Document:

EXHIBIT 10.2

 

Jones Lang LaSalle Incorporated

GEB 2015-2020 Long-Term Incentive Compensation Program

 

I. Objectives

 

Jones Lang LaSalle Incorporated (the “Company”) has adopted this GEB 2015-2020 Long-Term Incentive Compensation Program (the “Plan”) for the six-year period from January 1, 2015 through December 31, 2020 in order to:

 

(a)                   Provide an incentive for certain Company executives and key contributors (the “Participants”), as determined by the Compensation Committee (the “Committee”) of the Company’s Board of Directors (the “Board”), to plan, develop and execute the long-term strategic goals of the Company,

 

(b)                   Align the interests of the Participants with the interests of Company shareholders, including a mechanism for delivering direct equity ownership in the Company to the Participants, and

 

(c)                   Attract and retain executive talent in a highly competitive labor market.

 

II. General Plan Provisions

 

	
Stock Award and  Incentive Plan:
    	
 
    	
This Plan is intended to be a Variable Compensation   Plan under the Company’s Stock Award and Incentive Plan, which has been   approved by the Company’s shareholders, as amended from time to time (the   “SAIP”).
    
	
 
    	
 
    	
 
    
	
Defined Terms:
    	
 
    	
Capitalized terms have the respective meanings given   to them in the Plan. Any term not specifically defined in the Plan will have   the meaning given to it in the SAIP.
    
	
 
    	
 
    	
 
    
	
Eligibility:
    	
 
    	
Members of the Company’s Global Executive Board (the   “GEB”) and such other executives and key contributors as the Committee may   designate from time to time will be Participants. No individual will have an   automatic right to participate in the Plan.
    
	
 
    	
 
    	
 
    
	
Selection Procedures:
    	
 
    	
Prior to March 30 of each year, the Company’s   Chief Executive Officer (the “CEO”) will recommend employees to the Committee   for participation in the Plan and their respective specific levels of   proposed participation. As and to   the extent determined by the Committee as part of the annual compensation   planning process for Participants, the Chief Executive Officer of LaSalle   Investment Management (“LaSalle”) will participate in the Plan as well as the   LaSalle Long-Term Incentive Plan, as amended from time to time.
    
	
 
    	
 
    	
 
    
	
Performance Measurement:
    	
 
    	
For purposes of the Plan, performance will be based   on the following three Performance Measures as of the end of each calendar   year (each, a “Performance Period”):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
1. Earnings   before Interest, Tax, Depreciation and Amortization (“EBITDA”).

EBITDA will be   derived from the Company’s consolidated financial statements prepared   pursuant to generally accepted accounting principles as in effect from time   to time and reported in the Company’s annual report on Form 10-K, but   subject to exclusion of certain items as set forth below.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
2. Relative   Total Shareholder Return (“TSR”). The Company’s TSR will be ranked versus   the companies in the Russell 3000 Index.    The Company’s TSR will be calculated in the first quarter of the year   following each Performance Period by dividing (A) the sum of   (i) the total dividends paid per share to shareholders during the   Performance Period plus (ii) the difference between the Final Share   Price and the Beginning Share Price, by (B) the Beginning Share Price.   For this purpose, (x) “Beginning Share Price” for any Performance Period   means the average closing price of the Company’s common stock for the final   20 trading days of the prior calendar year and (y) “Final Share Price”   for any Performance Period means the average closing price of the Company’s   common stock for the final 20 trading days of such Performance Period.
    

 

1

 

	
Performance Measurement: (Continued)
    	
 
    	
3. 2020   Long-Term Objectives: The Company has established its 2020 Strategy   (“2020”) to define its long term priorities and seek to achieve certain   profit and growth goals designed to retain its position as one of the world’s   leading real estate services and investment management companies. Company-   wide and individual objectives designed to accomplish the overall 2020   objectives are reviewed and approved by the Committee and memorialized in the   minutes of the Committee’s meetings, which are maintained in the Company’s   corporate records, and reflected in the Company’s performance management   system. Company-wide and individual 2020 categories may include, but are not   limited to, Growth and Profitability, Platform, Leadership, and   Productivity.  Each year, in its   discretion, based on information and recommendations from the CEO, the   Committee determines the extent to which Company-wide and individual   objectives have been accomplished, which determination is final.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
For purposes of the   Plan, the calculation of all relevant financial results will conform to the   then current Company accounting and financial standards as reflected in its   financial statements, which are prepared pursuant to generally accepted   accounting principles as in effect from time to time.

 

The Committee reserves   the right in its discretion to exclude any income or to include any expense   items of a nonrecurring, unusual, or non-operational nature (which shall   otherwise be excluded). Examples include (1) the consequences of a   significant acquisition, (2) certain impairment charges, and   (3) incentive fees and equity earnings.

 

For purposes of the   Plan, to the extent it does not result in amounts payable under the Plan from   being considered performance-based awards under the SAIP, published financial   results may be adjusted by the Committee in its discretion to reflect the   results as they would have been without the effect of any significant   accounting changes implemented following the adoption of the Plan.

 

Performance scores for 2020   objectives will be calculated annually based on progress on 2020   objectives.  The evaluation   periods for EBITDA and Relative TSR will be cumulative based on Table 1   below:
    
	
 
    	
 
    	
 
    
	
Performance Periods:
    	
 
    	
Table 1: Cumulative Evaluation Periods
    
	
 
    	
 
    	
 
    
	
 
	
Evaluation Year
    	
 
    	
Evaluation Period
    	
 

	
 
	
2015 *
    	
 
    	
2015
    	
 

	
 
	
2016
    	
 
    	
2015,   2016
    	
 

	
 
	
2017
    	
 
    	
2015,   2016, 2017
    	
 

	
 
	
2018 *
    	
 
    	
2018
    	
 

	
 
	
2019
    	
 
    	
2018,   2019
    	
 

	
 
	
2020
    	
 
    	
2018,   2019, 2020
    	
 

	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	    

    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
*EBITDA Three Year Company Performance Targets set by March 30th
    

 

2

 

	
III.   Determining Awards Under the Plan
    
	
 
    	
 
    	
 
    
	
Annual Funding Target and Maximum:
    	
 
    	
The funding target for   the Plan will be determined by the Committee by March 30th of each year and will be based on a % of   EBITDA (the “GEB LTIP Pool”). The annual funding maximum will be 150% of   target.
    
	
 
    	
 
    	
 
    
	
Relative Importance of Performance   Measures:
    	
 
    	
To differentiate   performance achieved and the value of awards at the end of each  Performance Period, each Performance   Measure has been assigned a relative importance weighting as shown in Table 2   below (each a “ Funding Target”):
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Table   2: Relative Weighting of Performance Measures to Annual Funding Target
    
	
 
    	
 
    	
 
    
	
 
	
 
    	
 

	
 
	
Relative Importance To Overall   Award Value
    	
 

	
 
	
2020 Long-Term
   Objectives
    	
 
    	
EBITDA
    	
 
    	
Relative Total
   Shareholder
   Return
    	
 
    	
Total
    	
 
    	
 

	
 
	
50
    	
%
    	
40
    	
%
    	
10
    	
%
    	
100
    	
%
    	
 

	
 
    	
 
    	
 
    
	
Establish   Performance Sharing Rates to Apply to GEB LTIP Pool:
    	
 
    	
For purposes of   determining the value of an award under the Plan (an “Award”), each   Participant will share in a specified percentage of the GEB LTIP Pool as   established for each Performance Period. The aggregate percentage interests   of all Participants shall not exceed 100%.
    
	
 
    	
 
    	
 
    
	
Percentage   Interest Allocation Methodology:
    	
 
    	
The percentage interest   of each Participant will reflect the maximum amount that the Participant may   receive from the GEB LTIP Pool for a Performance Period.

 

To the extent it does   not result in amounts payable under the Plan from being considered   performance-based awards under the SAIP, the percentage allocated to any   Participant for a given Performance Period may be modified before   March 30th  of such Performance Period, as recommended   by the CEO and approved by the Committee.
    
	
 
    	
 
    	
 
    
	
CEO   Sharing Rate and Limit:
    	
 
    	
Once the initial   percentage interest allocations are approved for Participants other than the   CEO for a Performance Period, the CEO will be assigned a percentage interest   by the Committee for such Performance Period.
    
	
 
    	
 
    	
 
    
	
Application   of

Unallocated   Interests:
    	
 
    	
If less than 100% of   the GEB LTIP Pool has been allocated by March 30th of a Performance Period, any unallocated   interest that may remain at the end of the year may be used to   (i) reward then current employees who were not initially selected as   Participants and who are not members of the GEB or (ii) to provide a   retention incentive to new employees, in either of the foregoing cases upon   the recommendation of the CEO and approval by the Committee.
    

 

3

 

	
Use   of Forfeited

Interests:
    	
 
    	
Percentage interests   that were initially assigned to a Participant at the beginning of a   Performance Period and are forfeited upon the Participant’s termination of   employment during that Performance Period may not be reallocated to other   Participants for such Performance Period.
    
	
 
    	
 
    	
 
    
	
Award   Determination Procedures:
    	
 
    	
At the end of each   Performance Period, the Committee shall review performance achieved on each   Performance Measure that was established at the beginning of the Performance   Period. A Participant’s award is determined from his or her share of the   available GEB LTIP Pool and the relative achievement and weighting of each   Performance Measure.
    
	
 
    	
 
    	
 
    
	
Payout   Curve — Threshold & Maximums:
    	
 
    	
Payout for each   Performance Measure will be determined by the payout curve as shown in Table   3 below.  Achievement between anchors   will be interpolated.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Table 3: Payout Curve for each   Performance Measure
    
	
 
    	
 
    	
 
    
	
 
	
2020
   Workstream
   Score
    	
 
    	
Award as
   a % of
   Target
    	
 
    	
EBITDA as a
   % of Target
    	
 
    	
Award as a
   % of
   Target
    	
 
    	
Relative TSR
   Performance
   Percentile
   Ranking
    	
 
    	
Award as
   a
   % of
   Target
    	
 
    
	
 
	
100
    	
 
    	
150
    	
%
    	
120
    	
%
    	
150
    	
%
    	
90th P
    	
 
    	
150
    	
%
    
	
 
	
75
    	
 
    	
100
    	
%
    	
100
    	
%
    	
100
    	
%
    	
60th P
    	
 
    	
100
    	
%
    
	
 
	
50
    	
 
    	
50
    	
%
    	
80
    	
%
    	
50
    	
%
    	
30th P
    	
 
    	
50
    	
%
    
	
 
    	
 
    	
 
    
	
Determining   the Form of Awards:
    	
 
    	
To the extent earned,   Awards under the Plan to members of the GEB other than the LaSalle Chief   Executive Officer are anticipated to be made in restricted stock units (“RSU   Awards”) for each Performance Period. In the case of the LaSalle Chief   Executive Officer, Awards under the Plan are anticipated to be made based on   a notional investment in LaSalle’s assets under management on the terms and   conditions to be determined by the Committee.
    
	
 
    	
 
    	
 
    
	
RSU   Awards

Made   at

Fair Market   Value
    	
 
    	
The “Award Date” for   the RSU Awards will be the date the Committee finally determines the   achievement of each Performance Measure for the relevant Performance Period.   The closing price of the Company’s common stock on the Award Date will be used   to determine the number of restricted stock units that each Participant will   receive.
    
	
 
    	
 
    	
 
    
	
Dividend

Equivalents:
    	
 
    	
The Board may, in its   discretion, grant dividend equivalents to Participants who are granted RSU   Awards under the Plan.
    
	
 
    	
 
    	
 
    
	
IV. Award Terms
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Vesting and Dates:
    	
 
    	
The vesting date (each   a “Vesting Date”) for RSU Awards shall be determined as follows:  Subject to special consideration given for   different termination events described below, one third (1/3) of any RSU   Award will vest on the anniversary of the Award Date, one third (1/3) of any   RSU Award will vest on the 2nd anniversary of the Award Date, and one third   (1/3) of any RSU Award will vest on the 3rd anniversary of the Award Date. It   is the Company’s intent to settle the vested restricted stock units in shares   of Company common stock.  Once an RSU   Award has vested, while remaining employed the Participant shall retain the   shares of Company common stock for at least 12 months after the Vesting Date.
    
	
 
    	
 
    	
 
    
	
Employment   Required on Vesting Dates:
    	
 
    	
Subject to special consideration   given for different termination events described below, a Participant   must be currently employed by the Company (or one of its subsidiaries) on a   Vesting Date to vest in an RSU Award that vests on such Vesting Date unless   the Participant has qualified for Retirement.
    

 

4

 

	
Forfeiture upon Termination:
    	
 
    	
Except as set forth   below, Participants forfeit unvested RSU Awards if they voluntarily terminate   employment with the Company or are terminated involuntarily by the Company   for Cause. For purposes of the Plan, “Cause” means any of (1) failure to   perform the Participant’s job responsibilities in good faith,   (2) documented poor performance, (3) falsification of Company   records, theft, failure to cooperate with an investigation, conviction of any   crime against the Company, any of the Company’s subsidiaries or any of their   employees, or (4) a documented violation of the Company’s Code of   Business Ethics.
    
	
 
    	
 
    	
 
    
	
Change   in Control:
    	
 
    	
Treatment of RSU Awards in connection with a Change in Control shall be   based on the relevant provisions set forth in the SAIP.
    
	
 
    	
 
    	
 
    
	
Termination After Retirement:
    	
 
    	
All unvested RSU Awards   continue to vest according to their original terms.
    
	
 
    	
 
    	
 
    
	
Termination due to   Death/Disability:
    	
 
    	
All unvested RSU Awards   become 100% vested when a Participant’s    employment is terminated as a result of death or total disability,   with settlement of the RSU Awards to be made reasonably promptly thereafter.   In the case of a Participant’s death, the relevant shares shall be issued to   his or her estate in accordance with applicable laws.
    
	
 
    	
 
    	
 
    
	
Other Termination Events:
    	
 
    	
Upon other termination events,   including voluntary termination and termination for cause, all   unvested RSU Awards shall be treated according to the terms of the SAIP or   the applicable award agreement separately provided to the Participant.
    
	
 
    	
 
    	
 
    
	
Transfer to a Different Position   within the Company:
    	
 
    	
All unvested RSU Awards   continue to vest according to the provisions for RSU Awards described in the   Plan.
    
	
 
    	
 
    	
 
    
	
Recoupment of Awards Made Under the   Plan:
    	
 
    	
To the extent legally   required, or if the Committee determines that any fraud or intentional   misconduct by one or more Participants caused the Company, directly or   indirectly, to restate its financial statements, the Committee may require   reimbursement of any compensation paid or awarded to Participants under the   Plan, as well as cancel unvested RSU Awards previously granted to such   Participants in the amount by which the Participants’ respective compensation   exceeded any lower payment that would have been made based on the restated   financial results. The recoupment period would encompass any compensation   paid under the Plan within 36 months prior to the financial restatement.
    

 

5

 

	
V.   Governance
    	
 
    	
As the Plan is a   Variable Compensation Plan under the SAIP, Awards under the Plan will, to the   greatest extent reasonably possible, be administered as performance-based   awards under the SAIP. The Plan shall be interpreted by the Committee and   such interpretations shall be final.
    
	
 
    	
 
    	
 
    
	
Administration   and Interpretation:
    	
 
    	
The Plan will be   administered by or under the discretion of the Committee. Subject to the   provisions of the SAIP, the Committee in its discretion shall have the   authority to approve eligibility to participate in the Plan and to establish   the terms and conditions under which the awards become payable. In addition,   the Committee shall have the authority to delegate such of its duties and   authority under the Plan, including calculation of performance results, but   only to the extent such delegation will not result in Awards becoming   non-deductible pursuant to Section 162(m) of the Code.
    
	
 
    	
 
    	
 
    
	
Term   of Plan:
    	
 
    	
The Plan will be   effective for the six Performance Periods starting each January 1, from   January 1, 2015 through December 31, 2020.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
This Plan is intended   to begin after the end of the previous GEB long term incentive plan.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
It is anticipated (but   not guaranteed) that a subsequent long-term incentive plan would be developed   following the expiration of this Plan on December 31, 2020, and such a   plan would reflect market competitive compensation practices and business   forecasts at that time.
    
	
 
    	
 
    	
 
    
	
Amendments:
    	
 
    	
The Committee reserves   the right to amend the Plan at any time during its term. In addition, the   Committee may, at any time and from time to time, suspend or terminate the   Plan in whole or part. Notwithstanding the foregoing, no amendment shall   affect adversely any of the rights of any Participant under any Award already   then previously granted under the Plan without the consent of the affected   Participant.
    
	
 
    	
 
    	
 
    
	
Compliance:
    	
 
    	
The Plan is intended to   comply with all applicable laws, including Code Sections 162(m) and 409A   and related Treasury guidance and Regulations, and shall be operated and   interpreted in accordance with this intention.
    

 

6Exhibit 10.13

 

EXECUTIVE CHAIRMAN AGREEMENT

 

THIS EXECUTIVE CHAIRMAN AGREEMENT, dated as
of July 16, 2015 (the “Execution Date”), is by and between vTv Therapeutics Inc., a Delaware corporation (the
“Company”), and Jeff Kindler (the “Executive Chairman”).

 

WHEREAS, the Executive Chairman currently
serves as the Executive Chairman of the Company, and the Company desires to continue its engagement of the Executive Chairman in
such position and as a member of the Board of Directors of the Company (the “Board”), on the terms and subject
to the conditions set forth in this Agreement, and the Executive Chairman desires to serve the Company in such positions; and

 

NOW, THEREFORE, the Company and the Executive
Chairman hereby agree as follows:

 

	 	1.	Term; Duties; Efforts.

 

1.1             
Term. Effective no later than the consummation by the Company of its initial public offering of its Class A common
stock (the “IPO”), the Executive Chairman shall be appointed to serve as a member of the Board and shall hold
the title of Executive Chairman of the Board. The period from the date of such appointment until a termination pursuant to Section
2 of this Agreement shall be referred to in this Agreement as the “Term”. If, within six (6) months after the
date of this Agreement, the IPO does not occur, then this Agreement shall be null and void and of no further force and effect.

 

1.2             
Duties. During the Term, the Executive Chairman shall hold the title of Executive Chairman of the Board and be available
to perform the duties customarily associated with this function, including (i) acting as chairman of the Board’s meetings
and of meetings of the stockholders of the Company; (ii) providing leadership to the Board for the development, implementation
and monitoring of near- and long-term strategic plans for the Company; (iii) facilitating discussions of the Board regarding corporate
strategy and critical issues facing the Company; (iv) acting as a liaison between the Company’s senior management and the
Board and its committees; (v) advising the Company’s senior management on matters of Company operations; (vi) consulting
periodically with the Chief Executive Officer of the Company to obtain such information concerning the Company’s business,
operations and strategic plans as may be necessary for the Board to discharge its duties; and (vii) otherwise performing the duties
of Chairman of the Board, as well as such other customary duties as may be determined and assigned by the Board and as may be required
by the Company’s governing instruments, including its certificate of incorporation, bylaws and its corporate governance charters,
each as amended or modified from time to time, and by applicable law, rule or regulation, including, without limitation, the Delaware
General Corporation Law (the “DGCL”) and the rules and regulations of the U.S. Securities and Exchange Commission
(the “SEC”) and any exchange or quotation system on which the Company’s securities may be traded from
time to time. The Executive Chairman will perform such duties described herein in accordance with the general fiduciary duty of
executive officers and directors arising under the DGCL. The Executive Chairman agrees to provide all information regarding himself
as the Company requires to satisfy its disclosure obligations under applicable securities laws. The Executive Chairman shall devote
such time as is reasonably necessary to perform his duties to the Company under this Agreement. The Executive Chairman may perform
his duties hereunder from the Executive Chairman’s offices, at home or elsewhere, including at the Company’s offices
in North Carolina, and shall travel as reasonably necessary in order to perform the Executive Chairman’s duties under this
Agreement.

 

    	 

    	 

    

1.3             
Efforts. During the Term, the Executive Chairman agrees to serve the Company faithfully, to devote such energy, skills
and ability as reasonably necessary to perform his duties hereunder and to promote the Company’s interests. The Executive
Chairman may become a full-time executive employee of another entity or a member of a board of directors of another entity if such
activity does not materially interfere or conflict with the performance of the Executive Chairman’s duties, services and
responsibilities under this Agreement, including under Sections 6 through 11 hereof (collectively, the “Restrictive Covenants”),
or violate the policies established from time to time by the Company that are applicable to directors and officers of the Company. Notwithstanding anything to the contrary in this Section 1.3 or this Agreement, (a) the Executive Chairman shall be free to continue
participating in those certain business activities that the Executive Chairman has previously disclosed to the Company and in which
he is engaged as of the Execution Date (such activities, together with those that are hereafter disclosed and not objected to under
the last sentence of this Section 1.3, “Permitted Business Activities”) until such time that any Permitted Business
Activity expands into a Competing Business (defined below) in which it was not engaged as of the Execution Date; provided,
that, a Permitted Business Activity shall not be regarded as having expanded into a Competing Business if (i) the individual or
entity engaging in the Permitted Business Activity and for whom the Executive Chairman is providing services was engaging in the
Competing Business prior to the Company and (ii) such Permitted Business Activity is not related to clinical research and drug
development in the areas of Alzheimer’s and type 2 diabetes and (b) the Executive Chairman shall be free to engage in charitable,
community or personal investment activities as long as such activities and investments do not conflict with or interfere with the
Executive Chairman’s obligations under this Agreement, including the Restrictive Covenants, and that any such investments
are in compliance with the Company’s policies and procedures applicable to officers and directors. The Executive Chairman
represents that he has disclosed to the Company all business activities in which he is engaged in as of the Execution Date, and
the Company acknowledges such disclosure. The Executive Chairman agrees to provide the Company with prior written notice of any
new business activities and commitments, and, subject to the terms of this Section 1.3 and requirements of applicable law, the
Board may require the Executive Chairman to resign from his duties hereunder if the Board determines that such new business activity
or commitment, when aggregated with Permitted Activities and the services hereunder, is reasonably likely to materially interfere
with the performance of the Executive Chairman’s duties, services and responsibilities hereunder and the Executive Chairman
continues to participate in such new business activities and commitments after written notice of such determination.

 

    	2

    	 

    

2.            
Termination. This Agreement shall commence on the date hereof and terminate on the earliest of the following to occur
(subject to compliance with applicable laws): (i) the death of the Executive Chairman; (ii) the termination of the Executive Chairman
from his membership on the Board by the mutual agreement of the Company and the Executive Chairman; (iii) the removal of the Executive
Chairman from the Board by the vote of the stockholders of the Company in accordance with applicable law and the terms of the Company’s
governing documents; (iv) the failure of the stockholders to re-elect the Executive Chairman; (v) the resignation by the Executive
Chairman from the Board; or (vi) upon the Executive Chairman becoming prohibited by law from acting as a director.

 

	 	3.	Fees and Compensation

 

3.1             
Base Fee. As compensation for the Executive Chairman’s services under this Agreement, during the Term, the
Company will pay to the Executive Chairman a base fee, payable no less frequently than monthly, at the annual rate of $250,000
(the “Fee”).

 

3.2             
Equity Awards

 

(a)          
IPO Grant. In connection with the IPO, subject to the Executive Chairman’s continued services to the Company
under this Agreement at the time of the pricing of such IPO, the Company shall grant to the Executive Chairman a one-time IPO success
grant of options (the “IPO Grant”) to acquire a number of shares of the Company’s Class A common stock,
par value $0.01 per share (“Common Stock”), with an aggregate Black-Scholes value of $250,000, such value to
be determined by the Compensation Committee of the Board (the “Compensation Committee”) in its good faith discretion,
and an exercise price per share of Common Stock equal to the fair market value of one share of Common Stock within the meaning
of Section 409A of the U.S. Internal Revenue Code of 1986, as amended (the “Code”).

 

(b)          
Annual Equity Bonus. Commencing with fiscal year 2016, the Executive Chairman shall be eligible to receive, to the
extent earned based on the level of the applicable performance criteria, an annual equity performance bonus (an “Equity
Bonus”) in respect of each fiscal year that ends during the Term. The performance criteria for each such fiscal year
shall be established by the Compensation Committee no later than 90 calendar days after the commencement of such fiscal year; provided,
that, the Board (or a subset thereof) may act as the Compensation Committee (and all references to the Compensation Committee in
this Agreement may then apply to the Board). The Executive Chairman’s Equity Bonus for each such fiscal year shall have a
target value equal to the grant date fair market value of $250,000 of Common Stock (the “Target Equity Bonus”),
with greater or lesser amounts (including zero) paid for performance attainment above and below target-level performance attainment.
The target value and type of award shall be determined by the Compensation Committee in its sole discretion; provided, that,
if the Equity Bonus is granted in the form of an option to acquire Common Stock, the target value shall be calculated using a Black-Scholes
option pricing model. Subject to the Executive Chairman’s continued services through the date of grant, the amount earned
in respect of any Equity Bonus shall be determined by the Committee after the end of the fiscal year for which such Equity Bonus
is granted and shall be granted to the Executive Chairman on or prior to March 15 of such following year. Notwithstanding anything
in this Agreement, the Committee may, in its sole discretion, provide for payment of the Equity Bonus in cash as opposed to equity
or equity-based compensation, subject to similar vesting conditions.

 

    	3

    	 

    

(c)            
With respect to the IPO Grant and each Equity Bonus, (i) with respect to the portion of such IPO Grant and Equity Bonus
that consists of options to purchase Common Stock, the exercise price per share of Common Stock subject thereto will equal the
fair market value of one share of Common Stock on the date of grant within the meaning of Section 409A of the Code; (ii) subject
to the Executive Chairman’s continued services hereunder, each such grant will vest and, if applicable, become exercisable
with respect to 33.33% of the shares of Common Stock subject thereto on each of the first three anniversaries of the applicable
grant date, and (iii) the award will have other customary terms and conditions as are consistent with the Company’s equity
incentive plan, as the same shall be in effect from time, and with applicable law; provided, that, if the Company does not
consummate an IPO within six (6) months after the date of this Agreement, then neither the IPO Grant nor any Equity Bonus shall
vest or, if applicable, become exercisable in respect of any shares of Common Stock subject thereto.

 

(d)             
Upon a termination of the Executive Chairman’s services hereunder at any time (i) due to the Executive Chairman’s
death or “Disability” (as defined in the vTv Therapeutics Inc. 2015 Management Incentive Plan); (ii) by the Company
without “Cause” (within the meaning of the Delaware General Corporation Law for the removal of a director from a board
of directors), (iii) due to the failure by the Company to nominate the Executive Chairman as a member of the Board; (iv) due to
the failure of the stockholders to re-elect the Executive Chairman, or (v) due to the Company’s material breach of any agreement
with the Executive Chairman, the IPO Grant and each Equity Bonus will immediately accelerate and be fully vested. Notwithstanding
the foregoing, (x) with respect to an event described in clause (iv) of the immediately preceding sentence, such acceleration shall
only occur if the Executive Chairman actually resigns from his service under this contract within 30 days after the date of the
stockholder vote and (y) with respect to an event described in clause (v) of the preceding sentence, such acceleration shall only
occur if the Executive Chairman provides written notice to the Company of the occurrence of the event detailing the relevant facts
and circumstances that constitutes the alleged breach within 45 days following such event, the Company has not cured such event
within 30 days following receipt of such notice, and the Executive Chairman actually resigns from his service under this contract
within 10 days after the expiration of the 30-day cure period.

 

3.3             
Business Expenses. The Company shall pay or reimburse the Executive Chairman for all reasonable expenses actually
incurred or paid by the Executive Chairman during the Term in the performance of the services hereunder, including without limitation
for any travel to and from the Company’s offices in North Carolina to the extent any such travel is required, it being the
understanding of the parties hereto that the Executive Chairman is not required to perform his services hereunder from such offices;
provided, however, that (i) reimbursement is subject to such policies as the Company may from time to time establish,
and (ii) such expense must be properly documented, and the request for reimbursement must be invoiced by the Executive Chairman.
The Company agrees to provide the Executive Chairman with a receipt reflecting reimbursement hereunder.

 

    	4

    	 

    

3.4             
Except as provided in this Section 3, the Executive Chairman shall not receive any compensation in respect of his service
as a member or as executive chairman of the Board.

 

4.            
Status as an Independent Contractor. Nothing herein contained shall be construed to constitute the parties to this
Agreement as employer and employee. The Executive Chairman’s relationship to the Company, vTv Therapeutics LLC (the “Operating
Company”) and any Subsidiaries of the Operating Company, during the Term and for any period the Executive Chairman continues
to be engaged by any of them after the Term, shall only be that of an independent contractor, and the Executive Chairman shall
perform all duties pursuant to this Agreement as an independent contractor. At no time shall the Executive Chairman identify himself
as an employee of the Company, the Operating Company or any Subsidiary (defined below) of the Operating Company. The Executive
Chairman may not cite services under this Agreement in support of any claim to be an employee of the Company, the Operating Company
or any Subsidiary of the Operating Company for the purpose of claiming any statutory or common law benefit. The Executive Chairman
shall not be eligible to participate in any employee benefit program provided by the Company, the Operating Company or any Subsidiary
of the Operating Company to any of their respective employees. The Executive Chairman shall be solely responsible for the payment
of all federal, state, or local income taxes, social security taxes, and other taxes that are imposed on the recipient of compensation
earned by the Executive Chairman under this Agreement. The Executive Chairman further understands that he may be liable for self-employment
(social security) tax to be paid by the Executive Chairman in accordance with applicable law.

 

5.             
Restrictive Covenant Acknowledgments; Reasonableness.

 

The Executive Chairman acknowledges that
(i) his services and his job duties for the Company, including under this Agreement, have resulted and will continue to result
in Executive Chairman’s exposure to and familiarity with Confidential Information (as such term is defined in Section 9 of
this Agreement) and that the disclosure or unauthorized use of such Confidential Information by the Executive Chairman will injure
the Company’s business; (ii) the Company’s business would suffer great competitive harm if its Confidential Information
should be disclosed to its competitors or to the general public, and the Company would also suffer great harm if the Executive
Chairman were to exploit the relationships which have been established with the Company’s customers for the benefit of a
competitor; (iii) the Company is entering into this Agreement in order to prevent the disclosure of trade secrets and other competitively
sensitive information relating to the Company’s business, and in order to facilitate and induce the disclosure of Confidential
Information among employees and other service providers of the Company with the assurance that such information will not be used
in unfair competition against the Company; (iv) he has had the opportunity to be represented by counsel in the negotiation and
execution of this Agreement; and (v) that the covenants set forth in Sections 6 through 12 of this Agreement are reasonable in
terms of duration, scope and area restrictions and are necessary for the protection of the legitimate business interests of the
Company and its Affiliates. If, at the time of enforcement of such covenants, a court shall hold that the duration, scope or area
restrictions stated therein are unreasonable under circumstances then existing, the Executive Chairman and the Company agree that
the maximum duration, scope or area reasonable under such circumstances shall be substituted for the stated duration, scope or
area and that the court shall be allowed and directed to revise the covenants to cover the maximum period, scope and area permitted
by applicable law. For purposes of Sections 5 through 10, 12, and 13 of this Agreement, the term “Company” shall include
the Company, its Subsidiaries and its Affiliates.

 

    	5

    	 

    

		6.	Covenants Relating to Ownership of Notes, Records and Documents.

 

All memoranda, notes, records and other
documents (and copies thereof), whether in hard copy or electronic format, made or compiled by the Executive Chairman or made available
to the Executive Chairman during his services concerning the business of the Company, including, without limitation, all technical
or scientific data, ideas, intellectual property, records, notes, experiment books, bidding data and other technical material of
the Company shall be the Company’s property; provided, that, the Executive Chairman shall be entitled to keep a copy
of this Agreement and compensation and benefit plans to which the Executive is entitled to receive benefits thereunder. All such
property shall be delivered to the Company on the date of termination of the Executive Chairman’s services or upon request
at any time by the Company, regardless of whether such property contains Confidential Information. The Company agrees that, to
the extent that it retains any such property following its return as contemplated by this Section 6, the Company shall make such
documents available to the Executive Chairman if reasonably requested by the Executive Chairman in connection with any litigation
or any investigation by any governmental authority in which the Executive Chairman is involved, subject to the Executive Chairman’s
agreement to enter into a nondisclosure agreement with respect to such property and subject in all cases to the Company’s
internal corporate policies as the same may be in effect from time to time.

 

	 	7.	Non-Solicitation Covenants.

 

7.1             
During the Term and for a period of one (1) year following termination of the Executive Chairman’s services for any
reason (the “Restricted Period”), the Executive Chairman shall not, directly or indirectly, (i) solicit, divert
or take away (or attempt to solicit, divert or take away) the business of any client, customer or supplier of the Company (each
such party, a “Restricted Party”) or (ii) encourage any Restricted Party to cease doing business with the Company
or to reduce the amount of business such Restricted Party does with the Company; provided, that, the Executive Chairman
shall not be restricted from engaging in the activities contemplated by clause (ii) if such activities occur in the good faith
performance by the Executive Chairman of his duties under this Agreement.

 

    	6

    	 

    

7.2             
The Executive Chairman shall not, for the duration of the Restricted Period, directly or indirectly (i) solicit or encourage
(or cause to be solicited or encouraged) any employee of the Company or person who was an employee of the Company within the six-month
period preceding such solicitation or encouragement, to cease employment with the Company, except in the good faith performance
of the Executive Chairman’s duties hereunder or (ii) interfere with the relationship of the Company with any consultant then
under contract with the Company; provided, that, the Executive shall not be prohibited from placing an advertisement or
general solicitation for employment that is not specifically directed at any particular individual; provided, further,
that, the Executive Chairman may serve as a reference for an employee upon such employee’s request so long as the Executive
Chairman is not affiliated with the entity the reference is being provided to and the Executive Chairman is not identifying employees
of the Company as target for hire.

 

	 	8.	Noncompetition Covenant.

 

In support of the Executive Chairman’s
commitment to maintain the confidentiality of the Company’s Confidential Information, and except for his continued participation
in Permitted Business Activities (as such term is defined in Section 1.3 of this Agreement), during the Restricted Period, the
Executive Chairman shall not, directly or indirectly, (a) enter the employ of, or render services to (including as a salesperson,
consultant or in strategic planning role), any “Competing Business” within the “Territory” (as such terms
are defined below), (b) engage in any Competing Business within the Territory for his own account, or (c) become interested in
a Competing Business within the Territory as a partner, shareholder (whether or not a controlling shareholder), director, officer,
principal, agent, trustee, or in any other relationship or capacity. For purposes of this Agreement, “Competing Business”
shall be defined as any business that engages in clinical research and drug development in the areas of Alzheimer’s, type
2 diabetes or any other therapeutic area that the Company may discover or develop during the Term; provided, that, Competing Business
shall not include any therapeutic area in which the Executive Chairman was involved prior to the discovery or development of such
therapeutic area by the Company; provided, further, that, as applied to conduct by the Executive Chairman following
the Term, a Competing Business shall only include such activities that the Company was engaged in as of the last day of the Term.
For purposes of this Agreement, “Territory” shall be defined as each and all of the geographic areas and locations
where (x) the Company carries on or transacts its business, (y) the Company sells or markets its products or services, or (z) the
Company’s customers are located. Nothing in this Section 8 shall prohibit the Executive Chairman from: (a) serving as a member
of the board of directors of a company with publicly traded common stock, the aggregate market capitalization of which is larger
than $500 million, even if such company engages in a Competing Business as long as the Competing Business represents less than
3% of the annual revenues of the company and the Executive Chairman recuses himself from any meetings and conversations about such
Competing Business; (b) investing in any publicly traded security or in any commingled hedge or private equity fund or other similar
commingled alternative investment vehicle as long as (i) such investment represents less than 2% of the outstanding voting securities
of the issuer of the publicly traded security or of the equity interests in any such fund or vehicle and (ii) the Executive Chairman
does not play an active role in any activity of the fund or vehicle; or (c) entering the employ of or rendering services to any
organization, an insubstantial division or department of which is engaged in a Competing Business, where “insubstantial”
means the annual revenues of such division or department consist of less than 3% of the annual revenues of the whole organization,
as long as the Executive Chairman does not provide services to such division or department.

 

    	7

    	 

    

	 	9.	Covenant Not to Disclose Confidential Information.

 

The Executive Chairman agrees that he has
not and shall not, at any time during or after the Term, use, reveal or divulge (i) any trade secrets (as defined under applicable
state law), (ii) any other confidential information, including business plans, customer information, formulae, financial information,
pricing information, technical scientific data, technical processes clinical or pre-clinical data, protocols, research projects,
results, information technology programs or processes, database, or other information which the Company deems to be confidential
or commercially sensitive, or (iii) any material confidential information whatsoever concerning any director, officer, employee,
shareholder, partner, customer or agent of the Company or their respective family members learned by the Executive Chairman heretofore
or hereafter (clauses (i) through (iii), collectively, “Confidential Information”), in each case unless and
only to the extent such use, revelation or disclosure is required by law or otherwise appropriate in the good faith course of the
performance of the Executive Chairman’s duties under this Agreement.

 

	 	10.	Non-disparagement Covenant.

 

The Executive Chairman agrees, at all times
during the Term and until the later of five years after the Term expires and the date on which the Designated Holders (defined
below) no longer holds equity interests representing at least 30% of the value of the equity interests of the Operating Company
(the “Non-disparagement Period”), the Executive Chairman shall not issue, circulate or publish any false or
disparaging statements or remarks about the Company or its products, services, employees, directors, or officers; provided,
that, nothing herein shall prohibit the Executive Chairman from (a) providing truthful testimony if such testimony is required
by law, (b) making a truthful statement in response to any statement made about the Executive Chairman in breach of this Section
10, (c) making statements to other members of the Board or to officers or employees of the Company in the good faith performance
of his duties under this Agreement, or (d) making any normal competitive type statements after the expiration of the Restricted
Period that does not otherwise constitute a breach of Section 8 of this Agreement. The directors and executive officers of the
Company shall not, during the Non-disparagement Period, issue, circulate or publish any false or disparaging statements or remarks
about the Executive Chairman; provided, that, nothing herein shall prohibit any director or executive officer of
the Company from (a) providing truthful testimony if such testimony is required by law, (b) making a truthful statement in response
to any statement made by the Executive Chairman in breach of this Section 10, or (c) making statements to other members of the
Board or to any other executive officer or employee of the Company in the good faith performance of his or her duties to the Company,
or (d) making any normal competitive-type statements at a time when the Executive Chairman is no longer providing any services
pursuant to this Agreement . For purposes of this Agreement, “Designated Holder” means (i) MacAndrews and Forbes;
(ii) any Affiliate or subsidiary of MacAndrews and Forbes (collectively with MacAndrews and Forbes (the “M&F
Entities”); (iii) Ronald O. Perelman; or (iv) the estate of, Immediate Family (defined below) of, or any other trust
or other legal entity the primary beneficiary of which is the Immediate Family of, Ronald O. Perelman. For purposes of this Agreement,
“Immediate Family” means, with respect to any individual, the spouse, ex-spouse, children, step-children and
their respective lineal descendants.

    	8

    	 

    

 

	 	11.	Inventions Covenant.

 

11.1         
During the Term, the Executive Chairman agrees to promptly disclose in confidence to the Company all inventions, improvements,
designs, original works of authorship, formulae, processes, algorithms, compositions of matter, computer software programs, databases,
mask works, and trade secrets (“Inventions”) that the Executive Chairman makes or conceives or first reduces
to practice or creates, either alone or jointly with others, in the course of his services to the Company, and whether or not such
Inventions are patentable, copyrightable, or protectable as trade secrets.

 

11.2         
The Executive Chairman understands that, under copyright laws, any copyrightable works prepared by the Executive Chairman
within the course and scope of his services to the Company are “works for hire.” Consequently, the Company will be
considered the author and owner of such works.

 

11.3         
The Executive Chairman agrees that all Inventions that (a) are developed using equipment, supplies, facilities or trade
secrets of the Company, (b) result from work performed by the Executive Chairman for the Company, or (c) relate to the Company’s
business or current or anticipated research and development, will be the sole and exclusive property of the Company. The Executive
Chairman hereby assigns and agrees to transfer to the Company any and all rights he may own in and to such Inventions, including
all intellectual property rights, registrations, trade secrets rights as well as worldwide rights in any intellectual property
or other forms of protection applicable to such Inventions.

 

11.4         
The Executive Chairman also waives and agrees never to assert any “Moral Rights” the Executive might have in
or with respect to any Invention even after the Executive Chairman leaves the Company. “Moral Rights” means any right
(or similar right existing under the judicial or statutory law of any country or treaty) to claim authorship of any Invention,
to object or prevent modification of any Invention, or to withdraw from circulation or to control the publication distribution
of any Invention.

 

11.5         
The Executive Chairman agrees to execute, acknowledge, make and deliver to the Company or its attorneys, without additional
compensation, but without expense to the Executive Chairman, any and all instruments, including, without limitation, United States
and foreign patent applications, trademark and copyright applications, applications for securing, protecting or registering any
property rights embraced within this Agreement, powers of attorney, assignments, oaths or affirmations, supplemental oaths and
sworn statements, and to do any and all lawful acts that, in the judgment of the Company or its attorneys, may be necessary or
desirable to vest in or secure for, or maintain for the benefit of, the Company, adequate patent and other property rights in the
United States and all foreign countries with respect to any and all such Inventions.

 

    	9

    	 

    

11.6         
The Executive Chairman has attached hereto a list describing all inventions, original works of authorship, developments,
improvements, and trade secrets which were made by the Executive Chairman prior to the Term (collectively referred to as “Prior
Inventions”), which belong to the Executive Chairman, 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, the Executive
Chairman represents that there are no such Prior Inventions. The Executive Chairman agrees that he will not incorporate, or permit
to be incorporated, any Prior Invention owned by the Executive Chairman or in which he has an interest into a Company product or
process without the Company’s prior written consent. Notwithstanding the foregoing sentence, if, in the course of the Executive
Chairman’s services, the Executive Chairman incorporates into a Company product or process a Prior Invention owned by the
Executive Chairman or in which he has 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 or process.

 

	 	12.	Property of the Company.

 

The Executive Chairman
acknowledges that from time to time in the course of providing services pursuant to this Agreement he shall have the opportunity
to inspect and use certain property, both tangible and intangible, of the Company, and the Executive Chairman hereby agrees that
said property shall remain the exclusive property of the Company, and the Executive Chairman shall have no right or proprietary
interest in such property, whether tangible or intangible, including, without limitation, the Company’s customer and supplier lists,
contract forms, books of account, computer programs and similar property; provided, that, the Executive Chairman shall be
entitled to retain his address book/contact list to the extent it only contains contact information. The Executive Chairman acknowledges
and agrees that he has no expectation of privacy with respect to the Company’s telecommunications, networking or information
processing systems (including, without limitation, files, e-mail messages and voice messages) and that the Executive Chairman’s
activity and any files or messages on or using any of those systems may be monitored at any time without notice. The Executive
Chairman further agrees that any property situated on the Company’s premises and owned by the Company, including disks and
other storage media, filing cabinets or other work areas, is subject to inspection by Company personnel without notice.

 

    	10

    	 

    

	 	13.	Remedies.

 

13.1         
The Executive Chairman and the Company agree and acknowledge that any breach or threatened breach of this Agreement by the
Executive Chairman would result in continuing material and irreparable harm and injury to the Company and/or its Affiliates, and
because either (i) money damages will not provide an adequate remedy to the Company or (ii) it would be difficult or impossible
to establish the full monetary value of such damages, the Company shall be entitled to equitable relief (including, without limitation,
specific performance, account for profits, or injunctive relief) in the event of the Executive Chairman’s breach or threatened
breach of this Agreement. Any equitable relief is in addition to any other available remedy, including, damages.

 

13.2         
To the extent permitted by law, if the Executive Chairman materially breaches any of the Restrictive Covenants and the Company
obtains injunctive relief with respect thereto (that is not later reversed or otherwise terminated or vacated by judicial order),
the period during which the Executive Chairman is required to comply with that particular covenant shall be extended by the same
period that the Executive Chairman was in breach of such covenant prior to the effective date of such injunctive relief.

 

	 	14.	Indemnification.

 

The Company shall indemnify the Executive
Chairman in his capacity as an officer and director of the Company to the fullest extent permitted by applicable law against all
debts, judgments, costs, charges or expenses incurred or sustained by the Executive Chairman in connection with any action, suit
or proceeding to which the Executive Chairman may be made a party by reason of his being or having been an officer or director
of the Company, or because of actions taken by the Executive Chairman which were believed by the Executive Chairman to be in the
best interests of the Company, and the Executive Chairman shall be entitled to be covered by any directors’ and officers’
liability insurance policies which the Company may maintain for the benefit of its directors and officers subject to the limitations
of any such policies. The indemnification and coverage provided pursuant to the immediately preceding sentence shall be no less
favorable than what is provided to any other member of the Board. The Company shall have the right to assume, with legal counsel
of its choice, the defense of the Executive Chairman in any such action, suit or proceeding for which the Company is providing
indemnification to the Executive Chairman. Should the Executive Chairman determine to employ separate legal counsel in any such
action, suit or proceeding, any costs and expenses of such separate legal counsel shall be the sole responsibility of the Executive
Chairman; provided, that, if the Executive Chairman employed such counsel after reasonably determining in his good faith
judgment that there is an actual, material conflict created by his being represented by the legal counsel to the Company contemplated
by the immediately preceding sentence, then the Company will reimburse the Executive Chairman for the reasonable costs and expenses
of such separate legal counsel. If the Company does not assume the defense of any such action, suit or other proceeding, the Company
shall, upon request of the Executive Chairman, promptly advance or pay any amount for costs or expenses (including, without limitation,
the reasonable legal fees and expense of counsel retained by the Executive Chairman) incurred by the Executive Chairman in connection
with any such action, suit or proceeding. The Executive Chairman must timely repay the amount of any such advance if it shall ultimately
be determined that he is not entitled to be indemnified against such costs and expenses. The Company shall not be obligated to
indemnify the Executive Chairman against any actions that constitute an act of gross negligence or willful misconduct or contrary
to the general indemnification provision of the DGCL or the Company’s certificate of incorporation or bylaws. This Section
shall survive the Term of this Agreement.

    	11

    	 

    

 

	 	15.	280G Modified Cutback.

 

15.1         
Notwithstanding anything to the contrary contained in this Agreement, to the extent that any amount, equity awards or benefits
paid or distributed to the Executive Chairman pursuant to this Agreement or any other agreement, plan or arrangement between the
Company or its subsidiaries or affiliates, on the one hand, and the Executive Chairman on the other hand (collectively, the “280G
Payments”) (i) constitute a “parachute payment” within the meaning of Section 280G of the Code and (ii) but
for this provision would be subject to the excise tax imposed by Section 4999 of the Code, then the 280G Payments shall be payable
either (a) in full or (b) in such lesser amount that would result in no portion of such 280G Payments being subject to excise tax
under Section 4999 of the Code, whichever of the foregoing amounts, taking into account the applicable federal, state and local
income or excise taxes (including the excise tax imposed by Section 4999), results in the Executive Chairman’s receipt on
an after-tax basis of the greatest amount or benefits under this Agreement, notwithstanding that all or some portion of such benefits
may be taxable under Section 4999 of the Code.

 

15.2         
To the extent permitted by applicable law, and not a violation of Code Sections 280G, 409A or 4999, the Executive Chairman
shall be entitled to elect the order in which payments will be reduced. If the Executive Chairman electing the order in which payments
will be reduced would result in violation of Code Section 409A or loss of the benefit of reduction under Code Sections 280G or
4999, payments shall be reduced in the following order (i) cash payments; (ii) acceleration of vesting of stock options with an
exercise price that exceeds the then fair market value of stock subject to the option, provided such options are not permitted
to be valued under Treasury Regulations Section 1.280G-1 Q/A – 24(c); (iii) any equity awards accelerated or otherwise valued
at full value, provided such equity awards are not permitted to be valued under Treasury Regulations Section 1.280G-1 Q/A –
24(c); (iv) acceleration of vesting of stock options with an exercise price that exceeds the then fair market value of stock subject
to the option, provided such options are permitted to be valued under Treasury Regulations Section 1.280G-1 Q/A – 24(c);
(v) acceleration of vesting of all other stock options and equity awards; and (vi) within any category, reductions shall be from
the last due payment to the first.

 

    	12

    	 

    

	 	16.	Notices.

 

All notices, requests, consents and other
communications required or permitted to be given hereunder shall be in writing and shall be deemed to have been duly given if delivered
personally, sent by overnight courier or mailed first class, postage prepaid, by registered or certified mail (notices mailed shall
be deemed to have been given on the date mailed), as follows (or to such other address as either party shall designate by notice
in writing to the other in accordance herewith):

 

If to the Company, to:

 

vTv Therapeutics Inc.

4170 Mendenhall Oaks Pkwy High Point, NC 27265

Attention: Chief Financial Officer

 

If to the Executive Chairman, to:

 

Such address as shall most currently appear on the records
of the Company.

 

	 	17.	Code Section 409A.

 

17.1         
This Agreement is intended to comply with, or be exempt from, Code Section 409A (“Section 409A”) and
will be interpreted, administered and operated in a manner consistent with that intent.

 

17.2         
For purposes of Section 409A, each of the payments that may be made under this Agreement are designated as separate payments. 
For purposes of this Agreement, with respect to payments of any amounts that are considered to be “deferred compensation”
subject to Section 409A, references to “termination of services” (and substantially similar phrases) shall be interpreted
and applied in a manner that is consistent with the requirements of Section 409A.

 

17.3         
Notwithstanding anything in this Agreement to the contrary, in the event that the Executive Chairman is deemed to be a “specified
employee” within the meaning of Section 409A(a)(2)(B)(i) of the Code, no payments that are “deferred compensation”
subject to Section 409A that are made by reason of the Executive Chairman’s “separation from service” within
the meaning of Section 409A shall be made to the Executive Chairman prior to the date that is six (6) months after the date of
the Executive Chairman’s “separation from service” or, if earlier, the Executive Chairman’s date of death. 
Immediately following such delay period, all such delayed payments will be paid in a single lump sum.  Except as permitted
under Section 409A, any deferred compensation that is subject to Section 409A and is payable to or for the Executive Chairman’s
benefit under any Company sponsored plan, program, agreement or arrangement may not be reduced by, or offset against, any amount
owing by the Executive Chairman to the Company or any affiliate.

 

    	13

    	 

    

18.          
Notwithstanding anything to the contrary in this Agreement, any payment or benefit under this Agreement that is exempt from
Section 409A pursuant to Treasury Regulation § 1.409A-1(b)(9)(v)(A) or (C) (relating to certain reimbursements and in-kind
benefits) shall be paid or provided to the Executive Chairman only to the extent that the expenses are not incurred, or the benefits
are not provided, beyond the last day of the second calendar year following the calendar year in which the Executive Chairman’s
“separation from service” occurs; and provided further that such expenses are reimbursed no later than the last day
of the third calendar year following the calendar year in which the Executive Chairman’s “separation from service”
occurs.  Any payment or benefit paid to the Executive Chairman hereunder in respect of reimbursement of taxes incurred by
the Executive Chairman shall be paid to the Executive Chairman no later than the end of the calendar year following the year in
which the related taxes are required to be paid. To the extent any indemnification payment, expense reimbursement, or the provision
of any in-kind benefit is determined to be subject to Section 409A (and not exempt pursuant to the prior sentence or otherwise),
the amount of any such indemnification payment or expenses eligible for reimbursement, or the provision of any in-kind benefit,
in one calendar year shall not affect the indemnification payment or provision of in-kind benefits or expenses eligible for reimbursement
in any other calendar year (except for any life-time or other aggregate limitation applicable to medical expenses), and in no event
shall any indemnification payment or expenses be reimbursed after the last day of the calendar year following the calendar year
in which the Executive Chairman incurred such indemnification payment or expenses, and in no event shall any right to indemnification
payment or reimbursement or the provision of any in-kind benefit be subject to liquidation or exchange for another benefit.

 

	 	19.	Governing Law; Dispute Resolution.

 

19.1         
It is the intent of the parties hereto that all questions with respect to the construction of this Agreement and the rights
and liabilities of the parties hereunder shall be determined in accordance with the laws of the State of Delaware, without regard
to principles of conflicts of laws thereof that would call for the application of the substantive law of any jurisdiction other
than the State of Delaware.

 

19.2         
Each party irrevocably agrees for the exclusive benefit of the other that any and all suits, actions or proceedings relating
to this Agreement (a “Proceeding”) shall be maintained in either the courts of the State of Delaware or the
federal District Courts sitting in Wilmington, Delaware (collectively, the “Chosen Courts”) and that the Chosen
Courts shall have exclusive jurisdiction to hear and determine or settle any such Proceeding and that any such Proceedings shall
only be brought in the Chosen Courts. Each party irrevocably waives any objection that it may have now or hereafter to the laying
of the venue of any Proceedings in the Chosen Courts and any claim that any Proceedings have been brought in an inconvenient forum
and further irrevocably agrees that a judgment in any Proceeding brought in the Chosen Courts shall be conclusive and binding upon
it and may be enforced in the courts of any other jurisdiction.

 

    	14

    	 

    

19.3         
Each of the parties hereto agrees that this Agreement involves at least $100,000 and that this Agreement has been entered
into in express reliance on Section 2708 of Title 6 of the Delaware Code. Each of the parties hereto irrevocably and unconditionally
agrees that (i) to the extent such party is not otherwise subject to service of process in the State of Delaware, it will appoint
(and maintain an agreement with respect to) an agent in the State of Delaware as such party’s agent for acceptance of legal
process and notify the other parties hereto of the name and address of said agent, (ii) service of process may also be made on
such party by pre-paid certified mail with a validated proof of mailing receipt constituting evidence of valid service sent to
such party at the address set forth in Section 15 of this Agreement, as such address may be changed from time to time pursuant
hereto, and (iii) service made pursuant to clause (i) or (ii) above shall, to the fullest extent permitted by applicable law, have
the same legal force and effect as if served upon such party personally within the State of Delaware.

 

	 	20.	The Executive Chairman’s Representation and Acknowledgment; Covenants.

 

The Executive Chairman represents to the Company
that his execution and performance of this Agreement shall not be in violation of any agreement or obligation (whether or not written)
that he may have with or to any person or entity, including without limitation any prior or current employer. The Executive Chairman
agrees to execute and comply at all times with the Company’s guidelines applicable to insider trading, stock ownership, hedging
transactions, ethics, and all other policies adopted by the Company that are applicable to directors. The Executive Chairman further
represents that he shall provide a copy of this Agreement to any future employer during the Term and for one (1) year thereafter
and that the Company shall have a right to provide a copy of this Agreement to any future employer of the Executive Chairman during
such period.

 

21.           
Legal Fees. The Company shall, or shall cause the Operating Company to, reimburse the Executive Chairman for up to
an aggregate maximum amount of $10,000 for any documented reasonable legal fees and expenses expended or incurred by the Executive
Chairman in connection with negotiating the terms of this Agreement; provided, that, such reimbursement will be made as
soon as commercially practicable following the consummation of the IPO; provided, further, that, whether an IPO is
consummated or not, reimbursement of expenses pursuant to this Section 21 shall be made no later than March 15, 2016.

 

	 	22.	General.

 

22.1         
JURY TRIAL WAIVER. THE PARTIES EXPRESSLY AND KNOWINGLY WAIVE ANY RIGHT TO A JURY TRIAL IN THE EVENT ANY ACTION ARISING
UNDER OR IN CONNECTION WITH THIS AGREEMENT OR THE EXECUTIVE CHAIRMAN’S ENGAGEMENT WITH THE COMPANY IS LITIGATED OR HEARD
IN ANY COURT.

 

22.2         
Headings. The section headings contained herein are for reference purposes only and shall not in any way affect the
meaning or interpretation of this Agreement.

 

    	15

    	 

    

22.3         
Entire Agreement. This Agreement sets forth the entire agreement and understanding of the parties relating to the
Executive Chairman’s engagement by the Company, and supersedes all prior agreements, arrangements and understandings, written
or oral, relating to the Executive Chairman’s engagement by the Company and its Affiliates including. No representation,
promise or inducement has been made by either party that is not embodied in this Agreement, and neither party shall be bound by
or liable for any alleged representation, promise or inducement not so set forth.

 

22.4         
Assignment; Successors. This Agreement, and the Executive Chairman’s rights and obligations hereunder, may
not be assigned by the Executive Chairman. The Company may assign its rights, together with its obligations, hereunder to (i) any
successor to all or substantially all of the business or assets of the Company or (ii) to an Affiliate of the Company in connection
with an internal reorganization of the Company; provided, that, any assignment of this Agreement by the Company pursuant
to an event described in clause (ii) of this Section shall not relieve the Company or a successor public company of its obligations
hereunder in the event of the failure of such assignee to honor the Agreement.

 

22.5         
Waiver. This Agreement may be amended, modified, superseded, canceled, renewed or extended and the terms or covenants
hereof may be waived, only by a written instrument executed by all of the parties hereto, or in the case of a waiver, by the party
waiving compliance. The failure of either party at any time or times to require performance of any provision hereof shall in no
manner affect the right at a later time to enforce the same. No waiver by either party of the breach of any term or covenant contained
in this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deemed to be, or construed as, a further
or continuing waiver of any such breach, or a waiver of the breach of any other term or covenant contained in this Agreement.

 

	 	23.	Subsidiaries and Affiliates.

 

23.1         
As used herein, the term “Subsidiary” shall mean any corporation or other business entity controlled
directly or indirectly by the Company or other business entity in question, and the term “Affiliate” shall mean
and include any corporation or other business entity directly or indirectly controlling, controlled by or under common control
with the Company or other business entity in question.

 

[Remainder of Page Intentionally
Left Blank]

    	16

    	 

    

 

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

 

 

 

 

	 		VTV THERAPEUTICS INC.

 

 

		By:	/s/ Stephen Holcombe

	 	 	Name: Stephen Holcombe

Title: President & Chief Executive Officer

 

 

			/s/ Jeff Kindler

	 	 	JEFF KINDLER

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00247-of-00352.parquet"}]]