Document:

EX-10.14

 Exhibit 10.14 

IMARA Inc. 
 RESTRICTED STOCK
UNIT AGREEMENT 
 IMARA Inc. (the “Company”) hereby grants the following restricted stock units pursuant to its 2019
Equity Incentive Plan. The terms and conditions attached hereto are also a part hereof. 
 Notice of Grant 

 

			
	Name of recipient (the “Participant”):	  	
		
	Grant Date:	  	
		
	Number of restricted stock units (“RSUs”) granted:	  	
		
	Number, if any, of RSUs that vest immediately on the grant date:	  	
		
	RSUs that are subject to vesting schedule:	  	
		
	Vesting Start Date:	  	

 Vesting Schedule: 
  

			
	Vesting Date:	  	Number of RSUs that Vest:
	    	  	
		  	
	
	All vesting is dependent on the Participant remaining an Eligible Participant, as provided herein.

 This grant of RSUs satisfies in full all commitments that the Company has to the Participant with respect to
the issuance of stock, stock options or other equity securities. 
  

							
	  
	 		 	 IMARA Inc.
  

	Signature of Participant	 		 		 	
	  
	 		 	By:	 	
                     

	Street Address	 		 		 	Name of Officer
	  
	 		 		 	Title:
	City/State/Zip Code	 		 		 	

 IMARA Inc. 

Restricted Stock Unit Agreement 

Incorporated Terms and Conditions 

1.    Award of Restricted Stock Units. In consideration of services rendered and to be rendered to the Company, by
the Participant, the Company has granted to the Participant, subject to the terms and conditions set forth in this Restricted Stock Unit Agreement (this “Agreement”) and in the Company’s 2019 Equity Incentive Plan (the
“Plan”), an award with respect to the number of restricted stock units (the “RSUs”) set forth in the Notice of Grant that forms part of this Agreement (the “Notice of Grant”). Each RSU represents
the right to receive one share of common stock, $0.001 par value per share, of the Company (the “Common Stock”) upon vesting of the RSU, subject to the terms and conditions set forth herein. 

2.    Vesting. The RSUs shall vest in accordance with the Vesting Schedule set forth in the Notice of Grant (the
“Vesting Schedule”). Any fractional shares resulting from the application of any percentages used in the Vesting Schedule shall be rounded down to the nearest whole number of RSUs. As soon as practicable after the vesting of the
RSU, the Company will deliver to the Participant, for each RSU that becomes vested, one share of Common Stock, subject to the payment of any taxes pursuant to Section 7. The Common Stock will be delivered to the Participant as soon as
practicable following each vesting date, but in any event within 30 days of such date. 
 3.    Forfeiture of
Unvested RSUs Upon Cessation of Service. In the event that the Participant ceases to be an Eligible Participant (as defined below) for any reason or no reason, with or without cause, all of the RSUs that are unvested as of the time of such
cessation shall be forfeited immediately and automatically to the Company, without the payment of any consideration to the Participant, effective as of such cessation. The Participant shall have no further rights with respect to the unvested RSUs or
any Common Stock that may have been issuable with respect thereto. The Participant shall be an “Eligible Participant” if he or she is an employee, director or officer of, or consultant or advisor to, the Company or any other entity
the employees, officers, directors, consultants or advisors of which are eligible to receive awards of RSUs under the Plan. 

4.    Restrictions on Transfer. The Participant shall not sell, assign, transfer, pledge, hypothecate, encumber or
otherwise dispose of, by operation of law or otherwise (collectively “transfer”) any RSUs, or any interest therein. The Company shall not be required to treat as the owner of any RSUs or issue any Common Stock to any transferee to whom
such RSUs have been transferred in violation of any of the provisions of this Agreement. 
 5.    Rights as a
Stockholder. The Participant shall have no rights as a stockholder of the Company with respect to any shares of Common Stock that may be issuable with respect to the RSUs until the issuance of the shares of Common Stock to the Participant
following the vesting of the RSUs. 
 6.    Provisions of the Plan. This Agreement is subject to the provisions
of the Plan, a copy of which is furnished to the Participant with this Agreement. 

 7.    Tax Matters. 

(a)    Acknowledgments; No Section 83(b) Election. The Participant acknowledges that he or she is
responsible for obtaining the advice of the Participant’s own tax advisors with respect to the award of RSUs and the Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents
with respect to the tax consequences relating to the RSUs. The Participant understands that the Participant (and not the Company) shall be responsible for the Participant’s tax liability that may arise in connection with the acquisition,
vesting and/or disposition of the RSUs. The Participant acknowledges that no election under Section 83(b) of the Internal Revenue Code of 1986, as amended, (the “Code”) is available with respect to RSUs. 

(b)    Withholding. The Participant acknowledges and agrees that the Company has the right to deduct from payments
of any kind otherwise due to the Participant any federal, state, local or other taxes of any kind required by law to be withheld with respect to the vesting of the RSUs. At such time as the Participant is not aware of any material nonpublic
information about the Company or the Common Stock and the Participant is not subject to any restriction on trading activities with respect to the Common Stock pursuant to any Company insider trading or other policy, the Participant shall execute the
instructions set forth in Schedule A attached hereto (the “Automatic Sale Instructions”) as the means of satisfying such tax obligation. If the Participant does not execute the Automatic Sale Instructions prior to an
applicable vesting date, then the Participant agrees that if under applicable law the Participant will owe taxes at such vesting date on the portion of the award then vested the Company shall be entitled to immediate payment from the Participant of
the amount of any tax required to be withheld by the Company. The Company shall not deliver any shares of Common Stock to the Participant until it is satisfied that all required withholdings have been made. 

8.    Miscellaneous. 

(a)    Section 409A. The RSUs awarded pursuant to this Agreement are intended to be exempt from or comply with the
requirements of Section 409A of the Code and the Treasury Regulations issued thereunder (“Section 409A”). The delivery of shares of Common Stock on the vesting of the RSUs may not be accelerated or deferred
unless permitted or required by Section 409A. 
 (b)    Participant’s Acknowledgements. The Participant
acknowledges that he or she: (i) has read this Agreement; (ii) has been represented in the preparation, negotiation and execution of this Agreement by legal counsel of the Participant’s own choice or has voluntarily declined to seek
such counsel; (iii) understands the terms and consequences of this Agreement; (iv) is fully aware of the legal and binding effect of this Agreement; and (v) agrees that in accepting this award, he or she will be bound by any clawback
policy that the Company may adopt in the future. 
 [Remainder of Page Intentionally Left Blank] 

 Schedule A 

Automatic Sale Instructions 
 The
undersigned hereby consents and agrees that any taxes due on a vesting date as a result of the vesting of RSUs on such date shall be paid through an automatic sale of shares as follows: 

(a)    Upon any vesting of RSUs pursuant to Section 2 hereof, the Company shall arrange for the sale of such number
of shares of Common Stock issuable with respect to the RSUs that vest pursuant to Section 2 as is sufficient to generate net proceeds sufficient to satisfy the Company’s minimum statutory withholding obligations with respect to the income
recognized by the Participant upon the vesting of the RSUs (based on minimum statutory withholding rates for all tax purposes, including payroll and social security taxes, that are applicable to such income), and the net proceeds of such sale shall
be delivered to the Company in satisfaction of such tax withholding obligations. 
 (b)    The Participant hereby
appoints the Chief Executive Officer and the Chief Financial Officer, and any of them acting alone and with full power of substitution, to serve as his or her attorneys in fact to arrange for the sale of the Participant’s Common Stock in
accordance with this Schedule A. The Participant agrees to execute and deliver such documents, instruments and certificates as may reasonably be required in connection with the sale of the shares pursuant to this Schedule A. 

(c)    The Participant represents to the Company that, as of the date hereof, he or she is not aware of any material
nonpublic information about the Company or the Common Stock and is not subject to any restriction on trading activities with respect to the Common Stock pursuant to any Company insider trading policy or other policy. The Participant and the Company
have structured this Agreement, including this Schedule A, to constitute a “binding contract” relating to the sale of Common Stock, consistent with the affirmative defense to liability under Section 10(b) of the Securities Exchange
Act of 1934 under Rule 10b5-1(c) promulgated under such Act. 
 The Company shall not deliver any
shares of Common Stock to the Participant until it is satisfied that all required withholdings have been made. 
  

			
	  

 

			
	Participant Name:	 	  

 

			
	Date:Exhibit

AMENDMENT NO. ONE
TO THE
MOLINA HEALTHCARE, INC.
AMENDED AND RESTATED
DEFERRED COMPENSATION PLAN (2018)
Section 7 of the Molina Healthcare, Inc. Amended and Restated Deferred Compensation Plan (2018) effective for amounts earned and deferred on or after January 1, 2018 (the “Plan”) allows Molina Healthcare, Inc. (the “Company”) to amend the terms of the Plan, at any time by resolution of the Plan Committee.  Accordingly, the Plan Committee amends the Plan as follows, effective, unless otherwise specified herein, for Written Elections for amounts earned and deferred on or after January 1, 2020. 
		
	1.
	A new Section 1.8 is added to read as follows:

“Eligible Employee means a Key Employee who has been designated by the Plan Committee or its designee as eligible to participate in the Plan.”
		
	2.
	Existing Sections 1.8 through 1.15 are renumbered as Sections 1.9 through 1.16 and references to such sections in the remainder of the Plan are updated accordingly.

		
	3.
	Section 1.9, as renumbered, is amended to read as follows:

“Key Employee means an employee of the Company or a Subsidiary, who is (A) a member of a select group of management or highly compensated employees within the meaning of §2520.104-23 of the Department of Labor Regulations, and (B) projected to receive Plan Year Compensation (base pay plus bonus), plus amounts deferred to any 401(k) plan, deferred compensation plan, or cafeteria plan maintained by the Company, of $200,000 or more.”
		
	4.
	Section 1.10, as renumbered, is amended to read as follows:

“Participant means (A) an Eligible Employee who timely files a Written Election pursuant to Section 2.3, below, and (B) a former employee who, at the time of his Separation from Service, death, or Disability, retains, or whose beneficiary retains, benefits earned under the Plan in accordance with its terms.  A Participant is considered an Active Participant in the Plan (even if the Participant no longer satisfies the requirements of Section 1.9(B) but subject to the right of the Plan Committee or its designee to no longer designate such employee as an Eligible Employee) until the Participant separates from service under the terms of this Plan.”
		
	5.
	Section 1.14, as renumbered, is amended to read as follows:

“Plan Year Compensation means base salary, annual bonus, commissions, PTO cashout and other cash compensation earned during the Plan Year (or portion thereof in which the Eligible Employee is a Participant in this Plan) other than reimbursements and expense allowances, cash stipends, sign-on bonus, relocation bonus and retention bonus. Plan Year Compensation excludes all equity-based compensation.”
		
	6.
	Section 1.16, as renumbered, is deleted.

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	7.
	Section 1.19 is amended to read as follows:

“Trustee means the institutional trustee under the terms of the Trust Agreement established in connection with this Plan.”
		
	8.
	Section 2.1 is amended to read as follows:

“Eligibility. Employees who are newly designated as Eligible Employees will be provided written notice of eligibility and enrollment materials for entry into the Plan.  A Participant will remain eligible to participate in the Plan for each subsequent Plan Year unless notified otherwise by the Plan Committee.”

		
	9.
	Section 2.2 is amended to read as follows:

“Entry Date. An Eligible Employee becomes a Participant on the first day of the calendar quarter immediately following receipt of notice of eligibility; provided, that, the Eligible Employee timely submits a Written Election in accordance with Section 2.3.  An Eligible Employee who fails to meet the requirements of Section 2.3 shall become a Participant on the first day of the next Plan Year following timely submission of a Written Election as specified in Section 2.3.”

		
	10.
	The first paragraph of Section 2.3 is amended to read as follows:

“Written Election by Participant. A newly Eligible Employee may defer Plan Year Compensation to be earned in the same Plan Year of his or her initial eligibility by submitting a Written Election in accordance with the procedures approved by the Plan Committee not later than 30 days after he or she first receives enrollment materials under Section 2.1. Such election becomes irrevocable on the 30th day after he or she first receives enrollment materials and is effective for the first payroll period beginning in the next calendar quarter. To the extent the election applies to an item of Plan Year Compensation earned over more than one payroll period that commenced prior to the beginning of such calendar quarter, the maximum deferrable amount of such Plan Year Compensation is a fraction of such compensation with the numerator equal to the number of days from the beginning of the calendar quarter in which the Written Election is effective and the denominator is the total number of days in the service period.  In no event will the amount of an item of deferrable Plan Year Compensation exceed the limits set forth in Section 3.1.  

All Participants may submit Written Elections applicable to Plan Year Compensation earned in the next following Plan Year by submitting Written Elections no later than the last day of the current Plan Year.  A Written Election applicable to Plan Year Compensation earned over more than one Plan Year shall be made before the Plan Year in which the service period applicable to such Plan Year Compensation begins and shall remain in effect for all Plan Years in which the related services are performed. Elections for the next Plan Year become irrevocable on the last day of the current Plan Year.

In order to be valid for purposes of Code Section 409A, all Written Elections must contain the items set forth in Section 2.3(a), except subparagraph (iii); provided, however, a Participant’s initial election in Section 2.3(a) subparagraphs (iv) and (v) shall remain in effect for all subsequent Plan Years unless changed in accordance with Section 2.3(e).  Valid elections (those meeting the requirements of this Section 2.3) are referred to herein as ‘Written Elections’.”

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	11.
	Section 2.3(a) is amended to read as follows:

		
	“a.
	Such Written Election shall be made on the form presented to the Participant by the Plan Committee or its designee and shall set forth: 

		
	i.
	his election to participate in this Plan under the terms hereof; 

		
	ii.
	the amount of Plan Year Compensation the Participant has determined to defer under the Plan for the Plan Year, pursuant to Section 3.1 below; 

		
	iii.
	the investment vehicles into which the Participant desires to have his Account attributable to deferral of Plan Year Compensation invested, as provided in Section 3.5 below, and the percentage of such Account allocated to each elected investment vehicle; 

		
	iv.
	the date on which distribution of his benefit is to be made or commence, which is the earlier of: (a) the date specified for an In-Service Withdrawal; or (b) the date he separates from service with the Company or a Subsidiary for any reason; and 

		
	v.
	the form in which his benefit is to be distributed upon an In-Service Withdrawal, Separation from Service, Disability or death.”

		
	12.
	Section 2.3(b) is amended to read as follows:

“Beginning with the 2020 enrollment for the 2021 Plan Year, Written Elections will continue in effect for subsequent Plan Years, unless revoked or modified in writing by the Participant or the Plan Committee prior to the last day of the current Plan Year.
A Written Election is deemed to be revoked for a subsequent Plan Year if the Participant is notified in writing prior to the last day of the current Plan Year that he or she is no longer an Eligible Employee.  Written Elections shall be irrevocable on and after the first day of the Plan Year for which the election was made, unless the Written Election is cancelled during the current Plan Year due to an Unforeseeable Financial Emergency in accordance with Section 5.5.”  
		
	13.
	Section 2.4 is amended to read as follows:

“Duration of Participation.  Any Eligible Employee who has become a Participant at any time shall remain a Participant, even though he is no longer an Active Participant, until his entire benefit under the terms of the Plan has been paid to him (or to his Beneficiary in the event of his death), at which time he ceases to be a Participant.”

		
	14.
	The first sentence of Section 3.1 is amended to read as follows:

“A Participant may elect to defer (i) up to 75% of Plan Year Compensation consisting of base pay and PTO cashout (referred to herein as “base pay”) and (ii) up to 90% of all other Plan Year Compensation (referred to herein as “bonus pay”).”

		
	15.
	Section 3.3 is amended to read as follows:

“Allocation of Participant Contributions. All amounts which a Participant elects to defer under the terms of this Plan shall be allocated to his Account as of the payroll date on which such amounts 

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otherwise would have been paid. Each such Participant Deferral Account shall be credited with earnings as provided in Section 3.5 below.”

		
	16.
	Section 6.2(a) is amended to read as follows:

“Separation from Service Benefit, Disability Benefit, and Death Benefit payments shall commence no later than sixty-five (65) days following the date on which the Participant retires, terminates service, becomes disabled, or dies; provided, however, any election made by a Participant prior to January 1, 2020 to have his Separation from Service Benefit distributions commence on a specified date subsequent to his termination of employment shall commence on such date;”

		
	17.
	Section 6.4 is amended to read as follows: 

“Limited Cashout.  Notwithstanding any Written Election made by the Participant, if, upon the Participant’s Separation from Service, such Participant’s accrued benefit under the Plan (and any other deferred compensation plan required to be aggregated with this Plan) does not exceed the then-current limit under Section 402(g)(1)(B) of the Code, the Company shall distribute such Participant’s accrued benefit under the Plan in a single lump sum payment to the Participant (or the Beneficiary, if the Participant is deceased) within sixty-five (65) days following the Participant’s Separation from Service, provided that such distribution results in a termination and complete liquidation of such Participant’s interest under the Plan (and any other deferred compensation plan required to be aggregated by this Plan).”

Except as amended hereby, the terms of the Plan shall remain in full force and effect.

MOLINA HEALTHCARE, INC.

By: /s/ Joseph M. Zubretsky

Name: Joseph M. Zubretsky

Title: President and Chief Executive Officer

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