Document:

EX-10.2

 Exhibit 10.2 

NATIONAL COMMERCE CORPORATION 

INDEMNIFICATION AGREEMENT 

THIS INDEMNIFICATION AGREEMENT (this “Agreement”) is made effective as of the      day of
        , 2015, by and between National Commerce Corporation, a Delaware corporation (the “Company”), and
                             (“Indemnitee”). 

Recitals 
 WHEREAS,
the Company has adopted Bylaws (the “Bylaws”) which provide for the indemnification of the directors, officers, agents, and employees of the Company in accordance with Section 145 of the General Corporation Law of Delaware (the
“Indemnification Statute”); 
 WHEREAS, the Indemnification Statute provides that it is not exclusive, and thus contemplates that
contracts may be entered into between the Company and its directors, officers, employees and agents with respect to the indemnification of such individuals; 

WHEREAS, the terms, cost and availability of directors’ and officers’ liability insurance (“Liability Insurance”) have
raised questions regarding the adequacy and reliability of the protection afforded to directors and officers thereby; and 
 WHEREAS, in
order to induce Indemnitee to perform or continue to perform services on behalf of the Company, the Company has determined and agreed to enter into this Agreement with Indemnitee. 

Agreement 
 NOW,
THEREFORE, in consideration of and for Indemnitee’s agreement to serve as a director, officer, employee or agent of the Company and to render service on behalf of the Company, the parties agree as follows: 

1. Liability Insurance. The Company shall use reasonable efforts to maintain Liability Insurance at its own expense for the benefit of
Indemnitee during the term of this Agreement; provided, however, that the Company shall not be required to maintain any policy of Liability Insurance if, in the sole business judgment of a majority of the directors then in office,
(i) the premium cost for such Liability Insurance is excessive; (ii) the premium cost for such Liability Insurance is not reasonably related to the amount of coverage provided; or (iii) the coverage provided by such Liability
Insurance is so limited by its terms and exclusions or otherwise that sufficient benefit is not derived therefrom. Any policy of Liability Insurance provided hereunder shall be of a type and coverage amount selected by the Company in its sole
discretion and may provide for compensation or reimbursement to Indemnitee for liabilities asserted against, or expenses incurred by, Indemnitee in his or her capacity as an officer, director, employee or agent of the Company, whether or not the
Company would have the power to indemnify Indemnitee against such liabilities or expenses under this Agreement or the Indemnification Statute. 

 2. Indemnity. The Company agrees to indemnify and reimburse Indemnitee to the full extent
authorized and permitted by the provisions of the Bylaws of the Company and the laws of the State of Delaware, and by any amendment thereof, authorizing or permitting such indemnification which is adopted after the date hereof. 

3. Additional Indemnity. 

(a) Subject only to the exclusions set forth in Section 4 hereof, the Company shall indemnify and reimburse Indemnitee under any
circumstances where Indemnitee was or is a party or is threatened to be made a party to or is otherwise involved in a threatened, pending, or completed action, suit, or proceeding, whether civil, criminal, administrative, or investigative and
whether formal or informal, including an action by or in the right of the Company (a “Proceeding”), by reason of the fact that he or she is or was a director, officer, employee or agent of the Company, or, while a director, officer,
employee or agent of the Company, is or was serving at the request of the Company as a director, officer, partner, trustee, employee or agent of, or in any other position or capacity for, another foreign or domestic corporation, partnership, limited
liability company, joint venture, trust, employee benefit plan or other enterprise, whether for profit or not, against expenses (including without limitation attorneys’ fees, judgments, penalties, fines and amounts paid in settlement) actually
and reasonably incurred by Indemnitee in connection with the Proceeding, if Indemnitee acted in good faith and in a manner he or she reasonably believed to be in or not opposed to the best interests of the Company, and with respect to a criminal
Proceeding, if Indemnitee had no reasonable cause to believe his or her conduct was unlawful. The termination of a Proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent, does not, of itself,
create a presumption that Indemnitee did not act in good faith and in a manner which he or she reasonably believed to be in or not opposed to the best interests of the Company, and, with respect to a criminal Proceeding, had reasonable cause to
believe that his or her conduct was unlawful. 
 (b) The term “Company” shall for purposes of this Agreement include National
Commerce Corporation and its direct and indirect majority-owned subsidiaries, as well as any resulting or surviving corporation from a merger or consolidation to which the Company is a constituent corporation. 

4. Limitations on Indemnity. No indemnity pursuant to Section 3 hereof shall be paid by the Company: 

(a) except to the extent that the aggregate amount to be indemnified hereunder exceeds the amount for which Indemnitee is indemnified
(i) pursuant to Section 2 hereof; (ii) pursuant to an indemnification agreement with any parent, subsidiary or affiliate of the Company; or (iii) under any policy of Liability Insurance purchased and maintained by the Company
pursuant to Section 1 hereof; 
 (b) with respect to remuneration paid to Indemnitee if it shall be determined by a final judgment or
other final adjudication that such remuneration was in violation of law; 

  
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 (c) on account of any suit in which judgment is rendered against Indemnitee for an accounting of
profits made from the purchase or sale by Indemnitee of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934 and amendments thereto or similar provisions of any federal, state, or local
statutory law; 
 (d) on account of Indemnitee conduct which is finally adjudged to have been knowingly fraudulent, deliberately dishonest
or willful misconduct; 
 (e) if, in the opinion of the Company’s counsel, indemnification is prohibited by applicable law of the State
of Delaware; 
 (f) for a claim, issue, or matter in which Indemnitee has been found liable to the Company unless and only to the extent
that the Court of Chancery in Delaware or the court in which the action or suit was brought has determined upon application that, despite the adjudication of liability but in view of all circumstances of the case, Indemnitee is fairly and reasonably
entitled to indemnification for the expenses which the court considers proper; 
 (g) if a final decision by a court having jurisdiction in
the matter shall determine that such indemnification is not lawful; or 
 (h) in connection with a Proceeding (or part thereof) commenced by
Indemnitee, unless and to the extent that (i) the commencement of such Proceeding (or part thereof) by Indemnitee was specifically authorized by the board of directors of the Company, or (ii) Indemnitee is successful in whole or in part in
any suit filed against the Company to recover the unpaid amount of any expenses for which a written claim for indemnification has been submitted to the Company by Indemnitee. 

5. Term of Agreement. The original term of this Agreement shall be the twelve month period commencing on the date of this Agreement.
This Agreement shall automatically renew for successive one-year terms, unless sooner terminated upon the termination of Indemnitee’s position as an officer, director, employee or agent of the Company or upon delivery of written notice of
termination by the Company to Indemnitee not less than 60 days prior to the date of termination stated in the notice. Notwithstanding anything in this Agreement to the contrary, the indemnification and advancement of expenses provided pursuant to
this Agreement shall survive the termination of this Agreement with respect to all activities, actions or inactions occurring or alleged to have occurred prior to or during the term of this Agreement, and this Agreement shall remain binding upon the
Company following the termination hereof with respect to the covered activities, actions or inactions of Indemnitee occurring or alleged to have occurred prior to or during the term of this Agreement. 

6. Notification and Defense of Claim. Promptly after receipt by Indemnitee of notice of the commencement or threatened commencement of
any Proceeding, Indemnitee will, if a claim for indemnification in respect thereof is to be made by Indemnitee against the Company under this Agreement, notify the Company in writing of the commencement and nature thereof; provided, however,
that a failure by Indemnitee to so notify the Company will not relieve the Company from any obligation that it may have to Indemnitee otherwise than under this Agreement. With respect to any such Proceeding as to which Indemnitee notifies the
Company of the commencement thereof: 
 (a) The Company will be entitled to participate therein at its own expense; and 

  
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 (b) Except as otherwise provided below, to the extent that it may wish, the Company jointly with
any other indemnifying party similarly notified will be entitled to assume the defense thereof, with counsel selected by the Company and consented to by Indemnitee, which consent shall not be unreasonably withheld. After written notice from the
Company to Indemnitee of its election so to assume the defense thereof, the Company will not be liable to Indemnitee under this Agreement for any legal or other expenses subsequently incurred by Indemnitee in connection with the defense thereof,
other than reasonable costs of investigation or as otherwise provided below. Indemnitee shall have the right to employ his or her own counsel in such Proceeding, but the fees and expenses of such counsel incurred by Indemnitee after the notice from
the Company of its assumption of the defense of such Proceeding shall be at the expense of Indemnitee unless (i) the employment of counsel by Indemnitee has been authorized in writing by the Company; (ii) in the opinion of counsel for the
Company, a conflict of interest between the Company and Indemnitee exists in the conduct of the defense of such Proceeding; or (iii) the Company shall not in fact have employed counsel to assume the defense of such Proceeding, in each of which
cases the reasonable fees and expenses of Indemnitee’s counsel shall be at the expense of the Company. The Company shall not be entitled to assume the defense of any Proceeding brought by or on behalf of the Company or as to which a conflict of
interest exists between the Company and Indemnitee. 
 (c) The Company shall not be liable to indemnify Indemnitee under this Agreement for
any amounts paid or agreed upon by Indemnitee in settlement of any Proceeding without the written consent of the Company. The Company shall not settle any Proceeding in any manner that would impose any penalty or limitation on Indemnitee without
Indemnitee’s written consent. Neither the Company nor Indemnitee will unreasonably withhold its consent to any proposed settlement. 

7. Payment of Indemnity. Any indemnification under this Agreement shall be made promptly, and in any event within sixty (60) days,
upon the written request of Indemnitee to the Company, unless a determination is reasonably and promptly made that Indemnitee failed to meet the applicable standard of conduct set forth in Section 3 hereof or is otherwise not entitled to
indemnification hereunder. Such determination shall be made (i) by the board of directors of the Company by a majority vote of a quorum consisting of disinterested directors; (ii) by a committee of disinterested directors designated by
majority vote of such directors, even though less than a quorum; (iii) if such a quorum is not obtainable, or, even if obtainable a quorum of disinterested directors so directs, by independent legal counsel (selected by a majority of such
directors) in a written opinion; or (iv) by the stockholders of the Company. If the request for indemnification involves a Proceeding that arises from the merger, consolidation, reorganization, liquidation, sale of all or substantially all of
the assets, or other extraordinary transaction of the Company, the inquiry and resolution thereof required by this Section 7, at the option of Indemnitee, shall be made by a neutral person mutually acceptable to the Company and Indemnitee. If
no disposition of such claim for indemnification is made within sixty (60) days, a favorable determination of entitlement to indemnification shall be deemed to have been made. 

  
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The expenses (including attorneys’ fees) incurred by Indemnitee in connection with successfully establishing his or her right to indemnification, in whole or in part, or to collect monies
due hereunder, shall also be indemnified by the Company. 
 8. Expense Advances. 

(a) To the fullest extent permitted by applicable law and except as set forth in Section 8(b), the Company will, if requested by
Indemnitee, advance to Indemnitee (hereinafter an “Expense Advance”) any and all Expenses (as defined in Section 8(d)) actually and reasonably paid or incurred by Indemnitee in connection with any Proceeding (whether prior to or after
its final disposition). Indemnitee’s right to each Expense Advance will be made without regard to Indemnitee’s ultimate entitlement to indemnification under the other provisions of this Agreement, or under provisions of the Certificate of
Incorporation or Bylaws or otherwise. Each Expense Advance will be unsecured and interest-free and will be made by the Company without regard to Indemnitee’s ability to repay the Expense Advance; provided, however, that an Expense
Advance requested by Indemnitee in connection with and prior to the disposition of a Proceeding arising from Indemnitee’s status as an officer or director of the Company (but not in any other capacity in which Indemnitee may have rendered
services to the Company) will be made only upon delivery to the Company of (i) a written affirmation by Indemnitee of such Indemnitee’s good faith belief that Indemnitee has met the standard of conduct necessary for indemnification under
the Delaware General Corporation Law, and (ii) a written undertaking (hereinafter an “Undertaking”) by Indemnitee to repay such Expense Advance if it is ultimately determined by a final decision by a court or arbitrator, as
applicable, from which there is no further right to appeal, that Indemnitee has not met the standard of conduct necessary for indemnification under the Delaware General Corporation Law, or is not entitled to be indemnified for such Expenses under
the Certificate of Incorporation, Bylaws, the Delaware General Corporation Law, this Agreement or otherwise. 
 (b) Indemnitee will
not be entitled to any Expense Advance in connection with any of the matters for which indemnity is excluded pursuant to Section 4. 

(c) An Expense Advance pursuant to Section 8(a) hereof will be made within ten business days after the receipt by the Company of a
written statement or statements from Indemnitee requesting such Expense Advance (which statement or statements will include, if requested by the Company, reasonable detail underlying the Expenses for which the Expense Advance is requested), whether
such request is made prior to or after final disposition of such Proceeding. Such request must be accompanied by all information required by Section 8(a), including but not limited to the Undertaking. 

(d) For purposes of this Section 8, “Expenses” means all attorneys’ fees, disbursements and retainers, court costs,
transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, fax transmission charges, secretarial services, delivery service fees and all other disbursements or
expenses paid or incurred in connection with prosecuting, defending, preparing to prosecute or defend, investigating, being or preparing to be a witness in, or otherwise participating in, a Proceeding, or in connection with seeking indemnification
or enforcing a right to an Expense Advance under this Agreement, as well as any expenses paid or incurred in connection with any 

  
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appeal resulting from any Proceeding, including the premium, security for and other costs relating to any appeal bond or its equivalent. “Expenses,” however, will not include amounts
paid in settlement by Indemnitee or the amount of judgments or fines against Indemnitee. 
 9. Reliance. The Company expressly
confirms and agrees that it has entered into this Agreement and assumed the obligations imposed on the Company hereby in order to induce Indemnitee to serve and/or continue to serve the Company, and acknowledges that Indemnitee is relying upon this
Agreement in continuing to serve in such capacity. 
 10. Severability. Each of the provisions of this Agreement is a separate and
distinct agreement and independent of the others, so that if any provision hereof shall be held to be invalid or unenforceable under applicable federal or state law or for any other reason, such invalidity or unenforceability shall not affect the
validity or enforceability of the other provisions hereof. 
 11. Governing Law; Binding Effect; Amendment; Notice. 

(a) This Agreement shall be interpreted and enforced in accordance with the laws of the State of Delaware without effect to its conflict of law
provisions, except to the extent that the provisions of the Sarbanes-Oxley Act of 2002 and other federal laws preempt the applicable state law to the enforceability or interpretation of this Agreement. 

(b) This Agreement shall be binding upon Indemnitee and upon the Company, its successors and assigns, and shall inure to the benefit of
Indemnitee, his or her heirs, personal representatives and assigns and to the benefit of the Company, its successors and assigns. 
 (c) No
amendment or modification of this Agreement (including any retroactive or prospective amendment) shall be effective unless in writing signed by both parties hereto. The termination or cancellation of this Agreement shall not be effective unless
terminated in accordance with Section 5 hereof or terminated or cancelled in a writing signed by both parties hereto. 
 (d) Any notice
required to be given hereunder shall be deemed given when deposited with the United States Postal Service, postage prepaid, addressed to the person to receive notice at its address below, or such other address as may have theretofore been specified
by such person in a notice pursuant hereto, or delivered in person to that person (or an executive officer thereof in the case of the Company). 

12. Arbitration. Any controversy or claim arising out of or relating to this Agreement, or the breach thereof, shall be settled by
arbitration, in Birmingham, Alabama, in accordance with the Commercial Arbitration rules of the American Arbitration Association, except that the arbitrator(s) shall be required to be familiar with the laws of the State of Delaware as they relate to
this Agreement. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. 

[Signature page follows.] 

  
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 IN WITNESS WHEREOF, the parties hereto have executed this Agreement effective as of the day and
year first above written. 
  

			
	NATIONAL COMMERCE CORPORATION
	(the “Company”)
		
	By:		  

	Name		  

	Its:		  

	
	Address for Notice:
	
	National Commerce Corporation
	813 Shades Creek Parkway, Suite 100
	Birmingham, Alabama 35209
	Attn: Corporate Secretary
	
	INDEMNITEE
	
	  

	Signature
	
	  

	Print Name
	
	Address for Notice:
	
	  

	  

	  

  
 7Exhibit 4.01

 

STATE OF DELAWARE

CERTIFICATE OF INCORPORATION

 

BIOPHARMX CORPORATION

 

BioPharmX Corporation, a corporation organized and existing under the General Corporation Law of the State of Delaware (the “Corporation”), does hereby certify:

 

FIRST: The name of the Corporation is BioPharmX Corporation (the “Corporation”).

 

SECOND: The address of its registered office in the State of Delaware is 1811 Silverside Road, Wilmington, DE 19810, New Castle County. The name of its registered agent at such address is VCorp Services, LLC.

 

THIRD: The purpose of the Corporation is to engage in any lawful act or activity for which corporations may be organized under the General Corporation Law of Delaware.

 

FOURTH: (a) The total number of shares of capital stock which the Corporation shall have authority to issue is one hundred million (100,000,000), of which (i) 90,000,000 shares are designated as common stock with a par value of $.001 per share (“Common Stock”) and (ii) 10,000,000 shares are designated as preferred stock with a par value of $.001 per share (“Preferred Stock”).

 

(b)           The Preferred Stock of the Corporation shall be issued by the Board of Directors of the Corporation in one or more classes or one or more series within any class and such classes or series shall have such voting powers, full or limited, or no voting powers, and such designations, preferences, limitations or restrictions as the Board of Directors of the Corporation may determine, from time to time, including but not limited to:

 

(i)            the designation of such class or series;

 

(ii)           the dividend rate of such class or series, the conditions and dates upon which such dividends shall be payable, the preference or relation which such dividends shall bear to the dividends payable on any other class or classes or of any other series of capital stock, whether such dividends shall be cumulative or non-cumulative, and whether such dividends may be paid in shares of any class or series of capital stock or other securities of the Corporation;

 

(iii)          whether the shares of such class or series shall be subject to redemption by the Corporation, and, if made subject to such redemption, the times, prices and other terms and conditions of such redemption;

 

(iv)          the terms and amount of any sinking fund provided for the purchase or redemption of the shares of such class or series;

 

(v)           whether or not the shares of such class or series shall be convertible into or exchangeable for shares of any other class or classes or series of capital stock

 

 

or other securities of the Corporation, and, if provision be made for conversion or exchange, the times, prices, rates, adjustment and other terms and conditions of such conversion or exchange;

 

(vi)          the extent, if any, to which the holders of the shares of such class or series shall be entitled to vote, as a class or otherwise, with respect to the election of the directors or otherwise, and the number of votes to which the holder of each share of such class or series shall be entitled;

 

(vii)         the restrictions, if any, on the issue or reissue of any additional shares or any class or series of Preferred Stock; and

 

(viii)        the rights of the holders of the shares of such class or series upon the dissolution of, or upon the distribution of assets of, the Corporation.

 

(c)           The terms and conditions of any rights, options and warrants approved by the Board of Directors may provide that any or all of such terms and conditions may be waived or amended only with the consent of the holders of a designated percentage of a designated class or classes of capital stock of the Corporation (or a designated group or groups of holders within such class or classes, including but not limited to disinterested holders), and the applicable terms and conditions of any such rights, options or warrants so conditioned may not be waived or amended absent such consent.

 

(d)           Holders of shares of Common Stock shall be entitled to cast one vote for each share held at all stockholders’ meetings for all purposes, including the election of directors. The Common Stock does not have cumulative voting rights.

(e)           No holder of shares of stock of any class shall be entitled as a matter of right to subscribe for or purchase or receive any part of any new or additional issue of shares of stock of any class, or of securities convertible into shares of stock of any class, whether now hereafter authorized or whether issued for money, for consideration other than money, or by way of dividend.

 

FIFTH: The name and mailing address of the incorporator is James Pekarsky, 098 Hamilton Court, Menlo Park, CA 94025.

 

SIXTH: The Board of Directors shall have the power to adopt, amend or repeal the by-laws of the Corporation.

 

SEVENTH: No director shall be personally liable to the Corporation or its stockholders for monetary damages for any breach of fiduciary duty by such director as a director. Notwithstanding the foregoing sentence, a director shall be liable to the extent provided by applicable law, (i) for breach of the director’s duty of loyalty to the Corporation or its stockholders, (ii) for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii) pursuant to Section 174 of the General Corporation Law or (iv) for any transaction from which the director derived an improper personal benefit. If the General Corporation Law hereafter is amended to authorize the further elimination or limitation of the liability of directors, then the liability of a director of the Corporation, in addition to the limitation on personal liability provided herein, shall be limited to the fullest extent permitted by

 

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the amended General Corporation Law. No amendment to or repeal of this Article SEVENTH shall apply to or have any effect on the liability or alleged liability of any director of the Corporation for or with respect to any acts or omissions of such director occurring prior to such amendment.

 

EIGHTH: The Corporation shall indemnify, to the fullest extent permitted by Section 145 of the General Corporation Law, as amended from time to time, each person that such section grants the Corporation the power to indemnify.

 

IN WITNESS WHEREOF, the Corporation has caused this Certificate to be signed by its president this 24th day of April, 2014.

 

	
 
    	
/s/   James Pekarsky
    
	
 
    	
James   Pekarsky
    
	
 
    	
Incorporator
    

 

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