Document:

Change in Control Letter Agreement - Robert Wright

 Exhibit 10.2 
 February 9, 2009 
 Mr. Robert G Wright 
  

	Re:	Change in Control Letter Agreement 

 Dear Robert:

 BakBone Software, Incorporated, a Canadian corporation (the “Company”), desires, for its continued success, to have the benefit of experienced
management personnel. The Board of Directors of the Company therefore believes that it is in the best interests of the organization that, in the event of any prospective Change in Control (as hereinafter defined) of the Company, you be reasonably
secure in your employment and position with the Company. In addition, in the event of a Change in Control, the Board of Directors also wants to enable you to exercise independent judgment as to the best interests of the Company and its stockholders
without the distraction of any personal uncertainties or risks regarding your continued employment with the Company. In consideration of the foregoing, we are offering you the additional benefits outlined below: 
 Definition of “Change in Control.” 
 For purposes of this
Change in Control Letter Agreement (“Letter Agreement”), a Change in Control shall consist of any one or more of the following events (whether in a single transaction or a series of related transactions): (i) the consummation of a
merger or consolidation of the Company with or into another entity or any other corporate reorganization, if more than fifty percent (50%) of the combined voting power of the continuing or surviving entity’s securities outstanding
immediately after such merger, consolidation or other reorganization is owned by persons who were not stockholders of the Company immediately prior to such merger, consolidation or other reorganization; (ii) the sale, transfer or other
disposition of all or substantially all of the Company’s assets; (iii) any transaction as a result of which any person or related group of persons becomes the “beneficial owner” (as defined in Rule 13d-3 under the Securities
Exchange Act of 1934, as amended), directly or indirectly, of securities of the Company representing at least fifty percent (50%) of the total voting power represented by the Company’s then outstanding voting securities (other than as a
result of the new issuance of securities by the Company in any transaction or series of related transactions determined by the Board of Directors to be for the primary purpose of raising capital); or (iv) a liquidation or dissolution of the
Company. 
 Notwithstanding the foregoing, a transaction shall not constitute a Change in Control if: (i) its sole purpose is to change the jurisdiction
of the Company’s incorporation: (ii) its sole purpose is to create a holding company that will be owned in substantially the same proportions by the persons who held the Company’s securities immediately before such transaction; or
(iii) following the consummation of the transaction or series of related transactions, members of the Board of Directors of the Company prior to such transaction constitute a majority of the members of the Board of Directors of the continuing
or surviving entity. 

 Change of Control Benefits. 
 If, within twelve (12) months following the consummation of the Change in Control, you are either terminated by the Company (which term shall hereinafter also refer to and include any successor entity) without Cause (as hereinafter
defined) or you voluntarily terminate your employment with the Company for “Good Reason” (as hereinafter defined), and provided you execute a general release in a form provided by the Company within thirty (30) days following the date
of termination, you will be entitled to receive the following benefits: 
 Severance Benefits. 
 You will be entitled to receive a severance payment in an amount equal to nine (9) months of your then-current
base salary in effect as of the date of such termination (less applicable withholding). At the Company’s discretion, the severance payment may be paid to you in a lump sum or on a periodic basis in accordance with the Company’s regular
payroll practices, provided, however, that all amounts must be paid no later that the 15th day of the third month following the end of the calendar
year in which your termination of employment occurred. 
 Continuation of Benefits. 
 In addition, the Company will provide for the continuation of your healthcare benefits in effect at the time of the termination (including medical, dental and vision) pursuant to COBRA for a nine (9) month period
in the event your severance payment is paid on a periodic basis. If the severance payment is paid in a lump sum, you would be responsible for the conversion and payment of premiums under COBRA. Your receipt of these benefits is conditioned on your
completing all necessary documentation on a timely basis necessary to obtain or maintain such coverage under COBRA. In addition, the Company shall delay the provision of any benefits until six (6) months after the date of your termination to
the extent required by Section 409A (or regulations or rulings thereunder) of the Internal Revenue Code of 1986, as amended (the “Code”), as reasonably determined by the Company, and you will be reimbursed for any premiums or other
expenses which you were required to pay during the six (6) month period following the date of termination in order to maintain such benefits in a lump sum on the day that is six (6) months and one (1) day after the date of the
termination of your employment (or the next business day if such date is not a business day) or, if earlier, the date of death. In no event will the Company be obligated by this Letter Agreement to provide more than nine (9) months of continued
healthcare benefits at its own expense. 
 Acceleration of Option Vesting. 
 Finally, any future grant to you of options to purchase shares of the Company’s capital stock will include the appropriate language providing that any of the related unvested options outstanding at the time you
are terminated by the Company without Cause or voluntarily terminate your employment with the Company for “Good Reason” as the result of a Change in Control as herein defined will become fully vested and exercisable pursuant to the terms
and conditions of the related Stock Option Agreement. 
 Definition of “Cause.” 
 As used in this Letter Agreement, the term “Cause” shall have the meaning, with respect to the termination of your employment by the Company, expressly set
forth in any then-effective written agreement regarding your employment between you and the Company, or in the absence of such then- effective written agreement and definition, shall mean termination of your employment as a result 

  

 2 

 
of your: (i) performance of any act or failure to perform any act in bad faith and to the detriment of the Company; (ii) dishonesty, intentional
misconduct or material breach of any agreement with the Company; or (iii) commission of a crime involving dishonesty, breach of trust, or physical or emotional harm to any person. 
 Definition of “Good Reason.” 
 As used in this Letter Agreement, the term “Good Reason” shall mean
the termination of your employment by you following the occurrence of any of the following events or conditions (unless otherwise consented to by you, provided that you shall be deemed to have consented to any such event or condition unless you
provide written notice of your non-acquiescence within thirty (30) days of the effective time of such event or condition): (i) a change in your responsibilities or duties which represents a material and substantial diminution in your
responsibilities or duties as in effect immediately preceding the consummation of the Change in Control; (ii) a reduction in your base salary to a level materially below that in effect at any time within six (6) months preceding the
consummation of a Change in Control or at any time thereafter; provided that an across-the-board reduction in the salary level of substantially all other individuals in positions similar to yours by the same percentage amount shall not constitute
such a salary reduction; or (iii) requiring you to be based at any place outside a fifty (50) mile radius from your job location or residence prior to the Change in Control, except for reasonably required travel on business which is not
materially greater than such travel requirements prior to the Change in Control. 
 Notwithstanding anything herein to the contrary, nothing contained in
this Letter Agreement shall provide you with any right to be continuously employed by the Company for any specific period and your employment shall continue to be terminable “at will” for any reason or no reason, with or without Cause or
prior notice. 
 Notwithstanding any other provision of this Letter Agreement whatsoever, the Company, in its sole discretion, shall have the right to
provide for the application and effects of Section 409A of the Code (relating to deferred compensation arrangements) and any related administrative guidance issued by the Internal Revenue Service. The Company shall delay the payment of any
amounts under this Letter Agreement to the extent it deems necessary or appropriate to comply with Section 409A(a)(2)(B)(i) of the Code (relating to payments made to certain “key employees” of certain publicly-traded companies); in
such event, the payment(s) at issue will be paid in a lump sum payment on the day that is six (6) months and one (1) day after the date of the termination of your employment (or the next business day if such date is not a business day) or,
if earlier, the date of death. 
 The Company shall deduct and withhold from any amounts payable to you hereunder any amounts required to be deducted or
withheld by the Company under the provisions of any applicable federal, state or local statute, law, regulation, ordinance or order (including, without limitation, any applicable exercise tax pursuant to Section 4999 of the Code). 

Miscellaneous. 
 The rights and obligations of the parties
hereunder shall be governed by and interpreted, construed and enforced in accordance with the laws of the State of California without regard to its or any other jurisdiction’s conflict of laws principles. None of your rights or benefits, or
obligations or duties of the Company to you, may be assigned or transferred by you without the consent of the Company. Any provision herein may be modified, terminated or waived only by a written agreement executed by the party against whom
enforcement is sought. If any provision of this Letter Agreement shall be held invalid, the remainder of this Letter Agreement shall 

  

 3 

 
not be affected thereby. Each party shall execute and deliver all instruments and documents and take all actions as may be reasonably required or appropriate
to carry out the purposes of this Letter Agreement. This Letter Agreement may be executed in any number of counterparts, each of which shall be deemed an original but all together of which shall constitute one and the same instrument. This Letter
Agreement constitutes the full and entire understanding and agreement between the parties with regard to the subject matter hereof and supersedes any outstanding agreements pertaining to the subject matter hereof. 
 We ask that you acknowledge your receipt of this Letter Agreement and your agreement to its terms and conditions by signing and dating this Letter Agreement within seven
days of receipt and return an executed copy to Kimberly Stout, Human Resources Manager, BakBone Software, Inc., 9540 Towne Center Drive, San Diego, CA 92121. Fax number 858 795-7688. 
  

					
	BakBone Software, Inc.	 		 	Acknowledge, agreed and accepted by:
			
	/s/ James R. Johnson	 		 	/s/ Robert G. Wright
	James R. Johnson	 		 	Robert G. Wright
	President and Chief Executive Officer	 		 	
			
	Date February 9, 2009	 		 	Date February 9, 2009

  

 4Letter agreement, dated January 29, 2009

 Exhibit 10.1 
 January 29, 2009 
 To the Respective Holders of Cell Therapeutics, Inc. Series A, B, C and D Preferred Stock:

 Cell Therapeutics, Inc. (“CTI”) solicits your cooperation in a proposed exchange transaction. If the exchange transaction is not
successfully executed, CTI will probably be forced to seek bankruptcy protection. Given the state of CTI’s operations/cash position and the large amount of debt which stands ahead of the preferred stock, it is likely that bankruptcy would have
a very unhappy result for the preferred stock. 
 In the aggregate, CTI’s outstanding preferred stock was purchased for approximately
$8.0 million. We believe the current fair value of the preferred stock is a small fraction of its initial purchase price. 
 The preferred
stock’s existing rights look good on paper but are highly unlikely to be realizable in practice. Working in cooperation with CTI and each other to effect the exchange transaction is the best hope for the preferred stockholders to realize a
profit on their CTI investment, or at least to avoid loss. 
 Specifically, it is proposed that, by signing a copy of this letter where
indicated below and returning it to CTI, you will agree to exchange all your existing preferred stock for the same number of shares of newly-created Series F Preferred Stock (“Series F”). 
 The Series F will not have many bells and whistles but will have a sharply reduced conversion price and therefore will have a significantly greater
upside leverage potential than the existing preferred stock. We are attaching a draft copy of the proposed Series F charter document (and we urge you to read it to see all the provisions in complete detail), but a simplified summary of the key
provisions would include: 
 1. Convertible at the holder’s option into common stock at $0.14 per share (a very significant decrease
from the current preferred stock series’ conversion price), beginning on the later of April 1, 2009 or effectiveness of CTI’s authorized-common-shares increase; not convertible before that date. (Needless to say, all per-share figures
in this letter shall be proportionally adjusted for any reverse stock split, etc. occurring after the date of this letter.) Because you would hold the new preferred stock and then its underlying common stock through Securities Act
Section 3(a)(9) exchanges, the holding periods would tack back to your original purchase date; that means that (assuming you are not a CTI affiliate) the common stock would be freely tradeable in your hands under SEC Rule 144(b) [formerly Rule
144(k)] regardless of the status of CTI’s registration statements and prospectuses. 
 2. No automatic or voluntary redemption by the
holder. No Triggering Events. 
 3. No dividends other than pro rata with dividends on common, if any. 
 4. CTI can call the Series F at its stated value any time (on 20 days’ notice) after December 31, 2009 or after the day the common stock has
held a $0.28 market price for 10 consecutive trading days, whichever comes first. If the Series F conversion feature is in-the-money, this will enable time for conversion at the $0.14 conversion price. 

 5. The Series F votes, together with the Common class, on an as-if-converted-to-Common basis (even before
April 1, 2009, when it is not technically convertible yet). 
 6. No special protective provisions other than as required by law, other
than a prohibition on new series of preferred stock senior to the Series F. 
 Closing conditions applicable to the exchange transaction are:

 1. To eliminate concerns that other current preferred stock holders could gain a relative advantage by not participating in this plan of
reorganization, it is a closing condition to the swap that 100% in interest of all currently outstanding preferred stock shall have been committed via the respective holders’ signatures of counterparts of this letter agreement by no later than
the close of business on Monday, February 2, 2009. (Provided, that CTI may in its discretion lower this percentage to as low as 82% in interest of the currently outstanding preferred stock.) 
 2. The NASDAQ Listing of Additional Shares office shall have confirmed to CTI, in response to CTI’s January 23, 2009 letter describing the
exchange transaction (and any supplements to such letter), that the exchange transaction will not be integrated with the original preferred stock purchases (or with any other CTI transaction) so as to require CTI shareholders approval of the
exchange transaction under NASDAQ Stock Market Rule 4350(i)(1). 
 The closing of the swap will, in fact, become effective one business day
after CTI notifies the holders that the applicable percentage threshold condition and the NASDAQ condition have been satisfied. 
 Additional
requirements applicable to the exchange transaction are: 
 1. Each participating holder, by signing below, agrees to from and after the
closing of the swap vote for/consent to any CTI-proposed stock split, reverse stock split or share authorization increase with regard to CTI common stock, as long as the holder owns Series F or the underlying common. 
 2. Each participating holder, by signing below, represents and warrants that it is the record owner of such preferred stock and agrees to deliver its
existing preferred stock share certificate(s) to CTI, free and clear of all liens, encumbrances and adverse claims, by no later than three business days after the closing of the swap. However, even if the holder breaches the agreement by failing to
deliver these existing preferred stock share certificate(s), these existing preferred stock share certificate(s) shall be void and shall no longer represent CTI securities. 
 3. Each participating holder, by signing below, consents (as a member of its series, and looking to the attainment of a consent by the holders of at
least 67% of the shares of such series) to all of the transactions contemplated by the exchange transaction as described in this letter (and to all effects of such transactions). 
 4. Each participating holder, by signing below, hereby agrees to and hereby does, effective upon the closing of the swap, release and discharge CTI and
its affiliates and agents from any and all claims, liabilities and causes of action, in law, equity or otherwise, which arose from or were related to the holder’s CTI Series A, B, C and/or D Preferred Stock (expressly agreeing and understanding
that such release applies also to all unknown, unsuspected and unanticipated claims, 

 
liabilities and causes of action which arose from or were related to the holder’s CTI Series A, B, C and/or D Preferred Stock, and expressly waiving any
and all rights and benefits conferred upon the holder by all relevant federal and state statutes and common law principles related to such application of such release). 
 In connection with the proposed exchange transaction, CTI makes the following representations and warranties to each respective holder: 
 (a) The offer and issuance of the Series F is and will be (and the offer and issuance of common stock upon conversion thereof is and will be) exempt from registration under the Securities Act of 1933, as amended,
pursuant to the exemption provided by Section 3(a)(9) thereof. As a result of the foregoing, and assuming such holder is not and does not become an affiliate of CTI, the common stock issuable upon conversion of Series F shall be freely tradable
by such holder. 
 (b) CTI has the requisite power and authority to enter into this letter agreement and, upon the time for the closing under
this letter agreement and thereafter, CTI shall have the requisite power and authority to perform its obligations under this letter agreement and to issue the Series F (and, upon conversion, the shares of common stock issuable upon conversion of the
Series F) in accordance with the terms hereof. The execution and delivery of this letter agreement by CTI, and the consummation by CTI of the transactions contemplated hereby, including, without limitation, the issuance of the Series F (and, upon
conversion, the shares of common stock issuable upon conversion of the Series F), have been duly authorized by CTI’s board of directors, and (other than any filings as may be required by any federal and state securities agencies and the filing
of Articles of Amendment to create the Series F and, after approval by CTI’s shareholders, to increase CTI’s authorized number of shares of common stock) no further filing, consent or authorization is required by CTI, its board of
directors or its shareholders. This letter agreement has been duly executed and delivered by CTI, and constitutes the legal, valid and binding obligations of CTI, enforceable against CTI in accordance with its terms, except as such enforceability
may be limited by general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium, liquidation or similar laws relating to, or affecting generally, the enforcement of applicable creditors’ rights and remedies.

 (c) The Series F (and, upon conversion, the shares of common stock issuable upon conversion of the Series F), when issued pursuant to the
terms hereof, will be validly issued, fully paid and nonassessable and free from all taxes, liens, charges and other encumbrances with respect to the issue thereof (other than the voting agreement described herein). 
 (d) CTI and its board of directors have taken all necessary action, if any, in order to render inapplicable any control share acquisition, business
combination, poison pill (including any distribution under a rights agreement) or other similar anti-takeover provision under the Articles of Incorporation or other organizational document or the laws of the jurisdiction of its incorporation or
otherwise which is or could become applicable to such holder as a result of the transactions contemplated by this letter agreement, including, without limitation, CTI’s issuance of the Series F. 
 For avoidance of misunderstanding: each holder agreeing to this proposal will be exchanging a security with the following rights for a new security which
lacks such rights (and also lacks certain other rights of the existing preferred shares): 
 1. The holder’s right to optionally redeem
for cash in February, April, July or December 2009. 

 2. The holder’s right to redeem for cash as a result of a past or future Triggering Event.

 3. The holder’s right to seek, for redemption as a result of a Triggering Event, more than 100% of Stated Value. 
 4. Accrued dividends to date. 
 5. Future
dividend accumulations. 
 6. Certain series-level protective provisions. 
 7. Registration rights. 
 8. Liquidated
damages and interest. 
 9. Certain restrictions against issuer-initiated redemptions. 
 We believe you will conclude that, under all the circumstances, the proposed exchange transaction is nonetheless a superior deal for you — both to
avoid an immediate loss and to preserve the potential for future upside if CTI survives and thrives. Although $0.14 per share is above CTI’s current market value, it is a significant reduction in conversion price from the current preferred
stock’s conversion prices; this would provide upside potential leverage which is currently absent. 
 To accept this proposal, please
sign below and return to CTI by emailing to each of jbianco@ctiseattle.com, ayamamoto@ctiseattle.com and htrubitt@sycr.com as soon as possible. (Please note the close-of-business February 2, 2009 hard deadline.) Due to the press of time and the
number of holders, we will not be in a position to undertake individual negotiations. However, if you have any questions about the background or operation of the exchange transaction, please call Louis Bianco at (206) 272-4004 or our lawyer
Hayden Trubitt at (858) 720-2166. 
  

	
	Very truly yours,
	
	/s/ James A. Bianco, M.D.
	James A. Bianco, M.D.
	Chief Executive Officer

 COUNTERPART SIGNATURE BLOCK FOR HOLDERS (RE CTI PREFERRED STOCK EXCHANGE TRANSACTION LETTER AGREEMENT) 
 We hereby irrevocably agree to participate fully in the preferred stock exchange transaction described in the above letter agreement, and we agree to and do make all of
the agreements and covenants and give the release set forth above, all subject to the closing conditions expressly stated above. 
  

			
	Name of Holder:	 	 
		
	By:	 	 
		
	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00152-of-00352.parquet"}]]