Document:

Exhibit 10.10

 

COMMON STOCK PURCHASE AGREEMENT

 

Private and Confidential

 

THIS COMMON STOCK PURCHASE
AGREEMENT, (the “Agreement”) made as of the last executed date below (the “Effective Date”), by and between
the buyer set forth on the signature page hereof (hereinafter referred to as “Buyer”), and the seller set forth on the signature
page hereof (hereinafter referred to as “Seller”) (Buyer and Seller each a “Party” and collectively the “Parties”).

 

W I T N E S S E T H:

 

WHEREAS, Seller is
the holder of all of the shares of common stock (the “Shares”) of Chuck’s Vintage, Inc., a California corporation (the
“Company”) and Seller hereby agrees to sell to the Buyer the Shares pursuant to the terms and conditions set forth herein;
and

 

WHEREAS, the Buyer
is the holder of 100,000 shares of the Company’s common stock, which represents all of the Company’s issued and outstanding
shares as of the date hereof and Buyer is desirous of purchasing Seller’s Shares and the Seller is agreeable to sell the Shares
to the Buyer pursuant to and in accordance with the terms and conditions set forth herein.

 

NOW, THEREFORE, in
consideration of the mutual promises, covenants, and representations contained herein, and subject to the terms and conditions hereof,
the Parties agree as follows:

 

1.       Agreement
to Purchase and Sell; Closing. Seller will sell to Buyer and Buyer agrees to purchase the Shares in consideration for the assumption
of the liabilities set forth in Section A hereto (the “Assumed Liabilities”). For purposes of this Agreement, the Closing
shall occur upon the Effective Date.

 

2.       Payment
Terms. At the Closing, the Seller shall deliver the certificate(s) representing the Shares along with fully executed and medallion
guaranteed or notarized stock powers and such other documentation as may be necessary to completely effectuate the transfer of the Shares
to the Buyer pursuant to this Agreement. In Consideration for the transferrable delay of the shares, the Buyer shall assume the Assumed
Liabilities of the Seller.

 

3.                 
Representations and Warranties of Seller. Seller hereby represents and warrants to Buyer that the statements in the following paragraphs
of this Section 3 are all true and complete as of the date hereof, and shall be true and correct as of the Closing:

 

a)                 
Title to Stock. The Seller is the sole record and beneficial owner of the Shares and has good, valid and marketable title to
all of the Shares, free and clear of any liens, claims, charges, options, rights of tenants or other encumbrances and shall not, until
the transactions contemplated by this Agreement are closed, or this Agreement is terminated, sell, hypothecate, encumber, transfer or
otherwise dispose of the Shares. The Seller has sole managerial and dispositive authority with respect to the Shares and has not granted
any person a proxy or option to buy the Shares that has not expired or been validly withdrawn. The Shares were the payment of the Purchase
Price and delivery of the certificates representing the Shares will vest in Buyer the legal and valid title to the Shares, free and clear
of all liens, security interests, adverse claims or other encumbrances of any character whatsoever (“Encumbrances”) (other
than Encumbrances created by Buyer and restrictions on the resale of the Shares under applicable securities laws).

 

b)                 
Transfer of Shares. Seller acknowledges that he has all right, title and interest to the shares but did not undertake the ministerial
task of having the certificates reprinted in his name prior to the sale of the shares contemplated in this Agreement.

 

c)                 
Full Power and Authority. Seller has the legal capacity to own the Shares owned or purported to be owned by Seller. The execution
and delivery by Seller of this Agreement and the consummation by Seller of the transactions contemplated hereby has been duly and validly
authorized by all necessary action of Seller. Seller has the legal capacity to enter into this Agreement and to consummate the transactions
contemplated hereby and Seller has duly executed and delivered this Agreement. This Agreement is a legal, valid and binding obligation
of Seller enforceable against Seller in accordance with its terms, except to the extent that enforceability may be limited by bankruptcy,
insolvency, moratorium, reorganization and other laws affecting the enforcement of creditors' rights generally and by general principles
of equity.

 

 

 

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4.                 
Representations and Warranties of Buyer. Buyer hereby represents and warrants to Seller that the statements in the following paragraphs
of this Section 4 are all true and complete as of the date hereof:

 

a)                 
Exempt Transaction.Buyer understands that the sale of the Shares is intended to be exempt from registration under the Securities
Act and exempt from registration or qualification under any state law.

 

b)                 
Full Power and Authority. Buyer has the legal capacity to purchase the Shares. The execution and delivery by Buyer of this Agreement
and the consummation by Buyer of the transactions contemplated hereby has been duly and validly authorized by all necessary action of
Buyer. Buyer has the legal capacity to enter into this Agreement and to consummate the transactions contemplated hereby and Buyer has
duly executed and delivered this Agreement. This Agreement is a legal, valid and binding obligation of Buyer enforceable against Buyer
in accordance with its terms, except to the extent that enforceability may be limited by bankruptcy, insolvency, moratorium, reorganization
and other laws affecting the enforcement of creditors' rights generally and by general principles of equity.

 

c)                 
Status. Buyer is experienced, sophisticated and knowledgeable in the trading in securities of private and public companies and
understand the disadvantage to which Buyer is subject on account of the disparity of information as between Seller and Buyer. Buyer understands
that Seller is relying on these representations in engaging in this transaction and would not engage in the transaction in the absence
of these representations.

 

5.                 
Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of New York without giving
effect to any other choice or conflict of law provision that would cause the application of the laws of any other jurisdiction other than
the State of New York.

 

6.                 
Termination. The Parties may not, except for a material breach or failure of a condition or requirement, terminate this Agreement.

 

7.                 
Successors and Assigns. The terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective
successors and assigns of the Parties.

 

8.                 
Counterparts.This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same Agreement. A telefaxed or electronic copy of this Agreement shall be deemed an original.

 

9.                 
Headings. The headings used in this Agreement are for convenience of reference only and shall not be deemed to limit, characterize
or in any way affect the interpretation of any provision of this Agreement.

 

10.             
Costs, Expenses. Each Party hereto shall bear its own costs in connection with the preparation, execution and delivery of this
Agreement.

 

11.             
Modifications and Waivers. No change, modification or waiver of any provision of this Agreement shall be valid or binding unless
it is in writing, dated subsequent to the Effective Date of this Agreement, and signed by all Parties. No waiver of any breach, term,
condition or remedy of this Agreement by any Party shall constitute a subsequent waiver of any other breach, term, condition or remedy.
All remedies, either under this Agreement, by law, or otherwise afforded the Parties shall be cumulative and not alternative.

 

12.             
Severability.If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision(s)
shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision(s) were so excluded and
shall be enforceable in accordance with its terms.

 

13.             
Entire Agreement.This Agreement constitutes the entire agreement and understanding of the Parties with respect to the subject
matter hereof and supersedes any and all prior negotiations, correspondence, agreements, understandings duties or obligations between
the Parties with respect to the subject matter hereof.

 

 

 

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14.             
Further Assurances. From and after the date of this Agreement, upon the request of any Party, the Parties shall execute and deliver
such instruments, documents or other writings as may be reasonably necessary or desirable to confirm and carry out and to effectuate fully
the intent and purposes of this Agreement.

 

15.             
Term. This Agreement is effective from the Effective Date hereof, and shall remain in effect until all the rights and obligations
of the Parties hereto have been fully performed.

 

16.             
No Oral Representations.No oral or written representations have been made other than or in addition to those stated in this
Agreement as of the date of Closing. The Parties are not relying on any oral statements made by any other Party, their representatives
or affiliates regarding this Agreement.

 

 

[signature page to follow.]

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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IN WITNESS
WHEREOF, the parties hereto have executed this Agreement as of the date last written below.

 

SELLER:

 

WE WORK IRREVOCABLE TRUST

 

 

 

By: /s/ Mark Pierce

Mark Pierce, Trustee

 

Date: November 1, 2021

 

BUYER:

 

GREEN STREAM HOLDINGS, INC.

 

 

 

By: /s/ James C. DiPrima                         

Name: James C. DiPrima

Title: Chief Executive Officer

 

 

Date: November 1, 2021

 

 

 

 

 

 

 

 

 

 

 

 

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SCHEDULE A

 

ASSUMED LIABILITIES 

 

 

Accounts Payable

	 	Inventory:	$5,020
	 	Rent:	$13,000
	 	Utilities	$3,010

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    	 	5EX-10.1

 Exhibit 10.1 
  

 
 November 23, 2020 
 Kim
M. Smith-Whitley, MD 
 Dear Kim, 
 Global
Blood Therapeutics, Inc. (the “Company”) is pleased to offer you employment on the following terms: 
 1. Position. Your title will be EVP,
Head of Research & Development, and you will report to Ted Love, President and CEO. This is a full-time position. While you render services to the Company, you will not engage in any other employment, consulting or other business activity
(whether full-time or part-time) that would create a conflict of interest with the Company. By signing this letter agreement, you confirm to the Company that you have no contractual commitments or other legal obligations that would prohibit you from
performing your duties for the Company. 
 2. Cash Compensation. The Company will pay you a starting salary at the rate of $510,000 per year, payable
in accordance with the Company’s standard payroll schedule. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time. In addition to your base salary, you will be
eligible to participate in the annual performance-based Cash Incentive Bonus Plan, which is based on the achievement of Company performance goals and your personal goals to be set with your manager. Your initial bonus target for the Company’s
fiscal year (January 1 through December 31) shall be 50% of your base salary and will be paid according to the terms of the Bonus Plan, which is subject to change at the Company’s discretion, and prorated accordingly for any fiscal year in
which you do not work a full twelve months. If your employment start date is before October 1st, you will be eligible for a bonus payment for the applicable fiscal year, otherwise you will participate in the following fiscal year. 

3. Employee Benefits. As a regular employee of the Company, you will be eligible to participate in a number of Company-sponsored benefits. Should you
decide to participate in the Company health benefits program, your coverage will begin the first day of the month following your start date. In addition, you will be entitled to accrue up to 20 days of paid time off per year in accordance with the
Company’s policy. 
 4. Equity. Subject to the approval of the Company’s Board of Directors or its designee, you will be granted equity
awards as described in this section, consisting of a stock option award, an award of restricted stock units with time-based vesting, and an award of restricted stock units with performance-based vesting. Specifically, you will be granted an option
to purchase 35,500 shares of the Company’s Common Stock. The option will be subject to the terms and conditions applicable to options granted under the Company’s Amended and Restated 2017 Inducement Equity Plan (the “2017 Plan”),
as described in the 2017 Plan and the applicable stock option agreement. The exercise price per share will be determined when the option is granted. You will vest in 25% of the option shares 12 months after your employment start date, and the
balance will vest in equal quarterly installments of 6.25% per quarter over the next 36 months, in each case subject to your continuous service, as described in the applicable stock option agreement. In addition, you will be granted 24,160
time-based Restricted Stock Units (“RSUs”) of the Company’s Common Stock. This award of RSUs will be subject to the terms and conditions applicable to RSU awards granted under the 2017 Plan, as described in the 2017 Plan and the
applicable RSU award agreement. You will vest in 25% of the RSU shares after 12 months of continuous service from the vesting start date specified in the RSU award agreement (with vesting to commence after your employment start date), and the
balance will vest in equal six-month installments (of 12.5% per installment) over the next 36 months of continuous service, as described in the applicable RSU award agreement. In addition, you will be granted
42,400 performance-based RSUs of the Company’s Common Stock. This award of RSUs will be subject to the terms and conditions applicable to performance-based RSU awards granted under the Company’s Amended and Restated 2015 Stock Option and
Incentive Plan (the “2015 Plan”), as described in the 2015 Plan and the applicable RSU award agreement. You will vest in the performance-based RSUs as follows: 

 Upon the first instance of the Company’s achievement, on or before June 30, 2024,
of the applicable Stock Price Hurdles set forth below, subject to your continued employment or other service relationship with the Company through such vesting date (the “Hurdle Achievement Date”), 50% of the corresponding number of RSUs
shall vest on such Hurdle Achievement Date and the remaining 50% of the corresponding number of RSUs shall vest on the first anniversary of such Hurdle Achievement Date, subject to the your continued employment or other service relationship with the
Company through such date. 
  

									
	 Stock Price Hurdle
	  	Number of RSUs	 	 	Aggregate
% of Target Award	 
	 $72.80
	  	 	—  	 	 	 	—  	 
	 $109.20
	  	 	8,480 	(20%) 	 	 	20	% 
	 $145.60
	  	 	14,840 	(35%) 	 	 	55	% 
	 $182.00
	  	 	19,080 	(45%) 	 	 	100	% 

 The performance-based RSUs shall be subject to additional terms and conditions, including with respect to their treatment upon
a Sale Event (as defined in the 2015 Plan), consistent with those applicable to the performance-based RSUs previously approved by the Compensation Committee of the Board and granted to selected employees at the EVP level. This grant of performance
based-RSUs is contingent upon the Company’s stock price not exceeding $80.00 per share, which is 10% above the base price provided above (with the stock price per share to be calculated based on the
20-trading day average stock price immediately preceding your start of employment).
 5. Relocation
Bonus. The Company will pay you a one-time bonus of $75,000 (the “Relocation Bonus”), subject to applicable payroll deductions and tax withholdings if relocation of your
primary residence to the Bay Area in Northern California occurs prior to June 30, 2022. If you voluntarily leave the Company or your employment with the Company is terminated by the Company with Cause (as defined in the Change in Control
Policy, defined below), on or before the first anniversary of the date the Relocation Bonus is paid, then you agree to repay the total gross amount of the Relocation Bonus within 30 days of your last date of employment. 

6. Change in Control. You will be eligible to participate in the Company’s Amended and Restated Severance and Change in Control Policy (the
“Change in Control Policy”). In accordance with the policy’s terms, which the Company retains the right to amend, revise, change or end at any time, if your employment is terminated without Cause (as defined in the Change in Control
Policy) within one year after the closing of a Sale Event, you will receive certain benefits provided that you first execute and not revoke a severance agreement including a general release of claims. Currently those benefits are: (a) full
acceleration of vesting of your outstanding equity awards under the Company’s equity plan applicable to your equity awards (as set forth in the applicable plan); (b) a lump sum equal to twelve months of your base salary; (c) a lump sum
equal to your then-current target bonus; and (d) if you are participating in the Company group health plan immediately prior to termination and you elect COBRA, a monthly cash payment for twelve months equal to the Company’s monthly
premium contribution. This section is not intended to modify the Change in Control Policy and is provided merely as an introductory summary of the policy’s current terms. A copy of the Change in Control Policy will be available from Human
Resources upon request after your start date. 
 7. Employee Confidentiality and Assignment Agreement. Like all Company employees, you will be
required, as a condition of your employment with the Company, to sign the Company’s standard Employee Confidentiality and Assignment Agreement, a copy of which is attached hereto as Exhibit A. 

8. Background Check. The Company may conduct a background or reference check (or both). If so, then you agree to cooperate fully in those procedures,
and this offer is subject to the Company’s approving the outcome of those checks, in the discretion of the Company. 

 9. Employment Relationship. Employment with the Company is for no specific period of time. Your
employment with the Company will be “at will,” meaning that either you or the Company may terminate your employment at any time and for any reason, with or without cause. Any contrary representations that may have been made to you are
superseded by this letter agreement. This is the full and complete agreement between you and the Company on this term. Although your job duties, title, reporting relationship, compensation and benefits, as well as the Company’s personnel
policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by both you and a duly authorized officer of the Company. 

10.    Taxes. All forms of compensation referred to in this letter agreement are subject to reduction to reflect applicable
withholding and payroll taxes and other deductions required by law. You agree that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities, and you will not make any claim against the
Company or its Board of Directors related to tax liabilities arising from your compensation. 
 11.    Interpretation, Amendment and
Enforcement. This letter agreement and Exhibit A constitute the complete agreement between you and the Company, contain all of the terms of your employment with the Company and supersede any prior agreements, representations or
understandings (whether written, oral or implied) between you and the Company. This letter agreement may not be amended or modified, except by an express written agreement signed by both you and a duly authorized officer of the Company. The terms of
this letter agreement and the resolution of any disputes as to the meaning, effect, performance or validity of this letter agreement or arising out of, related to, or in any way connected with, this letter agreement, your employment with the Company
or any other relationship between you and the Company will be governed by California law, excluding laws relating to conflicts or choice of law. Prior to your start of employment with the Company, you and the Company intend to enter into a
consulting arrangement, in terms and conditions separate from this letter agreement. You understand and agree that none of the terms and conditions of this agreement will apply during the period of your consultancy, which will be governed by a
separate contract to be entered into no later than December 18, 2020 (or such other date as you and I (as an authorized party on behalf of the Company) may agree to in writing (without the need to formally amend this offer letter). 

* * * * * 
 We hope that you will
accept our offer to join the Company. You may indicate your agreement with these terms and accept this offer by signing this employment agreement and the enclosed Employee Confidentiality and Assignment Agreement and returning them to me. This
offer, if not accepted, will expire at 5:00pm on Friday, November 27, 2020. As required by law, your employment with the Company is contingent upon your providing legal proof of your identity and authorization to work in the United States. Your
employment is also contingent upon your starting work with the Company on May 3, 2021, or such other date as you and I (as an authorized party of the Company) may agree to in writing (without the need to formally amend this offer letter). 

If you have any questions, please call me at [***]. 

 

	
	Very truly yours,
	
	/s/ Eric Fink
	
	 Eric Fink
 Chief Human Resources Officer

GLOBAL BLOOD THERAPEUTICS, INC.

 I have read and accept this employment offer: 
  

	
	    /s/ Kim Smith-Whitley
	Kim Smith-Whitley

 Date:
11/14/2020                      
 Attachment

 Exhibit A: Employee Confidentiality and Assignment Agreement

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