Document:

Exhibit 10.1

 

STOCK PURCHASE AGREEMENT

 

This stock purchase agreement (this “Agreement”)
is made as of August 19, 2019, by and among Selecta Biosciences, Inc., a Delaware corporation (the “Company”),
and the individuals identified on the signature pages hereto (each an “Investor” and collectively, the
“Investors”).

 

Recitals

 

A.               
The Company and the Investors are executing and delivering this Agreement in reliance upon the exemption from securities
registration afforded by Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”),
and/or Rule 506 of Regulation D (“Regulation D”) as promulgated by the United States Securities and Exchange
Commission (the “SEC”) under the Securities Act; and

 

B.                
The Investors wish to purchase from the Company, and the Company wishes to issue and sell to the Investors, upon the terms
and subject to the conditions stated in this Agreement, shares of the Company’s Common Stock, par value $0.0001 per share
(the “Common Stock”).

 

In consideration of the mutual promises
made herein and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto agree as follows:

 

1.                 
Subscription and Closing.

 

(a)              
On the Closing Date (as defined below), upon the terms and subject to the conditions set forth herein, the Company
will issue and sell to each of the Investors, and each of the Investors, severally and not jointly, will purchase from the Company,
the number of Shares set forth on such Investor’s signature page at a purchase price of $1.81 per Share. The shares of Common
Stock to be purchased by the Investors hereunder are referred to herein as the “Shares”.

 

(b)              
The completion of the purchase and sale of the Shares contemplated hereby (the “Closing”)
shall take place remotely via the exchange of documents and signatures at 10:00 a.m., Eastern Time, on August 20, 2019, or
at such other time as the Company and the Investors shall agree (the “Closing Date”). At the Closing:
(i) the Company shall deliver or cause to be delivered to each Investor the number of Shares, registered in book-entry
form in the name of such Investor, purchased by such Investor hereunder, and (ii) each Investor shall cause the purchase
price for the Shares purchased by such Investor hereunder to be delivered to the Company by wire transfer of immediately available
funds pursuant to the wire instructions delivered provided by the Company.

 

2.                 
Representations and Warranties of the Company. The Company represents and warrants to each Investor
that:

 

(a)              
The Company has the requisite right, power and authority to enter into this Agreement, to authorize, issue and sell
the Shares as contemplated by this Agreement and to perform and to discharge its obligations hereunder; and this Agreement has
been duly authorized, executed and delivered by the Company.

 

     

     

    

 

(b)              
The Shares to be issued and sold by the Company to the Investors under this Agreement have been duly authorized and
the Shares, when issued and delivered against payment therefor as provided in this Agreement, will be validly issued, fully paid
and non-assessable.

 

3.                 
Representations, Warranties and Covenants of the Investors. Each Investor acknowledges and, represents
and warrants to, and agrees with, the Company that:

 

(a)              
Such Investor acknowledges its understanding and agreement that the Shares are characterized as “restricted
securities” under the U.S. federal securities laws inasmuch as they are being offered in a transaction not involving any
public offering within the Unites States within the meaning of the Securities Act, that the Shares have not been registered under
the Securities Act or the securities laws of any jurisdiction and, unless so registered, may not be sold except as exempt from
registration under the Securities Act.

 

(b)              
Such Investor acknowledges its understanding that the offering and sale of the Shares is intended to be exempt from
registration under the Securities Act and that the Company is relying on the Investors’ representations and warranties in
connection with such exemption.

 

(c)              
At the time such Investor was offered the Shares, it was and, as of the date hereof, such Investor is an “accredited
investor” as defined in Rule 501(a) under the Securities Act (and has executed and delivered to the Company its Investor
Questionnaire, which the Investor represents and warrants is true, correct and complete) and has a substantive, pre-existing relationship
with the Company and the management of the Company.

 

(d)              
Such Investor is acquiring the Shares solely for such Investor’s own beneficial account (and not for the account
of others), for investment purposes, and not with a view towards, or resale in connection with, any distribution of the Shares
in violation of the Securities Act, and such Investor has no present intention of selling, granting any participation in, or otherwise
distributing the same in violation of the Securities Act without prejudice, however, to such Investor’s right at all times
to sell or otherwise dispose of all or any part of such Shares in compliance with applicable federal and state securities laws.

 

(e)              
Such Investor acknowledges that it can bear the economic risk and complete loss of its investment in the Shares and
has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks of the
investment contemplated hereby.

 

(f)               
Such Investor understands and agrees that certificates or book-entry notations for the Shares shall bear or reflect,
as applicable, a legend substantially similar to the following:

 

“THE SECURITIES REPRESENTED
HEREBY HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE SECURITIES COMMISSION OF ANY STATE IN RELIANCE
UPON AN EXEMPTION FROM REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND, ACCORDINGLY, MAY NOT BE TRANSFERRED UNLESS
(I) SUCH SECURITIES HAVE BEEN REGISTERED FOR SALE PURSUANT TO THE SECURITIES ACT OF 1933, AS AMENDED, (II) SUCH SECURITIES MAY
BE SOLD PURSUANT TO RULE 144, OR (III) THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO IT THAT SUCH TRANSFER
MAY LAWFULLY BE MADE WITHOUT REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED. THESE SECURITIES ARE SUBJECT TO TRANSFER
AND OTHER RESTRICTIONS SET FORTH IN A STOCK PURCHASE AGREEMENT, DATED AUGUST 19, 2019, COPIES OF WHICH ARE ON FILE WITH THE COMPANY.”

 

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(g)              
Such Investor did not learn of the investment in the Shares as a result of any general solicitation or general advertising.

 

(h)              
No Person (as defined below) will have, as a result of the transactions contemplated by this Agreement, any valid
right, interest or claim against or upon the Company or such Investor for any commission, fee or other compensation pursuant to
any agreement, arrangement or understanding entered into by or on behalf of such Investor. For the purposes of this Agreement,
“Person” means an individual, corporation, partnership, limited liability company, trust, business trust,
association, joint stock company, joint venture, sole proprietorship, unincorporated organization, governmental authority or any
other form of entity not specifically listed herein.

 

(i)                
Such Investor covenants that neither it nor any Affiliate (as defined below) acting on its behalf or pursuant to
any understanding with it will execute any short sales during the period from the date hereof until the earlier of such time as
(i) after the transactions contemplated by this Agreement are first publicly announced or (ii) this Agreement is terminated in
full. Such Investor covenants that until such time as the transactions contemplated by this Agreement are publicly disclosed by
the Company, such Investor will maintain the confidentiality of all disclosures made to it in connection with this transaction
(including the existence and terms of this transaction). For the purposes of this Agreement, “Affiliate”
means, with respect to any Person, any other Person which directly or indirectly through one or more intermediaries Controls, is
controlled by, or is under common Control with, such Person, and “Control” (including the terms “controlling”,
“controlled by” or “under common control with”) means the possession, direct or indirect, of the power
to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities,
by contract or otherwise.

 

(j)                
Such Investor has not taken any of the actions set forth in, and is not subject to, the disqualification provisions
of Rule 506(d)(1) of the Securities Act.

 

4.                 
Conditions to Obligations of the Investors. The obligation of each Investor to purchase Shares at the
Closing is subject to the fulfillment to such Investor’s satisfaction, on or prior to the Closing Date, of the following
conditions, any of which may be waived by such Investor:

 

    3

     

    

 

(a)              
The representations and warranties made by the Company in Section 2 hereof shall be true and correct in all
material respects.

 

(b)              
The Company shall have performed in all material respects all obligations and covenants herein required to be performed
by it on or prior to the Closing Date.

 

(c)              
All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United
States or of any state that are required in connection with the lawful issuance and sale of the Shares pursuant to this Agreement
shall be obtained and effective as of the Closing.

 

5.                 
Conditions to Obligations of the Company. The Company’s obligation to sell and issue Shares at
the Closing is subject to the fulfillment to the satisfaction of the Company on or prior to the Closing Date of the following conditions,
any of which may be waived by the Company:

 

(a)              
The representations and warranties made by the Investors in Section 3 hereof shall be true and correct in all
material respects.

 

(b)              
The Investors shall have performed in all material respects all obligations and covenants herein required to be performed
by the Investors on or prior to the Closing Date.

 

(c)              
All authorizations, approvals or permits, if any, of any governmental authority or regulatory body of the United
States or of any state that are required in connection with the lawful issuance and sale of the Shares pursuant to this Agreement
shall be obtained and effective as of the Closing.

 

6.                 
Miscellaneous.

 

(a)              
Successors and Assigns. This Agreement may not be assigned by the Company without the prior written consent
of each of the Investors. This Agreement may not be assigned by any Investor without the prior written consent of the Company.
The provisions of this Agreement shall inure to the benefit of and be binding upon the respective permitted successors and assigns
of the parties. Nothing in this Agreement, express or implied, is intended to confer upon any party other than the parties hereto
or their respective permitted successors and assigns any rights, remedies, obligations, or liabilities under or by reason of this
Agreement, except as expressly provided in this Agreement.

 

(b)              
Entire Agreement; Modifications. Except as otherwise provided herein, this Agreement constitutes the entire
understanding and agreement between the parties with respect to its subject matter and there are no agreements or understandings
with respect to the subject matter hereof which are not contained in this Agreement. This Agreement may be modified or terminated
only in writing signed by the Company and each of the Investors.

 

(c)              
Counterparts. This Agreement may be executed in any number of counterparts, all of which taken together shall
constitute one and the same instrument and shall become effective when counterparts have been signed by each party and delivered
to the other parties hereto, it being understood that all parties need not sign the same counterpart. Execution may be made by
delivery of a facsimile or PDF.

 

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(d)              
Governing Law; Consent to Jurisdiction; Waiver of Jury Trial. This Agreement and any controversy arising out
of or relating to this Agreement shall be governed by, and construed in accordance with, the internal laws of the Commonwealth
of Massachusetts, without regard to the choice of law principles that would result in the application of any law other than the
law of the Commonwealth of Massachusetts. Each of the parties hereto irrevocably submits to the exclusive jurisdiction of the courts
of the Commonwealth of Massachusetts located in Suffolk County and the United States District Court for the District of Massachusetts
for the purpose of any suit, action, proceeding or judgment relating to or arising out of this Agreement and the transactions contemplated
hereby. Service of process in connection with any such suit, action or proceeding may be served on each party hereto anywhere in
the world by the same methods as are specified for the giving of notices under this Agreement. Each of the parties hereto irrevocably
consents to the jurisdiction of any such court in any such suit, action or proceeding and to the laying of venue in such court.
Each party hereto irrevocably waives any objection to the laying of venue of any such suit, action or proceeding brought in such
courts and irrevocably waives any claim that any such suit, action or proceeding brought in any such court has been brought in
an inconvenient forum. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT TO REQUEST A TRIAL BY JURY IN ANY LITIGATION WITH RESPECT
TO THIS AGREEMENT AND REPRESENTS THAT COUNSEL HAS BEEN CONSULTED SPECIFICALLY AS TO THIS WAIVER.

 

[Signature pages follow]

 

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IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	SELECTA BIOSCIENCES, INC.
	 	 
	 	 
	 	By:	/s/ Omid Farokhzad, M.D.
	 	Name:	Omid Farokhzad, M.D.
	 	Title: 	Chairman of the Board of Directors

 

    

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/ Carsten Brunn, Ph.D.	 
	 	Name: Carsten Brunn, Ph.D.	 

   

	Number of Shares:	 41,436	 
	 	 	 
	Subscription Amount:	 $74,999.16	 
	 	 	 
	Taxpayer Identification Number:	 [***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/
    Takashi Kei Kishimoto	 
	 	Name: Takashi Kei Kishimoto	 

 

	Number of Shares:	50,000	 
	 	 	 
	Subscription Amount:	$90,500	 
	 	 	 
	Taxpayer Identification Number:	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/ Elona Kogan	 
	 	Name: Elona Kogan	 

 

	Number of Shares:	82,872	 
	 	 	 
	Subscription Amount:	$149,998.32	 
	 	 	 
	Taxpayer Identification Number:	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/ Patrick Zenner	 
	 	Name: Patrick Zenner	 

 

	Number of Shares: 	55,248	 
	 	 	 
	Subscription Amount: 	$99,998.88	 
	 	 	 
	Taxpayer Identification Number:	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	TAS Partners, LLC	 
	 	 	 
	 	 	 
	By:  	/s/ Timothy A. Springer	 
	 	Name: Timothy A. Springer	 
	 	Title: Manager	 

 

	Number of Shares:	1,100,000	 
	 	 	 
	Subscription Amount:	$1,991,000	 
	 	 	 
	Taxpayer Identification Number: 	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/ Timothy A. Springer	 
	 	Name: Timothy A. Springer	 

 

	Number of Shares: 	1,600,000	 
	 	 	 
	Subscription Amount:	$2,896,000	 
	 	 	 
	Taxpayer Identification Number:	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	Eiger Trust	 
	 	 	 
	 	 	 
	By:  	/s/ Jonathan Nicholson	 
	 	Name: Jonathan Nicholson	 
	 	Title: Manager	 

 

	Number of Shares:	165,746	 
	 	 	 
	Subscription Amount:	$300,000.26	 
	 	 	 
	Taxpayer Identification Number:	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/ Stephen Smolinski	 
	 	Name: Stephen Smolinski	 

 

	Number of Shares:	13,812	 
	 	 	 
	Subscription Amount:	$24,999.72	 
	 	 	 
	Taxpayer Identification Number: 	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/ Scott D. Myers	 
	 	Name: Scott D. Myers	 

 

	Number of Shares:	41,436	 
	 	 	 
	Subscription Amount: 	$74,999.16	 
	 	 	 
	Taxpayer Identification Number:	[***]	 

 

     

     

    

 

IN WITNESS WHEREOF, the parties hereto have
executed this Agreement as of the date first written above.

 

	 	INVESTOR:	 
	 	 	 
	 	 	 
	 	/s/ Horacio Plotkin	 
	 	Name: Horacio Plotkin	 

 

	Number of Shares: 	27,624	 
	 	 	 
	Subscription Amount:	$49,999.44	 
	 	 	 
	Taxpayer Identification Number:	[***]Exhibit

Exhibit 4.9

FIRST AMENDMENT
TO THE
CARDINAL HEALTH 401(K) SAVINGS PLAN
(As Amended and Restated January 1, 2016)

Background Information

		
	A.
	Cardinal Health, Inc. (“Cardinal Health”) previously adopted and currently maintains the Cardinal Health 401(k) Savings Plan (the “Plan”) for the benefit of employees of Cardinal Health and its subsidiaries and affiliates.

		
	B.
	Section 12.02 of the Plan (as in effect prior to this First Amendment) provides that the Plan may be amended at any time, provided that such amendment(s) are approved or ratified by Cardinal Health’s board of directors (the “Board”), any committee thereof, an authorized officer of Cardinal Health, or another authorized party.

		
	C.
	Pursuant to authority delegated to it by the Human Resources and Compensation Committee of the Board, the Benefits Policy Committee (the “BPC”) is authorized to make certain material amendments to the Plan.

		
	D.
	The BPC desires to amend the Plan to: (1) modify the Plan’s safe harbor matching contribution formula; (2) modify the Plan’s governance processes and amendment authority; and (3) make other technical and conforming changes.  The aforementioned changes fall within the BPC’s delegated authority.

Amendment of the Cardinal Health 401(k) Savings Plan

The Plan is hereby amended as set forth below, effective as of January 1, 2018.

		
	1.
	A new Section 1.15A, “FBPC,” is hereby added to the Plan to read as follows:

“Section 1.15A   FBPC.  The Financial Benefit Plans Committee of the Company.”

		
	2.
	Section 1.27 of the Plan, “Plan Administrator,” is hereby amended to read as follows:

“Section 1.27    Plan Administrator.  The FBPC shall be the Plan Administrator of the Plan.”

3.    A new Section 1.36A, “Special Contribution Account,” is hereby added to the Plan to read as follows:

“Section 1.36A  Special Contribution Account.  That portion of a Participant’s Account credited with Special Contributions under Sections 3.02 and 3.03, and adjustments relating thereto.”

		
	4.
	Section 1.41 of the Plan, “Trust,” is hereby amended to read as follows:

“Section 1.41    Trust.  The Trust known as the Cardinal Health, Inc. U.S. Qualified Plans Master Trust and maintained in accordance with the terms of the trust agreement between the Plan Administrator and the Trustee, as amended from time to time.”

		
	5.
	Section 1.43 of the Plan, “Trustee,” is hereby amended to read as follows:

“Section 1.43    Trustee.  The entity or person(s) appointed by the Plan Administrator in accordance with Section 7.01 of the Plan.”

6.    Section 1.45 of the Plan, “Terms Defined Elsewhere,” is hereby amended to add the following sentence at the beginning thereof:

“This Section 1.45 is intended for informational purposes only and nothing herein shall be construed to alter any provisions of the Plan, the rights and/or responsibilities of any party under the Plan.”

7.    Section 3.02 of the Plan, “Employer Contributions,” is hereby renamed as “Company Performance Contributions,” and is amended to read as follows:

“Section 3.02    COMPANY PERFORMANCE CONTRIBUTIONS.  For each Plan Year, an Employer may make “Company Performance Contributions” to the Trust in such amounts determined in the discretion of the Board (or another entity or person designated by the Board) based on profitability or other relevant factors related to the performance of the Company.  Such Company Performance Contributions will be in the form of “Employer Contributions” and/or “Special Contributions,” as described in Section 3.03(B).  The amount contributed in any year may vary in the discretion of the Board (or such other entity or person designated by the Board).  An Employer shall not make a contribution to the Trust for any taxable year to the extent the contribution would exceed the maximum deduction limitations under Code Section 404 for such taxable year.  All contributions are conditioned on their deductibility under the Code.

8.    The first two sentences of Section 3.07(B)(i) of the Plan, “Amount,” are hereby amended to read as follows:

		
	“(i)
	Amount.  Matching Contributions sufficient to meet the “safe harbor” requirements of Section 401(k)(12) of the Code shall be made to each eligible Participant’s Account and shall be referred to as “Safe Harbor Matching Contributions.”  Specifically, on and after January 1, 2018, the Employer shall match 200% of each Participant’s Compensation Deferral Contributions that do not exceed 1% of the Participant’s Compensation, 100% of each Participant’s Compensation Deferral Contributions that exceed 1% of the Participant’s Compensation but that do not exceed 2% of the Participant’s Compensation, and 50% of each Participant’s Compensation Deferral Contributions that exceed 2% of the 

2

Participant’s Compensation but that do not exceed 5% of the Participant’s Compensation.”

9.    Section 7.01 of the Plan, “Establishment of Trust,” is hereby amended to read as follows:

“Section 7.01    ESTABLISHMENT OF TRUST.  The Plan Administrator shall execute an agreement with one or more persons or parties who shall serve as the Trustee (such agreement the “Trust Agreement”).  The Trustee so selected shall serve as the Trustee until otherwise replaced or until such Trust Agreement is terminated.  The Plan Administrator may, from time to time, enter into such further agreements with the Trustee or other parties and make such amendments to the Trust Agreement as it may deem necessary or appropriate to administer the Plan.  Any and all rights or benefits that may accrue to a person under this Plan shall be subject to all the terms and provisions of the Trust Agreement.”

10.    The first sentence of Section 7.04 of the Plan, “Indemnity by Employer,” is hereby amended to read as follows:

“Section 7.04    INDEMNITY BY EMPLOYER.  Each Employer indemnifies and saves harmless the Plan Administrator, any committee of the Board, and each individual member thereof, from and against any and all loss (including reasonable attorney’s fees and costs of defense) resulting from liability to which the Plan Administrator, such committee, or such individual member thereof may be subjected by reason of any act or conduct in their official capacities in the administration of the Trust or this Plan or both, including expenses reasonably incurred in their defense, in case the Employer fails to provide such defense.”

11.    Section 8.04 of the Plan, “Notice of Change in Terms,” is hereby amended to read as follows:

“Section 8.04    NOTICE OF CHANGE IN TERMS.  The Plan Administrator, within the time prescribed by ERISA and the applicable regulations, shall furnish all Participants and Beneficiaries a summary description of any material amendment to the Plan or notice of discontinuance of the Plan and all other information required by ERISA to be furnished without charge.”

12.    Section 8.05 of the Plan, “Participant Direction of Investment,” is hereby amended by removing the erroneous period from the phrase “the. Trustee” appearing in the last sentence of the second paragraph thereof.

13.    Section 8.08 of the Plan, “Information Available,” is hereby amended to read as follows:

“Section 8.08    INFORMATION AVAILABLE.  Any Participant in the Plan or any Beneficiary may examine copies of the Plan, the Trust, the Plan’s summary plan description, the latest annual report, any bargaining agreement, contract or any other instrument under which the Plan was established or is operated.  The Plan Administrator will maintain all of the items listed in this Section 8.08 in its offices, or in such other place or places as it may designate from time to time in order to comply with the regulations 

3

issued under ERISA, for examination during reasonable business hours.  Upon the written request of a Participant or Beneficiary, the Plan Administrator shall furnish him with a copy of any item listed in this Section 8.08.  The Plan Administrator may make a reasonable charge to the requesting person for the copy so furnished.”

14.    The third sentence of Section 9.01 of the Plan, “Administrator, Trustee, and Fiduciaries,” is hereby amended to read as follows:

“The Plan Administrator shall have the sole authority to appoint and remove the Trustee.”

15.    A new Section 9.01A, “FBPC Meetings and Membership,” is hereby added to the Plan to read as follows:

“Section 9.01A    FBPC MEETINGS AND MEMBERSHIP.  The FBPC shall be comprised of the following members:  (1) Senior Vice President of the Company overseeing Benefits; (2) An individual designated by the Chief Human Resources Officer (“CHRO”) of the Company; (3) Treasurer of the Company; and (4) An individual designated by the Chief Financial Officer (“CFO”) of the Company.  Each Member of the FBPC shall serve without the need of a formal appointment or resignation, so long as she or he holds the position, or is designated in writing as the stated designee of the CHRO or CFO.  The designee of the CFO shall chair the FBPC.

The FBPC shall meet quarterly as determined by the FBPC and at such other times as necessary to perform its duties.  A majority of the members of the FBPC constitutes a quorum.  The FBPC may act by a majority vote at a meeting or by a writing approved by a majority of its members without a meeting.  The FBPC may adopt such rules and procedures as are necessary or appropriate, as determined in the FBPC’s discretion, to carry out its responsibilities with respect to the Plan.”

16.    Section 9.02 of the Plan, “Plan Administrator Powers and Duties,” is hereby amended to read as follows:

“Section 9.02    PLAN ADMINISTRATOR POWERS AND DUTIES.  The Plan Administrator shall have full power, authority and discretion to control and manage the operation and administration of the Plan.  The discretionary authority of the Plan Administrator shall include, but not be limited to, the following:

		
	A.
	To determine the rights of eligibility of an Employee to participate in the Plan, the value of a Participant’s Account, and the Nonforfeitable percentage of each Participant’s Account;

		
	B.
	To adopt rules and procedures necessary for the proper and efficient administration of the Plan, provided the rules and procedures are not inconsistent with the terms of this Plan and the Trust;

		
	C.
	To construe, interpret and enforce the terms of the Plan and the rules and regulations it adopts, including the discretionary authority to interpret the Plan documents, documents related to the Plan’s operation, and findings of fact;

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	D.
	To direct the Trustee with respect to the crediting and distribution of the Trust;

		
	E.
	To review and render decisions respecting claims (including appeals of denied claims) in accordance with the Plan’s claims procedures;

		
	F.
	To furnish an Employer with information that the Employer may require for tax or other purposes;

		
	G.
	To engage such legal (including legal counsel of the Employer), accounting, recordkeeping, clerical, investment and/or administrative services that it may deem necessary or appropriate for the proper administration or operation of the Plan;

		
	H.
	To engage the services of agents (to perform fiduciary and/or nonfiduciary functions) whom it may deem advisable to assist it with the performance of its duties;

		
	I.
	To engage the services of an investment manager or investment managers (as defined in Section 3(38) of ERISA), each of whom shall have full power and authority to manage, acquire or dispose (or direct the Trustee with respect to acquisition or disposition) of any Plan asset under its control;

		
	J.
	As permitted by the Employee Plans Compliance Resolution System (“EPCRS”) issued by the Internal Revenue Service (“IRS”), as in effect from time to time, either directly or through its delegates, (i) to voluntarily correct any Plan qualification failure, including, but not limited to, failures involving Plan operation, impermissible discrimination in favor of highly compensated employees, the specific terms of the Plan document, or demographic failures; (ii) implement any correction methodology permitted under EPCRS; and (iii) negotiate the terms of a compliance statement or a closing agreement proposed by the IRS with respect to correction of a plan qualification failure;

		
	K.
	To allocate fiduciary responsibilities (other than the trustee responsibilities as defined in Section 405(c)(3) of ERISA) to any person;

		
	L.
	To delegate responsibility (including the responsibilities described in this Section 9.02) to others, including, but not limited to benefits staff of the Company and third parties engaged to provide services to the Plan; 

		
	M.
	To keep such records, books of account, data and other documents as may be necessary for the proper administration of the Plan;

		
	N.
	To prepare and distribute to Participants and Beneficiaries information concerning the Plan and their rights under the Plan, including, but not 

5

limited to, information that is required to be distributed by ERISA, the Code, regulations under each, or by any other applicable law;

		
	O.
	To file with the Secretary of Treasury or the Secretary of Labor such reports and additional documents as may be required to be filed (or deemed appropriate to be filed) under the Code, ERISA and regulations issued under each; and

		
	P.
	To do all things necessary or appropriate to operate and administer the Plan in accordance with its provisions and in compliance with applicable provisions of law.

When making a determination or calculation, the Plan Administrator shall be entitled to rely upon information furnished by a Participant, Beneficiary, an Employer, the legal counsel, or the Trustee.  Benefits under the Plan shall be paid only if the Plan Administrator (or its delegate) decides in its discretion that the applicant is entitled to such benefits under the Plan.”

17.    The first sentence of Section 9.10 of the Plan, “Fees and Expenses from Fund,” is hereby amended to read as follows:

“Section 9.10    FEES AND EXPENSES FROM FUND.  The Trustee shall receive reasonable annual compensation as may be agreed upon from time to time between the Plan Administrator and the Trustee.”

18.    Section 12.02 of the Plan, “Amendment by Company,” is hereby renamed as “Plan Amendments,” and is amended in its entirety to read as follows:

“Section 12.02      PLAN AMENDMENTS.  The Company may amend the Plan at any time and in any respect through a written resolution adopted or approved by the Board, or by: 

		
	A.
	the FBPC, with respect to any amendment that: (i) is required by law to maintain the tax-qualified status of the Plan, or (ii) when aggregated with any other amendment or amendments approved on the same date, is reasonably expected to have an annual financial impact on the Company of $5 million or less;

		
	B.
	the CHRO of the Company, with respect to any amendment that, when aggregated with any other amendment or amendments approved on the same date, is reasonably expected to have an annual financial impact on the Company of $20 million or less; and

		
	C.
	the Chief Executive Officer of the Company.

However, no amendment shall authorize or permit any part of the Trust Fund (other than the part required to pay taxes and administrative expenses) to be used for or diverted to purposes other than for the exclusive benefit of the Participants or their Beneficiaries or estates.  No amendment shall cause or permit any portion of the Trust 

6

Fund to revert to or become a property of an Employer.  Furthermore, no amendment shall decrease a Participant’s Account balance or accrued benefit or reduce or eliminate any benefits protected under Code Section 411(d)(6) with respect to a Participant with an Account balance or accrued benefit at the date of the amendment, except to the extent permitted under Code Section 412(d)(2) or other applicable law or regulation.”

19.    All other provisions of the Plan shall remain in full force and effect.

	
			
	 
	CARDINAL HEALTH, INC.
BENEFITS POLICY COMMITTEE

	 
	By:
	/s/ Pamela O. Kimmet

	 
	Its:
	Chief HR Officer

	 
	Date:
	November 27, 2017

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