Document:

Exhibit 10.33

 

 

QUARK BIOTECH, INC.

 

AT WILL EMPLOYMENT AGREEMENT

 

THIS EMPLOYMENT AGREEMENT (THE “AGREEMENT”) by
and between Quark Biotech, Inc., a California corporation (the “Company”), and
Gavin Samuels (the Employee”),

 

1.                    Commencement
Date. Employee’s at-will employment shall commence on March 1
2007 (the “Commencement Date”), according to the terms and conditions set forth
herein.

 

2.                    Title.
The Employee will serve as the company’s Senior Vice President
Business Development and will report to the CEO

 

3.                    Duties.
Employee will serve as the Company’s Senior Vice President
Business Development and will primarily be responsible of
business development or in such other capacity as the Company’s CEO may from
time to time request.

 

4.                     During the term of this Agreement,
Employee will devote all of his normal business time and attention to, and use
his best efforts to advance, the business of the Company. Employee agrees not
to engage actively in any other employment, occupation or consulting activity
for any direct or indirect remuneration without the prior approval of the CEO
(except President, Congregation Ohev Shalom; Treasurer, Jewish International
Connection New York, Inc.) The Company and the Employee acknowledge and agree
that any attempt by the Employee to engage in any other employment, occupation,
or consulting activity other than for the Company, regardless of whether such
activity is performed for remuneration, would materially affect the Employee’s
ability to devote all of his attention and best efforts to advancing the
business of the Company and that such activity would be in direct conflict with
the essential business-related interests of the Company. Employee and the
Company further acknowledge and agree that any attempt by the Employee to engage
in any other employment, occupation, or consulting activity other than for the
Company, regardless of whether such activity is performed for remuneration,
would constitute a material and substantial disruption of the Company’s
operations and, for this reason, Employee agrees that he shall not actively
engage in any other employment, occupation or consulting activity for any
direct or indirect remuneration without the prior written approval of the CEO.

 

653 Kaiser Drive, Fremont, California 94555 Tel: (510) 402-4020 Fax:
(510) 402-4021 www.quarkbiotech.com

 

 

 

5.                    Compensation
and Fringe Benefits. Employee shall be entitled to an initial
annual salary of $200,000, which will be paid monthly in accordance with the
Company’s normal payroll procedures. In addition, Employee will be entitled to
take all Company holidays as paid time off and will accrue 16 business days
vacation per year, with remuneration, which shall be coordinated with the
vacation periods of other officers of the Company in a manner that will
minimize disruption of the Company’s management efforts. As a full time
employee, Employee will also be eligible to receive certain benefits including
medical, dental, life/AD&D, short-term disability and long-term disability
coverage and participation in the Company 401(k) plan. At present, the Company
pays 80% of all medical and dental premiums and 100% of premiums for life,
AD&D and short term and long-term disability coverage. The Company may
modify job titles, salaries and benefits from time to time, as it deems
necessary in its sole discretion.

 

6.                    Bonuses:
Employee shall be entitled to General bonus to top executive Up to 20% of base
salary annually. Employee shall be also entitled to Extra 10% annual bonus
maximum, based on completed, significant business development transaction(s)

 

7.                    Stock
Options. Upon commencement of the Employee’s employment, the
Company shall submit for the Board’s approval the grant of an option for the
purchase of 125,000 shares of Common Stock, at a price per share, as determined
by the Company’s Board of Directors. Twenty-five Percent (25%) of the shares
subject to the option shall vest 12 months after the date Employee’s vesting
begins subject to continuing employment with the Company, and no shares shall
vest before such date. The remaining shares shall vest 1/48 per month over the
next 36 months subject to continuing employment with the Company. The vesting
schedule will be accelerated upon IPO of the Company; Forty Percent (40%) immediately
upon IPO and the remaining shall vest monthly until 4 years of employment. This
option grant shall be subject to the terms and conditions of the Company’s
Stock Option Plan and Stock Option Agreement, No right to any stock is earned
or accrued until such time that vesting occurs, nor does the grant confer any
right to continue vesting or employment. In the event of Change in Control (as
defined in the Company’s articles of incorporation), all outstanding granted
stock options will become fully vested

 

8.                    Expenses.
The Company will pay or reimburse Employee for home office expenses of flat
$10,000 annually. In addition, other expenses, travel, entertainment etc.
incurred by the Employee in the furtherance of or in connection with the
performance of Employee’s duties hereunder in accordance with the Company’s
establish policies. For these expenses only Applicant shall furnish the Company
with evidence of the incurrence of such expenses within a reasonable period of
time from the date that they were incurred.

 

9.                    Confidential
Information and Arbitration Agreement; Rescission at Company’s Option.
As a condition of Employee’s employment, Applicant will be required to sign and
comply with a Confidential Information, Inventions Assignment, and Arbitration
Agreement (“Arbitration Agreement”), attached as Appendix B, which is expressly

 

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incorporated by reference herein. Employee shall execute the
Arbitration Agreement and agrees to be bound by the document. If the Employee
fails to execute the documents or submit the fully executed document to the
Company by the beginning of the first day of the Employee’s employment with the
Company, such failure may be deemed by the Company as an offer by the Employee
to rescind this Agreement in its entirety, which rescission shall immediately
and automatically be accepted by, and permanently discharge, the Company from
all performance obligations hereunder. The parties agree that pursuant to the
Arbitration Agreement that is Exhibit “B” hereto, all disputes relating to or
arising out of this Agreement, and/or Employee’s employment with and/or
separation from the Company shall be resolved by binding arbitration and both
parties expressly agree to waive any right to have their dispute resolved by a
jury.

 

10.             Termination Without
Cause/Severance.

 

Employee’s employment with the Company is for
no specified period and constitutes at-will employment. Therefore, either party
may terminate the employment relationship, with or without cause, at any time
during the Term hereof for any reason whatsoever by providing 4 months advance
written notice.

 

(a)          If the Company terminates Employee’s
employment without Cause as that terms is defined in Paragraph 9 of this
Agreement Employee shall be entitled to a severance payment in the amount of
one (1) month base salary and benefits in exchange for a fully executed General
Release.

 

11.             Termination for Cause.
The Company hereunder may terminate Employee’s employment at any time during
the term of this Agreement for “Cause”. The term “Cause” is defined as any one
or more of the following occurrences:

 

(a)          Employee’s conviction by, or entry of a plea
of guilty or nolo contender in, a court of competent and final jurisdiction for
any crime which constitutes a felony in the jurisdiction involved, which
conviction or plea materially injures the Company; or

 

(b)         Employee’s commission of an act of fraud or
misappropriation of funds or property, whether prior to or subsequent to the
date hereof, upon the Company; or

 

(c)          Gross negligence by Employee in the scope of
Employee’s employment resulting in a material injury to the Company, violation
by Employee of any duty of loyalty to the Company resulting in a material
injury to the Company, or any other misconduct on the part of Employee
resulting in a material injury to the Company; or

 

(d)         Breach of the Arbitration Agreement; or

 

(e)          Failure to remain legally entitled to work in
the United States; or

 

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(f)            Commission of an intentional unlawful employment
practice, such as sexual harassment

 

If Employee’s employment hereunder shall be terminated by the Company
for Cause pursuant to this Section 9, this Agreement shall terminate as of the
date of notice of termination and Employee shall then not be considered an
employee of the Company for any purpose, and his salary and all other benefits
shall cease upon the termination of his employment; provided, however, that the
Company will comply with Section 200 of the Labor Code with respect to the
payment of the Employee’s salary upon the termination of the Employee’s
employment and shall provide Employee with the required COBRA notification.

 

9.                    Miscellaneous.

 

(a)          Arbitration. All disputes or
controversies whether of law or fact of any nature whatsoever rising from or
respecting this Agreement shall be decided by arbitration pursuant to the
Arbitration Agreement attached as Appendix B.

 

(b)         Notices. All notices and other
communications required or permitted hereunder shall be in writing and shall be
mailed by registered or certified mail, postage prepaid, or otherwise delivered
by hand or by messenger, addressed (a) if to Employee, at 6536 Kaiser Drive
Fremont, CA 94555 U.S.A., or at such other address as Employee shall have
furnished to the Company in writing (including electronic mail address), or (b)
if to the Company, at 6536 Kaiser Drive Fremont, CA 94555 U.S.A., attention Dr.
Daniel Zurr, or to such other address as the Company shall have furnished to
Employee in writing (including electronic mail address). Each such notice or
communication shall for all purposes of this Agreement be treated as effective
or having been given when delivered if delivered personally or sent by
telegram, telefax (receipt confirmed), or, if sent by mail, at the earlier of its
receipt or 72 hours after the same has been deposited in a regularly maintained
receptacle for the deposit of the United States Postal Services.

 

(c)          Severability. In the event that any
provision hereof becomes or is declared by a court of competent jurisdiction to
be illegal, unenforceable or void, this Agreement shall continue in full force
and effect without said provision.

 

(d)         Entire agreement. This Agreement,
including all addenda and attachments hereto represents the entire agreement
and understanding between the Company and Employee concerning Employee’s
relationship with the Company.

 

(e)          No Oral Modification, Cancellation or
Discharge. This Agreement may only be amended, cancelled or discharged in
writing signed by Employee and the Company. Notwithstanding anything in this
Agreement to the contrary, any consent, waiver, 

 

4

 

                      amendment, modification or other
agreement delivered by electronic mail shall be effective.

 

(f)            Governing Law. This Agreement shall
be governed by the laws of the State of California.

 

(g)         Acknowledgment. Employee acknowledges
that he has had the opportunity to discuss this matter with and obtain advice
from his private attorney, has had sufficient time to, and has carefully read
and fully understands all the provisions of this Agreement, and is knowingly
and voluntarily entering into this Agreement.

 

(h)         Survivability. Notwithstanding any
other provision of this Agreement, the obligations, covenants and duties of the
Company and Employee under the Arbitration Agreement and the Employment
Confidential Information Invention Assignment Agreement shall survive any
termination of this Agreement.

 

(i)             Eligibility for employment. For
purposes of federal immigration law, you will be required to provide to the
Company documentary evidence of your identity and eligibility for employment in
the United States. Such documentation must be provided to us within three (3)
business days of your date of hire, or our employment relationship with you may
be terminated.

 

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

 

	
   

  	
   

  
	
  QUARK BIOTECH, INC.

  	
  Gavin Samuels, MD

  
	
   

  	
   

  
	
  By:

  	
  /s/ Daniel Zurr

  	
   

  	
  By: 

  	
  /s/ Gavin Samuels

  	
   

  
	
   

  	
   

  
	
  Name: Daniel Zurr, Ph. D

  	
   

  
	
   

  	
   

  
	
  Title: President & CEO

  	
   

  
	
   

  	
   

  
						

 

5

 

 

Exhibit “B”

 

QUARK CONFIDENTIAL INFORMATION,

INVENTION ASSIGNMENT,

AND ARBITRATION AGREEMENT

 

As a condition of my employment with Quark Biotech, Inc., its
subsidiaries, affiliates, successors or assigns (together the “Company”), and
in consideration of my employment with the Company and my receipt of the
compensation now and hereafter paid to me by Company, I agree to the following:

 

1.  At-Will Employment.
I understand and acknowledge that my employment with the Company is for an
unspecified duration and constitutes “at-will” employment. I also understand
that any representation to the contrary is unauthorized and not valid unless
obtained in writing and signed by the Chief Executive Officer (CEO) of the
Company. I acknowledge that this employment relationship may be terminated at
any time, with or without good cause or for any or no cause, at the option
either of the Company or myself, with or without notice.

 

2.  Confidential Information.

 

(a)  Company Information.
I agree at all times during the term of my employment and thereafter, to hold
in strictest confidence, and not to use, except for the benefit of the Company,
or to disclose to any person, firm or corporation without written authorization
of the Board of Directors of the Company, any Confidential Information of the
Company. I understand that “Confidential Information” means any Company
proprietary information, technical data, trade secrets or know-how, including,
but not limited to, research, product plans, products, services, customer lists
and customers (including, but not limited to, customers of the Company on whom
I called or with whom I became acquainted during the term of my employment),
markets, software, developments, inventions, processes, formulas, technology,
designs, drawings, engineering, hardware configuration information, marketing,
finances or other business information disclosed to me by the Company either
directly or indirectly, in writing, orally or by drawings or observation of
parts or equipment. I further understand that Confidential Information does not
include any of the foregoing items which have become publicly known and made
generally available through no wrongful act of mine or of others who were under
confidentiality obligations as to the item or items involved or improvements or
new versions thereof.

 

653 Kaiser Drive, Fremont, California 94555 Tel: (510) 402-4020 Fax:
(510) 402-4021 www.quarkbiotech.com

 

6

 

(b) Former Employer Information. I
agree that I will not, during my employment with the Company, improperly use or
disclose any proprietary information or trade secrets of any former or
concurrent employer or other person or entity and that I will not bring onto
the premises of the Company any unpublished document or proprietary information
belonging to any such employer, person or entity unless consented to in writing
by such employer, person or entity.

 

(c) Third Party Information. I
recognize that the Company has received and in the future will receive from
third parties their confidential or proprietary information subject to a duty
on the Company’s part to maintain the confidentiality of such information and
to use it only for certain limited purposes. I agree to hold all such
confidential or proprietary information in the strictest confidence and not to
disclose it to any person, firm or corporation or to use it except as necessary
in carrying out my work for the Company consistent with the Company’s agreement
with such third party.

 

3.  Inventions.

 

(a) Inventions Retained and Licensed.
I have attached hereto, as Exhibit C, a list describing all inventions,
original works of authorship, developments, improvements, and trade secrets
which were made by me prior to my employment with the Company (collectively
referred to as “Prior Inventions”), which belong to me, which relate to the
Company’s proposed business, products or research and development, and which
are not assigned to the Company hereunder, or, if no such list is attached, I
represent that there are no such Prior Inventions. If in the course of my
employment with the Company, I incorporate into a Company product, process or
machine a Prior Invention owned by me or in which I have an interest, the
Company is hereby granted and shall have a nonexclusive, royalty-free,
irrevocable, perpetual, worldwide license to make, have made, modify, use and
sell such Prior Invention as part of or in connection with such product,
process or machine.

 

(b) Assignment of Inventions. I
agree that I will promptly make full written disclosure to the Company, will
hold in trust for the sole right and benefit of the Company, and hereby assign
to the Company, or its designee, all my right, title, and interest in and to
any and all inventions, original works of authorship, developments, concepts,
improvements, designs, discoveries, ideas, trademarks or trade secrets, whether
or not patentable or registrable under copyright or similar laws, which I may
solely or jointly conceive or develop or reduce to practice, or cause to be
conceived or developed or reduced to practice, during the period of time I am
in the employ of the Company (collectively referred to as “Inventions”), except
as provided in Section 3(f) below. I further acknowledge that all original
works of authorship which are made by me (solely or jointly with others) within
the scope of and during the period of my employment with the Company and which
are protectible by copyright are “works made for hire,” as that term is defined
in the United States Copyright Act. I understand and agree that the decision
whether or not to commercialize or market any invention developed by me solely
or jointly with others is within the Company’s sole discretion and for the
Company’s sole benefit and that no royalty will be due to me as a result of the
Company’s efforts to commercialize or market any such invention. I also agree
that I will not use, disclose, reproduce, transfer or otherwise exploit any
Company Inventions for any purpose other than

 

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for the benefit of the Company in the fulfillment of my duties during
my employment with the Company.

 

(c) Inventions Assigned to the United States.
I agree to assign to the United States government all my right, title, and
interest in and to any and all Inventions whenever such full title is required
to be in the United States by a contract between the Company and the United
States or any of its agencies.

 

(d) Maintenance of Records. I agree
to keep and maintain adequate and current written records of all Inventions
made by me (solely or jointly with others) during the term of my employment
with the Company. The records will be in the form of notes, sketches, drawings,
and any other format that may be specified by the Company. The records will be
available to and remain the sole property of the Company at all times.

 

(e) Patent and Copyright Registrations.
I agree to assist the Company, or its designee, at the Company’s expense, in
every proper way to secure the Company’s rights in the Inventions and any
copyrights, patents, mask work rights or other intellectual property rights
relating thereto in any and all countries, including the disclosure to the
Company of all pertinent information and data with respect thereto, the
execution of all applications, specifications, oaths, assignments and all other
instruments which the Company shall deem necessary in order to apply for and
obtain such rights and in order to assign and convey to the Company, its
successors, assigns, and nominees the sole and exclusive rights, title and
interest in and to such Inventions, and any copyrights, patents, mask work
rights or other intellectual property rights relating thereto. I further agree
that my obligation to execute or cause to be executed, when it is in my power
to do so, any such instrument or papers shall continue after the termination of
this Agreement. If the Company is unable because of my mental or physical
incapacity or for any other reason to secure my signature to apply for or to
pursue any application for any United States or foreign patents or copyright
registrations covering Inventions or original works of authorship assigned to
the Company as above, then I hereby irrevocably designate and appoint the
Company and its duly authorized officers and agents as my agent and attorney in
fact, to act for and in my behalf and stead to execute and file any such
applications and to do all other lawfully permitted acts to further the
prosecution and issuance of letters patent or copyright registrations thereon
with the same legal force and effect as if executed by me.

 

(f) Exception to Assignments. I
understand that the provisions of this Agreement requiring assignment of
Inventions to the Company do not apply to any invention which qualifies fully
under the provisions of California Labor Code Section 2870 (attached hereto as
Exhibit D). I will advise the Company promptly in writing of any inventions
that I believe meet the criteria in California Labor Code Section 2870 and are
not otherwise disclosed on Exhibit B.

 

4. Conflicting Employment. I
agree that, during the term of my employment with the Company, I will not
engage in any other employment, occupation, consulting or other business
activity that conflicts with my obligations to the Company.

 

8

 

5.  Returning
Company Documents. I agree that, at the time of leaving the
employ of the Company, I will deliver to the Company (and will not keep in my
possession, recreate or deliver to anyone else) any and all devices, records,
data, notes, reports, proposals, lists, correspondence, specifications,
drawings blueprints, sketches, materials, equipment, other documents or
property, or reproductions of any aforementioned items developed by me pursuant
to my employment with the Company or otherwise belonging to the Company, its
successors or assigns, including, without limitation, those records maintained
pursuant to paragraph 3(d). In the event of the termination of my employment, I
agree to sign and deliver the “Termination Certification” attached hereto as
Exhibit E.

 

6.  Notification
of New Employer. In the event that I leave the Company, I hereby
grant consent to notification by the Company to my new employer about my rights
and obligations under this Agreement.

 

7.  Non-Solicitation.
I agree that for a period of twelve (12) months immediately following the
termination of my relationship with the Company for any reason, whether with or
without cause, I shall not either directly or indirectly solicit, induce, recruit
or encourage any of the Company’s employees to leave their employment, or any
customers, clients, or other entities to terminate their relationship with the
Company, or attempt to solicit, induce, recruit, encourage or take away
employees, customers, or clients of the Company, either for myself or for any
other person or entity.

 

8.  Conflict
of Interest Guidelines. I agree to diligently adhere to the
Conflict of Interest Guidelines attached as Exhibit F hereto.

 

9.  Representations.
I agree to execute any proper oath or verify any proper document required to
carry out the terms of this Agreement. I represent that my performance of all
the terms of this Agreement will not breach any agreement to keep in confidence
proprietary information acquired by me in confidence or in trust prior to my
employment by the Company. I have not entered into, and I agree I will not
enter into, any oral or written agreement in conflict herewith.

 

10.  Arbitration
and Equitable Relief.

 

(a)  Arbitration.
In consideration of my employment with Quark Biotech, Inc. (the “Company”), its
promise to arbitrate all employment-related disputes and my receipt of the
compensation, pay raises and other benefits paid to me by the Company, at
present and in the future, I agree that any and all controversies, claims, or
disputes with anyone (including the Company and any employee, officer,
director, shareholder or benefit plan of the Company in their capacity as such
or otherwise) arising out of, relating to, or resulting from my employment with
the Company or the termination of my employment with the Company, including any
breach of this Agreement, shall be subject to binding arbitration under the
arbitration rules set forth in California Code of Civil Procedure Section 1280
through 1294.2, including Section 1283.05 (the “Rules”) and pursuant to
California law. Disputes which I agree to arbitrate, and thereby agree to waive
any right to a trial by jury, include any statutory claims under state or federal
law, including, but not limited to, claims under Title VII of the

 

9

 

Civil Rights Act of 1964, the Americans With Disabilities Act of 1990,
the Age Discrimination in Employment Act of 1967, the Older Workers Benefit
Protection Act, the California Fair Employment and Housing Act, the California
Labor Code, claims of harassment, discrimination or wrongful termination and
any statutory claims. I further understand that this Agreement to arbitrate
also applies to any disputes that the Company may have with me.

 

(b)  Procedure.
I agree that any arbitration will be administered by the American Arbitration
Association (“AAA”) and that a neutral arbitrator will be selected in a manner
consistent with its National Rules for the Resolution of Employment Disputes. I
agree that any arbitration under this section shall be conducted in Alameda
Country, California. The arbitration proceedings will allow for discovery
according to the AAA National Rules for the Resolution of Employment
Disputes, or the Rules. I agree that the arbitrator shall have the
power to decide any motions brought by any party to the arbitration, including
motions for summary judgment and/or adjudication and motions to dismiss and
demurrers, prior to any arbitration hearing. I agree that the arbitrator shall
issue a written decision on the merits. I also agree that the arbitrator shall
have the power to award any remedies, including attorneys’ fees and costs,
available under applicable law. I understand the Company will pay for any
administrative or hearing fees charged by the arbitrator or AAA except that I
shall pay the first $200.00 of any filling fees associated with any arbitration
I initiate. I agree that the arbitrator shall administer and conduct any
arbitration in a manner consistent with the Rules and that to the extent that
the AAA’s National Rules for the Resolution of Employment Disputes conflict
with the Rules, the Rules shall take precedence.

 

(c)  Remedy.
Except as provided by the Rules, arbitration shall be the sole, exclusive and
final remedy for any dispute between me and the Company. Accordingly, except as
provided for by the Rules, neither I nor the Company will be permitted to
pursue court action regarding claims that are subject to arbitration.
Notwithstanding, the arbitrator will not have the authority to disregard or
refuse to enforce any lawful company policy, and the arbitrator shall not order
or require the Company to adopt a policy not otherwise required by law which
the Company has not adopted.

 

(d)  Availability
of injunctive relief. In accordance with Rule 1281.8 of the
California Code of Civil Procedure, I agree that any party may also petition
the court for injunctive relief where either party alleges or claims a
violation of the Employment, Confidential Information, Invention Assignment
Agreement between me and the Company or any other agreement regarding trade
secrets, confidential information, nonsolicitation or Labor Code §2870. In the
event either party seeks injunctive relief, the prevailing party shall be
entitled to recover reasonable costs and attorneys fees.

 

(e)  Administrative
relief. I understand that this Agreement does not prohibit me
from pursuing an administrative claim with a local, state or federal administrative
body such as the Department of Fair Employment and Housing, the Equal
Employment Opportunity Commission or the Workers’ Compensation Board. This
Agreement does, however, preclude me from pursuing court action regarding any
such claim.

 

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(f)  Voluntary
nature of agreement. I acknowledge and agree that I am executing
this Agreement voluntarily and without any duress or undue influence by the Company
or anyone else. I further acknowledge and agree that I have carefully read this
Agreement and that I have asked any questions needed for me to understand the
terms, consequences and binding effect of this Agreement and fully understand
it, including that I AM WAIVING MY RIGHT TO A JURY TRIAL. Finally, I agree that
I have been provided an opportunity to seek the advice of an attorney of my
choice before signing this Agreement.

 

11.  General
Provisions.

 

(a)  Governing
Law; Consent to Personal Jurisdiction. This Agreement will be
governed by the laws of the State of California. I hereby expressly consent to
the personal and exclusive jurisdiction of, and venue in, the state and federal
courts located in California for any lawsuit filed there against me by the
Company arising from or relating to this Agreement.

 

(b)  Entire
Agreement. This Addendum, and the Agreement to which it is an
Addendum, constitutes the entire agreement and understanding between the
Parties concerning the subject matter of this Agreement and all prior
representations, understandings, and agreements concerning the subject matter
of this Agreement have been merged into this Agreement.

 

(c)  Severability.
If one or more of the provisions in this Agreement are deemed void by law, then
the remaining provisions will continue in full force and effect.

 

(d)  Successors
and Assigns. This Agreement will be binding upon my heirs,
executors, administrators and other legal representatives and will be for the
benefit of the Company, its successors, and its assigns.

 

 

	
  Date: 

  	
  02/21/2007

  	
   

  	
   

  
	
   

  
	
   

  	
  /s/ Gavin Samuels

  	
   

  
	
   

  	
  Signature

  
	
   

  	
   

  
	
   

  	
  Gavin Samuels

  	
   

  
	
   

  	
  TYPE NAME

  	
   

  
	
   

  	
   

  
	
  Witness:

  	
  /s/ ILLEGIBLE

  	
   

  	
   

  
							

 

 

11

 

 

Exhibit C

 

List of prior inventions

and original works of authorship

 

	
  Title

  	
   

  	
  Date

  	
   

  	
  Identifying Number or Brief Description

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

x           No inventions or improvements

o            Additional Sheets Attached

 

	
  By:

  	
  /s/ Gavin Samuels

  	
   

  	
   

  
	
  Type Name

  	
   

  
	
   

  	
   

  
	
  Date:

  	
  02/21/2007

  	
   

  	
   

  
						

 

653 Kaiser Drive, Fremont, California 94555 Tel: (510) 402-4020 Fax:
(510) 402-4021 www.quarkbiotech.com

 

 

 

 

Exhibit D

 

CALIFORNIA LABOR CODE SECTION 2870

INVENTION ON OWN TIME – EXEMPTION FROM AGREEMENT

 

(a) Any
provision in an employment agreement which provides that an employee shall
assign, or offer to assign, any of his or her rights in an invention to his or
her employer shall not apply to an invention that the employee developed
entirely on his or her own time without using the employer’s equipment,
supplies, facilities, or trade secret information except for those inventions
that either:

 

(1) Relate at the time of conception or reduction to practice of the
invention to the employer’s business, or actual or demonstrably anticipated
research or development of the employer; or

 

(2) Result from any work performed by the employee for the employer.

 

(b) To the
extent a provision in an employment agreement purports to require an employee
to assign an invention otherwise excluded from being required to be assigned
under subdivision (a), the provision is against the public policy of this state
and is unenforceable.”

 

653 Kaiser Drive, Fremont, California 94555 Tel: (510) 402-4020 Fax:
(510) 402-4021 www.quarkbiotech.com

 

 

 

 

 

Exhibit E

 

TERMINATION CERTIFICATION

 

This is to certify that I do not have in my possession, nor have I
failed to return, any devices, records, data, notes, reports, proposals, lists,
correspondence, specifications, drawings, blueprints, sketches, materials,
equipment, other documents or property, or reproductions of any aforementioned
items belonging to Quark Biotech, Inc., its subsidiaries, affiliates,
successors or assigns (together, the “Company”).

 

I further certify that I have complied with all the terms of the
Company’s Employment, Confidential Information, Invention Assignment and
Arbitration Agreement signed by me, including the reporting of any inventions
and original works of authorship (as defined therein), conceived or made by me
(solely or jointly with others) covered by that agreement.

 

I further agree that, in compliance with the Employment, Confidential
Information, Invention Assignment, and Arbitration Agreement, I will preserve
as confidential all trade secrets, confidential knowledge, data or other
proprietary information relating to products, processes, know-how, designs,
formulas, developmental or experimental work, computer programs, data bases,
other original works of authorship, customer lists, business plans, financial
information or other subject matter pertaining to any business of the Company
or any of its employees, clients, consultants or licensees.

 

I further agree that for twelve (12) months from this date, I will not
hire any employees of the Company and I will not solicit, induce, recruit or
encourage any of the Company’s employees to leave their employment.

 

 

	
  Date:

  	
   

  	
   

  
	
   

  
	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  TYPE NAME

  	
   

  
	
   

  
						

 

653 Kaiser Drive, Fremont, California 94555 Tel: (510) 402-4020 Fax:
(510) 402-4021 www.quarkbiotech.com

 

 

 

 

Exhibit F

 

CONFLICT OF INTEREST GUIDELINES

 

It is the policy of Quark to conduct its affairs in strict compliance
with the letter and spirit of the law and to adhere to the highest principles
of business ethics. Accordingly, all officers, employees and independent
contractors must avoid activities which are in conflict, or give the appearance
of being in conflict, with these principles and with the interests of the
Company. The following are potentially compromising situations which must be
avoided. Any exceptions must be reported to the President and written approval
for continuation must be obtained.

 

1.             Revealing
confidential information to outsiders or misusing confidential information.
Unauthorized divulging of information is a violation of this policy whether or
not for personal gain and whether or not harm to the Company is intended. (The
Employment, Confidential Information, Invention Assignment and Arbitration
Agreement elaborates on this principle and is a binding agreement.)

 

2.             Accepting or
offering substantial gifts, excessive entertainment, favors or payments which
may be deemed to constitute undue influence or otherwise be improper or
embarrassing to the Company.

 

3.             Participating in
civic or professional organizations that might involve divulging confidential
information of the Company.

 

4.             Initiating or
approving personnel actions affecting reward or punishment of employees or applicants
where there is a family relationship or is or appears to be a personal or
social involvement.

 

5.             Initiating or
approving any form of personal or social harassment of employees.

 

6.             Investing or
holding outside directorship in suppliers, customers, or competing companies,
including financial speculations, where such investment or directorship might
influence in any manner a decision or course of action of the Company.

 

7.             Borrowing from or
lending to employees, customers or suppliers.

 

8.             Acquiring real
estate of interest to the Company.

 

9.             Improperly using or
disclosing to the Company any proprietary information or trade secrets of any
former or concurrent employer or other person or entity with whom obligations
of confidentiality exist.

 

 

653 Kaiser Drive, Fremont, California 94555 Tel: (510) 402-4020 Fax:
(510) 402-4021 www.quarkbiotech.com

 

 

 

10.           Unlawfully
discussing prices, costs, customers, sales or markets with competing companies
or their employees.

 

11.           Making any unlawful
agreement with distributors with respect to prices.

 

12.           Improperly using or
authorizing the use of any inventions which are the subject of patent claims of
any other person or entity.

 

13.           Engaging in any
conduct which is not in the best interest of the Company. Each officer,
employee and independent contractor must take every necessary action to ensure
compliance with these guidelines and to bring problem areas to the attention of
higher management for review. Violations of this conflict of interest policy
may result in discharge without warning.

 

 

653 Kaiser Drive, Fremont, California 94555 Tel: (510) 402-4020 Fax:
(510) 402-4021 www.quarkbiotech.comExhibit 10.34

 

Quark Biotech, Inc.

6501 Dumbarton Circle

Fremont, CA   64555

 

March 29, 2007

 

Gavin Samuels

Quark Biotech, Inc.

6501 Dumbarton Circle

Fremont, CA 94555

 

Re:          Amendment To At Will
Employment Agreement

 

Dear Gavin:

 

This letter agreement will amend your At Will Employment Agreement with
Quark Biotech, Inc. dated as of March 1, 2007 (the “Employment Agreement”).

 

The fourth sentence of Paragraph 7 of the Employment Agreement (“Stock
Options”) is hereby deleted and replaced by the following:

 

“In the event of the consummation of the initial public offering (“IPO”)
of Quark prior to the vesting of forty percent (40%) of the total number of
shares that shall derive on the exercise of the option, the vesting provisions
shall be accelerated so that upon the date six months following the
consummation of the IPO forty percent (40%) of the total number of shares that
derive from the exercise of the option shall be vested. The balance of the
shares that derive from the exercise of the option shall then vest on a monthly
basis until the end of the vesting period (1/48th of the option
shall vest each month thereafter subject to Employee’s continued employment)”

 

As amended, the Employment Agreement (including without limitation the
three sentences of Paragraph 7 that follow the language set forth above) shall
remain in full force and effect. I understand that you also hereby consent to
our substitution of a revised page in the copy of your Employment Agreement
which is being filed with the SEC to reflect the amendment set forth herein.

 

Please indicate your agreement by countersigning this letter where
indicated below.

 

Sincerely,

 

	
  /s/ Dani Zurr

  	
   

  
	
  Dani Zurr

  
	
  Chief Executive Officer

  
	
   

  
	
  So agreed.

  
	
   

  
	
   

  
	
  /s/ Gavin Samuels

  	
   

  
	
  Gavin Samuels

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