Document:

Exhibit 10.14

 

EXECUTION VERSION

 

August 16, 2019          

 

Daniel S. Lynch

 

 

	Re:		Employment Agreement Termination Letter

 

Dear Mr. Lynch:

Reference is hereby
made to that certain Employment Agreement (the “Agreement”) dated as of February 1, 2018, by and between SpringWorks
Therapeutics Operating Company, Inc. (together with its predecessors, subsidiaries, and affiliates, including its parent entity,
the “Company”), and you.

The Company and you
agree that the Agreement is terminated effective as of the time (the “Effective Time”) immediately prior to
the Company’s first public filing with the Securities and Exchange Commission in connection the initial public offering of
the Company’s common stock under the Securities Act of 1933, as amended (a “Company IPO”). As of the date
hereof, you agree that you will no longer serve as the Executive Chair of the Board of Directors of the Company, but instead will
continue to serve as a director and Chair of the Board of Directors of the Company (and your signature below will serve as your
resignation as an employee and Executive Chair effective as of the Effective Time).

The Company and you
also agree that upon termination of the Agreement, the following will apply:

		(i)	all of the rights and obligations that have accrued to the parties pursuant to the Agreement as
of the date hereof shall not be affected by this letter agreement;

		(ii)	notwithstanding Section 18 of the Agreement, all future rights and obligations of the parties
under the Agreement are terminated in their entirety;

		(iii)	notwithstanding anything contained in the Agreement or in any other equity award agreement granted
to you by the Company, upon a Sale of the Company (as defined below), the vesting schedule of all equity awards held by you shall
be accelerated in full and all unvested equity (restricted stock and stock options) shall be immediately exercisable with respect
to the full number of shares of common stock represented thereby. A “Sale of the Company” means, regardless of form
thereof, consummation of (a) the sale of all or substantially all of the assets of the Company on a consolidated basis to an unrelated
person or entity, (b) a merger, reorganization or consolidation in which the outstanding capital stock of the Company are converted
into or exchanged for securities of the successor entity and the holders of the Company’s outstanding voting power immediately
prior to such transaction do not own, in substantially the same proportions, a majority of the outstanding voting power of the
successor entity immediately upon completion of such transaction, (c) the sale of all or a majority of the capital stock of the
Company to an unrelated person or entity or (d) any other transaction in which the owners of the Company’s outstanding voting
power immediately prior to such transaction do not own, in substantially the same proportions, a majority of the outstanding voting
power of the successor entity immediately upon completion of the transaction, provided that in no event will any capital raising
transaction (including the Company’s planned initial public offering of its common stock) be treated as a “Sale of
the Company” hereunder.

    	 	 	 

     

    

 

  

		(iv)	in the event that you no longer serve as a director on the
Company’s Board of Directors (other than due to your removal for Cause (as defined below) or your voluntary resignation),
or the Board of Directors of the Company (or a committee thereof) fails to nominate you for election as a director at a meeting
of the stockholders of the Company at or prior to the expiration of your then current term, the portion of your existing
equity awards that would have otherwise vested during the Applicable Period (as defined below) following the date on which you
cease to serve on the Company’s Board of Directors if not for your termination or failure to be nominated for reelection,
shall immediately accelerate and vest in full.

 

		a.	For purposes of this letter agreement, “Cause” shall mean: (i) your conviction of,
or pleading nolo contendere to, any felony, or a misdemeanor involving moral turpitude, deceit, dishonesty or fraud, or any similar
criminal conduct by you that would reasonably be expected to result in material injury or reputational harm to the Company if you
were retained in your position; (ii) your intentional misconduct or willful or gross neglect of your material duties, which such
intentional misconduct or willful or gross neglect you fail to cure within thirty (30) days following the receipt of notice from
the Chief Executive Officer of the Company or the Board of Directors (the “Cure Period”); (iii) your chronic or habitual
use or consumption of illegal drugs or alcoholic beverages on the Company’s premises or such that it materially interferes
with your performance of your duties as Chair of the Company’s Board of Directors which has continued following written notice
thereof from the Company’s Chief Executive Officer or Board of Directors and after the Cure Period; (iv) material breach
by you of any of the provisions contained in the Confidentiality, Assignment of Inventions and Restrictive Covenant Agreement by
and between the Company and you, dated as of June 29, 2018, which is not cured by you during the Cure Period; (v) a material violation
or failure to comply by you with the Company’s written policies, which is not cured during the Cure Period; or (vi) failure
to cooperate with a bona fide internal investigation or an investigation by regulatory or law enforcement authorities, after being
instructed by the Board of Directors to cooperate, or the willful destruction or failure to preserve documents or other materials
known to be relevant to such investigation or the inducement of others to fail to cooperate or to produce documents or other materials
in connection with such investigation.

 

		b.	For purposes of this letter agreement, “Applicable Period” shall mean a period of twelve
(12) successive months plus two (2) additional successive months for each full year of service to the Company (including, without
limitation, your service as a director and Chair of the Board of Directors of the Company), measured from February 1, 2018, up
to a maximum aggregate period of eighteen (18) successive months.

 

The above paragraph
will apply only to equity awards granted to you by the Company as of the date hereof but will not apply to any future equity awards
granted to you by the Company, which will be governed solely by the terms of the specific equity award agreements.

    	 	 	 

     

    

 

In the event that
the Company IPO has not been consummated prior to September 30, 2019 or, if earlier, upon the Company abandoning plans to consummate
the Company IPO prior to September 30, 2019, then, promptly following such event, the Company and you shall each work in good faith
to enter into an employment agreement having terms and conditions substantively equivalent to those of the Agreement prior to the
effectiveness of this letter agreement.

This letter agreement
constitutes the entire agreement between the parties and supersedes all prior agreements and understandings, whether written or
oral, relating to the subject matter of this letter agreement, including without limitation, the Agreement.

If you are agreement
with the foregoing, please sign and return this letter agreement to the Company. Thank you very much for your continued service
to and support of the Company, and please do not hesitate to contact me with any questions.

 [signature
page follows]

 

    	 	 	 

     

    

 

 

 Sincerely,

 

SPRINGWORKS THERAPEUTICS OPERATING
COMPANY, INC.

 

By: /s/ Saqib Islam______________________________

Name: Saqib Islam

Title: Chief Executive Officer

 

 

AGREED TO AND ACCEPTED BY:

 

 

By:  /s/ Daniel S.
Lynch______________________________

Name: Daniel S. LynchExhibit 10.1

 

 

 

First Amendment To Amended
and Restated Credit Agreement

 

 

 

By
And Among

 

 

Escalade,
Incorporated

 

And

 

Indian
Industries, Inc.

 

And

 

The
Other Loan Parties Hereto

 

And

 

The
Lenders Party Hereto

 

And

 

JPMorgan
Chase Bank, N.A.,

As Administrative Agent

 

 

 

 

Dated
As Of SEPTEMBER 3, 2019

 

 

 

     

     

    

 

First
Amendment To Amended and Restated

Credit
Agreement

 

 

This
First Amendment To Amended and Restated Credit Agreement (this “First Amendment”) is made as of the 3rd
day of September, 2019, by and among Escalade, Incorporated, Indian Industries, Inc.,
the Other Loan Parties hereto, the Lenders party hereto and JPMorgan Chase Bank, N.A., as
administrative agent (in such capacity, the “Administrative Agent”). The parties hereto agree as follows:

 

W I T N E S S E T H:

 

Whereas,
as of January 21, 2019, the parties hereto entered into a certain Amended and Restated Credit Agreement (the “Agreement”);
and

 

Whereas,
the parties desire to amend the Agreement to increase the permitted amount of share repurchases, subject to and as provided in
this First Amendment;

 

Now,
Therefore, in consideration of the premises, and the mutual promises herein contained, the parties agree that the Agreement
shall be, and it hereby is, amended as provided herein and the parties further agree as follows:

 

 

Article
VI

 

Negative
Covenants

 

SECTION 6.08. Restricted Payments; Certain
Payments of Indebtedness. Section 6.08(a) of the Agreement is hereby amended by substituting the following new Section 6.08(a)
in lieu of the existing Section 6.08(a):

 

(a) No
Loan Party will, nor will it permit any Subsidiary to, declare or make, or agree to declare or make, directly or indirectly, any
Restricted Payment, or enter into any transaction that has a substantially similar effect or incur any obligation (contingent or
otherwise) to do so, except (i) the Borrowers may declare and pay dividends with respect to its common stock payable solely in
additional shares of its common stock, and, with respect to its preferred stock, payable solely in additional shares of such preferred
stock or in shares of its common stock, (ii) so long as there exists no Event of Default, the Borrowers may, to the extent required
by law, repurchase fractional shares of Borrowers’ Equity Interests up to an aggregate repurchase total for all fractional
shares repurchased of $500,000, (iii) the Borrowers may issue its common stock pursuant to the Borrowers’ stock option plan
existing on the Effective Date, (iv) so long as there exists no Event of Default, during the period beginning on the Effective
Date and continuing to and including the Maturity Date, the Borrowers may purchase shares of Borrowers’ Equity Interests
up to an aggregate purchase total for all shares repurchased of $5,000,000; and (v) the Borrowers may declare and pay dividends
so long as there exists no Event of Default.

 

    	First Amendment to Amended and Restated Credit Agreement	Page 1 

     

    

  

Part
II. Continuing Effect

 

Except as expressly
modified herein:

 

(a)       All
terms, conditions, representations, warranties and covenants contained in the Agreement shall remain the same and shall continue
in full force and effect, interpreted, wherever possible, in a manner consistent with this First Amendment; provided, however,
in the event of any irreconcilable inconsistency, this First Amendment shall control;

 

(b)       The
representations and warranties contained in the Agreement shall survive this First Amendment in their original form as continuing
representations and warranties of Borrowers; and

 

(c)       Capitalized
terms used in this First Amendment, and not specifically herein defined, shall have the meanings ascribed to them in the Agreement.

 

In consideration hereof,
each Borrower represents, warrants, covenants and agrees that:

 

(aa)Each representation
and warranty set forth in the Agreement, as hereby amended, remains true and correct as of the date hereof in all material respects,
except to the extent that such representation and warranty is expressly intended to apply solely to an earlier date and except
changes reflecting transactions permitted by the Agreement;

 

(bb)There currently
exist no offsets, counterclaims or defenses to the performance of the Obligations (such offsets, counterclaims or defenses, if
any, being hereby expressly waived);

 

(cc)Except as expressly
waived in this First Amendment, there does not exist any Default or Event of Default; and

 

(dd)After giving
effect to this First Amendment and any transactions contemplated hereby, no Default or Event of Default is or will be occasioned
hereby or thereby.

 

 

Part
III. Independent Credit Decision

 

Each Lender acknowledges
that it has, independently and without reliance upon the Administrative Agent or any other Lender, based on such documents and
information as it has deemed appropriate, made its own credit analysis and decision to enter into this First Amendment.

 

    	First Amendment to Amended and Restated Credit Agreement	Page 2 

     

    

 

Part
IV. Conditions Precedent

 

Notwithstanding anything
contained in this First Amendment to the contrary, this First Amendment shall not become effective until each of the following
conditions precedent have been fulfilled to the satisfaction of the Administrative Agent:

 

(a)       The
Administrative Agent shall have received counterparts of this First Amendment, duly executed by the Administrative Agent, Borrowers,
the Loan Guarantors and the Lenders;

 

(b)       The
Administrative Agent shall have received a duly executed certificate of the Secretary of each Borrower (A) certifying as to the
authorizing resolutions of such Borrower, and (B) certifying as complete and correct as to attached copies of its Articles of Incorporation
and By-Laws or certifying that such Articles of Incorporation or By-Laws have not been amended (except as shown) since the previous
delivery thereof to the Administrative Agent;

 

(c)       The
Administrative Agent shall have received such documentation and other information requested in connection with applicable “know
your customer” and anti-money laundering rules and regulations, including the USA Patriot Act; and

 

(d)       All
legal matters incident to this First Amendment shall be reasonably satisfactory to the Administrative Agent and its counsel.

 

 

Part
V. Expenses

 

The Borrowers agree
to pay or reimburse the Administrative Agent for all reasonable expenses of the Administrative Agent (including, without limitation,
reasonable attorneys’ fees) incurred in connection with this First Amendment.

 

 

Part
VI. Counterparts

 

This First Amendment
may be executed in any number of counterparts, each of which shall be an original, but all of which taken together shall constitute
one and the same agreement. Delivery of an executed counterpart of this First Amendment by telefacsimile or other electronic method
of transmission shall have the same force and delivery of an original executed counterpart of this First Amendment. Any party delivering
an executed counterpart of this First Amendment by telefacsimile or other electronic method of transmission shall also deliver
an original executed counterpart of this First Amendment, but the failure to do so shall not affect the validity, enforceability,
and binding effect of this First Amendment.

 

In
Witness Whereof, the parties hereto have caused this First Amendment to be executed by their respective officers duly authorized
as of the date first above written.

 

 

 

[This Space Intentionally
Left Blank]

 

    	First Amendment to Amended and Restated Credit Agreement	Page 3 

     

    

 

Signature
Page Of

Escalade,
Incorporated

To
First Amendment to Amended and Restated Credit Agreement

 

 

	 	Escalade, Incorporated	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin 	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 

 

     

     

    

 

Signature
Page Of

Indian
Industries, Inc.

To
First Amendment to Amended and Restated Credit Agreement

 

 

	 	Indian Industries, Inc.	 
	 	 	 	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin 	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 

 

     

     

    

 

CONSENT AND REAFFIRMATION

 

Each of the undersigned
Loan Guarantors hereby consents to the foregoing First Amendment, and further agrees that the execution and delivery of such First
Amendment shall in no way affect, impair, discharge, relieve or release the obligations of the undersigned under its Loan Guaranty,
which obligations are hereby ratified, confirmed and reaffirmed in all respects and shall continue in full force and effect, until
all obligations of the Borrowers to the Lenders, the Issuing Bank and the Administrative Agent are fully, finally and irrevocably
paid and performed. Each Loan Guarantor further acknowledges that the failure to consent to any subsequent amendment shall not
affect the liability of such Loan Guarantor under its Loan Guaranty. Capitalized terms used herein and not defined have the meanings
ascribed thereto in the Agreement.

 

	 	BEAR ARCHERY, INC.	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	EIM COMPANY, INC.	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	ESCALADE INSURANCE, INC.	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	ESCALADE SPORTS PLAYGROUND, INC.
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	HARVARD SPORTS, INC.	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin 	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 

 

     

     

    

  

	 	SOP SERVICES, INC.	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	U.S. WEIGHT, INC.	 
	 	 	 	 
	 	 By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	WEDCOR HOLDINGS, INC.
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	GOALSETTER SYSTEMS, INC.
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	LIFELINE PRODUCTS, LLC
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	VICTORY MADE, LLC	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer	 
	 	 	 	 
	 	 	 	 
	 	VICTORY TAILGATE, LLC	 
	 	 	 	 
	 	By: 	/s/ Stephen R. Wawrin	 
	 	Name: 	Stephen R. Wawrin	 
	 	Title: 	Chief Financial Officer

                                           
	 

 

 

     

     

    

 

Signature
Page Of

JPMorgan
Chase Bank, N.A.

To
First Amendment to Amended and Restated Credit Agreement

 

 

	 	JPMORGAN CHASE BANK, N.A., individually and as Administrative Agent, Swingline Lender and Issuing Bank	 
	 	 	 	 	 
	 	 	 	 	 
	 	By 	/s/ Thomas W. Harrison	 
	 	 	Name: 	Thomas W. Harrison	 
	 	 	Title: 	Executive Director

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