Document:

EX-10.1

 Exhibit 10.1 

SEPARATION AGREEMENT AND GENERAL RELEASE 

THIS SEPARATION AGREEMENT AND GENERAL RELEASE (this “Agreement”), dated as of September 15, 2019, is effective as
of September 13, 2019 (the “Termination Date”) by and between Richard D. Holder (“Executive”) and NN, Inc., a Delaware Corporation (the “Company”). In consideration of the payments and benefits
described in Section 2 below to be provided to Executive, the sufficiency of which is acknowledged hereby, Executive and the Company agree as follows: 

1. Termination Date. Executive’s employment with the Company terminated on the Termination Date. Executive hereby resigns as
President, Chief Executive Officer and as a member of the board of directors of the Company and from all other positions as a director and/or officer with the Company, its subsidiaries and its affiliates (the “Company Group”), if
any, effective as of the Termination Date. Executive confirms and agrees that he has not since the Termination Date taken, and shall not from the date hereof take, any actions on behalf of the Company Group, including acting as an agent of the
Company Group. In addition, Executive acknowledges that as of the Termination Date, he has not represented himself to be an employee, officer, director, agent or representative of the Company Group for any purpose, has not directed the work of any
employee of the Company Group, or made any management decisions, or undertaken to commit the Company Group to any course of action in relation to third persons. 

2. Termination Payments and Benefits. 

(a) Severance. Subject to (i) Executive’s execution of this Agreement and the effectiveness of the release of claims set forth
in Section 5 below (the “Release”) following the expiration of the Revocation Period without Executive’s having revoked the Release and (ii) Executive’s continued compliance with Paragraphs 8, 9, 10, 11 and 12 of
the Executive Employment Agreement between Executive and the Company, dated May 8, 2013 (the “Employment Agreement”), as amended pursuant to Section 8 hereof, the Company shall pay to Executive as severance compensation
(“Severance”), (i) $681,731.50, payable in a lump sum on the first regularly scheduled payroll date following the Release Effective Date (as defined below), (ii) $504,500, payable on the first regularly scheduled payroll date
following March 14, 2020 (the “Specified Employee Payment Date”) and (iii) $504,500, payable in accordance with the Company’s regular payroll procedures over the six-month period
following the Specified Employee Payment Date. 
 (b) Accrued Obligations. The Company shall also pay and provide the Executive with
his Accrued Obligations. For purposes of this Agreement, Executive’s “Accrued Obligations” shall consist of the following: (i) accrued and unpaid base salary and accrued and unused paid time off
through the Termination Date; (ii) accrued and vested benefits under any employee retirement plan (including 401(k)) in which the Executive participates, in accordance with applicable plan terms; and (iii) unreimbursed business expenses
incurred through the termination date, in accordance with the Company’s business expense reimbursement policy. Any benefits accrued or earned will be distributed in accordance with the terms of the applicable benefit plans and programs of the
Company Group. Executive confirms that he has received all of his Accrued Obligations due and payable as of the date of this Agreement. 

 (c) COBRA. Executive and his eligible dependents shall be entitled to continue
participating in the Company’s group medical, dental, and other health benefit coverages as required under the health care continuation requirements of the Consolidated Omnibus Reconciliation Act of 1985 (“COBRA”), provided
Executive timely elects such coverage and pays the full monthly premium for COBRA coverage. 
 (d) Treatment of Equity.
Notwithstanding the terms of any outstanding award agreement between you and the Company, (i) you will receive accelerated vesting of 52,496 restricted shares of Company common stock and (ii) your currently vested stock options to purchase
125,000 shares of Company common stock will remain outstanding and exercisable until the tenth anniversary of the applicable date of grant. For the avoidance of doubt, all remaining outstanding equity granted to you under any of the Company
Group’s equity incentive plans will be forfeited as of the Termination Date. 
 (e) No Further Rights. Following the Termination
Date, except as set forth in this Section 2, Executive shall have no further rights to any compensation or any other benefits from the Company or any of its affiliates. 

3. Return of Company Property. As of the date of this Agreement, Executive represents that he has returned to the Company (and has not
recreated, or delivered to anyone else) all of the records and property of the Company that were in Executive’s possession or over which Executive had direct or indirect control, including, but not limited to, all confidential information,
files, monies, records, files, credit cards, office keys, office access cards, passwords, laptops, parking access cards and electronically encoded information (such as computer disks and flash drives) and all copies of such records and property. You
may retain your Company- provided ipad and cellular telephone (including telephone number); provided, that you provide such items to the Company, as requested by the Company, to remove all proprietary and/or confidential information and documents in
any form belonging to the Company Group. 
 4. No Admission. Neither this Agreement nor anything in this Agreement shall be construed
to be or shall be admissible in any proceeding as evidence of an admission by the Company or Executive of any violation of the Company’s policies or procedures, or state or federal laws or regulations. This Agreement may be introduced, however,
in any proceeding to enforce the Agreement. Such introduction shall be pursuant to an order protecting its confidentiality, except insofar as a court declines to enter any such order. 

5. Release. 
 (a)
General. In consideration of the Severance payments, Executive, for and on behalf of Executive and Executive’s heirs, administrators, executors, and assigns, effective as of the Release Effective Date (as defined below), does fully and
forever waive and release, remise, and discharge each member of the Company Group, its members, or partners, and each of its and their respective current, past, and future directors, partners, members, employees, advisors and agents (collectively,
the “Released Parties”) from any and all claims that Executive had, may have had, or now has against the Released Parties collectively or any of the Released Parties individually, for or by reason of any matter, cause, or thing
whatsoever, including but not limited to any claim arising out of or attributable to Executive’s employment or the termination of Executive’s employment with the Company, and also including but not limited to claims of

  
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breach of contract, wrongful termination, unjust dismissal, defamation, libel, or slander, or claims under any federal, state, or local law dealing with discrimination based on age, race, sex,
national origin, handicap, religion, disability, sexual preference, or any other protected class or characteristic. This release of claims includes, but is not limited to, all claims arising under the Age Discrimination in Employment Act of 1967
(the “ADEA”), Title VII of the Civil Rights Act, the Americans with Disabilities Act, the Civil Rights Act of 1991, the Family Medical Leave Act, the Equal Pay Act, Chapter 95, Articles 49A and 49B of Chapter 143, or Chapter 168A of
the North Carolina General Statutes, and any other federal, state, and local labor and anti-discrimination law, the common law, and any other purported restriction on an employer’s right to terminate the employment of employees. Notwithstanding
any provision of this Release to the contrary, by executing this Release, Executive is not releasing any claims to the Severance. 
 (b)
Release of Unknown Claims. It is the intention of Executive in executing this Agreement that the Release shall be effective as a bar to each and every claim, demand and cause of action hereinabove specified. Executive acknowledges that
Executive may hereafter discover claims or facts in addition to or different from those which Executive now knows or believes to exist with respect to the subject matter of this Release and which, if known or suspected at the time of executing this
Release, may have materially affected this settlement. Nevertheless, Executive hereby waives any right, claim or cause of action that might arise as a result of such different or additional claims or facts. Executive acknowledges that Executive
understands the significance and consequence of such release. 
 (c) No Proceedings. Except as provided in Section 10(a) of this
Agreement, Executive represents that Executive has not filed or permitted to be filed against any of the Released Parties, individually or collectively, any lawsuit, complaint, charge, proceeding, or the like, before any local, state, or federal
agency, court, or other body (each, a “Proceeding”), and Executive covenants and agrees that Executive will not do so at any time hereafter with respect to the subject matter of the Release and claims released pursuant to the
Release (including, without limitation, any claims relating to the termination of Executive’s employment), except as may be necessary to enforce the Release or Executive’s rights to Severance under this Agreement, to seek a determination
of the validity of the waiver of Executive’s rights under the ADEA, or to initiate or participate in an investigation or proceeding conducted by the Equal Employment Opportunity Commission (“EEOC”). Except as otherwise provided
in the preceding sentence or in Sections 5(d) or 10(a) of this Agreement, (i) Executive will not initiate or cause to be initiated on Executive’s behalf any Proceeding, and will not participate (except as required by law) in any Proceeding
of any nature against any of the Released Parties individually or collectively that in any way involves the allegations and facts that Executive could have raised against any of the Released Parties individually or collectively as of the date hereof
and (ii) Executive waives any right Executive may have to benefit in any manner from any relief (monetary or otherwise) arising out of any Proceeding. 

(d) Forfeiture of Award from Proceedings. Executive agrees that Executive shall forfeit and not accept any award, damages, recovery or
settlement from any Proceeding brought by Executive or on Executive’s behalf pertaining to Executive’s employment, separation or otherwise. Nothing herein shall preclude Executive’s right to receive an award from a Governmental Entity
(as defined below) for information provided under any whistleblower program. 

  
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 6. Release Acknowledgements. Executive expressly represents and acknowledges that:

 (a) the Company has advised Executive to consult with legal counsel, Executive has had the opportunity to seek the advice of legal counsel
of Executive’s own choice, Executive has read this Agreement and the Release and has had the opportunity to have this Agreement and the Release explained to Executive by legal counsel, and the terms and conditions hereof are fully understood
and voluntarily accepted by Executive; 
 (b) Executive is specifically agreeing to the terms of the Release because the Company has agreed
to pay Executive compensation, which Executive was not otherwise entitled under the Company’s policies or any agreement between the Company and Executive (in the absence of providing the Release), and the Company has agreed to provide the
compensation because of Executive’s agreement to accept the compensation in full settlement of all possible claims Executive might have or ever had, and because of Executive’s execution of this Agreement; 

(c) the offer to accept the terms of this Agreement is open for 21 days from the date Executive receives this Agreement, provided, that, should
Executive sign this Agreement within 21 days of the date that the Agreement was received by Executive, then Executive’s choice not to wait for the full 21-day period to expire was made knowingly and
voluntarily, and was in no way induced by the Company by means of intimidation, fraud, duress, or any other threat to withdraw the terms offered under this Agreement; 

(d) Executive shall have the right to revoke the Release for a period of seven days following Executive’s execution of this Agreement (the
“Revocation Period”), by giving written notice of such revocation to Matthew S. Heiter, Senior Vice President and General Counsel, at 6210 Ardrey Kell Road, Charlotte, NC 28277, or by email at matt.heiter@nninc.com on or before
5:00 p.m. Eastern time on the last day of the Revocation Period; and 
 (e) the Company’s obligations under Section 2
(other than the Accrued Obligations) shall not become effective until the eighth day following Executive’s execution of this Agreement, provided Executive has not revoked the Release during the Revocation Period (the “Release Effective
Date”). 
 7. Remedies. Executive understands and agrees that if Executive breaches any provision of this Agreement or any
provision of Employment Agreement that survives Executive’s termination of employment with the Company, in addition to any other legal or equitable remedies the Company may have, the Company shall be entitled to cease making any payments to
Executive under Section 2 above (other than the Accrued Obligations), and Executive shall reimburse the Company for all such payments made to Executive prior to such breach and the reasonable attorneys’ fees and costs incurred by the
Company arising out of any such breach and to enforce such reimbursement. The remedies set forth in this paragraph shall not apply to any challenge to the validity of the waiver and release of Executive’s rights under the ADEA. In the event
Executive challenges the validity of the waiver and release of Executive’s rights under the ADEA, then the Company’s right to attorneys’ fees and costs shall be governed by the provisions of the ADEA, so that the Company may recover
such fees and costs if the 

  
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lawsuit is brought by Executive in bad faith. Any such action permitted to the Company by this paragraph, however, shall not affect or impair any of Executive’s obligations under this
Agreement, including without limitation, the Release. Executive further agrees that nothing herein shall preclude the Company from recovering attorneys’ fees, costs, or any other remedies specifically authorized under applicable law 

8. Restrictive Covenants. Executive represents that Executive has not violated any of the provisions in Paragraphs 8, 9, 10, 11 and 12
of the Employment Agreement (which is incorporated by reference and made a part hereof). Executive hereby acknowledges and reaffirms his obligations under Paragraphs 8, 9, 10, 11 and 12 of the Employment Agreement following the Termination Date;
provided, that, (i) in consideration of the payments and benefits described in Section 2 hereof, the sufficiency of which is acknowledged hereby, Executive and the Company agree that the term “competing business”, as used in the
Employment Agreement, shall be amended and restated in its entirety such that the term “competing business” as used in the Employment Agreement shall mean: “a business that engages in the production, sale, or marketing of a product or
service that is substantially similar to, or serves the same purpose as, any product or service produced, sold or marketed by the Company or any parent, subsidiary or affiliate of the Company with which Executive interacted or about which Executive
gained Confidential Information and/or trade secrets during his employment with the Company” and (ii) the non-competition covenant in Paragraph 10 of the Employment Agreement shall apply for 12
months following the Termination Date. Executive agrees that he will not make any statements, written or verbal, that are detrimental, derogatory or disparaging concerning the Company or any member of the Company Group, or concerning any current or
former directors, officers, or employees of the Company or any member of the Company Group. 
 9. Entire Agreement; Assignment. This
Agreement, together with the Employment Agreement, sets forth the entire agreement and understanding between the parties as to the subject matter hereof and supersedes all prior and contemporaneous oral and/or written discussions, agreements and
understandings of any kind or nature. This Agreement, and all of Executive’s rights and duties hereunder, shall not be assignable or delegable by Executive. Any purported assignment or delegation by Executive in violation of the foregoing shall
be null and void ab initio and of no force and effect. This Agreement may be assigned by the Company to a person or entity which is a successor in interest to substantially all of the business operations of the Company
(“Successor”). Upon such assignment, the obligations of Executive shall inure to the benefit of such Successor and the rights and obligation of the Company hereunder shall become the rights and obligations of such Successor. 

10. Certain Permissible Disclosures and Communications. 

(a) Securities Exchange Act Rule 21F-17. Nothing in this Agreement, including Sections 5, 7 and 8, shall prohibit or impede the
Executive from communicating, cooperating or filing a complaint with any U.S. federal, state or local governmental or law enforcement branch, agency or entity (collectively, a “Governmental Entity”) with respect to possible
violations of any U.S. federal, state or local law or regulation, or otherwise making disclosures to any Governmental Entity, in each case, that are protected under the whistleblower provisions of any such law or regulation, provided that in each
case such communications and disclosures are consistent with applicable law. Executive does not need the prior authorization of (or to give notice to) the Company regarding any such communication or disclosure. 

  
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 (b) Defend Trade Secrets Act. Executive hereby confirms that Executive understands
and acknowledges that an individual shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that is made (i) in confidence to a federal, state, or local government official
or to an attorney solely for the purpose of reporting or investigating a suspected violation of law, or (ii) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Executive understands and
acknowledges further that an individual who files a lawsuit for retaliation by an employer for reporting a suspected violation of law may disclose the trade secret to the attorney of the individual and use the trade secret information in the court
proceeding, if the individual files any document containing the trade secret under seal; and does not disclose the trade secret, except pursuant to court order. 

(c) Notwithstanding the foregoing provisions in this Section 10, under no circumstance will Executive be authorized to disclose any
information covered by the Company’s attorney-client privilege or the Company’s attorney work product (i) without prior written consent of the Company’s General Counsel or other officer designated by the Company, or
(ii) unless such disclosure of that information would otherwise be permitted pursuant to 17 CFR 205.3(d)(2), applicable state attorney conduct rules, or otherwise under applicable law or court order. 

11. Cooperation. You agree that you will provide reasonable cooperation to the Company and/or any other member of the Company Group and
its or their respective officers, members of the board of directors and counsel in connection with any investigation, administrative proceeding or litigation relating to any matter that occurred during your employment in which you were involved or
of which you have knowledge. The Company agrees to reimburse you for reasonable out-of-pocket expenses incurred at the request of the Company with respect to your
compliance with this Section 11. You agree that, in the event you are subpoenaed by any person or entity (including, but not limited to, any Governmental Entity) to give testimony or provide documents (in a deposition, court proceeding or
otherwise) which in any way relates to your employment by the Company and/or any other member of the Company Group, you will give prompt notice of such request to the Company’s General Counsel and will make no disclosure until the Company
and/or the other member of the Company Group have had a reasonable opportunity to contest the right of the requesting person or entity to such disclosure. 

12. Severability. In the event that any one or more of the provisions of this Agreement or the Employment Agreement are determined to be
or become invalid, illegal or unenforceable in any respect, in any jurisdiction, by a court of competent jurisdiction, in a final judgment to which no further appeal can be made, such judgment shall not affect such provisions in any other
jurisdiction or any other provisions of this Agreement, the validity, legality and enforceability of which shall not be affected thereby and Executive agrees that the court making such determination shall have the power to strike or reform such
provision to the maximum and/or broadest duration, scope, and/or area permissible by law, and, as so reformed, such provision shall then be enforceable. 

  
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 13. Governing Law, Jurisdiction and Venue. THIS AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES THEREOF. EACH PARTY TO THIS AGREEMENT HEREBY IRREVOCABLY
SUBMITS TO THE EXCLUSIVE JURISDICTION OF ANY FEDERAL OR STATE COURT SITTING IN DELAWARE WITH RESPECT TO ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT AND EACH OF THE PARTIES AGREES THAT ANY ACTION RELATING IN ANY WAY TO
THIS AGREEMENT MUST BE COMMENCED ONLY IN THE COURTS OF DELAWARE, FEDERAL OR STATE. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED OR NOT PROHIBITED BY LAW, ANY OBJECTION WHICH IT MAY NOW OR HEREAFTER HAVE TO
THE LAYING OF THE VENUE OF ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT AND ANY CLAIM THAT ANY SUCH SUIT, ACTION OR PROCEEDING BROUGHT IN SUCH A COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. EACH PARTY TO THIS AGREEMENT HEREBY
IRREVOCABLY CONSENTS TO THE SERVICE OF PROCESS IN ANY SUIT, ACTION OR PROCEEDING BY SENDING THE SAME BY CERTIFIED MAIL, RETURN RECEIPT REQUESTED, OR BY RECOGNIZED OVERNIGHT COURIER SERVICE. EACH PARTY TO THIS AGREEMENT ALSO HEREBY WAIVES ANY RIGHT
TO TRIAL BY JURY IN CONNECTION WITH ANY SUIT, ACTION, OR PROCEEDING UNDER OR IN CONNECTION WITH THIS AGREEMENT. 
 14. Counterparts.
This Agreement may be executed in counterparts, and each counterpart, when executed, shall have the efficacy of a signed original. Photographic copies of such signed counterparts may be used in lieu of the originals for any purpose. 

15. No Waiver. No waiver of any breach of any term or provision of this Agreement shall be construed to be, or shall be, a waiver of any
other breach of this Agreement. No such waiver shall be binding unless signed in writing by the party waiving the breach. 
 16.
Withholding Taxes. The Company may withhold from any amounts payable under this Agreement such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation. 

[Signature page follows] 

  
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 IN WITNESS WHEREOF, the undersigned have executed and delivered this Agreement 

this 15th day of September, 2019. 
  

	
	 /s/ Richard D. Holder

	Name: Richard D. Holder

  
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	NN, INC.
		
	By:	 	 /s/ Robert Brunner

		 	Robert Brunner, Chairman of the Board of Directors of NN, Inc.

  
 9exhibit101salariusmarkro

      August 26, 2019      Mark Rosenblum, CPA            Offer of Employment with Salarius Pharmaceuticals       Dear Mark,       Congratulations! Salarius Pharmaceuticals Inc. (or ''the Company" or "our Company") is   pleased to extend you this opportunity to work for our Company as Executive Vice   President Finance and Interim Chief Financial Officer reporting to David J. Arthur, Chief   Executive Officer.  This letter sets forth the information, compensation and benefits that are   being offered to you at this time. This is a full-time position and we generally expect your  work schedule to be normal business hours (i.e., scheduled during Monday through Friday  generally 8:00 am -5:00 pm). This position involves 10%-20% travel and will involve work  periods that exceed a normal Monday through Friday work schedule.    During the period from September 10th 2019 to March 31st 2020, Salarius will reimburse   and/or pay for reasonable travel and temporary living expenses as needed for you to work   in our Houston Texas office.      Should you determine that you are interested in this position and would like to commence   your full-time employment with our Company, we would like you to start on September   10th, 2019 in our Houston, Texas office.       You will be employed as an exempt at-will employee, receiving an annual salary of   $265,000.00 to be paid twice per month (generally on the 15th and 30th) installments by   direct deposit. In addition, you will be eligible for any employee equity and or bonus   programs established in 2019 and beyond.  You will also receive a minimum of a $19,300   2019 Bonus payable no later than March 1, 2020.  Should the Company implement a bonus   program for the calendar year 2019, you will receive a $19,300 in addition to the Company   bonus payment.  The $19,300 bonus is contingent on your continued employment with   Salarius through December 31st, 2019.  Should your employment end prior to December   31st 2019 at the decision of Salarius, you are still eligible to receive the $19,300 bonus.      You will also receive a minimum of a $14,500 Q1 2020 Bonus payable no later than May 1,   2020.  Should the Company implement a bonus program for the calendar year 2020, you   will receive a $14,500 in addition to the Company bonus payment.  The $14,500 bonus is   contingent on your continued employment with Salarius through March 31st, 2020.  Should  your employment end prior to March 31st 2020 at the decision of Salarius, you are still  eligible to receive the $14,500 bonus.      2450 Holcombe Boulevard, Suite J608, Houston, Texas 77021  •  346.772.0100 Ext 2346 www.salariuspharma.com                                                                                   

 

      As a regular full-time employee of the Company scheduled to work full-time, you will be  eligible to participate in all normal and customary Company benefits including the  Company's health insurance (medical and pharmacy), dental insurance, vision insurance  and 401(k) plans plus paid-time off subject to the specific eligibility requirements and  other criteria as set forth in the individual plan documents. You will be able to work   remotely as determined in conjunction with the CEO.  You will receive 20 days per year in   paid time off which is in addition to any company holidays.  Please be aware that all   Company benefits are subject to modification or elimination at the Company's discretion,   but in no event will you be treated differently than other senior executives at the   Company. .        While we hope that both you and the Company will find our professional relationship to be   mutually beneficial, your position remains at-will at all times, meaning that both you and   the Company will have the right to terminate your employment at any time, for any reason   or for no reason at all, with or without cause or notice. Nothing in this letter is intended to   create a contract of employment for any specified period of time.      Your employment with the Company will be governed by the Company's employment  policies as established by the Company from time to time. You will be expected to read,  understand and apply the policies related to your job. In addition, this offer is contingent  upon a successful background check and your agreement to enter into various agreements  covering confidentiality, assignment of intellectual property, non-compete, conflict of  interest and other applicable agreements as provided by the Company.       We are very excited and I am very excited about the possibility of your employment with   Salarius. Please sign the bottom of the copy of this letter indicating that you have received   this letter and accept the position, and then return the signed letter to me. This opportunity  and all terms of employment stated in this letter will expire if you have not returned a  signed copy of this letter to me on or prior to end of business, Friday August 30th, 2019.       Please review this letter carefully. If you should have any questions regarding this letter or   your potential employment with the Company, please do not hesitate to call me.          Sincerely,       /s/ David J. Arthur       David J. Arthur    Chief Executive Officer    Salarius Pharmaceuticals, Inc.         See signature page below                         2450 Holcombe Boulevard, Suite J608, Houston, Texas 77021  •  346.772.0100 Ext 2346             www.salariuspharma.com                                                                                  

 

    By signing and dating this letter below, I, Mark Rosenblum, indicate that I have received  and read this letter and accept the offer of employment for the Company as set forth, above.     Print Name: Mark Rosenblum              Signature:  /s/ Mark Rosenblum          Date:       9/11/2019                   2450 Holcombe Boulevard, Suite J608, Houston, Texas 77021  •  346.772.0100 Ext 2346             www.salariuspharma.com

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