Document:

ubx-ex101_114.htm

Exhibit 10.1

 

Unity Biotechnology, Inc.

Amended and Restated Non-Employee Director Compensation Program

(Effective March 14, 2019)

 

 

Whereas the Unity Biotechnology, Inc. (the “Company”) Non-Employee Director Compensation Program was adopted under the Company’s 2018 Incentive Award Plan (the “Plan”) and became effective upon the closing of the Company’s initial public offering of its common stock (the “IPO”).  This Amended and Restated Non-Employee Director Compensation Program (the “Amended Program”) shall be effective as of March 14, 2019. Capitalized terms not otherwise defined herein shall have the meaning ascribed in the Plan.  

 

Cash Compensation

 

Effective on January 1, 2019, annual retainers will be paid in the following amounts to Non-Employee Directors:

 

		
	
Non-Employee Director:
	
$35,000

	
Lead Independent Director
	
$25,000

	
Chair of Audit Committee:
	
$15,000

	
Chair of Compensation Committee:
	
$10,000

	
Chair of Nominating and Corporate Governance Committee:
	
$8,000

	
Chair of Science Committee:
	
$10,000

	
Audit Committee Member (other than Chair):
	
$7,500

	
Compensation Committee Member (other than Chair):
	
$5,000

	
Nominating and Corporate Governance Committee Member (other than Chair):
	
$4,000

	
Science Committee Member (other than Chair):
	
$5,000

 

All annual retainers will be paid in cash quarterly in arrears promptly following the end of the applicable calendar quarter, but in no event more than thirty (30) days after the end of such quarter. In the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described above, for an entire calendar quarter, the retainer paid to such Non-Employee Director shall be prorated for the portion of such calendar quarter actually served as a Non-Employee Director, or in such position, as applicable.

 

Equity Compensation

 

		

		
	
Initial Stock Option Grant:
	
Each Non-Employee Director who is initially elected or appointed to serve on the Board after the IPO shall be granted an Option under the Plan or any other applicable Company equity incentive plan then-maintained by the Company to purchase that number of shares of Common Stock such that the Option has a Grant Date Value (as defined below) equal to $450,000 (the “Initial Option”).  For the purposes of this Amended Program, “Grant Date Value” shall mean the fair value of an option determined using the Black-Scholes pricing 

model with the volume weighted average trading price of a share of Common Stock on the stock exchange on which the Common Stock is then listed or traded for the thirty (30) consecutive trading days ending on the trading day prior to the date of grant and the volatility, risk-free rate and life expectancy assumptions in the Company’s most recent public filings disclosing those assumptions.

 

The Initial Option will be automatically granted on the date on which such Non-Employee Director commences service on the Board, and will vest as to 1/36th of the shares subject thereto on each monthly anniversary of the applicable date of grant such that the shares subject to the Initial Option are fully vested on the third anniversary of the grant, subject to the Non-Employee Director continuing in service on the Board through each vesting date.

 

	
Annual Stock Option Grant:
	
Each Non-Employee Director who is serving on the Board as of the date of each annual shareholder meeting of the Company (each, an “Annual Meeting”) shall be granted an Option under the Plan or any other applicable Company equity incentive plan then-maintained by the Company to purchase that number of shares of Common Stock such that the Option has a Grant Date Value equal to $225,000 (the “Annual Option”), provided that the number of shares subject to the Annual Option will be prorated for any partial year of service as a Non-Employee Director. 

 

The Annual Option will be automatically granted on the date of the applicable Annual Meeting, and will vest in full on the earlier of (i) the first anniversary of the date of grant and (ii) immediately prior to the Annual Meeting following the date of grant, subject to the Non-Employee Director continuing in service on the Board through such vesting date.

 

The per share exercise price of each Option granted to a Non-Employee Director shall equal the Fair Market Value of a share of common stock on the date the Option is granted.

 

The term of each Option granted to a Non-Employee Director shall be ten (10) years from the date the Option is granted.

 

No portion of an Initial Option or Annual Option which is unvested or unexercisable at the time of a Non-Employee Director’s termination of service on the Board shall become vested and exercisable thereafter.

 

Members of the Board who are employees of the Company or any parent or subsidiary of the Company who subsequently terminate their service with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Option, but to the extent that they are otherwise eligible, will be eligible to receive, after termination from service with the Company and any parent or subsidiary of the Company, Annual Options as described above.

 

Change in Control

 

Upon a Change in Control of the Company, all outstanding equity awards granted under the Plan and any other equity incentive plan maintained by the Company that are held by a Non-Employee Director shall become fully vested and/or exercisable, irrespective of any other provisions of the Non-Employee Director’s Award Agreement.

 

Reimbursements

The Company shall reimburse each Non-Employee Director for all reasonable, documented, out-of-pocket travel and other business expenses incurred by such Non-Employee Director in the performance of his or her duties to the Company in accordance with the Company’s applicable expense reimbursement policies and procedures as in effect from time to time. 

Miscellaneous

 

The other provisions of the Plan shall apply to the Options granted automatically pursuant to this Amended Program, except to the extent such other provisions are inconsistent with this Amended Program.  All applicable terms of the Plan apply to this Amended Program as if fully set forth herein, and all grants of Options hereby are subject in all respect to the terms of such Plan.  The grant of any Option under this Amended Program shall be made solely by and subject to the terms set forth in a written agreement in a form to be approved by the Board and duly executed by an executive officer of the Company.

 

Effectiveness

 

This Amended Program is effective as of March 14, 2019.  

 

 

* * * * *

 

I hereby certify that the foregoing Amended Program was duly adopted by the Board of Directors of Unity Biotechnology, Inc. on March 14, 2019.

Executed on this 14th day of March, 2019.

 

/s/ Tamara L. Tompkins

Corporate SecretaryEX-10.2

 Exhibit 10.2 

[YEAR] RESTRICTED STOCK AWARD AGREEMENT 
 We are pleased
to advise you that the Board of Directors of Office Depot, Inc. (the “Board” and the “Company”, respectively) has on [DATE] (the “Grant Date”) granted you a restricted stock award (your “Award”) pursuant to
the Office Depot, Inc. 2019 Long-Term Incentive Plan (the “Plan”). Capitalized terms used but not defined in this [YEAR] Restricted Stock Award Agreement (the “Agreement”) have the meanings given to them in the Plan. This Award
is subject to federal and local law and the requirements of the NASDAQ Stock Market LLC. 
  

	1.	 Award 

You have been granted [NUMBER] shares of the Company’s common stock subject to the provisions and restrictions contained in the Plan and
this Agreement (the “Shares”). 
  

	2.	 Vesting  

The Shares are fully vested on the Grant Date. 
  

	3.	 Conformity with Plan 

Your Award is intended to conform in all respects with, and is subject to, all applicable provisions of the Plan which is incorporated herein
by reference. Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan except as expressly provided otherwise in this Agreement. The Compensation Committee of the Board (the
“Committee”) reserves its right to amend or terminate the Plan at any time without your consent; provided, however, that this Award shall not, without your written consent, be adversely affected thereby (except to the extent the Committee
reasonably determines that such amendment or termination is necessary or appropriate to comply with applicable law or the rules or regulations of any stock exchange on which the Company’s stock is listed or quoted). All interpretations and
determinations of the Committee or its delegate shall be final, binding and conclusive upon you and your legal representatives with respect to any question arising hereunder or under the Plan or otherwise, including guidelines, policies or
regulations which govern administration of the Plan. 
 By executing and returning the enclosed copy of this Agreement, you agree to be bound
by all of the terms of the Plan, and you acknowledge availability and accessibility of the Plan document, the Plan prospectus, and either the Company’s latest annual report to shareholders or annual report on Form
10-K on the Plan and/or Company websites. You understand that you may request paper copies of the foregoing documents by contacting the Company’s Senior Director, Total Rewards, at [NUMBER]. 

 

	4.	 Restrictions on Shares 

All certificates for Shares shall be subject to such stop-transfer orders and other restrictions as the Committee may deem advisable under the
rules, regulations, and other requirements of the Securities and Exchange Commission, any listing standards of any exchange or self-regulatory organization on which the common stock of the Company is listed, and any applicable federal or state laws;
and the Committee may 

  
 1 

BOD Restricted Stock 
 Award Agreement

 
cause a legend or legends to be placed on any such certificates to make appropriate reference to such restrictions. In making such determination, the Committee may rely upon an opinion of counsel
for the Company. 
 The Company shall have no liability to deliver any shares under the Plan or make any other distribution of the benefits
under the Plan unless such delivery or distribution would comply with all applicable state, federal, and foreign laws (including, without limitation and if applicable, the requirements of the Securities Act of 1933), and any applicable requirements
of any securities exchange or similar entity. 
 The Committee shall be permitted to amend this Agreement in its discretion to the extent the
Committee determines that such amendment is necessary or desirable to achieve compliance with the Dodd-Frank Wall Street Reform and Consumer Protection Act and the guidance thereunder. 

 

	5.	 Successors 

The grant of your Award shall not give you any right to any additional awards under the Plan or any other compensation plan the Company has
adopted or may adopt. The agreements contained in this Agreement shall be binding upon and inure to the benefit of any successor of the Company. 
  

	6.	 Amendment 

The Committee may amend this Agreement by a writing that specifically states that it is amending this Agreement, so long as a copy of such
amendment is delivered to you, provided that no such amendment shall adversely affect in a material way your rights hereunder without your written consent (except to the extent the Committee reasonably determines that such amendment or termination
is necessary or appropriate to comply with applicable law or the rules or regulations of any stock exchange on which the Company’s common stock is listed or quoted). 
  

	7.	 Notices 

Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company as follows: 

Office Depot, Inc. 
 [CONTACT
INFORMATION] 
 Any notice to be given under the terms of this Agreement to you shall be addressed to you at the address listed in the
Company’s records. By a notice given pursuant to this section, either party may designate a different address for notices. Any notice shall be deemed to have been duly given when personally delivered (addressed as specified above) or when
enclosed in a properly sealed envelope (addressed as specified above) and deposited, postage prepaid, with the U.S. postal service or an express mail company. 
  

	8.	 Severability 

  
 2 

BOD Restricted Stock 
 Award Agreement

 If all or any part of this Agreement or the Plan is declared by any court or governmental
authority to be unlawful or invalid, such unlawfulness or invalidity shall not invalidate any portion of this Agreement or the Plan not declared to be unlawful or invalid. Any section of this Agreement (or part of such a section) so declared to be
unlawful or invalid shall, if possible, be construed in a manner that will give effect to the terms of such section or part of a section to the fullest extent possible while remaining lawful and valid. 

 

	9.	 Entire Agreement 

This Agreement contains the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior agreements
or understandings, oral or written, with respect to the subject matter herein. By signing this Agreement, you accept the Award in full satisfaction of any and all obligations of the Company to grant restricted stock awards to you as of the date
hereof. 
  

	10.	 Governing Law 

This Agreement will be governed by and enforced in accordance with the laws of the State of Florida, without giving effect to its conflicts of
laws rules or the principles of the choice of law. 
  

	11.	 Section 409A 

It is intended, and this Agreement shall be construed, so that the Shares shall be exempt from section 409A of the Internal Revenue Code of
1986, as amended (the “Code”). However, if for any reason any compensation payable under this Agreement constitutes deferred compensation within the meaning of Code section 409A and the Department of Treasury regulations and other guidance
thereunder, it is intended, and this Agreement shall be construed, so that such compensation complies with the requirements of Code section 409A and such regulations and guidance. You acknowledge and agree that the Company has made no representation
regarding the tax treatment of the Award and, notwithstanding anything else in this Agreement, that you are solely responsible for all taxes due with respect to the Award. 
  

	12.	 Venue 

Any action or proceeding seeking to enforce any provision of or based on any right arising out of this Agreement may be brought against you or
the Company only in the courts of the State of Florida or, if it has or can acquire jurisdiction, in the United States District Court for the Southern District of Florida, West Palm Beach Division; and you and the Company consent to the jurisdiction
of such courts in any such action or proceeding and waive any objection to venue laid therein. 

  
 3 

BOD Restricted Stock 
 Award Agreement

 Please execute the enclosed copy of this Agreement and return it to the Company’s Senior Director,
Total Rewards, at the address below to confirm your understanding and acknowledgment of the terms contained in this Agreement: 
  

			
	Office Depot, Inc.
	[CONTACT INFORMATION]
	
	Very truly yours,
	
	OFFICE DEPOT, INC.
		
	By:	 	  

		 	[NAME]
		 	Senior Director, Total Rewards

 Enclosure: Copy of [MONTH YEAR] Restricted Stock Award Agreement for return to Company 

 
  

Acceptance by Participant of [MONTH YEAR] Restricted Stock Award Agreement: 
  

	
	Signature:
                                         
                 
	
	Name:
                                         
                       
	
	Date:
                                         
                         

  
 4 

BOD Restricted Stock 
 Award Agreement

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