Document:

Exhibit 10.3

 

March 19, 2021

 

 

Mr. J. Melville Engle

8778 E. 152nd Place

Thornton, CO 80602

 

Dear Mel:

 

On behalf of Predictive Oncology, Inc. (the “Company”), I am very pleased
to offer you the position of Chief Executive Officer of Predictive Oncology, Inc. This letter establishes the terms of your employment
with the Company if you accept this offer. You will remain Chairman of the Board unless otherwise determined by the Board or you
resign from that position.

 

If you accept this offer of employment, your effective start date will be March 20, 2021.
Your salary will be at an annualized level of $475,000 payable in accordance with the Company’s standard payroll practice
and subject to applicable withholding taxes. This amount is only subject to reduction in the event of an across-the-board reduction.
You will not receive additional compensation for being Chairman or a member of the Board.

 

You will be eligible to receive an annual bonus ranging up to 50% of base salary, or
at the Board’s discretion, a higher percentage based on your performance vs. annual MBO/Objectives. Your bonus for 2021 will
be prorated for the portion of the year during which you are employed by the Company. The Compensation Committee will be the evaluator
of your performance, will solicit input from you and various board members and will make the final decision on the bonus amount.

 

You will be entitled, during the term of your employment, to such vacation, medical and
other employee benefits as the Company may offer from time to time to its senior executive officers, subject to applicable eligibility
requirements. The Company reserves the right to make any modifications to this benefits package that it deems appropriate from
time to time. In your position as Chief Executive Officer, you will receive five weeks of vacation.

 

Each year, you will be granted Restricted Stock, with
the program to be structured to reward performance and result in officer retention. The annual Long-Term Incentive Plan (“LTIP”)
awards will each vest after three years (rolling) subject to continued employment, with the amount that vests to be based on two
or more measures of employment performance, including shareholder return (increase in common stock price and accomplishment of
profit budgets).

 

Based on your performance, an increased common stock price
(goal established at the commencement of each year’s grant) and continued employment over a 3-year period:

 

	 	1.	You will be granted 100,000 Restricted Stock shares on January 1st of each calendar year (3-year vesting). The
first award will be made effective March 19, 2021, the date of employment, or such later time as shareholder approval is obtained
as described below.
	 	 	 
	 	2.	These award amounts may be adjusted from year-to-year so that
the targeted values of LTIP awards represent the appropriate percentage of total compensation
	 	 	 
	 	3.	
If advantageous for tax planning or other reasons, these awards may be restricted stock units (RSUs) rather than Restricted
Stock.

 

     

     

    

 

You would also be eligible for grants of stock options or other equity awards at the
discretion of the Compensation Committee.

 

Any grants of equity awards, including those above, will be made from the Company’s
Amended and Restated 2012 Stock Incentive Plan (the “2012 Plan’) or successor plans. There must be sufficient shares
available under the plan reserve for any of these grants, meaning that some of these grants may be subject to obtaining shareholder
approval of an increase to the plan reserve. There are currently only 554,000 shares available under the 2012 Plan, meaning that
the grants of the awards described above may not be made until shareholder approval of an amendment to the 2012 Plan to increase
the share reserve. If shareholder approval is necessary for the Restricted Stock or RSU awards described above and is not obtained
during the calendar year in which an award is required to be made, the Company may pay a cash award of equivalent value.

 

If you accept our offer of employment, you will be an employee-at-will, meaning that
either you or the Company may terminate our relationship at any time for any reason, with or without cause. If your employment
is terminated without cause (to be defined in the Employment Agreement), you will receive 12 months salary as severance.

 

If you accept employment with the Company, this offer letter, in conjunction with an
Employment Agreement that embodies substantially the same terms, will set forth the terms of your employment. This letter and Employment
Agreement will supersede any previous discussions or offers, no matter what their source. Any future modifications of or additions
to the terms set forth in this letter or your Employment Agreement will be of no effect unless in writing and signed by you and
an officer of the Company.

 

I hope that you will accept this offer and look forward to a productive and mutually
beneficial working relationship. Please let me know if I can answer any questions for you about any of the matters outlined in
this letter.

 

Sincerely,

 

/s/ Charles L. Nuzum

 

Charles L. Nuzum

On Behalf of the Compensation Committee

 

 

ACCEPTANCE

 

I accept employment with Predictive Oncology, Inc. under the terms set forth in this
letter:

 

	 	 
	 	 	 
	Signed:	/s/ J. Melville Engle	 
	 	 	 
	 	March 19, 2021Exhibit
4.1

 

	NUMBER	UNITS

 

U-

 

SEE REVERSE FOR CERTAIN DEFINITIONS

 

CUSIP
[ ]

 

GATEWAY
STRATEGIC ACQUISITION CO.

 

UNITS
CONSISTING OF ONE CLASS A ORDINARY SHARE AND ONE-HALF OF ONE REDEEMABLE

WARRANT, EACH WHOLE WARRANT ENTITLING THE HOLDER TO PURCHASE ONE CLASS A ORDINARY SHARE

 

THIS CERTIFIES
THAT                is the owner of               Units of Gateway Strategic Acquisition Co., a Cayman Islands exempted company (the “Company”),
transferrable on the books of the Company in person or by duly authorized attorney upon surrender of this certificate properly
endorsed.

 

Each
Unit (“Unit”) consists of one (1) Class A ordinary share, par value $0.0001 per share (“Ordinary
Share”), of the Company and one-half of one redeemable warrant (each whole warrant, a “Warrant”).
Each Warrant entitles the holder to purchase one Ordinary Share (subject to adjustment) for $11.50 per share (subject to adjustment).
Each Warrant will become exercisable on the later of (i) thirty (30) days after the Company’s completion of a merger, share
exchange, asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses (each
a “Business Combination”), or (ii) twelve (12) months from the closing of the Company’s initial
public offering, and will expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after
the date on which the Company completes its initial Business Combination, or earlier upon redemption or liquidation (the “Expiration
Date”). The Ordinary Shares and Warrants comprising the Units represented by this certificate are not transferable
separately prior to               , 2021, unless Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. elect to allow separate
trading earlier, subject to the Company’s filing of a Current Report on Form 8-K with the Securities and Exchange Commission
containing an audited balance sheet reflecting the Company’s receipt of the gross proceeds of the Company’s initial
public offering and issuing a press release announcing when separate trading will begin. No fractional Warrants will be issued
upon separation of the Units. The terms of the Warrants are governed by a Warrant Agreement, dated as of                , 2021 (the “Warrant
Agreement”), between the Company and Continental Stock Transfer & Trust Company, as Warrant Agent, and are subject
to the terms and provisions contained therein, all of which terms and provisions the holder of this certificate consents to by
acceptance hereof. Copies of the Warrant Agreement are on file at the office of the Warrant Agent at [1 State Street, 30th Floor,
New York, New York 10004], and are available to any Warrant holder on written request and without cost.

 

    1 

     

    

 

This certificate
is not valid unless countersigned by the Transfer Agent and registered by the Registrar of the Company.

 

This certificate
shall be governed by and construed in accordance with the internal laws of the State of New York.

 

Witness the
facsimile signature of a duly authorized signatory of the Company.

 

	 	
	 	Authorized Signatory 
	 	 
	 	Transfer Agent

 

    2 

     

    

 

Gateway Strategic Acquisition Co.

 

   The Company will furnish without charge to each unitholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional or other special rights of each class of equity or series thereof of the Company and the qualifications, limitations, or restrictions of such preferences and/or rights.  

 

The following abbreviations, when used in the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable laws or regulations:  

 

	TEN COM — as tenants in common	UNIF GIFT MIN A — 	 	  
	 	 	 
	 	CT 	Custodian   	 
	 	 	 	 
	 		(Cust)

 

	TEN ENT — as tenants by the entireties	 	 
	 	 	(Minor)
	 	 	 
	 	Under Uniform Gifts to Minors Act  
	 	 
	JT TEN     — as joint tenants with right of survivorship and not as tenants in common	(State)

 

Additional abbreviations may also be used though not in the above list.

 

 For value received,           hereby sell, assign and transfer unto

 

  (PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING NUMBER OF ASSIGNEE)

 

  (PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING ZIP CODE, OF ASSIGNEE)  

 

Units represented by the within certificate, and do hereby irrevocably constitute and appoint Attorney to transfer the said Units on the books of the within named Company with full power of substitution in the premises.

 

  Dated  

 

	 	Notice 	The signature to this assignment must correspond
    with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change
    whatever.
	 
	Signature(s) Guaranteed:  	 
	 	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND
CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 UNDER THE
SECURITIES EXCHANGE ACT OF 1934, AS AMENDED (OR ANY SUCCESSOR RULE)).  	 
	 

    3 

     

    

 

As
more fully described in, and subject to the terms and conditions described in, the Company’s final prospectus for its initial
public offering dated           , 2021, the holder(s) of this certificate shall be entitled to receive a pro-rata portion of certain funds
held in the trust account established in connection with the Company’s initial public offering in the event that (i) the
Company redeems the Ordinary Shares sold in its initial public offering and liquidates because it does not consummate an initial
Business Combination within the time period set forth in the Company’s Amended and Restated Memorandum and Articles of Association,
as the same may be amended from time to time, or (ii) if the holder(s) properly redeem for cash his, her or its respective Ordinary
Shares included in the Units represented by this certificate in connection with (x) a tender offer (or proxy solicitation, solely
in the event the Company seeks shareholder approval of the proposed initial Business Combination) setting forth the details of
a proposed initial Business Combination or (y) a shareholder vote to amend the Company's Amended and Restated Memorandum and Articles
of Association (A) to modify the substance or timing of the Company’s obligation to allow redemption in connection with our
initial business combination or to redeem 100% of the Ordinary Shares if it does not consummate an initial Business Combination
within the time set forth in the Company’s Amended and Restated Memorandum and Articles of Association or (B) with respect
to any other material provisions relating to shareholders’ rights or pre-initial Business Combination activity, as the same
may be amended from time to time. In no other circumstances shall the holder(s) have any right or interest of any kind in or to
the trust account.

 

    4

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