Document:

Exhibit 10.2

 

 

 

 

 

 

August 2, 2022

 

Via E-Mail

Jacques Tortoroli

[***]

 

Re: Amendment to Offer of Employment with Charlotte’s
Web Holdings, Inc.

 

Dear Jacques,

 

This letter serves as an amendment (“Amendment”)
to your offer of employment from Charlotte’s Web Holdings, Inc. (the “Company”), dated December 16, 2021 (the
“Offer Letter”). Provided that you timely sign and return a copy of this Amendment to me, this Amendment shall be effective
as of August 2, 2022 (the “Effective Date”). Except as expressly set forth in this Amendment, all other terms and conditions
of your Offer Letter remain in full force and effect, as if expressly stated herein.

 

		1.	Base Salary. Section 4 of your Offer Letter shall be amended such that your Base Salary shall be:
(a) commencing on the Effective Date and ending on December 31, 2023, Three Hundred Fifty Thousand Dollars ($350,0000) per year; and (b)
commencing on January 1, 2024, Four Hundred Twenty-Five Thousand Dollars ($425,0000) per year. For the avoidance of doubt, your Base Salary
shall be pro-rated for any partial years worked and continue to be payable in accordance with the Company’s standard payroll practices
and procedures, less applicable withholdings and deductions.

 

		2.	Restricted Stock Award. Subject to the approval of the Company’s Board of Directors, the
Company will award you a one-time equity grant (the “Restricted Stock Award”) consisting of Eight Hundred Fifty Thousand
(850,000) restricted stock units (“RSUs”). The Restricted Stock Award shall be issued under and subject in all respects
to the terms and conditions of the Company’s 2018 Long-Term Incentive Plan (the “Plan”) and restricted stock
award agreement (“Award Agreement”), which you will be required to execute as a condition of your receipt of the Restricted
Stock Award. The Restricted Stock Award shall vest as follows: (a) 50% of the RSUs shall vest on December 31, 2022; and (b) 50% of RSUs
shall vest on December 31, 2023. Such vesting shall be subject to your continuous service on each applicable vesting date, as described
in the Plan and Award Agreement.

 

Nothing contained herein is intended to or shall in
any way alter the nature of your employment status as an at-will employee. Please confirm your understanding and acceptance of this Amendment
by signing and returning one copy of this Amendment to me by August 2, 2022.

 

We look forward to a mutual collaboration and to your
continued contribution in developing the Company’s business. Please feel free to contact me if you have any questions.

 

Sincerely,

/s/ Stephen Rogers

Stephen Rogers

Senior Vice President, General Counsel/Corporate Counsel

On behalf of Charlotte’s Web Holdings, Inc.

 

 

[***] Indicates material that has been excluded from this Exhibit 10.2
because it is not material.

    	 

    	 

    

 

Accepted and Agreed:

 

 

 

 

/s/ Jacques Tortoroli               

Jacques Tortoroli                                                                                                 DateAugust 2, 2022pirs063022_exx102

Execution copy  EXHIBIT 10.2  AMENDMENT NO. 3  This Amendment No. 3 (the “Amendment”) to the License and Collaboration Agreement dated May 2,  2017, as previously amended by Addendum No. 1 dated September 14, 2020 and Amendment No. 2 dated  29 March 2021 (the “Agreement”), is made by and between:  (1) ASTRAZENECA AB, a company incorporated in Sweden under no. 556011-7482 with its  registered office at SE-151 85 Södertälje, Sweden and principal offices at SE-431 83 Mölndal,  Sweden (“AstraZeneca”); and  (2) PIERIS PHARMACEUTICAL, INC. (“Pieris US”), a corporation existing under the laws of the  State of Nevada having a principal place of business at 255 State Street, 9th Floor, Boston, MA  02109, PIERIS PHARMACEUTICALS GMBH (“Pieris Germany”), a company existing under the  laws of Germany having a principal place of business at Zeppelinstrasse 3, Hallbergmoos  85399, Germany, PIERIS AUSTRALIA PTY. LTD. (“Pieris Australia”), a company existing under  the laws of Australia with its registered address at Level 16, 77 Castlereagh St, Sydney NSW  2000, Australia (Pieris US, Pieris Germany, and Pieris Australia are collectively referred to as  “Pieris”),   and is made effective as of 9 June, 2022 (the “Amendment Effective Date”).  Recitals   WHEREAS, in accordance with the Agreement, AstraZeneca and Pieris are conducting Research in the  Research Collaboration; and  WHEREAS, AstraZeneca provided Pieris with a Notice for Extension of the Collaboration Term extending  the Initial Collaboration Term for the four (4), at the time ongoing, projects until June 9th 2022 and the  Parties now wish to further extend the Collaboration Term; and  WHEREAS, for this purpose the Parties desire to amend and restate certain terms and conditions of the  Agreement.   Agreement  NOW, THEREFORE, in consideration of the mutual covenants contained in this Amendment, and other  good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the  Parties, intending to be legally bound, agree as follows:  1. Definitions  Any capitalized term not separately defined in this Amendment shall have the meaning ascribed to it  in the Agreement.   2. Amendment Collaboration Term   The Parties hereby extend the Collaboration Term until June 30th, 2022.  

 

Execution copy  2  3. Amendment Effective Date  This Amendment shall become effective on the Amendment Effective Date.  4. Entire Agreement  This Amendment, together with the Agreement, constitutes the entire agreement between the Parties  with respect to the subject matter of the Agreement.  The Agreement together with this Amendment  supersedes all prior agreements, whether written or oral, with respect to the subject matter of the  Agreement, as amended.  Each Party confirms that it is not relying on any representations, warranties, or  covenants of the Party except as specifically set out in the Agreement as amended.  Nothing in this  Amendment is intended to limit or exclude any liability or fraud.  The Parties hereby agree that subject to  the modifications specifically stated in this Amendment, all other terms and conditions of the Agreement  shall remain in full force and effect.    [Remainder of page intentionally blank.  Signatures follow.]     

 

Execution copy  3  Execution  THIS AMENDMENT IS EXECUTED by the authorized representatives of the Parties as of the  Amendment Effective Date.    ASTRAZENECA AB (publ.) PIERIS PHARMACEUTICAL, INC.    Signature: __/s/_Maria Belvis_________ Signature: /s/ Stephen Yoder____    Name: _ Maria Belvisi ______ Name: Stephen Yoder     Title: SVP and Head of Research,   Early Respiratory & Immunology Title: _CEO______________       PIERIS PHARMACEUTICALS GmbH.      Signature: /s/ Stephen Yoder____      Name: Stephen Yoder       Title: _Managing Director_____     PIERIS AUSTRALIA PTY LTD.      Signature: /s/ Stephen Yoder____      Name: Stephen Yoder       Title: _Director______________pirs063022_exx103

Execution copy  EXHIBIT 10.3  AMENDMENT NO. 4  This Amendment No. 4 (the “Amendment”) to the License and Collaboration Agreement dated May 2,  2017, as amended, (the “Agreement”), is made by and between:  (1) ASTRAZENECA AB, a company incorporated in Sweden under no. 556011-7482 with its  registered office at SE-151 85 Södertälje, Sweden and principal offices at SE-431 83 Mölndal,  Sweden (“AstraZeneca”); and  (2) PIERIS PHARMACEUTICAL, INC. (“Pieris US”), a corporation existing under the laws of the  State of Nevada having a principal place of business at 255 State Street, 9th Floor, Boston, MA  02109, PIERIS PHARMACEUTICALS GMBH (“Pieris Germany”), a company existing under the  laws of Germany having a principal place of business at Lise-Meitner-Strasse 30, 85354  Freising, Germany, PIERIS AUSTRALIA PTY. LTD. (“Pieris Australia”), a company existing under  the laws of Australia with its registered address at Level 8, 123 Pitt Street, Sydney NSW 2000,  Australia (Pieris US, Pieris Germany, and Pieris Australia are collectively referred to as  “Pieris”),   and is made effective as of 30 June, 2022 (the “Amendment Effective Date”).  Recitals   WHEREAS, the Parties now wish to extend the Collaboration Term; and  WHEREAS, for this purpose the Parties desire to amend and restate certain terms and conditions of the  Agreement.   Agreement  NOW, THEREFORE, in consideration of the mutual covenants contained in this Amendment, and other  good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the  Parties, intending to be legally bound, agree as follows:  1. Definitions  Any capitalized term not separately defined in this Amendment shall have the meaning ascribed to it  in the Agreement.   2. Amendment Collaboration Term   The Parties hereby extend the Collaboration Term until July 31st, 2022.  3. Amendment Effective Date  This Amendment shall become effective on the Amendment Effective Date.  4. Entire Agreement  

 

Execution copy  2  This Amendment, together with the Agreement, constitutes the entire agreement between the Parties  with respect to the subject matter of the Agreement. The Agreement together with this Amendment  supersedes all prior agreements, whether written or oral, with respect to the subject matter of the  Agreement, as amended.  Each Party confirms that it is not relying on any representations, warranties, or  covenants of the Party except as specifically set out in the Agreement as amended. Nothing in this  Amendment is intended to limit or exclude any liability or fraud.  The Parties hereby agree that subject to  the modifications specifically stated in this Amendment, all other terms and conditions of the Agreement  shall remain in full force and effect.    [Remainder of page intentionally blank.  Signatures follow.]     

 

Execution copy  3  Execution  THIS AMENDMENT IS EXECUTED by the authorized representatives of the Parties as of the  Amendment Effective Date.    ASTRAZENECA AB (publ.) PIERIS PHARMACEUTICAL, INC.    Signature: _/s/ Ulrika Lilja________ Signature: __/s/ Stephen Yoder______    Name: ____ Ulrika Lilja_______ Name: Stephen Yoder___    Title: Authorized Signatory____ Title: __ CEO____________       PIERIS PHARMACEUTICALS GmbH.      Signature: __/s/ Stephen Yoder      Name: Stephen Yoder      Title: __ Managing Director_________     PIERIS AUSTRALIA PTY LTD.      Signature: __/s/ Stephen Yoder      Name: Stephen Yoder      Title: _Director_________

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