Document:

Exhibit 10.8

 

Amcor plc

 

[Name of Director]

 

Deed of Appointment

 

including your rights of indemnity and access

 

 

	
 
    	
 
    	
Contents
    
	
 
    	
 
    	
 
    
	
 
    	
Table of contents
    	
 
    
	
 
    	
 
    	
 
    
	
1
    	
Construction
    	
3
    
	
 
    	
 
    	
 
    
	
 
    	
1.1                 Definitions
    	
3
    
	
 
    	
1.2                 Interpretation
    	
4
    
	
 
    	
 
    	
 
    
	
2
    	
Conditions precedent
    	
5
    
	
 
    	
 
    	
 
    
	
3
    	
Indemnity
    	
5
    
	
 
    	
 
    	
 
    
	
 
    	
3.1                 Indemnity as a   member of the Board
    	
5
    
	
 
    	
3.2                 Limitations of   the indemnity
    	
5
    
	
 
    	
 
    	
 
    
	
4
    	
Board Documents
    	
6
    
	
 
    	
 
    	
 
    
	
 
    	
4.1                 Keeping of   Board Documents
    	
6
    
	
 
    	
4.2                 Access to the   Board Documents
    	
6
    
	
 
    	
4.3                 Ownership
    	
6
    
	
 
    	
4.4                 Return of Board   Documents
    	
6
    
	
 
    	
4.5                 Security of   Board Documents
    	
6
    
	
 
    	
 
    	
 
    
	
5
    	
Right to independent advice
    	
7
    
	
 
    	
 
    	
 
    
	
6
    	
Subrogation
    	
7
    
	
 
    	
 
    	
 
    
	
 
    	
6.1                 Rights of   subrogation
    	
7
    
	
 
    	
6.2                 Control of   Claims
    	
7
    
	
 
    	
6.3                 Exercise of   rights by Amcor
    	
8
    
	
 
    	
6.4                 Benefits   received by Amcor
    	
8
    
	
 
    	
6.5                 Your   obligations
    	
8
    
	
 
    	
6.6                 Circumstances   requiring you to expend your own money
    	
8
    
	
 
    	
6.7                 Notification of   Claims
    	
8
    
	
 
    	
 
    	
 
    
	
7
    	
Advances to Board Members
    	
9
    
	
 
    	
 
    	
 
    
	
 
    	
7.1                 Loan to cover   costs and expenses
    	
9
    
	
 
    	
7.2                 Effect of   limitation on ability to advance
    	
9
    
	
 
    	
7.3                 Repayment
    	
9
    
	
 
    	
 
    	
 
    
	
8
    	
Insurance
    	
9
    
	
 
    	
 
    	
 
    
	
 
    	
8.1                 Death and   Injury Policy
    	
9
    
	
 
    	
8.2                 D&O Policy
    	
9
    
	
 
    	
8.3                 Equality of   terms
    	
9
    
	
 
    	
8.4                 Contravention   of law
    	
9
    
	
 
    	
8.5                 Premiums
    	
10
    
	
 
    	
8.6                 Details of   policies
    	
10
    
	
 
    	
8.7                 Cancellation of   policies
    	
10
    
	
 
    	
 
    	
 
    
	
9
    	
Amcor Group
    	
10
    
	
 
    	
 
    	
 
    
	
 
    	
9.1                 Acceding Member
    	
10
    
	
 
    	
9.2                 Amcor guarantee
    	
10
    
	
 
    	
9.3                 Compliance by   you
    	
10
    
	
 
    	
 
    	
 
    
	
10
    	
Disclosure
    	
10
    
	
 
    	
 
    	
 
    
	
11
    	
Security trading
    	
10
    
	
 
    	
 
    	
 
    
	
 
    	
11.1          Restriction on dealing
    	
10
    

 

1

 

	
 
    	
 
    	
Contents
    
	
 
    	
 
    	
 
    
	
 
    	
11.2          Trading windows and   securities trading policy
    	
11
    
	
 
    	
11.3          Notification and   disclosure
    	
11
    
	
 
    	
 
    	
 
    
	
12
    	
Amcor’s general law rights
    	
11
    
	
 
    	
 
    	
 
    
	
13
    	
Document not to be interpreted against Amcor
    	
11
    
	
 
    	
 
    	
 
    
	
14
    	
Variation of document
    	
11
    
	
 
    	
 
    	
 
    
	
15
    	
Give effect to this document
    	
11
    
	
 
    	
 
    	
 
    
	
16
    	
Waiver of rights
    	
11
    
	
 
    	
 
    	
 
    
	
17
    	
Operation of this document
    	
12
    
	
 
    	
 
    	
 
    
	
18
    	
Notices
    	
12
    
	
 
    	
 
    	
 
    
	
19
    	
Applicable law and jurisdiction
    	
12
    

 

2

 

Parties

 

Amcor plc of 3rd Floor, 44 Esplanade, St Helier, Jersey JE4 9WG (Amcor)

[Name of Director] of [address] (you)

 

Background

 

In accordance with the power granted by its constitution, Amcor has agreed to indemnify you in accordance with the terms of this document and to provide you with access to material relevant to your role as a director of Amcor and/or its Subsidiary.

 

Agreed terms

 

1                                                  Construction

 

1.1                                        Definitions

 

Access Period means the period commencing on the date of your appointment until the later of:

 

(a)                                          7 years after you cease to be a member of the Board; and

 

(b)                                          the date on which all Claims, if any, commenced against you during that 7 year period are concluded.

 

Amcor Group means Amcor and each of its Subsidiaries, wherever incorporated in the world.

 

Board means the board of directors of Amcor.

 

Board Documents means:

 

(a)                                          all material prepared for or available to you or the Board during the course of your duties as a member of the Board, including board papers, submissions, minutes, memoranda, legal opinions, financial statements, subcommittee papers and documents tabled at a meeting of the Board or any subcommittee of the Board; and

 

(b)                                          any other documents which are referred to in that material.

 

Chair means the chair of the Board.

 

Claim means any claim, demand, suit, action, proceeding or cause of action commenced or threatened and arising out of the conduct of the business of Amcor or you being a member of the Board, including:

 

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(a)                                          threatened proceedings where there is a reasonable prospect of you being involved in such claim, demand, suit, action, proceeding or cause of action:

 

(b)                                          in contract (under any expressed or implied contract or for breach of representation or warranty);

 

(c)                                           in tort (including negligence, negligent statement or misrepresentations);

 

(d)                                          otherwise under common law or at equity;

 

(e)                                           under any form of restitutionary right;

 

(f)                                            under, or in respect of, statute or statutory obligations or duties;

 

(g)                                           in any case, whether in damages, or for declaratory, injunctive or other relief;

 

(h)                                          any criminal proceedings in which judgment is given in favour of you, or in which you are acquitted, or which are withdrawn before judgment;

 

(i)                                              all appeals or counterclaims in respect of any of the above or any judgment or award made in connection with any of the above; and

 

(j)                                             any governmental or statutory inquiry where the inquiry directly or indirectly relates to your acts or omissions as a Board member.

 

Constitution means Amcor’s articles of association in effect from time to time.

 

Death and Injury Policy means an insurance policy with a reputable insurance company for your benefit that is designed to insure you against the risk of accidental death or injury up to a maximum of USD$2,000,000.

 

D&O Policy means an insurance policy with a reputable insurance company for your benefit that is designed to insure you against liability for acts or omissions in your role as a director or officer of Amcor consistent with generally accepted insurance practices to the extent permitted by law.

 

Liability means any liability, costs, damages, fees, expenses, demands, suits, actions, proceedings or claims incurred by you in or arising out of the conduct of the business of Amcor or arising out of you being a member of the Board whether or not involving the payment or incurring of an expense.

 

Subsidiary has the meaning given in Article 2 of the Companies (Jersey) Law 1991.

 

1.2                                        Interpretation

 

In this document, unless the context or subject matter requires otherwise:

 

(a)                                          a reference to a party includes a reference to the party’s executors, administrators, successors and assigns as the case may be;

 

(b)                                          a reference to a gender includes reference to any other gender;

 

(c)                                           a reference to documents includes documents whether in hard copy form or stored or transmitted in electronic or other form;

 

(d)                                          the headings are for ease of reference only and do not in any way affect the construction of this document;

 

(e)                                           the singular includes the plural and vice versa; and

 

(f)                                            a reference to “include” or “including” means “including without limitation”.

 

4

 

2                                                  Conditions precedent

 

Substantial compliance with your material obligations under this document is a condition precedent to Amcor’s obligation to indemnify you in accordance with this document.

 

3                                                  Indemnity

 

3.1                                        Indemnity as a member of the Board

 

(a)                                          From the date of your commencement as a member of the Board (and despite you ceasing to be a member of the Board), Amcor indemnifies you against any Liability to the maximum extent permitted under any relevant law.

 

(b)                                          The indemnity in clause 3.1(a) includes, to the extent permitted by any relevant law, an indemnity against all legal costs incurred by you in connection with proceedings commenced, or which you reasonably believe may be commenced, against you in respect of a Claim.

 

3.2                                        Limitations of the indemnity

 

Notwithstanding clause 3.1, Amcor will not indemnify you against:

 

(a)                                          a Liability arising out of conduct attributable to a lack of good faith on your behalf;

 

(b)                                          a Liability you owe to an entity in the Amcor Group;

 

(c)                                           a Liability to the extent which to do so would contravene the Constitution;

 

(d)                                          defamation of you in your role as an officer of Amcor;

 

(e)                                           any Claim or circumstance where to do so would involve an entity in the Amcor Group being in a breach of law;

 

(f)                                            legal costs incurred in defending an action for a Liability incurred as a member of the Board if the costs are incurred:

 

(i)                                              in defending or resisting proceedings in which you are found to have a Liability for which you could not be indemnified under this clause 3.2;

 

(ii)                                           in defending or resisting criminal proceedings in which you are found guilty;

 

(iii)                                        in defending or resisting proceedings brought by the securities regulator or any jurisdiction or a liquidator or a court order if the grounds for making the order are found by the court to have been established;

 

(iv)                                       in defending or resisting proceedings brought by an entity in the Amcor Group; or

 

(v)                                          in connection with proceedings for relief under the securities laws or regulations of any jurisdiction in which the court denies the relief; and

 

(g)                                           a Liability for which and to the extent you have otherwise received or are entitled to receive payment for such amounts under any insurance policy, contract, agreement or otherwise.

 

5

 

4                                                  Board Documents

 

4.1                                        Keeping of Board Documents

 

Amcor must ensure that during the Access Period a complete set of the Board Documents is maintained in chronological order, in accordance with the terms of this document in a secure and convenient place.

 

4.2                                        Access to the Board Documents

 

If reasonably requested to do so, Amcor must ensure that you are provided with access to those Board Documents you require:

 

(a)                                          to enable you to carry out your duties as a member of the Board;

 

(b)                                          to obtain legal advice concerning a Claim;

 

(c)                                           for the purpose of defending a Claim; or

 

(d)                                          in connection with your appearance concerning Claims.

 

Amcor must provide you with copies of the Board Documents if you request that Amcor do so.

 

The rights granted to you by this clause 4.2 can be satisfied by Amcor providing you with copies of such Board Documents except where you have demonstrated a reasonable need for you to be provided with original documents.

 

4.3                                        Ownership

 

Ownership of the Board Documents remains with Amcor. Amcor may recall any Board Documents or copies given to you at any time.

 

4.4                                        Return of Board Documents

 

When requested by Amcor to do so, you will as soon as practicable return any Board Documents in your possession or control to Amcor.

 

4.5                                        Security of Board Documents

 

You must keep all Board Documents and copies in your possession in a secure place and ensure that they remain confidential and not disclosed to any third party other than:

 

(a)                                          if Amcor has given its prior written consent:

 

(b)                                          as required by law;

 

(c)                                           if the disclosure is made for the purpose of obtaining professional advice; or

 

(d)                                          the disclosure is made for the purpose of defending, appealing, commencing or settling a Claim, and you have otherwise used your best endeavours to maintain the confidentiality of the Board Documents.

 

If you become entitled to disclose Board Documents you must notify Amcor of the intended disclosure and take all steps reasonably requested by Amcor to avoid waiving any legal professional privilege attaching to Board Documents.

 

6

 

5                                                  Right to independent advice

 

During your tenure as director you are entitled to seek independent professional advice (including legal, accounting and financial advice) at Amcor’s cost (subject to the Chair prescribing a reasonable limit on such costs) on any matter connected with the discharge of your responsibilities as a director, including reasonable costs incurred by you in obtaining independent legal advice relating to this document, in accordance with the procedures and subject to the conditions set out below:

 

(a)                                          you must seek the prior approval of the Chair (which may not be unreasonably withheld) or, if you are the Chair, then no approval is required;

 

(b)                                          in seeking the prior approval of the Chair, you must provide details of the:

 

(i)                                              nature of the independent professional advice;

 

(ii)                                           likely cost of seeking the independent professional advice; and

 

(iii)                                        independent adviser you propose to instruct;

 

(c)                                           all documents containing or seeking independent professional advice must clearly state that the advice is sought both in relation to Amcor and to you in your personal capacity. However, the right to advice does not extend to advice concerning matters of a personal or private nature, including any dispute between you and Amcor; and

 

(d)                                          the Chair may circulate any independent professional advice received by you to the remainder of the Board provided that such circulation will not constitute a waiver of privilege.

 

6                                                  Subrogation

 

6.1                                        Rights of subrogation

 

(a)                                          If you are entitled to be indemnified under this document in respect of a Liability, Amcor or any person claiming through Amcor is entitled to be subrogated to all your rights and remedies relating to the circumstances in which the Liability arose.

 

(b)                                          Amcor indemnifies you against any costs awarded against you in any Claim brought by Amcor in the exercise of its right of subrogation.

 

6.2                                        Control of Claims

 

(a)                                          Amcor may:

 

(i)                                              give you directions in relation to; or

 

(ii)                                           take over the conduct of;

 

a Claim in respect of which you are entitled to be indemnified under this document.

 

(b)                                          Amcor may exercise its rights in this clause 6.2:

 

(i)                                              in your name; or

 

(ii)                                           in its own name.

 

7

 

6.3                                        Exercise of rights by Amcor

 

(a)                                          Amcor must exercise its rights:

 

(i)                                              reasonably; and

 

(ii)                                           solely for the purpose of protecting its interests in relation to the indemnity.

 

(b)                                          Before Amcor may settle a Claim made against you or make any admission of liability on your behalf, it must obtain your consent (which must not be unreasonably withheld).

 

6.4                                        Benefits received by Amcor

 

(a)                                          Amcor must account to you for any benefit it obtains as a result of the exercise of any of its rights under this document to the extent the benefit exceeds the cost of providing the indemnity and exercising those rights.

 

(b)                                          If Amcor is not subrogated under clause 6, you must account to Amcor for any damages recovered by you (to a maximum amount equal to the indemnity payment made to you under clause 3).

 

6.5                                        Your obligations

 

You must:

 

(a)                                          act in accordance with the Constitution;

 

(b)                                          notify Amcor as soon as reasonably practicable after you become aware of the circumstances of any Claim or circumstance which could reasonably be expected to give rise to a Claim;

 

(c)                                           not make any admissions in respect of, or settle, any Claim against you in respect of which you are seeking indemnity or may in the future seek indemnity under this document without Amcor’s prior written consent;

 

(d)                                          provide such information as Amcor reasonably requests and give to Amcor all necessary and reasonable assistance as Amcor needs to give you directions or to take over the conduct of Claims; and

 

(e)                                           do everything reasonable and necessary to enable Amcor to exercise its rights of subrogation and to control Claims in your name as Amcor thinks fit.

 

6.6                                        Circumstances requiring you to expend your own money

 

(a)                                          You are not required to expend your own money to comply with a direction from Amcor under this document (including under clauses 6.2 and 6.5) unless Amcor agrees to reimburse you for those expenses.

 

(b)                                          You are not required to make any payment before enforcing your rights under this document.

 

6.7                                        Notification of Claims

 

Amcor must notify you of any Claims relating to your performance as a director of Amcor or another member of the Amcor Group of which it receives notification or of which it becomes aware.

 

8

 

7                                                  Advances to Board Members

 

7.1                                        Loan to cover costs and expenses

 

Subject to clause 7.2, Amcor may lend funds to you to meet your reasonable expenses (including legal costs) incurred in connection with defending or resisting Claims before the outcome of those Claims is known. The loan will be on such reasonable terms as Amcor thinks fit, including terms relating to interest, repayment, security for the advance and conduct of the Claims.

 

7.2                                        Effect of limitation on ability to advance

 

If Amcor:

 

(a)                                          is not permitted to indemnify you in respect of the expenses referred to in clause 7.1, then within 28 days after receipt of a written request from Amcor you must repay all funds lent to you under clause 7.1; or

 

(b)                                          is permitted to indemnify you in respect of the expenses referred to in clause 7.1, the amount lent must be set-off from the amount that Amcor is required to pay to you under the indemnity given by this document.

 

7.3                                        Repayment

 

You must immediately repay in part or in full as appropriate any amount paid to you in accordance with this clause 7 if you receive money under the D&O Policy in respect of the matters the subject of the loan under clause 7.1.

 

8                                                  Insurance

 

8.1                                        Death and Injury Policy

 

Whilst you are a member of the Board, Amcor must maintain a Death and Injury Policy.

 

8.2                                        D&O Policy

 

During the Access Period Amcor must, to the extent that such a policy is reasonably available on reasonable commercial terms, maintain a D&O Policy in respect of each Amcor Group company of which you are a director.

 

8.3                                        Equality of terms

 

If you have ceased to be a member of the Board, Amcor must use its best endeavours to ensure that the D&O Policy is not materially less favourable to you than the terms of cover operating in relation to current directors, provided that such insurance is obtainable on reasonable commercial terms.

 

8.4                                        Contravention of law

 

Amcor is not obliged to maintain the contract of insurance referred to in this clause 8 where to do so would contravene any law, provided that Amcor gives you notice of its intention to terminate that policy.

 

9

 

8.5                                        Premiums

 

To the extent that any portion of the premium for any contract of insurance referred to in this clause 8 must not be paid by an entity in the Amcor Group under law, Amcor must give you notice of, and a reasonable opportunity to contribute to, that part of the additional premium which it is unable to pay (if required for the policy to be effective).

 

8.6                                        Details of policies

 

Amcor must provide you with a copy of each certificate of currency in respect of any contract of insurance referred to in this clause 8. Amcor will also provide you with copies of the policies relevant to those certificates of currency.

 

8.7                                        Cancellation of policies

 

Amcor must notify you in writing if the D&O Policy in respect of an Amcor Group company of which you are a director is cancelled or not renewed.

 

9                                                  Amcor Group

 

9.1                                        Acceding Member

 

(a)                                          Amcor must use its best endeavours to ensure that any entity in the Amcor Group of which you are an officer accedes to the terms of this document by notice in writing delivered to the Amcor Board (Acceding Member).

 

(b)                                          Upon an Acceding Member acceding to this document, references in this document to Amcor are to be taken to be a reference to that Acceding Member.

 

9.2                                        Amcor guarantee

 

Amcor will guarantee all of the obligations of an Acceding Member under this document.

 

9.3                                        Compliance by you

 

If you substantially comply with your obligations under this document by obeying instructions from, giving notice to or otherwise dealing with Amcor in the manner set out in this document, you are taken to have complied with your obligations under this document.

 

10                                           Disclosure

 

Full particulars of the indemnities and insurances that are required under this document may be included in Amcor’s directors’ and officers’ interests register and may be included in Amcor’s annual report and in regulatory filings filed by Amcor.

 

11                                           Security trading

 

11.1                                 Restriction on dealing

 

While you are an officer of Amcor neither you nor any entity or person affiliated with you may buy, sell or deal in any securities of Amcor (or the Amcor Group), including

 

10

 

derivatives, options and rights in respect of securities other than in accordance with Amcor’s share trading policy from time to time (which Amcor will make available to you on request).

 

11.2                                 Trading windows and securities trading policy

 

During the period you are an officer of Amcor you must remain aware of Amcor’s share trading policy and ensure you and any entity or person affiliated with you complies with the letter and spirit of that policy.

 

11.3                                 Notification and disclosure

 

You must keep Amcor’s Company Secretary informed of all holdings and dealings by you and any entity or person affiliated with you in securities of Amcor (or the Amcor Group) from time to time, including derivatives, options and rights in respect of securities. Amcor may make any information provided to it under this clause 11.3 public.

 

12                                           Amcor’s general law rights

 

Amcor’s rights in this document are in addition to its rights under the general law (including rights under the general law that relate to matters dealt with by this document).

 

13                                           Document not to be interpreted against Amcor

 

The principle of interpretation known as contra proferentem does not apply to the interpretation of this document.

 

14                                           Variation of document

 

Amcor may, with reasonable written notice to you and by deed, vary the indemnity under this document provided that such variation does not:

 

(a)                                          impose any new obligations or liabilities on you; or

 

(b)                                          adversely affect your right to be indemnified in accordance with this document in respect of a liability arising from an act or omission or event occurring before such variation.

 

15                                           Give effect to this document

 

Each party must do anything (including execute any document) and must ensure that its employees and agents do anything (including execute any document) that the other party may reasonably require to give full effect to this document.

 

16                                           Waiver of rights

 

A right may only be waived in writing, signed by the party giving the waiver, and:

 

(a)                                          no other conduct of a party (including a failure to exercise, or delay in exercising the right) operates as a waiver of right or otherwise prevents the exercise of the right;

 

11

 

(b)                                          a waiver of a right on one or more occasions does not operate as a waiver of that right if it arises again; and

 

(c)                                           the exercise of a right does not prevent any further exercise of that right or of any other right.

 

17                                           Operation of this document

 

(a)                                          Any right that a person may have under this document is in addition to, and does not replace or limit, any other right that the person has.

 

(b)                                          Any provision of this document which is unenforceable or partly unenforceable is, where possible, to be severed to the extent necessary to make this document enforceable, unless this would materially change the intended effect of the document.

 

18                                           Notices

 

A notice, consent or other communication under this document is only effective if it is in writing, signed and either left at the addressee’s address or sent to the addressee by e-mail, mail or fax. If it is sent by mail, it is taken to have been received on the 10th working day after it is posted. If it is sent by e-mail or fax, it is taken to have been received when the sender’s fax machine or computer indicates that the message was sent in full.

 

19                                           Applicable law and jurisdiction

 

(a)                                          The laws in force in the Bailiwick of Jersey, govern this document and all matters relating to it.

 

(b)                                          Both parties submit to the non-exclusive jurisdiction of the courts exercising jurisdiction there.

 

12

 

	
 
    	
Executed as a deed.
    
	
 
    	
 
    
	
 
    	
This .......................... day   of ................................. 20..
    
	
 
    	
 
    	
 
    
	
 
    	
Executed   by Amcor plc
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Director
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Name of Director   (print)
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Signed,   Sealed and Delivered as a deed by
    [Name of Director] in the presence   of:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Witness signature
    	
 
    	
[Name]
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Name of Witness   (print)
    	
 
    	
 
    

 

13KALA_Ex10_3

		
			Exhibit 10.3
		

		
			KALA PHARMACEUTICALS, INC.
		

		
			AMENDED AND RESTATED 2017 EMPLOYEE STOCK PURCHASE PLAN
		

		
			The purpose of this Amended and Restated 2017 Employee Stock Purchase Plan (this “Plan”)  is to provide eligible employees of Kala Pharmaceuticals, Inc. (the “Company”) and certain of its subsidiaries with opportunities to purchase shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”), commencing at such time and on such dates as the Board of Directors of the Company (the “Board”) shall determine.  Subject to adjustment under Section 15 hereof, the number of shares of Common Stock that have been approved for this purpose is the sum of:
		

		
			(a)        1,163,227 shares of Common Stock; plus
		

		
			(b)        an annual increase to be added on the first day of each fiscal year, commencing on January 1, 2019 and ending on December 31, 2029, equal to the least of (i) 4,653,311 shares of Common Stock, (ii) 1% of the outstanding shares on such date and (iii) an amount determined by the Board.
		

		
			This Plan is intended to qualify as an “employee stock purchase plan” as defined in Section 423 of the Internal Revenue Code of 1986, as amended (the “Code”), and the regulations issued thereunder, and shall be interpreted consistent therewith.
		

		
			1.         Administration.  The Plan will be administered by the Board or by a Committee appointed by the Board (the “Committee”).  The Board or the Committee has authority to make rules and regulations for the administration of the Plan and its interpretation and decisions with regard thereto shall be final and conclusive.
		

		
			2.         Eligibility.  All employees of the Company and all employees of any subsidiary of the Company (as defined in Section 424(f) of the Code) designated by the Board or the Committee from time to time (a “Designated Subsidiary”), are eligible to participate in any one or more of the offerings of Options (as defined in Section 9) to purchase Common Stock under the Plan provided that:
		

		
			(a)        they are customarily employed by the Company or a Designated Subsidiary for more than 20 hours a week and for more than five months in a calendar year; and
		

		
			(b)        they are employees of the Company or a Designated Subsidiary on the first day of the applicable Plan Period (as defined below).
		

		
			No employee may be granted an Option hereunder if such employee, immediately after the Option is granted, owns 5% or more of the total combined voting power or value of the stock of the Company or any subsidiary.  For purposes of the preceding sentence, the attribution rules of Section 424(d) of the Code shall apply in determining the stock ownership of an employee, and all stock that the employee has a contractual right to purchase shall be treated as stock owned by the employee.
		

		
			
		

		
			

		 

 

		

		
			The Company retains the discretion to determine which eligible employees may participate in an offering pursuant to and consistent with Treasury Regulation Sections 1.423-2(e) and (f).
		

		
			3.         Offerings.  The Company will make one or more offerings (“Offerings”) to employees to purchase stock under this Plan.  Offerings will begin at such time and on such dates as the Board shall determine, or the first business day thereafter (such dates, the “Offering Commencement Dates”).  Each Offering Commencement Date will begin a six (6) month period (a “Plan Period”) during which payroll deductions will be made and held for the purchase of Common Stock at the end of the Plan Period.  The Board or the Committee may, at its discretion, choose a different Plan Period of not more than twelve (12) months for Offerings.
		

		
			4.         Participation.  An employee eligible on the Offering Commencement Date of any Offering may participate in such Offering by completing and forwarding either a written or electronic payroll deduction authorization form to the employee’s appropriate payroll office at least 15 days prior to the applicable Offering Commencement Date.  The form will authorize a regular payroll deduction from the Compensation received by the employee during the Plan Period.  Unless an employee files a new form or withdraws from the Plan, his or her deductions and purchases will continue at the same rate for future Offerings under the Plan as long as the Plan remains in effect.  The term “Compensation” means the amount of money reportable on the employee’s Federal Income Tax Withholding Statement, including or excluding, as determined in the discretion of the Committee with respect to each Plan Period: overtime, shift premium, incentive or bonus awards, allowances and reimbursements for expenses such as relocation allowances for travel expenses, income or gains associated with the grant or vesting of restricted stock, income or gains on the exercise of Company stock options or stock appreciation rights, and similar items, whether or not shown or separately identified on the employee’s Federal Income Tax Withholding Statement, but including, in the case of salespersons, sales commissions to the extent determined by the Board or the Committee; provided, that in all cases, a uniform method of determining Compensation must be used for all participants in any particular Plan Period.
		

		
			5.         Deductions.  The Company will maintain payroll deduction accounts for all participating employees.  With respect to any Offering made under this Plan, an employee may authorize a payroll deduction in any percentage amount (in whole percentages) up to a maximum of 15% of the Compensation he or she receives during the Plan Period or such shorter period during which deductions from payroll are made.  The Board or the Committee may, at its discretion, designate a lower maximum contribution rate.  The minimum payroll deduction is such percentage of Compensation as may be established from time to time by the Board or the Committee.
		

		
			6.         Deduction Changes.  An employee may decrease or discontinue his or her payroll deduction once during any Plan Period, by filing either a written or electronic new payroll deduction authorization form.  However, an employee may not increase his or her payroll deduction during a Plan Period.  If an employee elects to discontinue his or her payroll deductions during a Plan Period, but does not elect to withdraw his or her funds pursuant to Section 8 hereof, funds deducted prior to his or her election to discontinue will be applied to the purchase of Common Stock on the Exercise Date (as defined below).
		

		
			
		

		
			

		 

		

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			7.         Interest.  Interest will not be paid on any employee accounts, except to the extent that the Board or the Committee, in its sole discretion, elects to credit employee accounts with interest at such rate as it may from time to time determine.
		

		
			8.         Withdrawal of Funds.  An employee may at any time prior to the close of business on the fifteenth business day prior to the end of a Plan Period and for any reason permanently draw out the balance accumulated in the employee’s account and thereby withdraw from participation in an Offering.  Partial withdrawals are not permitted.  The employee may not begin participation again during the remainder of the Plan Period during which the employee withdrew his or her balance.  The employee may participate in any subsequent Offering in accordance with terms and conditions established by the Board or the Committee.
		

		
			9.         Purchase of Shares.
		

		
			(a)        Number of Shares.  On the Offering Commencement Date, the Company will grant to each eligible employee who is then a participant in the Plan an option (an “Option”) to purchase on the last business day of such Plan Period (the “Exercise Date”) at the applicable purchase price (the “Option Price”) up to 25,000 shares of Common Stock; provided, however, that no employee may be granted an Option which permits his or her rights to purchase Common Stock under this Plan and any other employee stock purchase plan (as defined in Section 423(b) of the Code) of the Company and its subsidiaries, to accrue at a rate which exceeds $25,000 of the fair market value of such Common Stock (determined at the date such Option is granted) for each calendar year in which the Option is outstanding at any time; and, provided, further, however, that the Committee may, in its discretion, set a different fixed maximum number of shares of Common Stock that each eligible employee may purchase per Plan Period which number shall be subject to the second clause of this Section 9(a).
		

		
			(b)        Option Price.  The Board or the Committee shall determine the Option Price for each Plan Period, including whether such Option Price shall be determined based on the lesser of the closing price of the Common Stock on (i) the first business day of the Plan Period or (ii) the Exercise Date, or shall be based solely on the closing price of the Common Stock on the Exercise Date; provided, however, that such Option Price shall be at least 85% of the applicable closing price.  In the absence of a determination by the Board or the Committee, the Option Price will be 85% of the lesser of the closing price of the Common Stock on (i) the first business day of the Plan Period or (ii) the Exercise Date.  The closing price shall be (a) the closing price (for the primary trading session) on any national securities exchange on which the Common Stock is listed or (b) the average of the closing bid and asked prices in the over-the-counter-market, whichever is applicable, as published in The Wall Street Journal or another source selected by the Board or the Committee.  If no sales of Common Stock were made on such a day, the price of the Common Stock shall be the reported price for the next preceding day on which sales were made.
		

		
			(c)        Exercise of Option.  Each employee who continues to be a participant in the Plan on the Exercise Date shall be deemed to have exercised his or her Option at the Option Price on such date and shall be deemed to have purchased from the Company the number of whole shares of Common Stock reserved for the purpose of the Plan that his or her accumulated
		

		
			
		

		
			

		 

		

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			payroll deductions on such date will pay for, but not in excess of the maximum numbers determined in the manner set forth above.
		

		
			(d)        Return of Unused Payroll Deductions.  Any balance remaining in an employee’s payroll deduction account at the end of a Plan Period will be automatically refunded to the employee.
		

		
			10.       Issuance of Certificates.  Certificates representing shares of Common Stock purchased under the Plan may be issued only in the name of the employee, in the name of the employee and another person of legal age as joint tenants with rights of survivorship, or (in the Company’s sole discretion) in the name of a brokerage firm, bank, or other nominee holder designated by the employee.  The Company may, in its sole discretion and in compliance with applicable laws, authorize the use of book entry registration of shares in lieu of issuing stock certificates.
		

		
			11.       Rights on Retirement, Death or Termination of Employment.  If a participating employee's employment ends before the last business day of a Plan Period, no payroll deduction shall be taken from any pay then due and owing to the employee and the balance in the employee’s account shall be paid to the employee.  In the event of the employee’s death before the last business day of a Plan Period, the Company shall, upon notification of such death, pay the balance of the employee’s account (a) to the executor or administrator of the employee’s estate or (b) if no such executor or administrator has been appointed to the knowledge of the Company, to such other person(s) as the Company may, in its discretion, designate.  If, before the last business day of the Plan Period, the Designated Subsidiary by which an employee is employed ceases to be a subsidiary of the Company, or if the employee is transferred to a subsidiary of the Company that is not a Designated Subsidiary, the employee shall be deemed to have terminated employment for the purposes of this Plan.
		

		
			12.       Optionees Not Stockholders.  Neither the granting of an Option to an employee nor the deductions from his or her pay shall make such employee a stockholder of the shares of Common Stock covered by an Option under this Plan until he or she has purchased and received such shares.
		

		
			13.       Options Not Transferable.  Options under this Plan are not transferable by a participating employee other than by will or the laws of descent and distribution, and are exercisable during the employee’s lifetime only by the employee.
		

		
			14.       Application of Funds.  All funds received or held by the Company under this Plan may be combined with other corporate funds and may be used for any corporate purpose.
		

		
			15.       Adjustment for Changes in Common Stock and Certain Other Events.
		

		
			(a)        Changes in Capitalization.  In the event of any stock split, reverse stock split, stock dividend, recapitalization, combination of shares, reclassification of shares, spin-off or other similar change in capitalization or event, or any dividend or distribution to holders of Common Stock other than an ordinary cash dividend, (i) the number and class of securities available under this Plan, (ii) the share limitations set forth in Section 9, and (iii) the Option Price shall be equitably adjusted to the extent determined by the Board or the Committee.
		

		
			
		

		
			

		 

		

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			(b)        Reorganization Events.
		

		
			(1)        Definition.  A “Reorganization Event” shall mean: (a) any merger or consolidation of the Company with or into another entity as a result of which all of the Common Stock of the Company is converted into or exchanged for the right to receive cash, securities or other property or is cancelled, (b) any transfer or disposition of all of the Common Stock of the Company for cash, securities or other property pursuant to a share exchange or other transaction or (c) any liquidation or dissolution of the Company.
		

		
			(2)        Consequences of a Reorganization Event on Options.  In connection with a Reorganization Event, the Board or the Committee may take any one or more of the following actions as to outstanding Options on such terms as the Board or the Committee determines:  (i) provide that Options shall be assumed, or substantially equivalent Options shall be substituted, by the acquiring or succeeding corporation (or an affiliate thereof), (ii) upon written notice to employees, provide that all outstanding Options will be terminated immediately prior to the consummation of such Reorganization Event and that all such outstanding Options will become exercisable to the extent of accumulated payroll deductions as of a date specified by the Board or the Committee in such notice, which date shall not be less than ten (10) days preceding the effective date of the Reorganization Event, (iii) upon written notice to employees, provide that all outstanding Options will be cancelled as of a date prior to the effective date of the Reorganization Event and that all accumulated payroll deductions will be returned to participating employees on such date, (iv) in the event of a Reorganization Event under the terms of which holders of Common Stock will receive upon consummation thereof a cash payment for each share surrendered in the Reorganization Event (the “Acquisition Price”), change the last day of the Plan Period to be the date of the consummation of the Reorganization Event and make or provide for a cash payment to each employee equal to (A) (1) the Acquisition Price times (2) the number of shares of Common Stock that the employee’s accumulated payroll deductions as of immediately prior to the Reorganization Event could purchase at the Option Price, where the Acquisition Price is treated as the fair market value of the Common Stock on the last day of the applicable Plan Period for purposes of determining the Option Price under Section 9(b) hereof, and where the number of shares that could be purchased is subject to the limitations set forth in Section 9(a), minus (B) the result of multiplying such number of shares by such Option Price, (v) provide that, in connection with a liquidation or dissolution of the Company, Options shall convert into the right to receive liquidation proceeds (net of the Option Price thereof) and (vi) any combination of the foregoing.
		

		
			For purposes of clause (i) above, an Option shall be considered assumed if, following consummation of the Reorganization Event, the Option confers the right to purchase, for each share of Common Stock subject to the Option immediately prior to the consummation of the Reorganization Event, the consideration (whether cash, securities or other property) received as a result of the Reorganization Event by holders of Common Stock for each share of Common Stock held immediately prior to the consummation of the Reorganization Event (and if holders were offered a choice of consideration, the type of consideration chosen by the holders of a majority of the outstanding shares of Common Stock); provided, however, that if the consideration received as a result of the Reorganization Event is not solely common stock of the acquiring or succeeding corporation (or an affiliate thereof), the Company may, with the consent of the acquiring or succeeding corporation, provide for the consideration to be received upon the
		

		
			
		

		
			

		 

		

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			exercise of Options to consist solely of such number of shares of common stock of the acquiring or succeeding corporation (or an affiliate thereof) that the Board determines to be equivalent in value (as of the date of such determination or another date specified by the Board) to the per share consideration received by holders of outstanding shares of Common Stock as a result of the Reorganization Event.
		

		
			16.       Amendment of the Plan.  The Board may at any time, and from time to time, amend or suspend this Plan or any portion thereof, except that (a) if the approval of any such amendment by the shareholders of the Company is required by Section 423 of the Code, such amendment shall not be effected without such approval, and (b) in no event may any amendment be made that would cause the Plan to fail to comply with Section 423 of the Code.
		

		
			17.       Insufficient Shares.  If the total number of shares of Common Stock specified in elections to be purchased under any Offering plus the number of shares purchased under previous Offerings under this Plan exceeds the maximum number of shares issuable under this Plan, the Board or the Committee will allot the shares then available on a pro-rata basis.
		

		
			18.       Termination of the Plan.  This Plan may be terminated at any time by the Board.  Upon termination of this Plan all amounts in the accounts of participating employees shall be promptly refunded.
		

		
			19.       Governmental Regulations.  The Company’s obligation to sell and deliver Common Stock under this Plan is subject to listing on a national stock exchange (to the extent the Common Stock is then so listed or quoted) and the approval of all governmental authorities required in connection with the authorization, issuance or sale of such stock.
		

		
			20.       Governing Law.  The Plan shall be governed by Delaware law except to the extent that such law is preempted by federal law.
		

		
			21.       Issuance of Shares.  Shares may be issued upon exercise of an Option from authorized but unissued Common Stock, from shares held in the treasury of the Company, or from any other proper source.
		

		
			22.       Notification upon Sale of Shares.  Each employee agrees, by entering the Plan, to promptly give the Company notice of any disposition of shares purchased under the Plan where such disposition occurs within two years after the date of grant of the Option pursuant to which such shares were purchased.
		

		
			23.       Grants to Employees in Foreign Jurisdictions.  The Company may, to comply with the laws of a foreign jurisdiction, grant Options to employees of the Company or a Designated Subsidiary who are citizens or residents of such foreign jurisdiction (without regard to whether they are also citizens of the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) with terms that are less favorable (but not more favorable) than the terms of Options granted under the Plan to employees of the Company or a Designated Subsidiary who are resident in the United States.  Notwithstanding the preceding provisions of this Plan, employees of the Company or a Designated Subsidiary who are citizens or residents of a foreign jurisdiction (without regard to whether they are also citizens of the United States or resident aliens (within the meaning of Section 7701(b)(1)(A) of the Code)) may be excluded
		

		
			
		

		
			

		 

		

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			from eligibility under the Plan if (a) the grant of an Option under the Plan to a citizen or resident of the foreign jurisdiction is prohibited under the laws of such jurisdiction or (b) compliance with the laws of the foreign jurisdiction would cause the Plan to violate the requirements of Section 423 of the Code.  The Company may add one or more appendices to this Plan describing the operation of the Plan in those foreign jurisdictions in which employees are excluded from participation or granted less favorable Options.
		

		
			24.       Authorization of Sub-Plans.  The Board may from time to time establish one or more sub-plans under the Plan with respect to one or more Designated Subsidiaries, provided that such sub-plan complies with Section 423 of the Code.
		

		
			25.       Withholding.  If applicable tax laws impose a tax withholding obligation, each affected employee shall, no later than the date of the event creating the tax liability, make provision satisfactory to the Board for payment of any taxes required by law to be withheld in connection with any transaction related to Options granted to or shares acquired by such employee pursuant to the Plan.  The Company may, to the extent permitted by law, deduct any such taxes from any payment of any kind otherwise due to an employee.
		

		
			26.       Effective Date and Approval of Shareholders.  The Plan shall take effect as of the closing of the Company’s initial public offering subject to approval by the shareholders of the Company as required by Section 423 of the Code, which approval must occur within twelve months of the adoption of the Plan by the Board.
		

			
					
						 

					
					
						2017 Employee Stock Purchase Plan Adopted by the Board of Directors on 
July 1, 2017

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						2017 Employee Stock Purchase Plan Approved by the stockholders on 
July 5, 2017

				
	
					
						 

					
					
						 

				
	
					
						 

					
					
						Amended and Restated Employee Stock Purchase Plan Adopted by the Board of Directors on 
December 3, 2018

				

		
			 
		

		
			 
		

		 

		

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