Document:

fprx-ex103_298.htm

CONFIDENTIAL

 

Exhibit 10.3

Amendment No. 2 to the Executive Severance Benefits Agreement

This Amendment No. 2 to the Executive Severance Benefits Agreement (this “Amendment”), effective January 1, 2018 (the “Amendment Effective Date”), is made and entered into by and between Five Prime Therapeutics, Inc., a Delaware corporation (“FivePrime”), and Aron Knickerbocker, an individual (“Executive”).  

Background

A.FivePrime and Executive are parties to the Executive Severance Benefits Agreement, dated December 30, 2009, as amended (the “Agreement”).  

B.FivePrime and Executive desire to amend the Agreement, in accordance with Section 7.7 of the Agreement. 

Now, therefore, FivePrime and Executive agree as follows:

1.Amendment of the Agreement. FivePrime and Executive agree to amend the terms of the Agreement as provided below, effective as of the Amendment Effective Date.  Where the Agreement is not explicitly amended, the terms of the Agreement will remain in full force and effect.  Capitalized terms used in this Amendment that are not otherwise defined herein shall have the same meanings as such terms are given in the Agreement.  

2.Title of Executive. Section 1.1 of the Agreement is hereby amended and restated in its entirety as set forth below:

“The Company desires to employ Executive, or to continue Executive’s employment, in the position of President and Chief Executive Officer, and Executive wishes to be employed, or continue to be employed, by the Company in such position.”

3.Change in Control Severance Period. Section 6.5 of the Agreement is hereby amended and restated in its entirety as set forth below:

““Change in Control Severance Period” means the period of twenty-four (24) months commencing on the Termination Date.”

4.Covered Termination Severance Period. Section 6.11 of the Agreement is hereby amended and restated in its entirety as set forth below:

““Covered Termination Severance Period” means the period of twelve (12) months commencing on the Termination Date.”

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CONFIDENTIAL

 

5.Miscellaneous.

5.1Full Force and Effect.  This Amendment amends the terms of the Agreement and is deemed incorporated into the Agreement.  The provisions of the Agreement, as amended by this Amendment, remain in full force and effect.

5.2Entire Agreement.  The Agreement, as amended by this Amendment, sets forth the entire understanding of FivePrime and Executive relating to the subject matter thereof and supersedes all prior agreements and understandings between FivePrime and Executive relating to the subject matter thereof.

In Witness Whereof, FivePrime and Executive have executed this Amendment as of the Amendment Effective Date.

 

	
Five Prime Therapeutics, Inc.
	
 
	
 

	
 
	
 
	
 

	
/s/ Lewis T. Williams
	
 
	
/s/ Aron Knickerbocker

	
Lewis T. Williams
	
 
	
Aron Knickerbocker

	
President and Chief Executive Officer
	
 
	
 

 

2fprx-ex104_299.htm

Exhibit 10.4

AMENDMENT NO. 1

TO THE

2013 OMNIBUS INCENTIVE PLAN

This Amendment No. 1 to the 2013 Omnibus Incentive Plan (this “Amendment”) is made by Five Prime Therapeutics, Inc. (the “Company”), as of August 22, 2017. Capitalized terms used herein and not otherwise defined shall have the meaning ascribed thereto in the 2013 Omnibus Incentive Plan (the “Plan”).

WHEREAS, pursuant to Section 5.3 of the Plan, the Board of Directors of the Company (the “Board”) may, at any time and from time to time, amend the Plan as to any shares of Stock as to which Awards have not been made, which amendment may be contingent on approval of the Company’s stockholders to the extent stated by the Board, required by Applicable Laws or required by the Stock Exchange on which the shares of Stock are listed; 

WHEREAS, the Board has determined that the actions set forth in this Amendment do not require the approval of the Company’s stockholders; and  

WHEREAS, the Board has determined that it is in the best interest of the Company to amend the Plan as set forth in this Amendment.

NOW, THEREFORE, in accordance with the foregoing, the Plan is amended as follows:

	
 
	
1.
	
Section 18.3 of the Plan is hereby amended and restated in its entirety to read as follows:

“18.3Withholding Taxes.  The Company or an Affiliate, as the case may be, shall have the right to deduct from payments of any kind otherwise due to a Grantee any federal, state, or local taxes of any kind required by law to be withheld with respect to the vesting of or other lapse of restrictions applicable to an Award or upon the issuance of any shares of Stock upon the exercise of an Option or pursuant to an Award.  At the time of such vesting, lapse, or exercise, the Grantee shall pay in cash to the Company or an Affiliate, as the case may be, any amount that the Company or an Affiliate may reasonably determine to be necessary to satisfy such withholding obligation; provided, however, that if there is a same day sale, the Grantee shall pay such withholding obligation on the day that the same day sale is completed.  Subject to the prior approval of, with respect to the Company, the Board or a Committee, and with respect to an Affiliate, the board of directors of such Affiliate or a committee of such board of directors composed of non-employee directors, which approval may be withheld by, with respect to the Company, the Board or such Committee, and with respect to an Affiliate, the board of directors of such Affiliate or such committee of such board of directors, as the case may be, in its sole discretion, the Grantee may elect to satisfy such obligations, in whole or in part, (i) by causing the Company or an Affiliate to withhold shares of Stock otherwise issuable to the Grantee or (ii) by delivering to the Company or an Affiliate shares of Stock already owned by the Grantee.  The shares of Stock so delivered or withheld shall have an aggregate Fair Market Value equal to such withholding obligations.  The Fair Market Value of the shares of Stock used to satisfy such withholding obligation shall be determined by the Company or an Affiliate as of the date that the amount of tax to be withheld is to be determined.  A Grantee who has made an election pursuant to this Section 18.3 may satisfy his or her withholding obligation only with shares of Stock that are not subject to any repurchase, forfeiture, unfulfilled vesting, or other similar requirements.  The maximum number of shares of Stock that may be withheld from any Award to satisfy any federal, state or local tax withholding requirements upon the exercise, vesting, lapse of restrictions applicable to such Award or payment of shares of Stock pursuant to such Award, as applicable, cannot exceed such number of shares of Stock having a Fair Market Value equal to the maximum statutory amount the Company or an Affiliate may withhold and pay to any such federal, state or local taxing authority with respect to such exercise, vesting, lapse of restrictions or payment of shares of Stock.  For purposes of determining taxable income and the amount of the related tax withholding obligation under this Section 18.3, notwithstanding Section 2.18 or this 

Section 18.3, for any shares of Stock that are sold on the same day that such shares of Stock are first legally saleable pursuant to the terms of the applicable award agreement, Fair Market Value shall be determined based upon the sale price for such shares of Stock so long as the Grantee has provided the Company with advance written notice of such sale.”

	
 
	
2.
	
Except as modified by this Amendment, all the terms and provisions of the Plan shall remain in full force and effect.

 

IN WITNESS WHEREOF, the Company has executed this Amendment as of August 22, 2017.

 

 

	
Five Prime Therapeutics, Inc.

	
 

	
/s/ Lewis T. Williams
	
 

	
By: Lewis T. Williams

	
Its: President and Chief Executive OfficerEX-4.1

 Exhibit 4.1 

ADDENDUM 
 TO A SHARE
PURCHASE AGREEMENT 
 DATED 9 AUGUST 2017 

This addendum (this “Addendum”) to a share purchase agreement dated 9 August 2017 is entered into on 26 September 2017 between:

 (1) Knutsen NYK Offshore Tankers AS, company registration no. 995 221 713 (the “Seller”); 

(2) KNOT Shuttle Tankers AS, company registration no. 998 942 829 (the “Buyer”). 

The Seller and the Buyer are hereinafter individually referred to as a “Party” and jointly the “Parties”. Terms defined in
the Agreement shall have the same meaning when used in this Addendum. 
 WHEREAS: 

 

	a)	The Parties have entered a share purchase agreement dated 9 August 2017 (the “Agreement”), pursuant to which the Seller has agreed to sell, and the Buyer has agreed to buy, all shares issued in
KNOT Shuttle Tankers 26 AS, company registration no. 914 021 251 (the “Company”) being the sole owner of the vessel MT “Lena Knutsen” having IMO No. 9782766 (the “Vessel”); 

 

	b)	Pursuant to the Agreement, Closing is to occur on 30 September 2017, unless otherwise agreed. As 30 September 2017 is not a Business Day, the Parties intend to complete Closing on the last Business Day of
September, namely 29 September 2017. 

  

	c)	Pursuant to the Agreement, the Purchase Price Adjustments are to reflect inter alia the Company’s working capital as of 23:59 on the Closing Date. 

 

	d)	Both from an accounting perspective and for commercial purposes it is preferable to calculate the working capital at month-end. 

 

	e)	For these reasons the Parties have agreed that the Purchase Price Adjustments shall include the working capital as of 30 September 2017 at 23:59 CET, despite Closing actually taking place on 29 September 2017.

  

	f)	The Parties now enter into this Addendum to reflect the above. 

  

	2	AMENDMENTS 

 Provided that Closing takes place on 29 September 2017, the Parties agree that Clause
5.4 a) (i) shall be deemed to read as follows; 
 “(i) the Company’s working capital as of 23:59 hours CET on 30 September
2017;” 

  
 1 

	3	CONTINUED FORCE AND EFFECT 

 Except as amended by this Addendum, the Agreement shall continue in full
force and effect, and the Agreement and this Addendum shall be read and construed as one instrument. 
  

							
	 Knutsen NYK Offshore Tankers AS
	 		 	KNOT Shuttle Tankers AS
				
		 	 /s/ Karl Gerhard Brâstein Dahl
	 		 	 /s/ Øystein Emberland

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