Document:

Document

Exhibit 10.11

April 8, 2021

Emilie Choi   

Dear Emilie: 

This letter agreement amends and restates the offer letter between you and Coinbase, Inc. (the “Company”), dated December 11, 2017 (the “Prior Agreement”) effective April 8, 2021.

You will continue to work in the role of President and Chief Operating Officer, reporting to Brian Armstrong.

1.Cash Compensation. In this position, the Company will pay you an annual base salary payable in accordance with the Company’s standard payroll schedule.  Your pay will be periodically reviewed as a part of the Company’s regular reviews of compensation. 

2.Signing Bonus. You will continue to be eligible to receive any unpaid portion of the signing bonus set forth in the Prior Agreement in accordance with its terms (the “Signing Bonus”), less any amounts paid as of the date of this letter agreement.

3.Employee Benefits.  You will continue to be eligible to participate in a number of Company-sponsored benefits to the extent that you comply with the eligibility requirements of each such benefit plan.  The Company, in its sole discretion, may amend, suspend or terminate its employee benefits at any time, with or without notice. 

4.Termination Benefits.  You will continue to be eligible to receive certain change in control and severance payments and benefits under the Company’s Change of Control and Severance Policy (the “Severance Policy”) and the participation letter between you and the Company, dated September 16,  2019 (the “Participation Letter”), in each case, attached to this offer letter as Exhibit A.

5.Confidentiality Agreement. By signing this letter agreement, you reaffirm the terms and conditions of the Confidential Information, Invention Assignment and Arbitration Agreement by and between you and the Company. 

6.No Conflicting Obligations. You understand and agree that by signing this letter agreement, you represent to the Company that your performance will not breach any other agreement to which you are a party and that you have not, and will not during the term of your employment with the Company, enter into any oral or written agreement in conflict with any of the provisions of this letter or the Company’s policies. You are not to bring with you to the Company, or use or disclose to any person associated with the Company, any confidential or proprietary information belonging to any former employer or other person or entity with respect to which you owe an obligation of confidentiality under any agreement or otherwise. The Company does not need and will not use such information and we will assist you in any way possible to preserve and protect the confidentiality of proprietary information belonging to third parties. Also, we expect you to abide by any obligations to refrain from soliciting any person employed by or otherwise associated with any former employer and suggest that you refrain from having any contact with such persons until such time as any non-solicitation obligation expires. 

7.Outside Activities. While you render services to the Company, you agree that you will not engage in any other employment, consulting or other business activity without the written consent of the Company. In addition, while you render services to the Company, you will not assist any person or entity in competing with the Company, in preparing to compete with the Company or in hiring any employees or consultants of the Company. 

8.Equal Employment Opportunity. The Company is an equal opportunity employer and conducts its employment practices based on business needs and in a manner that treats employees and applicants on the basis of merit and experience. The Company prohibits unlawful discrimination on the basis of race, color, religion, sex, pregnancy, national origin, citizenship, ancestry, age, physical or mental disability, veteran 
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status, marital status, domestic partner status, sexual orientation, or any other consideration made unlawful by federal, state or local laws.
9.General Obligations. As an employee, you will be expected to continue to adhere to the Company’s standards of professionalism, loyalty, integrity, honesty, reliability and respect for all. You will also be expected to continue to comply with the Company’s policies and procedures. The Company is an equal opportunity employer. 

10.At-Will Employment. Your employment with the Company continues to be for no specific period of time. Your employment with the Company will continue to be on an “at will” basis, meaning that either you or the Company may terminate your employment at any time for any reason or no reason. The Company also reserves the right to modify or amend the terms of your employment at any time for any reason. Any contrary representations which may have been made to you are superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, compensation and benefits, as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and the Company’s Board of Directors. 

11.Withholdings. All forms of compensation paid to you as an employee of the Company shall be less all applicable withholdings. 

12.Section 409A.      It is intended that all of the severance benefits and other payments payable under this letter agreement satisfy, to the greatest extent possible, the exemptions from the application of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code” and “Section 409A”) provided under Treasury Regulations 1.409A-1(b)(4), 1.409A-1(b)(5) and 1.409A-1(b)(9), and this letter agreement will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this letter agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A.  All payments and benefits that are payable upon a termination of employment hereunder shall be paid or provided only upon your “separation from service” from the Company (within the meaning of Section 409A). 

[Signature Page Follows]

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This letter agreement supersedes and replaces any prior understandings or agreements, whether oral, written or implied, between you and the Company regarding the matters described in this letter (other than the Severance Policy and Participation Letter), including, without limitation, the Prior Agreement. This letter will be governed by the laws of California, without regard to its conflict of laws provisions. 

Very truly yours, 
COINBASE, INC. 

/s/ Paul Grewal                                                  
By: Paul Grewal
Chief Legal Officer, Coinbase, Inc.
ACCEPTED AND AGREED: 
EMILIE CHOI 

/s/ Emilie Choi                                                   
Signature 

April 8, 2021                                                     
Date

[Signature Page to Amended and Restated Offer Letter]

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Exhibit A

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COINBASE GLOBAL, INC.
100 Pine Street, Suite 1250 San Francisco, CA 94111
September 16, 2019 

Emilie Choi

Re: Participation in Change of Control Severance Policy 

Dear Emilie:     

The purpose of this letter is to inform you that you have been designated by Coinbase Global, Inc., a Delaware corporation (the “Company ”), as a participant in the Company’s Change of Control Severance Policy, a copy of which is enclosed herewith (as in effect from time to time, the “Policy ”). Capitalized terms used in this letter but not otherwise defined herein have the meanings given to those terms in the Policy.

Subject to the terms and conditions of the Policy, if you undergo a COC Qualifying Termination and satisfy the Release Conditions (as well as the other terms and conditions set forth in the Policy), the Company will provide you the following amounts of severance benefits described in the Policy:

			
	Severance benefits under Section 2(a): 12 months
COBRA subsidization under Section 2(b): 12 months
Equity acceleration under Section 2(c): 100%

Your participation in the Policy is governed in all respects by the terms and conditions of the Policy, and in the event of any conflict between this letter and the Policy, the Policy will control.

Sincerely,
Coinbase Global, Inc.

/s/ Brain Armstrong                               
Brian Armstrong, Chief Executive Officer
Acknowledged and agreed,

/s/ Emilie Choi                                                  
Emilie Choi

9/16/2019                                                         (Date)Document

Exhibit 10.22

SCHEDULE OF CHANGE IN CONTROL EMPLOYMENT AGREEMENTS

In accordance with the Instructions to Item 601 of Regulation S-K, the Registrant has omitted filing Change in Control Employment Agreements by and between Glatfelter Corporation and the following employees as exhibits to the Form 10-K for the year ended December 31, 2021 because they are substantially identical to the Form of Change in Control Employment Agreement by and between Glatfelter Corporation and certain employees, which are filed as indicated below:

Exhibit 10(j) to the Form 10-K for the year ended December 31, 2008.

David C. Elder

Dante C. Parrini

Exhibit 10(q) to the Form 10-K for the year ended December 31, 2013.

Christopher W. Astley

Eileen L. Beck

Samuel L. Hillard

Wolfgang Laures

Ramesh Shettigar

Jill L. UreyDocument

                                                                                                                                Exhibit 4.1

DESCRIPTION OF THE REGISTRANT’S SECURITIES REGISTERED UNDER SECTION 12 OF THE
SECURITIES EXCHANGE ACT OF 1934

Teledyne Technologies Incorporated (“Teledyne”) has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) -  our common stock, par value $0.01 per share (the “Common Stock”).  Our Common Stock trades on the New York Stock Exchange under the symbol “TDY”.

Description of Common Stock

The following summary description sets forth some of the general terms and provisions of the Common Stock.  Because this is a summary description, it does not contain all of the information that may be important to you.  For a more detailed description of the Common Stock, you should refer to the provisions of our Restated Certification of Incorporation (the “Certificate of Incorporation”) and our Amended and Restated Bylaws (the “Bylaws”), each of which is an exhibit to the Annual Report on Form 10-K to which this description is an exhibit.

General

Under the Certificate of Incorporation, Teledyne is authorized to issue 140,000,000 shares of stock, consisting of 125,000,000 shares of Common Stock and 15,000,000 of preferred stock with a par value of $0.01 per share (the “Preferred Stock”).  Teledyne historically designated 1,250,000 shares of Series A Junior Participating Preferred Stock for issuance in connection with the exercise of rights under a now expired stockholder rights plan.   No shares of any Preferred Stock are currently issued and outstanding.   The Board of Directors has the authority alter, amend or repeal the Bylaws, subject to certain limitations set forth in the Bylaws.

No Preemptive, Redemption or Conversion Rights

Holders of shares of Common Stock have no preemptive rights to maintain their percentage of ownership in future offerings or sales of stock of Teledyne.  The Common Stock is not redeemable, is not subject to sinking fund provisions, does not have any conversion rights and is not subject to call.

Voting Rights

Holders of shares of Common Stock have one vote per share in all elections of directors and on all other matters submitted to a vote of stockholders of Teledyne.  Holders of shares of Common Stock do not have cumulative voting rights.

Dividend Rights

Subject to the preferences applicable to any outstanding shares of Preferred Stock, the holders of Common Stock are entitled to receive dividends, if any, as and when declared, from time to time, by our Board of Directors out of funds legally available therefor. 

Board of Directors

Teledyne has a classified Board of Directors.   The directors are classified, with respect to the time for which they severally hold office, into three classes: Class I, Class II and Class III.  Each class consists, as nearly as possible, of one-third of the whole number of directors.   Our Bylaws establish that the size of the whole Board of Directors shall consist of not less than four members and more than 12 members, with the exact number of directors to be fixed from time to time within such range by duly adopted resolution of the Board of Directors.  At each Annual Meeting of Stockholders the directors of the expiring class are elected to hold office for a term to expire at the third Annual Meeting of Stockholders after their election, or until his or her earlier resignation or removal, and until their respective successors are duly elected and qualified.   The alteration, amendment or repeal of the classified Board 

requires an amendment to the Bylaws and the Certificate of Incorporation.  To amend the classified Board provision of the Certificate of Incorporation requires the affirmative vote of at least 75% of the holders of Common Stock.

No Action by Stockholder Consent 

The Certificate of Incorporation prohibits action that is required or permitted to be taken at any annual or special meeting of stockholders from being taken by the written consent of stockholders without a meeting.

Power to Call Special Stockholder Meeting

Under Delaware law, a special meeting of stockholders may be called by our Board of Directors or by any other person authorized to do so in the certificate of incorporation or bylaws.  Pursuant to our Certificate of Incorporation, a special meeting of the stockholders may be called only by the Board of Directors pursuant to a resolution approved by a majority of the directors then in office, the Chairman of the Board or the Chief Executive Officer.  The Board of Directors may postpone, reschedule or cancel any previously scheduled special meeting.

Nomination of persons for election to our Board of Directors may be made at a special meeting of stockholders at which directors are to be elected pursuant to our notice meeting (1) by or at the direction of our Board of Directors or (2) by any stockholder of record at the time of the giving of notice of such meeting.  Nominations by a stockholder of persons for election to our Board of Directors may be made if the stockholder’s notice is delivered to the Secretary not earlier than the 90th day prior to the special meeting and not later than the 75th day prior to the special meeting or the 10th day following the day on which a public announcement is first made of the special meeting and the nominees proposed by the Board of Directors to be elected at the meeting.

Merger, Consolidation and Other Fundamental Changes

Our Certificate of Incorporation requires the affirmative vote of at least two-thirds of the outstanding shares of Common Stock to approve certain fundamental changes such as a merger, consolidation, sale of substantially all of our assets, dissolution, certain purchases by us or one of our subsidiaries of shares of our Common Stock or other assets from a person who owns beneficially a number of shares of our Common Stock that is greater than 15% of the outstanding shares of our Common Stock, and any and all associates and affiliates of such person (a “Significant Shareholder”), any merger of a Significant Shareholder into us or one of our subsidiaries, or any reclassification or recapitalization of us consummated within five years after a Significant Shareholder becomes such, if the result of such classification or recapitalization is to reduce the number of outstanding shares of our Common Stock or convert such shares into cash or other securities.  The supermajority voting requirement is not applicable if the fundamental change has been approved at a meeting of our Board of Directors by the vote of more than two-thirds of the incumbent directors.  

Liquidation, Dissolution or Similar Rights

Subject to the preferences applicable to any outstanding shares of Preferred Stock, upon liquidation, dissolution or winding up of the affairs of Teledyne, the holders of Common Stock will be entitled to participate equally and ratably, in proportion to the number of shares held, in the net assets of Teledyne available for distribution to holders of stock of Teledyne.

Forum Selection Clause

Under our Bylaws, unless Teledyne consents in writing to the selection of an alternative forum, the sole and exclusive forum for making certain types of claims shall be the Court of Chancery of the State of Delaware.  This provision applies to (1) any derivative action or proceeding brought on behalf of Teledyne, (2) any action asserting a claim of breach of fiduciary duty owed by any director, officer, employee or agent of Teledyne to Teledyne or Teledyne’s stockholders, (3) any action asserting a claim arising pursuant to any provision of the General Corporation Law of Delaware, the Certificate of Incorporation or Bylaws, (4) any action to interpret, apply, enforce or determine the validity of the Certificate of Incorporation or the Bylaws, or (5) any action asserting a claim governed by the internal affairs doctrine, in each case subject to the Delaware Court of Chancery having personal jurisdiction over the indispensable parties named therein.

Our Bylaws also provide that unless Teledyne consents in writing to the selection of an alternative forum, the federal district courts shall be the sole and exclusive forum for the resolution of any claims arising under the Securities Act of 1933, as amended.

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