pay Employee (i) the Base Salary for the final payroll period of Employee’s employment, pro-rated through the date that Employee’s employment terminates; (ii) compensation at the rate of the Base Salary for any accrued, unused vacation time; and (iii) reimbursement, in accordance with Section 2(e) hereof, for business expenses incurred by Employee but not yet paid to Employee as of the date Employee’s employment terminates; provided Employee submits all expenses and supporting documentation required within sixty (60) days of the date Employee’s employment terminates, and provided further that such expenses are reimbursable under Company policies as then in effect (all of the foregoing, "Final Compensation"). Except as otherwise provided in Section 5(a)(iii), Final Compensation will be paid to Employee within thirty (30) days following the date of termination (or such shorter period required by law).

 

(b)Severance Payments. In the event of any termination of Employee’s employment pursuant to Section 3(b) or Section 3(c) above, the Company will pay Employee, in addition to Final Compensation, (i) the Base Salary for the period of twelve (12) months from the date of termination, provided, however, that if such termination occurs within the thirty (30) days prior to, or within eighteen (18) months following, a Change of Control (a “CIC Termination”) the Company will instead pay you, in addition to Final Compensation, the Base Salary for the period of eighteen (18) months from the date of such CIC Termination; (ii) one times the Target Bonus, 

 

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payable in equal installments during the period of Base Salary continuation under clause (i); and (iii) provided you timely elect continuation coverage for yourself and your eligible dependents under the federal law known as “COBRA” or similar state law, a monthly amount that equals the portion of the monthly health premiums paid by the Company on your behalf and that of your eligible dependents immediately preceding the date that your employment terminates until the earlier of (A) the last day of the period of Base Salary continuation under clause (i) and (B) the date that you and your eligible dependents become ineligible for COBRA coverage pursuant to applicable law or plan terms.  The severance payments described in clauses (i) through (iii) above are referred to as the "Severance Payments". In the event a Change of Control occurs following the COO Start Date, and any options to purchase Stock or shares of restricted Stock held by Employee are assumed or substituted in such Change of Control, all such assumed or substituted options and restricted shares that remain outstanding and are not fully vested at the time of any subsequent termination of your employment pursuant to Section 3(b) or Section 3(c) shall immediately accelerate and vest in full upon such termination and the options will remain exercisable until the earlier of the first anniversary of the date of your employment termination (or three (3) months following the date of your employment termination in the case of any incentive stock options) and the last day of the option term (the “Equity Acceleration”).

(c)Conditions to and Timing of Severance Payments. Any obligation of the Company to provide Employee the Severance Payments and the Equity Acceleration is conditioned, however, on Employee’s cooperation in the transition of Employee’s duties and Employee’s execution and return to the Company of a Separation Agreement and General Release, which will include a release by Employee of all releasable claims relating to employment or separation from employment, reaffirmation of Employee’s obligations under the Confidential Information, Non-Disclosure, Non-Solicitation, Non-Compete and Rights to Intellectual Property Agreement, a twelve-month post-employment non-competition provision, and confidentiality, non-disparagement and cooperation obligations of the parties (the “Separation Agreement”) in a form  substantially similar to the form attached hereto as Exhibit 4(c).  The Separation Agreement must become binding and enforceable within 60 calendar days after Employee’s termination of employment.  Except as otherwise provided by this Agreement, or as may be mutually agreed by the parties, any Severance Payments to which Employee is entitled will be provided in the form of salary continuation, payable in accordance with the normal payroll practices of the Company. Unless otherwise provided by this Agreement, the first payment will be made on the Company's next regular payday following the effective date of the Severance Agreement and General Release; but that first payment shall include all amounts accrued retroactive to the day following the date Employee’s employment terminated.

 

(d)Benefits Termination. Except as provided in Section 4(b) above or under COBRA, Employee’s participation in all employee benefit plans, if applicable, shall terminate in accordance with the terms of the applicable benefit plans based on the date of termination of Employee’s employment, without regard to any continuation of the Base Salary or other payment to Employee following termination and Employee shall not be eligible to earn vacation or other paid time off following the termination of Employee’s employment.

 

(e)Assistance in Litigation. Employee agrees to reasonably cooperate with the Company in the defense or prosecution of any claims or actions that relate to events or occurrences 

 

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that transpired while Employee is or was employed by the Company. Employee’s cooperation includes, but is not limited to, being available to meet with counsel to prepare for discovery or trial and to act as a witness on behalf of the Company as requested at mutually convenient times. Employee’s cooperation also includes fully cooperating with the Company in connection with any investigation or review by any federal, state, or local regulatory authority as any such investigation or review relates to events or occurrences that transpired while Employee is or was employed by the Company. The Company shall pay Employee all expenses relating to such cooperation, and shall pay for his time at his then current consulting rate for all such cooperation (other than the execution and return of documents) during any period that the Company is not paying Employee wages or post-employment separation pay.

 

(f)Survival. Provisions of this Agreement shall survive any termination of employment if so provided in this Agreement or if necessary or desirable to accomplish the purposes of other surviving provisions, including without limitation each party’s obligations under Section 4. The obligation of the Company to make payments to Employee under Section 4(b), are expressly conditioned upon continued full performance of Employee’s obligations under Section 4 hereof. Upon termination by either Employer or the Company, all rights, duties and obligations of Employee and the Company to each other shall cease, except as otherwise expressly provided in this Agreement.

 

5.Timing of Payments and Section 409A.

 

(a)Notwithstanding anything to the contrary in this Agreement, if at the time Employee’s employment terminates, Employee is a "specified employee," as defined below, any and all amounts payable under this Agreement on account of such separation from service that would (but for this provision) be payable within six (6) months following the date of termination, shall instead be paid on the next business day following the expiration of such six (6) month period or, if earlier, upon Employee’s death; except (A) to the extent of amounts that do not constitute a deferral of compensation within the meaning of Treasury regulation Section l.409A-1(b) (including without limitation  by reason  of  a short-term  deferral  or the safe  harbor  set  forth  in Section  l.409A­ l (b)(9)(iii), as determined by the Company in its reasonable good faith discretion); (B) benefits which qualify as excepted welfare benefits pursuant to Treasury regulation Section l.409A­ l(a)(5); or (C) other amounts or benefits that are not subject to the requirements of, or satisfy an exception from treatment as deferred compensation under, Section 409A of the Internal Revenue Code of 1986, as amended ("Section 409A"). For purposes of this Agreement, all references to "termination of employment" and correlative phrases shall be construed to require a "separation from service" (as defined in Section l.409A-l(h) of the Treasury regulations after giving effect to the presumptions contained therein), and the term "specified employee" means an individual determined by the Company to be a specified employee under Treasury regulation Section l.409A-l(i).

 

(b)Each payment made under this Agreement shall be treated as a separate payment and the right to a series of installment payments under this Agreement is to be treated as a right to a series of separate payments.

 

 

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(c)In no event shall the Company have any liability relating to the failure or alleged failure of any payment or benefit under this Agreement to comply with, or be exempt from, the requirements of Section 409A.

 

6.Definitions. For purposes of this Agreement, the following definitions apply: "Change of Control" means

(a)The acquisition by any Person (defined for purposes of this definition as any individual, entity or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Securities Exchange Act of 1934, as amended ("Exchange Act")) of  beneficial  ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 35% or more of the common stock of the Company; provided, however, that for purposes of this subsection (A), an acquisition shall not constitute a Change of Control if it is: (i) either by or directly from the Company, or by an entity controlled by the Company, (ii) by any employee benefit plan, including any related trust, sponsored or maintained by the Company or an entity controlled by the Company ("Benefit Plan"), or (iii) by an entity pursuant to a transaction that complies with clauses (i), (ii) and (iii) of subsection (b) below; or Individuals who, as of the effective date of this Agreement, constitute the Board (together with the individuals  identified  in the proviso to  this subsection  (B), the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, however, that any individual becoming a director subsequent to the effective date of this agreement whose election, or nomination for election by the Company's stockholders, was approved by at least a majority of the directors then comprising the Incumbent Board shall be treated as a member of the Incumbent Board unless he or she assumed office as a result of an actual or threatened election contest with respect to the election or removal of directors or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board; or

 

(b)Consummation of a reorganization, merger or consolidation involving the Company, or a sale or other disposition of all or substantially all of the assets of the Company (a "Transaction"), in each case unless, following such Transaction, (i) all or substantially all of the Persons who were the beneficial owners of the common stock of the Company outstanding immediately prior to such Transaction beneficially own, directly or indirectly, more than 50% of the combined voting power of the then outstanding voting securities of the entity resulting from such Transaction (including, without limitation, an entity that as a result of such Transaction owns the Company or all or substantially all of the Company's assets either directly or through one or more subsidiaries) in substantially the same proportions as their ownership, immediately prior to such Transaction, of the outstanding common stock of the Company, (ii) no Person (excluding any entity or wholly-owned subsidiary of any entity resulting from such Transaction or any Benefit Plan of the Company or such entity or wholly-owned subsidiary of such entity resulting from such Transaction) beneficially owns, directly or indirectly, 35% or more of the combined voting power of the then outstanding voting securities of such entity except to the extent that such ownership existed prior to the transaction and (iii) at least a majority of the members of the board of directors or similar board of the entity resulting from such Transaction were members of the Incumbent Board at the time of the execution of the initial agreement, or of the action of the Board, providing for such Transaction; or

 

 

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(c)Approval by the stockholders of the Company of a liquidation or dissolution of the Company.

 

"Person" means an individual, a corporation, a limited liability company, an association, a partnership, an estate, a trust or any other entity or organization, other than the Company or any of its subsidiaries.

 

7.Conflicting Agreements. Employee hereby represents and warrants that the signing of this Agreement and the performance of Employee’s obligations under it will not breach or be in conflict with any other agreement to which Employee is a party or is bound, and that Employee is not subject to any covenants against competition or similar covenants or any court order that could affect the performance of Employee’s obligations under this Agreement. Employee agrees that Employee will not disclose to or use on behalf of the Company any confidential or proprietary information of a third party without that party's consent.

 

8.Withholding. All payments made by the Company under this Agreement shall be reduced by any tax or other amounts required to be withheld by the Company under applicable law.

 

9.Assignment. Neither Employee nor the Company may make any assignment of this Agreement or any interest in it, by operation of law or otherwise, without the prior written consent of the other; provided, however, the Company may assign its rights and obligations under this Agreement without Employee’s consent to one of its subsidiaries or to any Person with whom the Company shall hereafter effect a reorganization, consolidate or merge, or to whom the Company shall hereafter transfer all or substantially all of its properties or assets. This Agreement shall inure to the benefit of and be binding upon Employee and the Company, and each of its respective successors, executors, administrators, heirs and permitted assigns.

 

10.Severability. If any portion or provision of this Agreement shall to any extent be declared illegal or unenforceable by a court of competent jurisdiction, then the remainder of this Agreement, or the application of such portion or provision in circumstances other than those as to which it is so declared illegal or unenforceable, shall not be affected thereby, and each portion and provision of this Agreement shall be valid and enforceable to the fullest extent permitted by law.

 

11.Miscellaneous; Cross-Consideration. This Agreement sets forth the entire agreement between Employee and the Company, and replaces all prior and contemporaneous communications, agreements and understandings, written or oral, with respect to the terms and conditions of Employee’s employment, other than (a) the Confidential Information, Non-Disclosure, Non-Solicitation, Non-Compete and Rights to Intellectual Property Agreement dated November 1, 2021, a copy of which is attached as Exhibit 11 and incorporated herein by reference, and (b) any equity grants, agreements or plans, as each may be amended from time to time, relating to Employee’s service as a director or as an employee whether or not prior to the COO Start Date. Employee acknowledges that (i) Employee’s eligibility to receive Severance Payments and other benefits pursuant to Section 4(b) of this Agreement, and (ii) Employee’s receipt of the grant of stock options set forth in Section 2(c) of this Agreement are contingent upon Employee’s agreement to the non-competition provisions set forth in the Confidential Information, 

 

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Non-Disclosure, Non-Solicitation, Non-Compete and Rights to Intellectual Property Agreement. Employee further acknowledges that such consideration was mutually agreed upon by Employee and the Company, and is fair and reasonable in exchange for Employee’s compliance with such non-competition obligations. This Agreement may not be modified or amended, and no breach shall be deemed to be waived, unless agreed to in writing by Employee and an expressly authorized representative of the Board. 

 

12.Notice. Any notice required to, or permitted to, be given under this agreement shall be sufficient if in writing (a) delivered personally, (b) sent by first class certified mail, return receipt requested, postage and fees pre-paid, (c) sent by prepaid overnight delivery service, to the Parties at the following addresses (or at such other addresses as shall be specified by the Parties in a like notice); or (d) in a signed document attached to an e-mail.

 

			
	
 
	
If to Company:
	
EyePoint Pharmaceuticals, Inc.

	
 
	
 
	
480 Pleasant Street

	
 
	
 
	
Suite A-210

	
 
	
 
	
Watertown, MA 02472

	
 
	
 
	
Attention: Chief People Officer

	
 
	
 
	
E-mail:  jleonard@eyepointpharma.com

	
 
	
 
	
 

	
 
	
If to Employee:
	
Jay S. Duker, M.D.

	
 
	
 
	
XXX

 

All notices shall be deemed to have been given upon the business day of receipt.

 

13.Indemnification. During Employee’s employment, and for all periods thereafter for which he may be subject to liability for his acts or omissions to act with respect to his duties to the Company as an officer, the Company shall indemnify Employee pursuant to an Indemnification Agreement substantially in the form attached hereto as Exhibit 13.

 

14.Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the Commonwealth of Massachusetts, without regard to its conflicts of law provisions. Any claim arising out of, or relating to this Agreement including, without limitation, any action commenced by the Company for preliminary and permanent injunctive relief or other equitable relief, shall be instituted in any federal or state court in the Commonwealth of Massachusetts.  Each party agrees not to assert by way of motion, as a defense or otherwise, in any such claim, that such party is not subject personally to the jurisdiction of such court, that the claim is brought in an inconvenient forum, that the venue of the claim is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court.  Each party further irrevocably submits to the exclusive jurisdiction of such court in any such claim.  

 

Any and all service of process and any other notice in any such claim shall be effective against any party if given personally or by registered mail, return receipt requested, mailed to such party as provided herein. Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted by law.

 

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15.Usage. All pronouns and any variations thereof shall be considered to refer to the masculine, feminine or neuter, singular or plural, as the context may require. All terms defined in the Agreement in their singular or plural forms have correlative meanings when used herein in their singular or plural forms, respectively. Unless otherwise expressly provided the words “include” “includes” and “including” do not limit the preceding words or terms and shall be deemed followed by the words “without limitation.”

 

16.Headings. The headings in this Agreement are for reference only, and shall not affect the interpretation of this Agreement.

 

17.Counterparts. This Agreement may be executed by the parties hereto in separate counterparts, each of which when so executed and delivered shall be an original, but all such counterparts, together shall constitute one, and the same, instrument. Each counterpart may consist of a number of copies hereof each signed by less than all, but together signed by all of the parties hereto.

 

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the date first written above.

 

	
 
	
EyePoint Pharmaceuticals, Inc.
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 

	
By:
	
/s/Nancy Lurker
	
 
	
 
	
/s/Jay Duker
	
 

	
 
	
Nancy Lurker
	
 
	
 
	
Jay S. Duker, M.D.
	
 

	
 
	
President & CEO
	
 
	
 
	
 
	
 

	
 
	
Date:
	
10/13/2021
	
 
	
 
	
Date:
	
10/13/2021
	
 

 

 

 

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EXHIBIT 2(c)

 

Equity Grant Agreement

 

 

 

13

 

 

EXHIBIT 4(c)

 

Form of Separation and Release Agreement

 

 

 

 

 

EXHIBIT 11

 

Confidential Information, Non-Disclosure, Non-Solicitation, Non-Compete and

Rights to Intellectual Property Agreement

 

 

 

 

 

EXHIBIT 13

 

Indemnification AgreementExhibit 10.1

 

INVESTMENT MANAGEMENT TRUST AGREEMENT

 

This Investment Management
Trust Agreement (this “Agreement”) is made effective as of , 2021 by and between Green Visor Financial Technology
Acquisition Corp. I, a Cayman Islands exempted company (the “Company”), and Continental Stock Transfer &
Trust Company, a New York corporation (the “Trustee”).

 

WHEREAS, the Company’s
registration statement on Form S-1, File No. 333-                   (the “Registration Statement”) and prospectus (the “Prospectus”)
for the initial public offering of the Company’s units (the “Units”), each of which consists of one of
the Company’s Class A ordinary shares, par value $0.0001 per share (the “Ordinary Shares”), and one-half
of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one Ordinary Share (such initial public offering
hereinafter referred to as the “Offering”), has been declared effective as of the date hereof by the U.S. Securities
and Exchange Commission;

 

WHEREAS, the Company has entered
into an Underwriting Agreement (the “Underwriting Agreement”) with Mizuho Securities USA LLC, as the underwriter
(the “Underwriter”);

 

WHEREAS, if a Business Combination
(as defined herein) is not consummated within the initial 15-month period following the closing of the Offering, upon the request of the
Sponsor, the Company may extend such period by an additional three months for a total of up to 18 months, subject to the Company’s
sponsor (the “Sponsor”) or its affiliates or permitted designees depositing $1,500,000 (or up to $1,725,000
if the Underwriter’s over-allotment option is exercised in full) into the Trust Account no later than the 15-month anniversary of
the Offering (the “Deadline”) for such extension (the “Extension”), in exchange for
which the Sponsor will receive a non-interest bearing, unsecured promissory note for such Extension payable upon consummation of a Business
Combination; and

 

WHEREAS, as described in the
Prospectus, $153,000,000 of the proceeds of the Offering and the sale of the Private Placement Warrants (as defined in the Underwriting
Agreement) (or $175,950,000 if the Underwriter’s over-allotment option is exercised in full) and the proceeds from any loans in
connection with an Extension will be delivered to the Trustee to be deposited and held in a segregated trust account located at all times
in the United States (the “Trust Account”) for the benefit of the Company and the holders of the Ordinary Shares
included in the Units issued in the Offering as hereinafter provided (the amount to be delivered to the Trustee (and any interest subsequently
earned thereon) is referred to herein as the “Property,” the shareholders for whose benefit the Trustee shall
hold the Property will be referred to as the “Public Shareholders,” and the Public Shareholders and the Company
will be referred to together as the “Beneficiaries”);

 

WHEREAS, pursuant to the Underwriting
Agreement, a portion of the Property equal to $5,250,000, or $6,037,500 if the Underwriter’s over-allotment option is exercised
in full, is attributable to deferred underwriting discounts and commissions that will be payable by the Company to the Underwriter upon
the consummation of the Business Combination (as defined below) (the “Deferred Discount”); and

 

WHEREAS, the Company and the
Trustee desire to enter into this Agreement to set forth the terms and conditions pursuant to which the Trustee shall hold the Property.

 

NOW THEREFORE, IT IS AGREED:

 

    

     

    

 

1.                  
Agreements and Covenants of Trustee. The Trustee hereby agrees and covenants to:

 

(a)                
Hold the Property in trust for the Beneficiaries in accordance with the terms of this Agreement in the Trust Account established
by the Trustee located in the United States at J.P. Morgan Chase Bank, N.A. (or at another U.S. chartered commercial bank with
consolidated assets of $100 billion or more), maintained by Trustee and at a brokerage institution selected by the Trustee that is reasonably
satisfactory to the Company;

 

(b)               
Manage, supervise and administer the Trust Account subject to the terms and conditions set forth herein;

 

(c)                
 In a timely manner, upon the written instruction of the Company, invest and reinvest the Property in United States government
securities within the meaning of Section 2(a)(16) of the Investment Company Act of 1940, as amended, having a maturity of 185 days or
less, or in money market funds meeting the conditions of paragraphs (d)(1), (d)(2), (d)(3) and (d)(4) of Rule 2a-7 promulgated under the
Investment Company Act of 1940, as amended (or any successor rule), which invest only in direct U.S. government treasury obligations,
as determined by the Company; the Trustee may not invest in any other securities or assets, it being understood that the Trust Account
will earn no interest while account funds are uninvested awaiting the Company’s instructions hereunder; while account funds are
invested or uninvested the Trustee may earn bank credits or other consideration;

 

(d)               
Collect and receive, when due, all principal, interest or other income arising from the Property, which shall become part of the
 “Property,” as such term is used herein;

 

(e)                
Promptly notify the Company and the Underwriter of all communications received by the Trustee with respect to any Property requiring
action by the Company;

 

(f)                 
Supply any necessary information or documents as may be requested by the Company (or its authorized agents) in connection with
the Company’s preparation of the tax returns relating to assets held in the Trust Account or in connection with the preparation
or completion of the audit of the Company’s financial statements by the Company’s auditors;

 

(g)               
Participate in any plan or proceeding for protecting or enforcing any right or interest arising from the Property if, as and when
instructed by the Company to do so;

 

(h)               
Render to the Company monthly written statements of the activities of, and amounts in, the Trust Account reflecting all receipts
and disbursements of the Trust Account;

 

(i)                 
Commence liquidation of the Trust Account only after and promptly following (x) receipt of, and only in accordance with, the terms
of a letter from the Company (“Termination Letter”) in a form substantially similar to that attached hereto
as either Exhibit A or Exhibit B, as applicable, signed on behalf of the Company by its Chief Executive Officer, Chief Financial
Officer or other authorized officer of the Company, and complete the liquidation of the Trust Account and distribute the Property in the
Trust Account, including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its
income taxes, if any, (less up to $100,000 of interest to pay dissolution expenses), only as directed in the Termination Letter and the
other documents referred to therein, or (y) upon the date which is the later of (1) 15 months after the closing of the Offering, (2) such
later date upon an Extension effectuated pursuant to the terms hereof and (3) such later date as may be approved by the Company’s
shareholders in accordance with the Company’s amended and restated memorandum and articles of association, if a Termination Letter
has not been received by the Trustee prior to such date, in which case the Trust Account shall be liquidated in accordance with the procedures
set forth in the Termination Letter attached as Exhibit B and the Property in the Trust Account, including interest earned on the
funds held in the Trust Account and not previously released to the Company to pay its income taxes, if any, (less up to $100,000 of interest
to pay dissolution expenses), shall be distributed to the Public Shareholders of record as of such date;

 

(j)                 
Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit C (a “Tax Payment Withdrawal Instruction”), withdraw from the Trust Account and distribute
to the Company the amount of interest earned on the Property requested by the Company to cover any tax obligation owed by the Company
as a result of assets of the Company or interest or other income earned on the Property, which amount shall be delivered directly to the
Company by electronic funds transfer or other method of prompt payment, and the Company shall forward such payment to the relevant taxing
authority, so long as there is no reduction in the principal amount initially deposited in the Trust Account; provided, however,
that to the extent there is not sufficient cash in the Trust Account to pay such tax obligation, the Trustee shall liquidate such assets
held in the Trust Account as shall be designated by the Company in writing to make such distribution, so long as there is no reduction
in the principal amount per share initially deposited in the Trust Account (it being acknowledged and agreed that any such amount in excess
of interest income earned on the Property shall not be payable from the Trust Account). The written request of the Company referenced
above shall constitute presumptive evidence that the Company is entitled to said funds, and the Trustee shall have no responsibility to
look beyond said request;

 

    2

     

    

 

(k)               
 Upon written request from the Company, which may be given from time to time in a form substantially similar to that attached hereto
as Exhibit D (a “Shareholder Redemption Withdrawal Instruction”), the Trustee shall distribute to the
remitting brokers on behalf of Public Shareholders redeeming Ordinary Shares the amount required to pay redeemed Ordinary Shares from
Public Shareholders pursuant to the Company’s amended and restated memorandum and articles of association; and

 

(l)                 
Not make any withdrawals or distributions from the Trust Account other than pursuant to subsections (i), (j) or (k)
above.

 

(m)              
Upon receipt of an extension letter (“Extension Letter”) substantially similar to Exhibit E hereto
at least five business days prior to the Deadline, signed on behalf of the Company by an executive officer, and receipt of the dollar
amount specified in the Extension Letter on or prior to the Deadline, follow the instructions set forth in the Extension Letter.

 

2.                  
Agreements and Covenants of the Company. The Company hereby agrees and covenants to:

 

(a)                
Give all instructions to the Trustee hereunder in writing, signed by the Company’s Chief Executive Officer, Chief Financial
Officer or other authorized officer of the Company. In addition, except with respect to its duties under Sections 1(i), (1)(j)
or (1)(k) hereof, the Trustee shall be entitled to rely on, and shall be protected in relying on, any verbal or telephonic advice
or instruction which it, in good faith and with reasonable care, believes to be given by any one of the persons authorized above to give
written instructions; provided that the Company shall promptly confirm such instructions in writing;

 

(b)               
Subject to Section 4 hereof, hold the Trustee harmless and indemnify the Trustee from and against any and all reasonable
and documented expenses, including reasonable counsel fees and disbursements, or losses suffered by the Trustee in connection with any
action taken by it hereunder and in connection with any action, suit or other proceeding brought against the Trustee involving any claim,
or in connection with any claim or demand, which in any way arises out of or relates to this Agreement, the services of the Trustee hereunder,
or the Property or any interest earned on the Property, except for expenses and losses resulting from the Trustee’s gross negligence,
fraud or willful misconduct. Promptly after the receipt by the Trustee of notice of demand or claim or the commencement of any action,
suit or proceeding, pursuant to which the Trustee intends to seek indemnification under this Section 2(b), it shall notify the
Company in writing of such claim (hereinafter referred to as the “Indemnified Claim”). The Trustee shall have
the right to conduct and manage the defense against such Indemnified Claim; provided that the Trustee shall obtain the consent
of the Company with respect to the selection of counsel, which consent shall not be unreasonably withheld. The Trustee may not agree to
settle any Indemnified Claim without the prior written consent of the Company, which such consent shall not be unreasonably withheld.
The Company may participate in such action with its own counsel;

 

(c)                
Pay the Trustee the fees set forth on Schedule A hereto, including an initial acceptance fee, annual administration fee
and transaction processing fee, which fees shall be subject to modification by the parties from time to time. It is expressly understood
that the Property shall not be used to pay such fees unless and until it is distributed to the Company pursuant to Sections 1(i),
(1)(j) or (1)(k) hereof. The Company shall pay the Trustee the initial acceptance fee and the first annual administration
fee at the consummation of the Offering. The Company shall not be responsible for any other fees or charges of
the Trustee except as set forth in this Section 2(c) and as may be provided in Section 2(b) hereof;

 

(d)               
In connection with any vote of the Company’s shareholders regarding a merger, share exchange, asset acquisition, share purchase,
reorganization or similar business combination involving the Company and one or more businesses (the “Business Combination”),
provide to the Trustee an affidavit or certificate of the inspector of elections for the shareholder meeting verifying the vote of such
shareholders regarding such Business Combination;

 

(e)                
Provide the Underwriter with a copy of any Termination Letter(s) and/or any other correspondence that is sent to the Trustee with
respect to any proposed withdrawal from the Trust Account promptly after it issues the same;

 

(f)                 
 Unless otherwise agreed between the Company and the Underwriter, ensure that any Instruction Letter (as defined in Exhibit
A) delivered in connection with a Termination Letter in the form of Exhibit A expressly provides that the Deferred Discount
is paid directly to the account or accounts directed by the Underwriter prior to any transfer of the funds held in the Trust Account to
the Company or any other person;

 

(g)               
Instruct the Trustee to make only those distributions that are permitted under this Agreement, and refrain from instructing the
Trustee to make any distributions that are not permitted under this Agreement;

 

(h)               
If the Company seeks to amend any provisions of its amended and restated memorandum and articles of association (A) to modify the
substance or timing of the Company’s obligation to provide holders of the Ordinary Shares the right to have their shares redeemed
in connection with the Company’s initial Business Combination (other than in respect of an Extension as contemplated hereby) or
to redeem 100% of the Ordinary Shares if the Company does not complete its initial Business Combination within the time period set forth
therein or (B) with respect to any other provision relating to the rights of holders of the Ordinary Shares (in each case, an “Amendment”),
the Company will provide the Trustee with a letter (an “Amendment Notification Letter”) in the form of Exhibit
D providing instructions for the distribution of funds to Public Shareholders who exercise their redemption option and properly tender
their shares in connection with such Amendment; and

 

    3

     

    

 

(i)                 
Within five (5) business days after the Underwriter exercises the over-allotment option (or any unexercised portion thereof) or
such over-allotment option expires, provide the Trustee with a notice in writing of the total amount of the Deferred Discount.

 

(j)                 
If applicable, issue a press release at least three days prior to the Deadline announcing that, at least five days prior to the
Deadline, the Company received notice from the Sponsor that the Sponsor intends to deposit funds into the Trust Account for extending
the Deadline and the Board has approved such Extension.

 

(k)               
Promptly following the Deadline, disclose whether or not the deadline for the Company to consummate a Business Combination has
been extended.

 

3.                  
Limitations of Liability. The Trustee shall have no responsibility or liability to:

 

(a)                
Imply obligations, perform duties, inquire or otherwise be subject to the provisions of any agreement or document other than this
Agreement and that which is expressly set forth herein;

 

(b)               
Take any action with respect to the Property, other than as directed in Section 1 hereof, and the Trustee shall have no
liability to any third party except for liability arising out of the Trustee’s gross negligence, fraud or willful misconduct;

 

(c)                
Institute any proceeding for the collection of any principal and income arising from, or institute, appear in or defend any proceeding
of any kind with respect to, any of the Property unless and until it shall have received written instructions from the Company given as
provided herein to do so and the Company shall have advanced or guaranteed to it funds sufficient to pay any expenses incident thereto;

 

(d)               
Change the investment of any Property, other than in compliance with Section 1 hereof;

 

(e)                
Refund any depreciation in principal of any Property;

 

(f)                 
Assume that the authority of any person designated by the Company to give instructions hereunder shall not be continuing unless
provided otherwise in such designation, or unless the Company shall have delivered a written revocation of such authority to the Trustee;

 

(g)                The
other parties hereto or to anyone else for any action taken or omitted by it, or any action suffered by it to be taken or omitted,
in good faith and in the Trustee’s best judgment, except for the Trustee’s gross negligence, fraud or willful
misconduct. The Trustee may rely conclusively and shall be protected in acting upon any order, notice, demand, certificate, opinion
or advice of counsel (including counsel chosen by the Trustee with written notification to the Company, which counsel may be the
Company’s counsel), statement, instrument, report or other paper or document (not only as to its due execution and the
validity and effectiveness of its provisions, but also as to the truth and acceptability of any information therein contained) which
the Trustee believes, in good faith and with reasonable care, to be genuine and to be signed or presented by the proper person or
persons. The Trustee shall not be bound by any notice or demand, or any waiver, modification, termination or rescission of this
Agreement or any of the terms hereof, unless evidenced by a written instrument delivered to the Trustee, signed by the proper party
or parties and, if the duties or rights of the Trustee are affected, unless it shall give its prior written consent thereto;

 

(h)               
Verify the accuracy of the information contained in the Registration Statement;

 

(i)                 
Provide any assurance that any Business Combination entered into by the Company or any other action taken by the Company is as
contemplated by the Registration Statement;

 

(j)                 
File information returns with respect to the Trust Account with any local, state or federal taxing authority or provide periodic
written statements to the Company documenting the taxes payable by the Company, if any, relating to any interest income earned on the
Property;

 

(k)               
Prepare, execute and file tax reports, income or other tax returns and pay any taxes with respect to any income generated by, and
activities relating to, the Trust Account, regardless of whether such tax is payable by the Trust Account or the Company, including, but
not limited to, income tax obligations, except pursuant to Section 1(j) hereof; or

 

(l)                 
Verify calculations, qualify or otherwise approve the Company’s written requests for distributions pursuant to Sections
1(i), (1)(j) or (1)(k) hereof.

 

4.                  
Trust Account Waiver. The Trustee has no right of set-off or any right, title, interest or claim of any kind (“Claim”)
to, or to any monies in, the Trust Account, and hereby irrevocably waives any Claim to, or to any monies in, the Trust Account that it
may have now or in the future. In the event the Trustee has any Claim against the Company under this Agreement, including, without limitation,
under Section 2(b) or Section 2(c) hereof, the Trustee shall pursue such Claim solely against the Company and its assets
outside the Trust Account and not against the Property or any monies in the Trust Account.

 

    4

     

    

 

5.                  
Termination. This Agreement shall terminate as follows:

 

(a)                
If the Trustee gives written notice to the Company that it desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee, pending which the Trustee shall continue to act in accordance with this Agreement. At such time
that the Company notifies the Trustee that a successor trustee has been appointed by the Company and has agreed to become subject to the
terms of this Agreement, the Trustee shall transfer the management of the Trust Account to the successor trustee, including but not limited
to the transfer of copies of the reports and statements relating to the Trust Account, whereupon this Agreement shall terminate; provided,
however, that in the event that the Company does not locate a successor trustee within ninety (90) days of receipt of the resignation
notice from the Trustee, the Trustee may submit an application to have the Property deposited with any court in the State of New York
or with the United States District Court for the Southern District of New York and upon such deposit, the Trustee shall be immune from
any liability whatsoever; or

 

(b)               
At such time that the Trustee has completed the liquidation of the Trust Account and its obligations in accordance with the provisions
of Section 1(i) hereof and distributed the Property in accordance with the provisions of the Termination Letter, this Agreement
shall terminate except with respect to Section 2(b).

 

6.                  
Miscellaneous.

 

(a)                 The
Company and the Trustee each acknowledge that the Trustee will follow the security procedures set forth herein with respect to funds
transferred from the Trust Account. The Company and the Trustee will each restrict access to confidential information relating to
such security procedures to authorized persons. Each party must notify the other party immediately if it has reason to believe
unauthorized persons may have obtained access to such confidential information, or of any change in its authorized personnel. In
executing funds transfers, the Trustee shall rely upon all information supplied to it by the Company, including, account names,
account numbers, and all other identifying information relating to a Beneficiary, Beneficiary’s bank or intermediary bank.
Except for any liability arising out of the Trustee’s gross negligence, fraud or willful misconduct, the Trustee shall not be
liable for any loss, liability or expense resulting from any error in the information or transmission of the funds.

 

(b)               
This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of New York, without giving
effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.

 

(c)                
This Agreement contains the entire agreement and understanding of the parties hereto with respect to the subject matter hereof.
Except for Section 1(i), 1(j) and 1(k) hereof (which sections may not be modified, amended or deleted without the
affirmative vote of at least sixty-five percent (65%) of the then outstanding Ordinary Shares and Class B ordinary shares, par value $0.0001
per share, of the Company, voting together as a single class; provided that no such amendment will affect any Public Shareholder
who has properly elected to redeem his or her Ordinary Shares in connection with a shareholder vote to amend this Agreement (x) to modify
the substance or timing of the Company’s obligation to allow redemptions in connection with the Company’s initial Business
Combination or an Amendment or to redeem 100% of its Ordinary Shares if the Company does not complete its initial Business Combination
within the time frame specified in the Company’s amended and restated memorandum and articles of association or (y) with respect
to any other provisions relating to shareholders’ rights or initial pre-Business Combinations activity, this Agreement or any provision
hereof may only be changed, amended or modified (other than to correct a typographical error) by a writing signed by each of the parties
hereto.

 

(d)               
The parties hereto consent to the jurisdiction and venue of any state or federal court located in the City of New York, State of
New York, for purposes of resolving any disputes hereunder. AS TO ANY CLAIM, CROSS-CLAIM OR COUNTERCLAIM IN ANY WAY RELATING TO THIS AGREEMENT,
EACH PARTY WAIVES THE RIGHT TO TRIAL BY JURY.

 

(e)                
Any notice, consent or request to be given in connection with any of the terms or provisions of this 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
by electronic mail or facsimile transmission:

 

    5

     

    

 

if to the Trustee, to:

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Francis Wolf and Celeste Gonzalez

Email:fwolf@continentalstock.com; cgonzalez@continentalstock.com

 

if to the Company, to:

 

Green Visor Financial Technology Acquisition Corp.
I

88 Kearny Street, Suite 850

San Francisco, CA 94108

Attn: Richard Kim

Email: rich@gvfintaci.com

 

in each case, with copies to:

 

Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, NY 10017

Attention: Mark Brod

Email: mbrod@stblaw.com

 

and

 

Simpson Thacher & Bartlett LLP

2475 Hanover Street

Palo Alto, CA 94304

Attention: Daniel N. Webb

Email: dwebb@stblaw.com

 

and

 

Mizuho Securities USA LLC

1271 Avenue of the Americas

New York, New York 10020

Attn:

Email:

 

and

 

Paul Hastings LLP

515 South Flower Street

Twenty-Fifth Floor

Los Angeles, CA 90071

Attn: Jonathan Ko

Email: Jonathanko@paulhastings.com

 

    6

     

    

 

(f)                 
 

 

(g)               
Each of the Company and the Trustee hereby represents that it has the full right and power and has been duly authorized to enter
into this Agreement and to perform its respective obligations as contemplated hereunder. The Trustee acknowledges and agrees that it shall
not make any claims or proceed against the Trust Account, including by way of set-off, and shall not be entitled to any funds in the Trust
Account under any circumstance.

 

(h)               
This Agreement is the joint product of the Trustee and the Company and each provision hereof has been subject to the mutual consultation,
negotiation and agreement of such parties and shall not be construed for or against any party hereto.

 

(i)                 
This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original, but all such counterparts
shall together constitute one and the same instrument. Delivery of a signed counterpart of this Agreement by facsimile or electronic transmission
shall constitute valid and sufficient delivery thereof. The words “execution,” “signed,” “signature,”
 “delivery,” and words of like import in or relating to this Agreement or any document to be signed in connection with this
Agreement shall be deemed to include electronic signatures, deliveries or the keeping of records in electronic form, each of which shall
be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based
recordkeeping system, as the case may be, and the parties hereto consent to conduct the transactions contemplated hereunder by electronic
means.

 

(j)                 
Each of the Company and the Trustee hereby acknowledges and agrees the Underwriter is a third-party beneficiary of this Agreement.

 

(k)               
 Except as specified herein, no party to this Agreement may assign its rights or delegate its obligations hereunder to any other
person or entity, without the written consent of the other party.

 

[Signature Page Follows]

 

    7

     

    

 

IN WITNESS WHEREOF,
the parties have duly executed this Investment Management Trust Agreement as of the date first written above.

 

	 	CONTINENTAL STOCK TRANSFER & TRUST COMPANY, as Trustee
	 	 	 
	 	By:	 
	 	Name: 	Francis Wolf
	 	Title: 	Vice President
	 	 	 
	 	GREEN VISOR FINANCIAL TECHNOLOGY ACQUISITION CORP. I
	 	 	 
	 	By: 	 
	 	Name:	 Richard Kim
	 	Title: 	Vice President and Chief Financial Officer

    8

     

    

 

SCHEDULE A

 

	Fee Item	 	Time and Method of Payment	 	Amount	 
	Initial acceptance fee	 	Initial closing of the offering by wire transfer	 	$	3,500.00	 
	Annual fee	 	First year, initial closing of the Offering by wire transfer; thereafter $10,000 on the anniversary of the effective date of the Offering by wire transfer or check	 	$	10,000.00	 
	Transaction processing fee for disbursements to Company under Sections 1(i), 1(j) and 1(k)	 	Billed by Trustee to Company under Section 1	 	$	250.00	 
	Paying Agent services as required pursuant to Section 1(i) and 1(k)	 	Billed to Company upon delivery of service pursuant to Section 1(i) and 1(k)	 	 	Prevailing rates	 

 

 

    

     

    

 

EXHIBIT A

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Mr. Wolf and Ms. Gonzalez:

 

		Re:	Trust Account - Termination Letter

 

Ladies and Gentlemen:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement between Green Visor Financial Technology Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (“Trustee”), dated as of [________], 2021 (the “Trust
Agreement”), this is to advise you that the Company has entered into an agreement with [_____] (the “Target
Business”) to consummate a business combination with the Target Business (the “Business Combination”)
on or about [insert date]. The Company shall notify you at least seventy-two (72) hours in advance of the actual date (or such shorter
time period as you may agree) of the consummation of the Business Combination (the “Consummation Date”). Capitalized
terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to commence to liquidate all of the assets of the Trust Account, and to transfer the
proceeds into the trust operating account at J.P. Morgan Chase Bank, N.A. (“J.P. Morgan”) to the effect that,
on the Consummation Date, all of the funds held in the Trust Account will be immediately available for transfer to the account or accounts
that the Underwriter (with respect to the Deferred Discount) and the Company shall direct on the Consummation Date. It is acknowledged
and agreed that while the funds are on deposit in said trust operating account at J.P. Morgan awaiting distribution, neither the Company
nor the Underwriter will earn any interest or dividends.

 

On the Consummation Date (i)
counsel for the Company shall deliver to you written notification that the Business Combination has been consummated, or will be consummated
substantially concurrently with your transfer of funds to the accounts as directed by the Company (the “Notification”),
and (ii) the Company shall deliver to you (a) a certificate of the Chief Executive Officer, Chief Financial Officer or other authorized
officer of the Company, which verifies that the Business Combination has been approved by a vote of the Company’s shareholders,
if a vote is held and (b) a joint written instruction signed by the Company and the Underwriter with respect to the transfer of the funds
held in the Trust Account, including payment of amounts owed to public shareholders who have properly exercised their redemption rights
and payment of the Deferred Discount directly to the account or accounts directed by the Underwriter from the Trust Account (the “Instruction
Letter”). You are hereby directed and authorized to transfer the funds held in the Trust Account immediately upon your receipt
of the Notification and the Instruction Letter, in accordance with the terms of the Instruction Letter. In the event that certain deposits
held in the Trust Account may not be liquidated by the Consummation Date without penalty, you will notify the Company in writing of the
same and the Company shall direct you as to whether such funds should remain in the Trust Account and be distributed after the Consummation
Date to the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related
to liquidating the Trust Account, your obligations under the Trust Agreement shall be terminated.

 

In the event that the Business
Combination is not consummated on the Consummation Date described in the notice thereof and we have not notified you on or before the
original Consummation Date of a new Consummation Date, then upon receipt by the Trustee of written instructions from the Company, the
funds held in the Trust Account shall be reinvested as provided in Section 1(c) of the Trust Agreement on the business day immediately
following the Consummation Date as set forth in such notice as soon thereafter as possible.

 

    A-1

     

    

 

	 	Very truly yours,
	 	 	 
	 	GREEN VISOR FINANCIAL TECHNOLOGY ACQUISITION CORP. I
	 	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 

 

cc: Deutsche Bank Securities Inc.

Mizuho Securities USA LLC

 

 

    A-2

     

    

 

 

EXHIBIT B

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Mr. Wolf and Ms. Gonzalez:

 

Re:Trust Account - Termination
Letter

 

Ladies and Gentlemen:

 

Pursuant to Section 1(i) of
the Investment Management Trust Agreement between Green Visor Financial Technology Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [_______], 2021 (the “Trust
Agreement”), this is to advise you that the Company has been unable to effect a business combination with a Target Business (the
 “Business Combination”) within the time frame specified in the Company’s Amended and Restated Memorandum
and Articles of Association, as described in the Company’s Prospectus relating to the Offering. Capitalized terms used but not defined
herein shall have the meanings set forth in the Trust Agreement.

 

In accordance with the terms
of the Trust Agreement, we hereby authorize you to liquidate all of the assets in the Trust Account and to transfer the total proceeds
into the trust operating account at J.P. Morgan Chase Bank, N.A. to await distribution to the Public Shareholders. The Company
has selected [           ] as the effective date for the purpose of determining
when the Public Shareholders will be entitled to receive their share of the liquidation proceeds. It is acknowledged that no interest
will be earned by the Company on the liquidation proceeds while on deposit in the trust operating account. You agree to be the Paying
Agent of record and, in your separate capacity as Paying Agent, agree to distribute said funds directly to the Company’s Public
Shareholders in accordance with the terms of the Trust Agreement and the Amended and Restated Memorandum and Articles of Association of
the Company. Upon the distribution of all the funds, net of any payments necessary for reasonable unreimbursed expenses related to liquidating
the Trust Account, your obligations under the Trust Agreement shall be terminated, except to the extent otherwise provided in Section
1(j) of the Trust Agreement.

 

	 	Very truly yours,
	 	 	 
	 	GREEN VISOR FINANCIAL TECHNOLOGY ACQUISITION CORP. I
	 	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 

 

cc: Deutsche Bank Securities Inc.

Mizuho Securities USA LLC

 

    B-1

     

    

 

EXHIBIT C

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Mr. Wolf and Ms. Gonzalez:

 

Re:Trust Account –
Tax Payment Withdrawal Instruction

 

Ladies and Gentlemen:

 

Pursuant to Section 1(j)
of the Investment Management Trust Agreement between Green Visor Financial Technology Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [________], 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the Company $[_____] of the interest income earned on the Property
as of the date hereof. Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

The Company needs such funds
to pay for the tax obligations as set forth on the attached tax return or tax statement. In accordance with the terms of the Trust Agreement,
you are hereby directed and authorized to transfer (via wire transfer) such funds promptly upon your receipt of this letter to the Company’s
operating account at:

 

[WIRE INSTRUCTION INFORMATION]

 

	 	Very truly yours,
	 	 	 
	 	GREEN VISOR FINANCIAL TECHNOLOGY ACQUISITION CORP. I
	 	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 

 

cc: Deutsche Bank Securities Inc.

Mizuho Securities USA LLC

 

    C-1

     

    

 

EXHIBIT D

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

1 State Street, 30th Floor

New York, NY 10004

Attn: Mr. Wolf and Ms. Gonzalez:

 

Re:Trust Account –
Shareholder Redemption Withdrawal Instruction

 

Ladies and Gentlemen:

 

Pursuant to Section 1(k) of
the Investment Management Trust Agreement between Green Visor Financial Technology Acquisition Corp. I (the “Company”)
and Continental Stock Transfer & Trust Company (the “Trustee”), dated as of [________], 2021 (the “Trust
Agreement”), the Company hereby requests that you deliver to the redeeming Public Shareholders on behalf of the Company
$[] of the principal and interest income earned on the Property as of the date hereof.
Capitalized terms used but not defined herein shall have the meanings set forth in the Trust Agreement.

 

Pursuant to Section 1(k) of
the Trust Agreement, this is to advise you that the Company has sought an Amendment. Accordingly, in accordance with the terms of the
Trust Agreement, we hereby authorize you to liquidate a sufficient portion of the Trust Account and to transfer $[____] of the proceeds
of the Trust Account to the trust operating account at [____] for distribution to the shareholders that have requested redemption of their
shares in connection with such Amendment.

 

	 	Very truly yours,
	 	 	 
	 	GREEN VISOR FINANCIAL TECHNOLOGY ACQUISITION CORP. I
	 	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 

cc: Deutsche Bank Securities Inc.

Mizuho Securities USA LLC

 

    D-1

     

    

 

EXHIBIT E

 

[Letterhead of Company]

 

[Insert date]

 

Continental Stock Transfer & Trust Company

One State Street, 30th Floor

New York, New York 10004

Attn: Mr. Wolf and Ms. Gonzalez.

 

Re: Trust Account Extension Letter

 

Ladies and Gentlemen:

 

Pursuant to Section 1(m) of
the Investment Management Trust Agreement between Green Visor Financial Technology Acquisition Corp. (“Company”) and Continental
Stock Transfer & Trust Company, dated as of [], 2021 (“Trust Agreement”), this is to advise you that the Company is
extending the time available to consummate a Business Combination for an additional three (3) months, from _______ to _________ (the “Extension”).

 

This Extension Letter shall serve as the notice
required with respect to the Extension prior to the Deadline. Capitalized words used herein and not otherwise defined shall have the meanings
ascribed to them in the Trust Agreement.

 

In accordance with the terms of the Trust Agreement,
we hereby authorize you to deposit $1,500,000 [(or up to $1,725,000 if the Underwriter’s over-allotment option was exercised in
full)], which will be wired to you, into the Trust Account investments upon receipt.

 

	 	Very truly yours,
	 	 	 
	 	GREEN VISOR FINANCIAL TECHNOLOGY ACQUISITION CORP. I.
	 	 	 
	 	By: 	 
	 	Name:	 
	 	Title:	 

 

	cc: 	Mizuho Securities USA LLC

 

    E-1

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