Document:

Exhibit

  

S&P Global Inc.

DIRECTOR DEFERRED STOCK OWNERSHIP PLAN

(Amended and restated effective as of January 1, 2017)
 
S&P Global Inc.
DIRECTOR DEFERRED STOCK OWNERSHIP PLAN
(Amended and restated effective as of January 1, 2017)

ARTICLE I
PURPOSE
The purposes of the Plan are to enable the Company to attract and retain qualified persons to serve as Directors, to enhance the equity interest of Directors in the Company, to solidify the common interests of its Directors and stockholders, and to encourage the highest level of Director performance by providing such Directors with a proprietary interest in the Company's performance and progress, by crediting them annually with shares of Common Stock.  The Plan is intended to satisfy the requirements of Section 409A of the Code.

ARTICLE II
DEFINITIONS
The following words and phrases as used herein shall have the following meanings:

SECTION 2.01  "Applicable Delivery Period" means a period of up to five years, as more fully described in Section 5.01 of the Plan.

SECTION 2.02  "Beneficiary" means the person, persons or entity designated by the Participant to receive any shares of Common Stock deliverable in accordance with Section 7.01 of the Plan.  Any Participant's Beneficiary designation shall be made in a written instrument filed with the Company and shall become effective only when received, accepted and acknowledged in writing by the Company.  

SECTION 2.03  "Board" means the Board of Directors of the Company.

SECTION 2.04  "Change in Control" means the first to occur of any of the following events:
(i)    An acquisition by any individual, entity or group (within the meaning of Section 13(d)(3) or 14(d)(2) of the Exchange Act) (a "Person") of beneficial ownership (within the meaning of Rule 13d-3 promulgated under the Exchange Act) of 20% or more of either (1) the then outstanding shares of Common Stock (the "Outstanding Common Stock") or (2) the combined voting power of the then outstanding voting securities of the Company entitled to vote generally in the election of directors (the "Outstanding Voting Securities"); excluding, however, the following:  (1) any acquisition directly from the Company, other than an acquisition by virtue of the exercise of a conversion privilege unless the security being so converted was itself acquired directly from the Company; (2) any acquisition by the Company; (3) any acquisition by any employee benefit plan (or related trust) sponsored or maintained by the Company or any entity controlled by the Company; or (4) any acquisition pursuant to a transaction which complies with clauses (A), (B) and (C) of subsection (iii) of this Section 2.04; or
(ii)    A change in the composition of the Board such that the Directors who, as of the Effective Date, constitute the Board (such Board shall be hereinafter referred to as the "Incumbent Board") cease for any reason to constitute at least a majority of the Board; provided, however, for purposes of this Section 2.04, 

    

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that any individual who becomes a Director subsequent to the Effective Date, whose election, or nomination for election by the Company's shareholders, was approved by a vote of at least a majority of those Directors who were members of the Incumbent Board (or deemed to be such pursuant to this proviso) shall be considered as though such Director were a member of the Incumbent Board; but, provided, further, that any such individual whose initial assumption of office occurs as a result of either an actual or threatened election contest (as such terms are used in Rule 14a-11 of Regulation 14A promulgated under the Exchange Act) or other actual or threatened solicitation of proxies or consents by or on behalf of a Person other than the Board shall not be so considered as a member of the Incumbent Board; or
(iii)    Consummation of a reorganization, merger or consolidation or sale or other disposition of all or substantially all of the assets of the Company ("Corporate Transaction"); excluding, however, such a Corporate Transaction pursuant to which (A) all or substantially all of the individuals and entities who are the beneficial owners, respectively, of the Outstanding Common Stock and Outstanding Voting Securities immediately prior to such Corporate Transaction will beneficially own, directly or indirectly, more than 50% of, respectively, the outstanding shares of common stock, and the combined voting power of the then outstanding voting securities entitled to vote generally in the election of directors, as the case may be, of the corporation resulting from such Corporate Transaction (including, without limitation, a corporation which 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 Corporate Transaction, of the Outstanding Common Stock and Outstanding Voting Securities, as the case may be, (B) no Person (other than the Company, any employee benefit plan (or related trust) of the Company or such corporation resulting from such Corporate Transaction) will beneficially own, directly or indirectly, 20% or more of, respectively, the outstanding shares of common stock of the corporation resulting from such Corporate Transaction or the combined voting power of the outstanding voting securities of such corporation entitled to vote generally in the election of directors except to the extent that such ownership existed prior to the Corporate Transaction, and (C) individuals who were members of the Incumbent Board will constitute at least a majority of the members of the board of directors of the corporation resulting from such Corporate Transaction; or
(iv)    The approval by the shareholders of the Company of a complete liquidation or dissolution of the Company.

SECTION 2.05  "Change in Control Consideration" means, with respect to each share of Common Stock credited to a Deferred Stock Account, (i) the amount of any cash, plus the value of any securities and other noncash consideration, constituting the most valuable consideration per share of Common Stock paid to any shareholder in the transaction or series of transactions that results in a Change in Control or (ii) if no consideration per share of Common Stock is paid to any shareholder in the transaction or series of transactions that results in a Change in Control, the highest reported sales price, regular way, of a share of Common Stock in any transaction reported on the New York Stock Exchange or other national exchange on which such shares of Common Stock are listed or on NASDAQ during the 60-day period prior to and including the date of a Change in Control.  To the extent that such consideration consists all or in part of securities or other noncash consideration, the value of such securities or other noncash consideration shall be determined by the Committee in good faith.

SECTION 2.06  "Claimant" has the meaning set forth in Section 10.01 of the Plan.

SECTION 2.07  "Code" means the Internal Revenue Code of 1986, as amended from time to time, and the applicable rules and regulations promulgated thereunder.

SECTION 2.08  "Committee" means the Nominating and Corporate Governance Committee of the Board.

    

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SECTION 2.09  "Common Stock" means the common stock, $1.00 par value per share, of the Company.

SECTION 2.10  "Company" means S&P Global Inc., a corporation organized under the laws of the State of New York, or any successor corporation.

SECTION 2.11  "Deferral Election" means an election pursuant to Article V of the Plan.

SECTION 2.12  "Deferred Stock Account" means a bookkeeping account maintained by the Company for a Participant representing the Participant's interest in the shares of Common Stock credited to such account pursuant to Section 6.01 of the Plan.

SECTION 2.13  "Delivery Date" has the meaning set forth in Section 7.01 of the Plan.

SECTION 2.14  "Director" means an individual who is a member of the Board.

SECTION 2.15  "Dividend Equivalent" for a given dividend or distribution means a number of shares of Common Stock having a Value, as of the date such Dividend Equivalent is credited to a Deferred Stock Account, equal to the amount of cash, plus the fair market value on the date of distribution of any property, that is distributed with respect to one share of Common Stock pursuant to such dividend or distribution; such fair market value to be determined by the Committee in good faith.

SECTION 2.16  "Effective Date" has the meaning set forth in Section 13.06 of the Plan.

SECTION 2.17  "Election Amount" means for each Participant who has made a Deferral Election pursuant to Article V of the Plan, with respect to each Plan Year, (i) the percentage that is set forth in the Deferral Election, multiplied by (ii) the total cash compensation receivable from the Company during the Plan Year by the Participant in his capacity as a Director, including without limitation, retainers, fees for serving as committee members, fees for serving as chairman of a committee, Board meeting fees and committee meeting fees.

SECTION 2.18  "Exchange Act" means the Securities Exchange Act of 1934, as amended from time to time, and the applicable rules and regulations promulgated thereunder.

SECTION 2.19  "Extension Notice" has the meaning set forth in Section 10.01 of the Plan.

SECTION 2.20  "Fraction" with respect to a person who was a Participant during part, but not all, of a calendar year, means the amount obtained by dividing (i) the number of calendar months during such calendar year that such person was a Participant by (ii) 12; provided that for purposes of the foregoing a partial calendar month shall be treated as a whole month.

SECTION 2.21  "Installment Delivery Election" means the written election by a Participant, on such form as may be prescribed by the Committee, to receive delivery of shares of Common Stock in the Participant's Deferred Stock Account in installments over the Applicable Delivery Period.

SECTION 2.22  "Participant" means each individual who participates in the Plan, as provided in Section 4.01 of the Plan.

    

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SECTION 2.23  "Plan" means S&P Global Inc. Director Deferred Stock Ownership Plan, as amended from time to time.

SECTION 2.24  "Plan Administrator" has the meaning set forth in Section 3.01 of the Plan.

SECTION 2.25  "Plan Year" means the calendar year; provided that the last Plan Year with respect to a Director who ceases to be a Participant during a calendar year, shall begin on the first day of such calendar year and end on the day such Director ceases to be a Participant.

SECTION 2.26  "Stock Amount" means, with respect to a Plan Year, the amount of $150,000 or such other amount as may be determined by the Committee.  

SECTION 2.27  "Value" of a share of Common Stock as of the last day of a given Plan Year shall mean the closing price of a share of Common Stock on the New York Stock Exchange (or, if the Common Stock is not listed on such exchange, any other national securities exchange on which the Common Stock is listed) on the first business day following the last day of each Plan Year.  If the Common Stock is not traded on any national securities exchange, the Value of the Common Stock shall be determined by the Committee in good faith.

ARTICLE III
ADMINISTRATION

SECTION 3.01  Administration.  The Plan shall be administered by the Executive Vice President, Human Resources of the Company (the "Plan Administrator"), who shall have full authority to construe and interpret the Plan, to establish, amend and rescind rules and regulations relating to the Plan, and to take all such actions and make all such determinations in connection with the Plan as he may deem necessary or desirable.  Subject to Article X of the Plan, decisions of the Plan Administrator shall be reviewable by the Committee.  Subject to Article X of the Plan, the Committee shall also have the full authority to make, amend, interpret, and enforce all appropriate rules and regulations for the administration of the Plan and decide or resolve any and all questions, including interpretations of the Plan, as may arise in connection with the Plan.

SECTION 3.02  Binding Effect of Decisions.  Subject to Article X of the Plan, the decision or action of the Plan Administrator or Committee in respect to any question arising out of or in connection with the administration, interpretation and application of the Plan and the rules and regulations promulgated hereunder shall be final, conclusive and binding upon all persons having any interest in the Plan.

SECTION 3.03  Indemnification.  To the fullest extent permitted by law, the Plan Administrator, the Committee and the Board (and each member thereof), and any employee of the Company to whom fiduciary responsibilities have been delegated shall be indemnified by the Company against any claims, and the expenses of defending against such claims, resulting from any action or conduct relating to the administration of the Plan, except claims arising from gross negligence, willful neglect or willful misconduct.

ARTICLE IV
PARTICIPATION

SECTION 4.01  Eligible Participants.  Any individual who was a Participant in the Plan immediately prior to the effective date of this amendment and restatement shall continue to be a Participant on such 

    

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date, subject to the terms and provisions of the Plan, and each other individual who becomes a Director thereafter during the term of the Plan, shall be a Participant in the Plan, in each case during such period as such individual remains a Director and is not an employee of the Company or any of its subsidiaries.

ARTICLE V
DEFERRALS AND ELECTIONS

SECTION 5.01  Initial Election.  Each new Participant in the Plan may make an irrevocable Deferral Election to defer payment of all or part of the total cash compensation for services as a Director to be earned during the Plan Year in which the Director becomes a Participant in the Plan and to have the Participant's Deferred Stock Account credited with shares of Common Stock equal in Value to such deferred compensation.  In order to make a Deferral Election pursuant to this Section 5.01, the Participant must deliver to the Company a written notice of the Deferral Election setting forth the percentage of the Participant's total cash compensation to be deferred.  This notice must be delivered within 30 days of the date on which the Participant becomes a Director and shall be effective with respect to compensation earned after the date of delivery thereof.  The Participant shall be permitted to make an irrevocable Installment Delivery Election at the time of the Deferral Election.  

SECTION 5.02  Annual Elections.  A Participant may make a Deferral Election on an annual basis to defer payment of all or part of the total cash compensation for services as a Director to be earned during the next succeeding Plan Year and to have the Participant's Deferred Stock Account credited with shares of Common Stock equal in Value to such deferred compensation.  In order to make a Deferral Election pursuant to this Section 5.02, the Participant must deliver to the Company a written notice of the Deferral Election setting forth the percentage of the Participant's total cash compensation to be deferred.  This notice must be delivered no later than, and such Deferral Election shall become irrevocable on, the last business day prior to the commencement of the Plan Year to which the Deferral Election relates.  Any such written notice of the Deferral Election pursuant to this Section 5.02 shall remain in effect for subsequent Plan Years unless such Participant delivers a written notice setting forth a different Deferral Election which shall be applied to future Plan Years until further written notice is received by the Company pursuant to this Section 5.02.  The Participant shall be permitted to make an Installment Delivery Election at the time of the Deferral Election.  Such Installment Delivery Election shall become irrevocable on the last business day prior to the commencement of the Plan Year to which the Installment Delivery Election relates. 

ARTICLE VI
DEFERRED ACCOUNTS

SECTION 6.01  Accounts.  The Company shall maintain a Deferred Stock Account for each Participant.  As part of the compensation payable to each Participant for service on the Board, the Deferred Stock Account of each Participant shall be credited with shares of Common Stock as set forth in Section 6.02 of the Plan.

SECTION 6.02  Credit of Shares of Common Stock.  (a)  On the first business day following the last day of each Plan Year, the Deferred Stock Account of each Director who was a Participant at any time during such Plan Year shall be credited with (i) a number of shares of Common Stock having a Value equal to the sum of (A) the Stock Amount multiplied by the applicable Fraction and (B) the Election Amount, if any; plus (ii) a number of shares of Common Stock equal to (A) the number of shares of Common Stock credited as of that date pursuant to clause (i) multiplied by (B) the Dividend Equivalent for each dividend 

    

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paid or other distribution made with respect to the Common Stock, the record date for which occurred during such Plan Year and at a time when such Participant was a Participant.
(b)    In addition, on the first business day following the last day of each Plan Year, each Deferred Stock Account that has not, as of such date, been delivered in full pursuant to Section 7.01 of the Plan shall be credited with a number of shares of Common Stock equal to (i) the number of shares of Common Stock in such Deferred Stock Account as of such date (before taking into account any amounts that are credited as of such date pursuant to Section 6.02 of the Plan) multiplied by (ii) the Dividend Equivalent for each dividend paid or other distribution made with respect to the Common Stock, the record date for which occurred during such Plan Year and at a time when such Participant was a Participant.

ARTICLE VII
DISTRIBUTIONS

SECTION 7.01  Delivery of Shares of Common Stock.  The shares of Common Stock in a Participant's Deferred Stock Account as of the date the Participant ceases to be a Director for any reason (the "Delivery Date") shall be delivered or begin to be delivered in accordance with this Section 7.01 on or as soon as practicable, but in no event more than 60 days after the Delivery Date.  Such shares of Common Stock shall be delivered at one time; provided that if the number of shares of Common Stock so credited includes a fractional share, such number shall be rounded up to the nearest whole number of shares; and provided, further, that if the Director has in effect a valid Installment Delivery Election pursuant to Article V of the Plan, then the applicable portion of such shares of Common Stock shall be delivered in equal yearly installments over the Applicable Delivery Period, with the first such installment being delivered on the first anniversary of the Delivery Date; provided that if in order to equalize such installments, fractional shares of Common Stock would have to be delivered, such installments shall be adjusted by rounding up to the nearest whole share.  If any such shares of Common Stock are to be delivered after the Director has become legally incompetent, they shall be delivered to the Director's legal guardian.  If any such shares of Common Stock are to be delivered after the Director has died, they shall be delivered to the Director's Beneficiary; provided that if the Director dies with a valid Installment Delivery Election in effect, the Committee shall deliver all remaining undelivered shares of Common Stock to the Director's Beneficiary as soon as practicable.  Reference to a Director in the Plan shall be deemed to refer to the Director's legal guardian or the Beneficiary, where appropriate.

SECTION 7.02  Voting and Other Rights.  Shares of Common Stock delivered to a Participant pursuant to Section 7.01 of the Plan shall be issued in the name of the Participant, and the Participant shall be entitled to all rights of a shareholder with respect to Common Stock for all such shares of Common Stock issued in his name, including the right to vote the shares of Common Stock, and the Participant shall receive all dividends and other distributions paid or made with respect thereto.

SECTION 7.03  General Restrictions.  Notwithstanding any other provision of the Plan or agreements made pursuant thereto, the Company shall not be required to issue or deliver any shares of Common Stock under the Plan prior to fulfillment of all of the following conditions:
(i)    Listing or approval for listing upon official notice of issuance of such shares on the New York Stock Exchange, or such other securities exchange as may at the time be a market for the Common Stock;
(ii)    Any registration or other qualification of such shares of Common Stock under any state or federal law or regulation, or the maintaining in effect of any such registration or other qualification which the Committee shall, in its absolute discretion upon the advice of counsel, deem necessary or advisable; and
(iii)    Obtaining any other consent, approval, or permit from any state or federal governmental agency which the Committee shall, in its absolute discretion after receiving the advice of counsel, determine to be necessary or advisable.

    

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ARTICLE VIII
SHARES AVAILABLE

SECTION 8.01  Shares Available.  Subject to Article IX of the Plan, the maximum number of shares of Common Stock which may be credited to Deferred Stock Accounts pursuant to the Plan is 640,000 in the aggregate.  Shares of Common Stock issuable under the Plan may be taken from authorized but unissued or treasury shares of the Company or purchased on the open market.

ARTICLE IX
EFFECT OF CORPORATE TRANSACTIONS

SECTION 9.01  Change in Capital Structure.  In the event that there is, at any time after the Board adopts the Plan, any change in the Common Stock by reason of any stock dividend, stock split, combination of shares, exchange of shares, warrants or rights offering to purchase Common Stock at a price below its fair market value, reclassification, recapitalization, merger, consolidation, spin-off or other change in capitalization of the Company, appropriate adjustment shall be made in the number and kind of shares or other property subject to the Plan and the number and kind of shares or other property held in the Deferred Stock Accounts, and any other relevant provisions of the Plan by the Committee, whose determination shall be binding and conclusive on all persons.

SECTION 9.02  Change in Control.  Without limiting the generality of the foregoing, and notwithstanding any other provision of the Plan, in the event of a Change in Control that is a "change in control event" within the meaning of Section 409A(a)(2)(A)(v) of the Code, the following shall occur on the date of the Change in Control (the "Change in Control Date"):  (i) the last day of the then-current Plan Year shall be deemed to occur on the Change in Control Date and such Plan Year shall be the last Plan Year under the Plan; (ii) the Deferred Stock Accounts shall be credited with shares of Common Stock pursuant to Section 6.02 of the Plan, as if, for this purpose, the Participants ceased to be Participants on the Change in Control Date; (iii) the Company shall immediately pay to each Participant in a lump sum the Change in Control Consideration multiplied by the number of shares of Common Stock held in the Participant's Deferred Stock Account immediately before such Change in Control; and (iv) the Plan shall be terminated with respect to each Participant's Deferred Stock Account.

SECTION 9.03  Share Conversion.  If the shares of Common Stock credited to the Deferred Stock Accounts are converted pursuant to this Section 9.03 into another kind or form of property (including cash), references in the Plan to the Common Stock shall be deemed, where appropriate, to refer to such other kind or form of property, with such other modifications as may be required for the Plan to operate in accordance with its purposes.  Without limiting the generality of the foregoing, references to delivery of certificates for shares of Common Stock shall be deemed to refer to delivery of cash and the incidents of ownership of any other property held in the Deferred Stock Accounts.

ARTICLE X
CLAIMS PROCEDURE

SECTION 10.01  Claims.  In the event any person or his authorized representative (a "Claimant") disputes the amount of, or his entitlement to, any benefits under the Plan or their method of payment, such Claimant shall file a claim in writing with, and on the form prescribed by, the Plan Administrator for the benefits to which he believes he is entitled, setting forth the reason for his claim.  The Claimant shall have the opportunity to submit written comments, documents, records and other information relating to the claim and shall be provided, upon request and free of charge, reasonable access to and copies of all 

    

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documents, records or other information relevant to the claim.  The Plan Administrator shall consider the claim and within 90 days of receipt of such claim, unless special circumstances exist which require an extension of the time needed to process such claim, the Plan Administrator shall inform the Claimant of its decision with respect to the claim.  In the event of special circumstances, the response period can be extended for an additional 90 days, as long as the Claimant receives written notice advising of the special circumstances and the date by which the Plan Administrator expects to make a determination (the "Extension Notice") before the end of the initial 90-day response period indicating the reasons for the extension and the date by which a decision is expected to be made.  

SECTION 10.02  Appeal of Denial.  A Claimant whose claim is denied by the Plan Administrator and who wishes to appeal such denial must request a review of the Plan Administrator's decision by filing a written request with the Committee for such review within 60 days after such claim is denied.  Such written request for review shall contain all relevant comments, documents, records and additional information that the Claimant wishes the Committee to consider, without regard to whether such information was submitted or considered in the initial review of the claim by the Plan Administrator.  In connection with that review, the Claimant may submit such written comments as may be appropriate.  Written notice of the decision on review shall be furnished to the Claimant within 60 days after receipt by the Committee of a request for review.  In the event of special circumstances which require an extension of the time needed for processing, the response period can be extended for an additional 60 days, as long as the Claimant receives an Extension Notice.  The Claimant shall be notified no later than five days after a decision is made with respect to the appeal.

SECTION 10.03  Statute of Limitations.  A Claimant wishing to seek judicial review of an adverse benefit determination under the Plan, whether in whole or in part, must file any suit or legal action within three years of the date the final decision on the adverse benefit determination on review is issued or should have been issued under Section 10.02 of the Plan or lose any rights to bring such an action.  If any such judicial proceeding is undertaken, the evidence presented shall be strictly limited to the evidence timely presented to the Plan Administrator.  Notwithstanding anything in the Plan to the contrary, a Claimant must exhaust all administrative remedies available to such Claimant under the Plan before such Claimant may seek judicial review.

ARTICLE XI
BENEFICIARY DESIGNATION

SECTION 11.01  Beneficiary Designation.  Each Participant shall have the right, at any time, to designate any person, persons, entity or entities as his Beneficiary or Beneficiaries (both primary as well as contingent) to whom shares of Common Stock shall be delivered in accordance with Section 7.01 of the Plan from the Participant's Deferred Stock Account in the event of such Participant's death prior to complete distribution to the Participant of the shares of Common Stock due him under the Plan.

SECTION 11.02  Amendments.  Any Beneficiary designation may be changed by a Participant by the written filing of such change on a form prescribed by the Company.  The new Beneficiary designation form shall cancel all Beneficiary designations previously filed.

SECTION 11.03  No Beneficiary Designation.  If a Participant fails to designate a Beneficiary as provided above, or if all designated Beneficiaries predecease the Participant, then any amounts to be paid to the Participant's Beneficiary shall be paid to the Participant's estate.

    

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SECTION 11.04  Effect of Payment.  The delivery of shares of Common Stock under this Article XI due to a Participant to a Beneficiary under the Plan shall completely discharge the Company's obligations in respect of the Participant under the Plan.

ARTICLE XII
AMENDMENT AND TERMINATION OF PLAN

SECTION 12.01  Amendment.  The Board or the Committee may from time to time make such amendments to the Plan as it may deem proper and in the best interest of the Company without further approval of the Company's stockholders, except to the extent required by the Rules of the New York Stock Exchange (or rules of any other exchange or quotation system on which the Company's securities are then listed).

SECTION 12.02  Company's Right to Terminate.  The Board or the Committee may terminate the Plan at any time and, in connection with any such termination, may deliver to each Participant the shares of Common Stock credited to his Deferred Stock Account, subject to and in accordance with the requirements of Treasury Regulation Section 1.409A-3(j)(4)(ix) (or any successor provision thereto).  Notwithstanding any other provision of the Plan to the contrary, neither the Board nor the Committee shall be authorized to exercise any discretion with respect to the selection of persons to receive credits of shares of Common Stock under the Plan or concerning the amount or timing of such credits under the Plan, and, subject to Section 12.03 of the Plan, no amendment or termination of the Plan shall adversely affect the interest of any Participant in shares previously credited to such Participant's Deferred Stock Account without that Participant's express written consent.

SECTION 12.03  Section 409A.  If, in the good faith judgment of the Committee, any provision of the Plan could otherwise cause any person to be subject to the interest and penalties imposed under Section 409A of the Code, such provision shall be modified by the Committee in its sole discretion to maintain, to the maximum extent practicable, the original intent of the applicable provision without causing the interest and penalties under Section 409A of the Code to apply, and, notwithstanding any provision in the Plan to the contrary, the Committee shall have broad authority to amend or to modify the Plan, without advance notice to or consent by any person, to the extent necessary or desirable to ensure that no benefits are subject to tax under Section 409A of the Code.  Any determinations made by the Committee under this Section 12.03 shall be final, conclusive and binding on all persons.  

ARTICLE XIII
MISCELLANEOUS

SECTION 13.01  Unsecured General Creditor.  Participants and their Beneficiaries shall have no legal or equitable rights, interest or claims in any property or assets of the Company.  The assets of the Company shall not be held under any trust for the benefit of Participants or their Beneficiaries or held in any way as collateral security for the fulfilling of the obligations of the Company under the Plan.  Any and all of the Company's assets shall be, and remain, the general, unpledged, unrestricted assets of the Company.  The Company's obligation under the Plan shall be merely that of an unfunded and unsecured promise of the Company to pay money in the future.

SECTION 13.02  Nonassignability.  Each Participant's rights under the Plan shall be nontransferable except by will or by the laws of descent and distribution.  Subject to the foregoing, neither a Participant nor any other person shall have any right to commute, sell, assign, transfer, pledge, anticipate, mortgage or otherwise encumber, transfer, hypothecate or convey in advance of actual receipt the amounts, if any, 

    

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payable hereunder, or any part thereof, which are, and all rights to which are, expressly declared to be nonassignable and non-transferable.  No part of the amounts payable shall, prior to actual payment, be subject to seizure or sequestration for the payment of any debts, judgments, alimony or separate maintenance owed by a Participant or any other person, nor be transferable by operation of law in the event of a Participant's or any other person's bankruptcy or insolvency.

SECTION 13.03  Rights and Obligations.  Nothing in the Plan shall be deemed to create any obligation on the part of the Board to nominate any Director for reelection by the Company's shareholders or to limit the rights of the shareholders to remove any Director.

SECTION 13.04  Binding Effect.  The Plan shall be binding upon and shall inure to the benefit of the Participant or his Beneficiary, his heirs and legal representatives, and the Company.

SECTION 13.05  Withholding.  The Company shall have the right to require, prior to the issuance or delivery of any shares of Common Stock pursuant to the Plan, that a Participant make arrangements satisfactory to the Committee for the withholding of any taxes required by law to be withheld with respect to the issuance or delivery of such shares of Common Stock, including without limitation, by the withholding of shares of Common Stock that would otherwise be so issued or delivered, by withholding from any other payment due to the Participant, or by a cash payment to the Company by the Participant.

SECTION 13.06  Effective Date and Term.  The Plan was initially effective as of July 1, 1996.  This amendment and restatement is effective as of January 1, 2017.  The Plan shall remain in effect until the earlier of (i) its termination by action of the Board, (ii) its termination as set forth in Section 12.02 of the Plan, or (iii) no shares of Common Stock remain available under the Plan.

SECTION 13.07  Severability.  In the event that any provision or portion of the Plan shall be determined to be invalid or unenforceable for any reason, the remaining provisions and portions of the Plan shall be unaffected thereby and shall remain in full force and effect to the fullest extent permitted by law.

SECTION 13.08  Governing Law.  The Plan shall be construed under the laws of the State of New York, to the extent not preempted by federal law.

SECTION 13.09  Headings.  The section headings used in this document are for ease of reference only and shall not be controlling with respect to the application and interpretation of the Plan.

SECTION 13.10  Rules of Construction.  Any words herein used in the masculine shall be read and construed in the feminine where they would so apply.  Words in the singular shall be read and construed as though used in the plural in all cases where they would so apply.  All references to sections are, unless otherwise indicated, to sections of the Plan.  The Plan is intended to meet the requirements of Section 409A of the Code and shall be interpreted and construed consistent with such intent.snss-ex101_673.htm

Exhibit 10.1 

 

April 21, 2017 

 

Eric H. Bjerkholt

Sunesis Pharmaceuticals, Inc.

395 Oyster Point Blvd., Suite 400

South San Francisco, CA 94080 

 

Dear Eric:

The purpose of this letter is to set forth the transition and resignation agreement (the “Agreement”) between you and Sunesis Pharmaceuticals, Inc. (“Sunesis” or the “Company”).  On April 7, 2017 you tendered your resignation as an officer and as an employee of the Company, which resignations the Company accepted.  Set forth below are the terms agreed to between you and the Company for an orderly transition of your responsibilities, and an exchange of consideration in the mutual interests of both you and Sunesis.

1.Transition.  You have resigned as an officer and employee of Sunesis effective April 27, 2017 (the “Resignation Date”).  Until the Resignation Date, you will continue your full-time duties in exchange for continued compensation at your current rate and benefits eligibility.  You hereby acknowledge that your termination of employment is not a Constructive Termination as defined in that certain Third Amended and Restated Executive Severance Benefits Agreement (the “Severance Agreement”) between you and the Company dated April 13, 2016.

2.Accrued Salary and Paid Time Off.  On the Resignation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Resignation Date, subject to standard payroll deductions and withholdings.  

3.Health Care Coverage.  Your group health care coverage under the Company’s health care plans will continue through April 30, 2017.  Thereafter, to the extent provided by the federal COBRA law or, if applicable, state insurance laws, and by the Company’s current group health insurance policies, you may continue your group health insurance benefits at your own expense.  

4.Consulting Agreement.  Upon signing this agreement, the Company will enter into the consulting agreement set forth in Exhibit A (the “Consulting Agreement”).  As part of this Agreement and the Consulting Agreement, you understand and agree that the options and any other Company equity granted to you during your employment will continue to vest from the Resignation Date through June 30, 2017, when vesting as to all of your options and equity grants shall cease.  After June 30, 2017 and for the remaining period of time that you are performing services under the Consulting Agreement, no further vesting shall occur.  

144965638 v1 

Eric H. Bjerkholt

April 21, 2017

Page 2 

5.Other Compensation or Benefits.  You acknowledge that, except as expressly provided in this Agreement, you will not receive any additional compensation or benefits after the Resignation Date, including any severance benefits from the Company under the terms of that certain offer letter from the Company dated December 1, 2003 (“Offer Letter”) or of the Severance Agreement.  You further agree that you have not earned, and will not receive, any bonus compensation for your services in 2017.

6.Expense Reimbursements.  You agree that, within ten (10) days after the Resignation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Resignation Date, if any, for which you seek reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice.  

7.Return of Company Property.  By the Resignation Date, you agree to return to the Company all Company documents (and all copies thereof) and other Company property within your possession, custody or control, including, but not limited to, Company files, notes, drawings, records, business plans and forecasts, financial information, specifications, computer-recorded information, tangible property (including, but not limited to), credit cards, entry cards, identification badges, and keys; and, any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof); provided, however, that you are permitted to retain any Company property that is necessary for the performance of services under the Consulting Agreement. You agree to return any such property on or before the expiration of the Term of the Consulting Agreement, unless otherwise agreed to in writing. 

8.Proprietary Information Obligations.  You acknowledge and agree to abide by your continuing obligations under your Confidential Information and Invention Assignment Agreement, a copy of which is attached hereto as Exhibit B. .

9.Confidentiality.  The provisions of this Agreement will be held in strictest confidence by you and the Company and will not be publicized or disclosed in any manner whatsoever; provided, however, that:  (a) you may disclose this Agreement in confidence to your immediate family; (b) the parties may disclose this Agreement in confidence to their respective attorneys, accountants, auditors, tax preparers, and financial advisors; (c) the Company may disclose this Agreement as necessary to fulfill standard or legally required corporate reporting or disclosure requirements; (d) the parties may disclose this Agreement insofar as such disclosure may be necessary to enforce its terms or as otherwise required by law; (e) during the Term of the Consulting Agreement, you are permitted to disclose that you are serving as a consultant to the Company; and (f) you may disclose the fact or terms of this Agreement to any Government Agency.  

10.General.  This Agreement, including Exhibit A and Exhibit B, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to its subject matter.  It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes 

144965638 v1 

Eric H. Bjerkholt

April 21, 2017

Page 3 

any other such promises, warranties or representations.  This Agreement may not be modified or amended except in a writing signed by both you and a duly authorized officer of the Company.  This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns.  If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified so as to be rendered enforceable.  This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California.  Any ambiguity in this Agreement shall not be construed against either party as the drafter.  Any waiver of a breach of this Agreement shall be in writing and shall not be deemed to be a waiver of any successive breach.  This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures.

If this Agreement is acceptable to you, please sign below and Exhibit A, and return the originals to me.

We wish you the best in your future endeavors.

Sincerely,

By: /s/ DANIEL N. SWISHER, JR

           Daniel N. Swisher, Jr.

President and Chief Executive Officer

Exhibit A – Consulting Agreement

Exhibit B – Confidential Information and Invention Assignment Agreement 

I have read, understand and agree fully to the foregoing Agreement:

/s/ ERIC H. BJERKHOLT           4/26/17
Eric H. BjerkholtDate 

 

144965638 v1 

 

Exhibit A

SUNESIS PHARMACEUTICALS, INC.

CONSULTING AGREEMENT

Effective Date:April 28, 2017

Expiration Date:December 31, 2017

This Consulting Agreement (the “Consulting Agreement”) is entered into by and between Sunesis Pharmaceuticals, Inc. (“SUNESIS”) and Eric H. Bjerkholt (“CONSULTANT”) in connection with and as Exhibit A to the Agreement (the “Agreement”) between the parties of even date herewith. SUNESIS desires to have CONSULTANT serve as a non-exclusive consultant to SUNESIS under the terms of this Agreement.

NOW, THEREFORE, CONSULTANT and SUNESIS agree as follows:

	
1.
	
SERVICES AND COMPENSATION.  

	
 
	
a.
	
Consulting Services.  During the Term of this Consulting Agreement, CONSULTANT will from time to time provide consulting services (the “Services”) to SUNESIS as described on Attachment 1 attached to this Consulting Agreement.  CONSULTANT shall use best efforts to perform the Services in a manner satisfactory to SUNESIS.  Without limiting the foregoing, CONSULTANT shall provide Services to SUNESIS in accordance with generally accepted professional standards as applied to similar projects performed under similar conditions prevailing in the industry at the time such Services are rendered to SUNESIS. CONSULTANT shall not subcontract any portion of CONSULTANT’s duties or obligations under this Consulting Agreement without the prior written consent of SUNESIS.  

	
 
	
b.
	
SUNESIS Liaison; Reports.  CONSULTANT will report to the SUNESIS representative or agent (hereinafter, the “SUNESIS Liaison”, specified on Attachment 1) concerning the Services performed under this Consulting Agreement.  The nature and frequency of these reports will be left to the discretion of the SUNESIS Liaison.  Any and all written reports prepared by CONSULTANT shall be the Confidential Information (as defined below) and sole property of SUNESIS.

	
 
	
c.
	
Support.  SUNESIS may from time to time provide CONSULTANT with such support facilities and space at SUNESIS as may be required in SUNESIS’ sole judgment to enable CONSULTANT to properly perform the Services.  Notwithstanding the foregoing, CONSULTANT shall be responsible for securing, at CONSULTANT’s sole expense, such other facilities, equipment, space and any other items that are not expenses per Section 1d below that are required by CONSULTANT to perform the Services.

	
 
	
d.
	
Compensation.  In consideration for CONSULTANT’s performance of Services, SUNESIS will pay CONSULTANT in accordance with the fees and payment terms and other consideration set forth in Attachment 1.  CONSULTANT shall send SUNESIS an invoice monthly for services rendered.  Unless otherwise set forth in Attachment 1, SUNESIS shall make payments to CONSULTANT within thirty (30) days of invoice receipt.

A-1

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e.
	
Expenses.  CONSULTANT shall be reimbursed for any reasonable expenses incurred while performing Services on behalf of SUNESIS, including travel (i.e. airfare, meals and lodging), provided such expenses are approved by SUNESIS in advance.  All air travel on behalf of SUNESIS shall be coach class unless otherwise mutually agreed by the parties.  As a condition to receipt of reimbursement, CONSULTANT shall be required to submit to SUNESIS reasonable evidence that the amount involved was expended and related to Services provided under this Consulting Agreement.

	
2.
	
CONFIDENTIALITY.  

	
 
	
a.
	
Confidential Information.  As used in this Consulting Agreement, the term “Confidential Information” means information (i) pertaining to any aspects of SUNESIS’ business, including but not limited to its research, technical data, products, services, plans for products or services, customers and potential customers, markets and marketing, finances, financial projections, employees (including employee compensation), patents, patent applications, developments, inventions, processes, designs, drawings, engineering, formulae, regulatory information, medical reports, clinical data and analysis, compounds, chemical structures, compositions, microorganisms or other cell types, proteins, peptides, reagents, cell lines, genetic or other biological materials, chemical formulas, business plans, and agreements with third parties, disclosed to CONSULTANT by SUNESIS either directly or indirectly in writing, orally or otherwise, or (ii) created by CONSULTANT as part of the Services, whether or not during working hours.  Confidential Information also includes any information, which SUNESIS has received from a third party which SUNESIS is obligated to treat as confidential or proprietary.  Notwithstanding the foregoing, Confidential Information shall not include information that CONSULTANT can demonstrate by competent written proof: (x) was in the public domain at the time it was disclosed or has entered the public domain through no fault of CONSULTANT; (y) was known to CONSULTANT, other than under an obligation of confidentiality, at the time of disclosure; or (z) was received by CONSULTANT from a third party authorized to make such disclosure.

	
 
	
b.
	
Confidentiality Obligations.  

	
 
	
i.
	
CONSULTANT shall not, during the Term of this Consulting Agreement and for ten (10) years after the date of expiration or termination of this Consulting Agreement, use any Confidential Information for any purpose whatsoever other than the performance of the Services on behalf of SUNESIS, or disclose Confidential Information to any third party.  CONSULTANT agrees not to make copies of Confidential Information except as authorized by SUNESIS.  CONSULTANT agrees that Confidential Information, including any copies thereof, shall remain the sole property of SUNESIS.  

	
 
	
ii.
	
CONSULTANT shall take all reasonable precautions to prevent any unauthorized use, access or disclosure of Confidential Information, including but not limited to (A) using the highest degree of care that it utilizes to protect its own most sensitive confidential information of a similar nature, (B) maintaining any such Confidential Information or any information derived therefrom wholly separate from information provided to CONSULTANT by any third party or belonging thereto, (C) not taking any such Confidential Information into the facilities of any third party, (D) not copying or reverse engineering any such Confidential Information, except to the extent necessary to perform the Services, and (E) immediately informing SUNESIS, in writing, of any actual or suspected unauthorized use, disclosure or access to Confidential Information.  

A-2

144965638 v1 

 

	
 
	
iii.
	
Upon expiration or termination of this Consulting Agreement, or upon SUNESIS’ earlier request, CONSULTANT will deliver to SUNESIS all Confidential Information and any property relating thereto and all tangible embodiments thereof in CONSULTANT’s possession or control.  

	
 
	
iv.
	
The foregoing notwithstanding, pursuant to 18 U.S.C. Section 1833(b), CONSULTANT shall not be held criminally or civilly liable under any federal or state trade secret law for the disclosure of a trade secret that: (A) is made in confidence to a federal, state or local government official, either directly or indirectly, or to an attorney, and solely for the purpose of reporting or investigating a suspected violation of law; or (B) is made in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal.  Nothing in this Consulting Agreement shall limit CONSULTANT’s right to report possible violations of law or regulation with any federal, state or local government agency or to discuss the terms and conditions of CONSULTANT’s engagement by SUNESIS to the extent that such disclosure is protected under applicable provisions of law or regulation, including but not limited to “whistleblower” statutes or other similar provisions that protect such disclosure.

	
3.
	
TERM AND TERMINATION.

	
 
	
a.
	
Term.  Provided that CONSULTANT has signed the Agreement without exercising any right of revocation, the Term of this Consulting Agreement shall commence on the Effective Date and continue until the Expiration Date (the “Term”), unless terminated before the Expiration Date as set forth in Section 3b below.  

	
 
	
b.
	
Mutual Termination.  This Consulting Agreement may be terminated at any time by either party, with or without cause, and without prejudice to any right or remedy a party may have due to any failure of the other party to perform their obligations under this Consulting Agreement, upon thirty (30) days written notice to the other party.  In addition, SUNESIS may terminate this Consulting Agreement immediately and without prior notice if CONSULTANT is in breach of any material provision of this Consulting Agreement, the Agreement, or Exhibit B to the Agreement.  SUNESIS shall have the right to prohibit CONSULTANT from performing any services during any applicable notice period.  

	
 
	
c.
	
Effect of Termination.  Upon the effective date of expiration or termination of this Consulting Agreement, there shall be an accounting of costs and expenses related to this Consulting Agreement, conducted by CONSULTANT and subject to verification by SUNESIS.  Within thirty (30) days after receipt of adequate documentation therefor, SUNESIS shall make a payment to CONSULTANT.  Except as provided in this Section 3c, SUNESIS shall have no obligation of payment to CONSULTANT for Services performed after the date of expiration or termination.  In no event shall SUNESIS have any obligation with respect to fees or expenses otherwise not approved by SUNESIS in accordance with Section 1e.  If this Consulting Agreement expires or is terminated prior to completion of Services for any reason whatsoever, in addition to those obligations set forth in Section 2b(iii) above, CONSULTANT shall furnish SUNESIS with any partial or completed work product created pursuant to this Consulting Agreement, including, without limitation, any partial or completed deliverables.  If SUNESIS plans to continue the Services, CONSULTANT shall assist in smoothly transferring the conduct of the Services to SUNESIS or its designee. 

A-3

144965638 v1 

 

	
 
	
d.
	
Survival Clause.  Sections 2, 4, and 7 shall survive the expiration or termination of this Consulting Agreement for any reason.  Except as otherwise provided in this Section 3d, all rights and obligations of the parties herein shall terminate upon the expiration or termination of this Consulting Agreement.

	
4.
	
INDEPENDENT CONTRACTOR.  CONSULTANT’s relationship with SUNESIS will be that of an independent contractor and not that of an employee.  CONSULTANT shall not be eligible for any employee benefits or unemployment benefits, nor will SUNESIS make deductions from payments made to CONSULTANT for taxes, unless as otherwise required by law, all of which will be CONSULTANT’s responsibility.  CONSULTANT will have no authority to enter into contracts that bind SUNESIS or create obligations on the part of SUNESIS without the prior express written authorization of SUNESIS.

	
5.
	
CONFLICTING OBLIGATIONS.  CONSULTANT hereby certifies that CONSULTANT has no outstanding agreement or obligation that is in conflict with any of the provisions of this Consulting Agreement, or that would preclude CONSULTANT from complying with the provisions hereof, and further certifies that CONSULTANT will not enter into any such conflicting agreement during the Term of this Consulting Agreement.

	
6.
	
INDEMNIFICATION.  SUNESIS will indemnify CONSULTANT for all losses, liabilities, damages and expenses, including advancement of reasonable attorneys’ fees, resulting from any and all actions, demands or claims arising from CONSULTANT’S provision of the Services in good faith.

	
7.
	
MISCELLANEOUS.

	
 
	
a.
	
No Conflict:  Valid and Binding.  CONSULTANT represents that neither the execution of this Consulting Agreement nor the performance of CONSULTANT’s obligations under this Consulting Agreement will result in a violation or breach of any other agreement by which CONSULTANT is bound.  SUNESIS represents that this Consulting Agreement has been duly authorized and executed and is a valid and legally binding obligation of SUNESIS, subject to no conflicting agreements.

	
 
	
b.
	
Use of Name.  Neither party shall have the right to use the name of the other party without such other party’s prior written consent, except that it is understood that the name of CONSULTANT may appear in certain SUNESIS disclosure documents, including those required by securities laws and in other regulatory and administrative filings in the ordinary course of SUNESIS’ business.

	
 
	
c.
	
Remedies.  CONSULTANT acknowledges that SUNESIS may have no adequate remedy at law to enforce Section 2 hereof.  In the event of a violation by CONSULTANT of Section 2, SUNESIS shall have the right to seek injunctive or similar relief, as well as all other relevant damages, without the requirement of posting bond or other similar measures.

	
 
	
d.
	
Choice of Law.  The validity, interpretation, construction and performance of this Consulting Agreement shall be governed by the laws of the State of California, without giving effect to the principles of conflict of laws.  

	
 
	
e.
	
Arbitration.  Any dispute, claim or controversy based on, arising out of or relating to CONSULTANT’s engagement under this Consulting Agreement shall be settled by final and binding arbitration in San Mateo County, California, before a single neutral arbitrator in 

A-4

144965638 v1 

 

	
 
		
accordance with the National Rules for the Resolution of Employment Disputes (the “Rules”) of the American Arbitration Association, and judgment on the award rendered by the arbitrator may be entered in any court having jurisdiction. Arbitration may be compelled pursuant to the California Arbitration Act (Code of Civil Procedure §§ 1280 et seq.). If the parties are unable to agree upon an arbitrator, one shall be appointed by the AAA in accordance with its Rules. Each party shall pay the fees of its own attorneys, the expenses of its witnesses and all other expenses connected with presenting its case; however, CONSULTANT and SUNESIS agree that, to the extent permitted by law, the arbitrator may, in his or her discretion, award reasonable attorneys’ fees to the prevailing party. Other costs of the arbitration, including the cost of any record or transcripts of the arbitration, AAA’s administrative fees, the fee of the arbitrator, and all other fees and costs, shall be borne equally by the parties. This Section 7e is intended to be the exclusive method for resolving any and all claims by the parties against each other for payment of damages under this Consulting Agreement or relating to CONSULTANT’s engagement hereunder; provided, however, that neither this Consulting Agreement nor the submission to arbitration shall limit the parties’ right to seek provisional relief, including, without limitation, injunctive relief, in any court of competent jurisdiction pursuant to California Code of Civil Procedure § 1281.8 or any similar statute of an applicable jurisdiction. Seeking any such relief shall not be deemed to be a waiver of such party’s right to compel arbitration. Both CONSULTANT and SUNESIS expressly waive their right to a jury trial. Pursuant to California Civil Code Section 1717, each party warrants that it was represented by counsel in the negotiation and execution of this Consulting Agreement, including the attorneys’ fees provision herein.

	
 
	
f.
	
Notices.  Any notice required or permitted by this Consulting Agreement shall be in writing and shall be deemed sufficient upon receipt, when delivered personally or by courier, overnight delivery service or confirmed facsimile, or forty-eight (48) hours after being deposited in the regular mail as certified or registered mail with postage prepaid, if such notice is addressed to the party to be notified at such party’s address or facsimile number as set forth with the signatures below, or as subsequently modified by written notice. Notices to SUNESIS shall be sent to the attention of Legal Affairs.

	
 
	
g.
	
Assignment.  Due to the personal nature of the Services to be rendered hereunder, CONSULTANT may not assign this Consulting Agreement.  SUNESIS may assign this Consulting Agreement without the consent of CONSULTANT.  Subject to the foregoing, this Consulting Agreement will inure to the benefit of and be binding upon each of the heirs, assigns and successors of the respective parties.

	
 
	
h.
	
Severability.  If one or more provisions of this Consulting Agreement are held to be unenforceable under applicable law, the parties agree to renegotiate such provision in good faith.  In the event that the parties cannot reach a mutually agreeable and enforceable replacement for such provision, then (i) such provision shall be excluded from this Consulting Agreement, (ii) the balance of this Consulting Agreement shall be interpreted as if such provision were so excluded and (iii) the balance of this Consulting Agreement shall be enforceable in accordance with its terms. 

	
 
	
i.
	
Waiver.  Waiver or forbearance by either party or the failure by either party to claim a breach of any provision of this Consulting Agreement or exercise any right or remedy provided by this Consulting Agreement or applicable law shall not be deemed to constitute a waiver with respect to any subsequent breach of any provision hereof.

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j.
	
Advice of Counsel.  EACH PARTY ACKNOWLEDGES THAT, IN EXECUTING THIS CONSULTING AGREEMENT, SUCH PARTY HAS HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT LEGAL COUNSEL, AND HAS READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS CONSULTING AGREEMENT.  THIS CONSULTING AGREEMENT SHALL NOT BE CONSTRUED AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF. 

	
 
	
k.
	
Headings.  Headings are used in this Consulting Agreement for reference only and shall not be considered when interpreting this Consulting Agreement. 

	
 
	
l.
	
Amendments.  Any Term of this Consulting Agreement may be amended or modified only with the written consent of the parties.  

	
 
	
m.
	
Entire Agreement.  This Consulting Agreement, including the Attachment 1 hereto, constitutes the entire agreement between SUNESIS and CONSULTANT with respect to the subject matter of this Consulting Agreement and supersedes all prior written and oral agreements between the parties regarding the subject matter of this Consulting Agreement.  

	
 
	
n.
	
Counterparts.  This Consulting Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together will constitute one and the same instrument, and may be executed through the use of facsimiles.

IN WITNESS WHEREOF, the parties have executed this Consulting Agreement, effective as of the Effective Date, on the dates set forth below.

SUNESIS PHARMACEUTICALS, INC.CONSULTANT

395 Oyster Point Boulevard, Suite 400Eric H. Bjerkholt

South San Francisco, California 94080

 

 

By: /s/ DANIEL N. SWISHER, JR/s/ ERIC H. BJERKHOLT

President and Chief Executive Officer 

Date Signed: 4/24/17           Date Signed: 4/26/17

 

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ATTACHMENT 1

 

SERVICES AND FEES

 

	
I.
	
Services to be provided to SUNESIS, include but are not limited to:  Upon request by the SUNESIS Liaison, or a designee of the SUNESIS Liaison, CONSULTANT shall provide services within CONSULTANT’s areas of expertise and experience.  The Services shall be performed only by Eric H. Bjerkholt.  

	
II.
	
Remuneration:

	
 
	
Hourly Rate:
	
$275 per hour, prorated for partial hours.

All requests for payment will be in a form of a detailed monthly invoice and sent electronically to dswisher@sunesis.com, with a copy to AP@sunesis.com

	
 
	
Equity:
	
During the Term of this Consulting Agreement Mr. Bjerkholt will be deemed in “Continuous Service” for purposes of exercising any vested shares subject to his options to purchase SUNESIS common stock.  Any equity in SUNESIS that has been granted to Eric H. Bjerkholt prior to the Effective Date shall continue to vest during the Term from the Effective Date through June 30, 2017 whereupon all vesting shall cease.  Except as described in this Attachment 1, all other rights and obligations with respect to Mr. Bjerkholt’s equity will be as set forth in the applicable stock option agreement(s), grant notice(s) and plan documents.    

III.  SUNESIS Liaison :

Daniel N. Swisher, Jr.

President and Chief Executive Officer 

Sunesis Pharmaceuticals, Inc.

395 Oyster Point Boulevard, Suite 400

South San Francisco, CA 94080

 

 

1-1

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Exhibit B

CONFIDENTIAL INFORMATION and 

invention assignment AgreemenT

 

 

144965638 v1

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