Document:

Exhibit 10.02

 

nEURALSTEM,
INC.

 

CONFIDENTIAL
INFORMATION AND

INVENTION ASSIGNMENT AGREEMENT

 

Employee Name: Richard Daly

 

Effective Date: February 15, 2016

 

As a condition of
my becoming employed (or my employment being continued) by Neuralstem, Inc. a Delaware corporation, or any of its current or future
subsidiaries, affiliates, successors or assigns (collectively, the “Company”), and in consideration of my employment
with the Company and my receipt of the compensation now and hereafter paid to me by the Company, I agree to the following:

 

1.          Relationship.
This Agreement will apply to my employment relationship with the Company. If that relationship ends and the Company, within
a year thereafter, either re-employs me or engages me as a consultant, I agree that this Agreement will also apply to such later
employment or consulting relationship, unless the Company and I otherwise agree in writing. Any such employment or consulting
relationship between the Company and me, whether commenced prior to, upon or after the date of this Agreement, is referred to
herein as the “Relationship.”

 

2.          Duties.
I will perform for the Company such duties as may be designated by the Company from time to time or that are otherwise within
the scope of the Relationship and not contrary to instructions from the Company. During the Relationship, I will devote my entire
best business efforts to the interests of the Company and will not engage in other employment or in any activities detrimental
to the best interests of the Company without the prior written consent of the Company.

 

3.          Confidential
Information.

 

(a)          Protection
of Information. I agree, at all times during the term of the Relationship and thereafter, to hold in strictest confidence,
and not to use, except for the benefit of the Company to the extent necessary to perform my obligations to the Company under the
Relationship, and not to disclose to any person, firm, corporation or other entity, without written authorization from the Company
in each instance, any Confidential Information (as defined below) that I obtain, access or create during the term of the Relationship,
whether or not during working hours, until such Confidential Information becomes publicly and widely known and made generally
available through no wrongful act of mine or of others who were under confidentiality obligations as to the item or items involved.
I further agree not to make copies of such Confidential Information except as authorized by the Company.

 

    	 	-1-	 

     

    

 

(b)          Confidential
Information. I understand that “Confidential Information” means information and physical material not
generally known or available outside the Company and information and physical material entrusted to the Company in confidence
by third parties. Confidential Information includes, without limitation: (i) Company Inventions (as defined below); (ii) technical
data, trade secrets, know-how, research, product or service ideas or plans, software codes and designs, developments, inventions,
laboratory notebooks, processes, formulas, techniques, biological materials, mask works, engineering designs and drawings, hardware
configuration information, lists of, or information relating to, suppliers and customers (including, but not limited to, customers
of the Company on whom I called or with whom I became acquainted during the Relationship), price lists, pricing methodologies,
cost data, market share data, marketing plans, licenses, contract information, business plans, financial forecasts, historical
financial data, budgets or other business information disclosed to me by the Company either directly or indirectly, whether in
writing, electronically, orally, or by observation.

 

(c)          Third
Party Information. My agreements in this Section 3 are intended to be for the benefit of the Company and any third
party that has entrusted information or physical material to the Company in confidence.

 

(d)          Other
Rights. This Agreement is intended to supplement, and not to supersede, any rights the Company may have in law or equity
with respect to the protection of trade secrets or confidential or proprietary information.

 

4.          Ownership
of Inventions.

 

(a)          Inventions
Retained and Licensed. I have attached hereto, as Exhibit A, a complete list describing with particularity all
Inventions (as defined below) that, as of the Effective Date, belong solely to me or belong to me jointly with others, and that
relate in any way to any of the Company’s proposed businesses, products or research and development, and which are not assigned
to the Company hereunder; or, if no such list is attached, I represent that there are no such Inventions at the time of signing
this Agreement. 

 

(b)          Use
or Incorporation of Inventions. If in the course of the Relationship, I use or incorporate into a product, process or
machine any Invention not covered by Section 4(d) of this Agreement in which I have an interest, I will promptly so inform
the Company. Whether or not I give such notice, I hereby irrevocably grant to the Company a nonexclusive, fully paid-up, royalty-free,
assumable, perpetual, worldwide license, with right to transfer and to sublicense, to practice and exploit such Invention and
to make, have made, copy, modify, make derivative works of, use, sell, import, and otherwise distribute under all applicable intellectual
properties without restriction of any kind.

 

(c)          Inventions.
I understand that “Inventions” means discoveries, developments, concepts, designs, ideas, know how, improvements,
inventions, trade secrets and/or original works of authorship, whether or not patentable, copyrightable or otherwise legally protectable.
I understand this includes, but is not limited to, any new product, machine, article of manufacture, biological material, method,
procedure, process, technique, use, equipment, device, apparatus, system, compound, formulation, composition of matter, design
or configuration of any kind, or any improvement thereon. I understand that “Company Inventions” means any
and all Inventions that I may solely or jointly author, discover, develop, conceive, or reduce to practice during the period of
the Relationship, except as otherwise provided in Section 4(g) below.

 

(d)          Assignment
of Company Inventions. I agree that I will promptly make full written disclosure to the Company, will hold in trust for
the sole right and benefit of the Company, and hereby assign to the Company, or its designee, all my right, title and interest
throughout the world in and to any and all Company Inventions. I further acknowledge that all Company Inventions that are made
by me (solely or jointly with others) within the scope of and during the period of the Relationship are “works made for
hire” (to the greatest extent permitted by applicable law) and are compensated by my salary. I hereby waive and irrevocably
quitclaim to the Company or its designee any and all claims, of any nature whatsoever, that I now have or may hereafter have for
infringement of any and all Company Inventions. 

 

    	 	-2-	 

     

    

 

(e)          Maintenance
of Records. I agree to keep and maintain adequate and current written records of all Company Inventions made by me (solely
or jointly with others) during the term of the Relationship. The records may be in the form of notes, sketches, drawings, flow
charts, electronic data or recordings, laboratory notebooks, or any other format. The records will be available to and remain
the sole property of the Company at all times. I agree not to remove such records from the Company’s place of business except
as expressly permitted by Company policy which may, from time to time, be revised at the sole election of the Company for the
purpose of furthering the Company’s business. I agree to deliver all such records (including any copies thereof) to the
Company at the time of termination of the Relationship as provided for in Sections 5 and 6.

 

(f)          Patent
and Copyright Rights. I agree to assist the Company, or its designee, at its expense, in every proper way to secure the
Company’s, or its designee’s, rights in the Company Inventions and any copyrights, patents, trademarks, mask
work rights, moral rights, or other intellectual property rights relating thereto in any and all countries, including the disclosure
to the Company or its designee of all pertinent information and data with respect thereto, the execution of all applications,
specifications, oaths, assignments, recordations, and all other instruments which the Company or its designee shall deem necessary
in order to apply for, obtain, maintain and transfer such rights, or if not transferable, waive such rights, and in order to assign
and convey to the Company or its designee, and any successors, assigns and nominees the sole and exclusive right, title and interest
in and to such Company Inventions, and any copyrights, patents, mask work rights or other intellectual property rights relating
thereto. I further agree that my obligation to execute or cause to be executed, when it is in my power to do so, any such instrument
or papers shall continue during and at all times after the end of the Relationship and until the expiration of the last such intellectual
property right to expire in any country of the world. I hereby irrevocably designate and appoint the Company and its duly
authorized officers and agents as my agent and attorney-in-fact, to act for and in my behalf and stead to execute and file any
such applications and to do all other lawfully permitted acts to further the application for, prosecution, issuance, maintenance
or transfer of letters of patents, copyright, mask work and other registrations related to such Company Inventions. This power
of attorney is coupled with an interest and shall not be affected by my subsequent incapacity.

 

(g)          Exception
to Assignments. I understand that the Company Inventions will not include, and the provisions of this Agreement requiring
assignment of inventions to the Company do not apply to, any invention which qualifies fully for exclusion under the provisions
of applicable state law or federal laws, if any. In order to assist in the determination of which inventions qualify for such
exclusion, I will advise the Company promptly in writing, during and after the term of the Relationship, of all Inventions solely
or jointly conceived or developed or reduced to practice by me during the period of the Relationship.

 

    	 	-3-	 

     

    

 

5.          Company
Property; Returning Company Documents. I acknowledge and agree that I have no expectation of privacy with respect to the
Company’s telecommunications, networking or information processing systems (including, without limitation, files, e-mail
messages, and voice messages) and that my activity and any files or messages on or using any of those systems may be monitored
at any time without notice. I further agree that any property situated on the Company’s premises and owned by the Company,
including disks and other storage media, filing cabinets or other work areas, is subject to inspection by Company personnel at
any time with or without notice. I agree that, at the time of termination of the Relationship, I will deliver to the Company (and
will not keep in my possession, recreate or deliver to anyone else) any and all devices, records, data, notes, reports, proposals,
lists, correspondence, specifications, drawings, blueprints, sketches, laboratory notebooks, materials, flow charts, equipment,
other documents or property, or reproductions of any of the aforementioned items developed by me pursuant to the Relationship
or otherwise belonging to the Company, its successors or assigns. 

 

6.          Termination
Certification. In the event of the termination of the Relationship, I agree to sign and deliver the “Termination
Certification” attached hereto as Exhibit B; however, my failure to sign and deliver the Termination Certification
shall in no way diminish my continuing obligations under this Agreement.

 

7.          Notice
to Third Parties. I understand and agree that the Company may, with or without prior notice to me and during or after
the term of the Relationship, notify third parties of my agreements and obligations under this Agreement.

 

8.          Solicitation
of Employees, Consultants and Other Parties. I agree that during the term of the Relationship, and for a period of twenty-four
(24) months immediately following the termination of the Relationship for any reason, whether with or without cause, I shall not
either directly or indirectly solicit, induce, recruit or encourage any of the Company’s employees or consultants to terminate
their relationship with the Company, or attempt to solicit, induce, recruit, encourage or take away employees or consultants of
the Company, either for myself or for any other person or entity. Further, during the Relationship and at any time following the
termination of the Relationship for any reason, whether with or without cause, I shall not use any Confidential Information of
the Company to negatively influence any of the Company’s clients or customers from purchasing Company products or services
or to solicit or influence or attempt to influence any client, customer or other person either directly or indirectly, to direct
any purchase of products and/or services to any person, firm, corporation, institution or other entity in competition with the
business of the Company.

 

9.          At-Will
Relationship. I understand and acknowledge that, except as may be otherwise explicitly provided in a separate written
agreement between the Company and me, my Relationship with the Company is and shall continue to be at-will, as defined under applicable
law, meaning that either I or the Company may terminate the Relationship at any time for any reason or no reason, without further
obligation or liability, other than those provisions of this Agreement that explicitly survive the termination of the Relationship.

 

10.         Representations
and Covenants.

 

(a)          Facilitation
of Agreement. I agree to execute promptly, both during and after the end of the Relationship, any proper oath, and to
verify any proper document, required to carry out the terms of this Agreement, upon the Company’s written request to do
so.

 

    	 	-4-	 

     

    

 

(b)          No
Conflicts. I represent that my performance of all the terms of this Agreement does not and will not breach any agreement
I have entered into, or will enter into, with any third party, including without limitation any agreement to keep in confidence
proprietary information or materials acquired by me in confidence or in trust prior to or during the Relationship. I will not
disclose to the Company or use any inventions, confidential or non-public proprietary information or material belonging to any
previous client, employer or any other party. I will not induce the Company to use any inventions, confidential or non-public
proprietary information, or material belonging to any previous client, employer or any other party. I acknowledge and agree that
I have listed on Exhibit A all agreements (e.g., non-competition agreements, non-solicitation of customers agreements, non-solicitation
of employees agreements, confidentiality agreements, inventions agreements, etc.), if any, with a current or former client, employer,
or any other person or entity, that may restrict my ability to accept employment with the Company or my ability to recruit or
engage customers or service providers on behalf of the Company, or otherwise relate to or restrict my ability to perform my duties
for the Company or any obligation I may have to the Company. I agree not to enter into any written or oral agreement that conflicts
with the provisions of this Agreement.

 

(c)          Voluntary
Execution. I certify and acknowledge that I have carefully read all of the provisions of this Agreement, that I understand
and have voluntarily accepted such provisions, and that I will fully and faithfully comply with such provisions.

 

11.         General
Provisions.

 

(a)          Governing
Law. The validity, interpretation, construction and performance of this Agreement shall be governed by the laws of the
State of Maryland, without giving effect to the principles of conflict of laws.

 

(b)          Entire
Agreement. This Agreement, along with the employment agreement between myself and the Company of even date herewith (“Employment
Agreement”) sets forth the entire agreement and understanding between the Company and me relating to its subject matter
and merges all prior discussions between us. No amendment to this Agreement will be effective unless in writing signed by both
parties to this Agreement. The Company shall not be deemed hereby to have waived any rights or remedies it may have in law or
equity, nor to have given any authorizations or waived any of its rights under this Agreement, unless, and only to the extent,
it does so by a specific writing signed by a duly authorized officer of the Company, it being understood that, even if I am an
officer of the Company, I will not have authority to give any such authorizations or waivers for the Company under this Agreement
without specific approval by the Board of Directors. Any subsequent change or changes in my duties, obligations, rights or compensation
will not affect the validity or scope of this Agreement.

 

(c)          Severability.
If one or more of the provisions in this Agreement are deemed void or unenforceable to any extent in any context, such provisions
shall nevertheless be enforced to the fullest extent allowed by law in that and other contexts, and the validity and force of
the remainder of this Agreement shall not be affected.

 

(d)          Successors
and Assigns. This Agreement will be binding upon my heirs, executors, administrators and other legal representatives,
and my successors and assigns, and will be for the benefit of the Company, its successors, and its assigns.

 

(e)          Remedies.
I acknowledge and agree that violation of this Agreement by me may cause the Company irreparable harm, and therefore agree
that the Company will be entitled to seek extraordinary relief in court, including, but not limited to, temporary restraining
orders, preliminary injunctions and permanent injunctions without the necessity of posting a bond or other security (or, where
such a bond or security is required, I agree that a $1,000 bond will be adequate), in addition to and without prejudice
to any other rights or remedies that the Company may have for a breach of this Agreement.

 

    	 	-5-	 

     

    

 

(f)          ADVICE
OF COUNSEL. I ACKNOWLEDGE THAT, IN EXECUTING THIS AGREEMENT, I HAVE HAD THE OPPORTUNITY TO SEEK THE ADVICE OF INDEPENDENT
LEGAL COUNSEL, AND I HAVE READ AND UNDERSTOOD ALL OF THE TERMS AND PROVISIONS OF THIS AGREEMENT. THIS AGREEMENT SHALL NOT BE CONSTRUED
AGAINST ANY PARTY BY REASON OF THE DRAFTING OR PREPARATION HEREOF.

 

The parties have executed
this Agreement on the respective dates set forth below, to be effective as of the Effective Date first above written.

 

	COMPANY:	 	EMPLOYEE:
	 	 	 
	NEURALSTEM, iNC.	 	Richard Daly, an Individual
	 	 	 
	By:	 	 	 
	 	 	 	 

 

	Name:  Dr. Karl Johe	 	 	 
	Title: Chairman of the Board	 	 	(Signature)	 

 

	Date: 	 	 	Date:	 
	 	 	 	 	 
	Address:	20271 Goldenrod Lane, 2nd Floor	 	Address:	 
	 	Germantown, MD 20876	 	 	 

 

    	 	-6-	 

     

    

 

EXHIBIT
A

 

LIST OF
PRIOR INVENTIONS

AND ORIGINAL WORKS OF AUTHORSHIP

EXCLUDED UNDER SECTION 4(a)

 

	Title	 	 	Date	 	 	Identifying Number
 or Brief Description	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 

 

___ No inventions, improvements, or original works of authorship

 

___ Additional sheets attached

 

	Signature of Employee:	 	 
	 	 	 
	Print Name of Employee:	 	 
	 	 	 
	Date:	 	 

 

    	 	-7-	 

     

    

  

EXHIBIT
B

 

TERMINATION
CERTIFICATION

 

This is to certify
that I do not have in my possession, nor have I failed to return, any devices, records, data, notes, reports, proposals, lists,
correspondence, specifications, drawings, blueprints, sketches, laboratory notebooks, flow charts, materials, equipment, other
documents or property, or copies or reproductions of any aforementioned items belonging to Neuralstem, Inc., a Delaware corporation,
its subsidiaries, affiliates, successors or assigns (collectively, the “Company”).

 

I further certify
that I have complied with all the terms of the Company’s Confidential Information and Invention Assignment Agreement signed
by me, including the reporting of any Inventions (as defined therein), conceived or made by me (solely or jointly with others)
covered by that agreement.

 

I further agree that,
in compliance with the Confidential Information and Invention Assignment Agreement, I will preserve as confidential all trade
secrets, confidential knowledge, data or other proprietary information relating to products, processes, know-how, designs, formulas,
developmental or experimental work, computer programs, data bases, other original works of authorship, customer lists, business
plans, financial information or other subject matter pertaining to any business of the Company or any of its employees, clients,
consultants or licensees.

 

I further agree that
for twenty-four (24) months from the date of this Certification, I shall not either directly or indirectly solicit, induce, recruit
or encourage any of the Company’s employees or consultants to terminate their relationship with the Company, or attempt
to solicit, induce, recruit, encourage or take away employees or consultants of the Company, either for myself or for any other
person or entity. Further, I shall not at any time use any Confidential Information of the Company to negatively influence any
of the Company’s clients or customers from purchasing Company products or services or to solicit or influence or attempt
to influence any client, customer or other person either directly or indirectly, to direct any purchase of products and/or services
to any person, firm, corporation, institution or other entity in competition with the business of the Company.

 

	Date:	 	 	 
	 	 	 	 
	 	 	 	Richard DalyEX-10.1

 Exhibit 10.1 

February 18, 2016 
 BY HAND 

Mr. Keith Cline 
  

	Re:	CEO Appointment 

 Mr. Cline: 

On behalf of La Quinta Holdings Inc. (the “Company”), I am pleased to offer you employment with the Company as its President and Chief
Executive Officer, reporting to the Company’s Board of Directors (the “Board”). This offer, and the opportunity it represents, is extended with great confidence in your abilities, and we are excited to have you lead the Company
to greater successes. 
 In addition to your position as President and Chief Executive Officer, you will continue to serve as member of the Board, subject
to the terms of the Company’s By-Laws, and, subject to any legal limitations, the Company will nominate you for reelection to the Board upon expiration of any applicable director term that expires during your employment with the Company. 

As a condition of your employment with the Company, you agree to observe and comply with all of the rules, regulations, policies and procedures established by
the Company from time to time and all applicable laws, rules and regulations imposed by any governmental regulatory authority from time to time. Without limiting the foregoing, you agree that during your employment with the Company, you will devote
your full business time, attention, skill and best efforts to the performance of your employment duties and you are not to engage in any other business or occupation while you are employed with the Company. This will not, however, limit your ability
from (i) serving, with the prior written consent of the Board, as a member of the boards of directors or advisory boards (or their equivalents in the case of a non-corporate entity) of non-competing businesses and charitable organizations,
(ii) engaging in charitable activities and community affairs, and (iii) managing your personal investments and affairs; provided, however, that the activities set out in clauses (i), (ii), and (iii) shall be limited by you so as not
to materially interfere, individually or in the aggregate, with the performance of your duties and responsibilities to the Company. 
 During your
employment with the Company, the Company will provide you with the following compensation and benefits: 
 Base Salary: Your annual
base salary shall be $750,000, subject to increase (but not decrease) as may be approved by the Compensation Committee of the Board (the “Compensation Committee”) from time to time. Your base salary will be payable in accordance
with the Company’s regular payroll practices. 
 Annual Bonus: During each fiscal year of your employment with the Company, you
will participate in the Company’s annual bonus program, as adopted by the Compensation Committee, and under which you be eligible to receive an annual incentive bonus, with a target bonus amount equal to 100% of your base salary. The actual
annual bonus amount will be based upon achievement of Company and individual performance targets established by the 

 
Compensation Committee thereof for the fiscal year to which the bonus relates, and will be paid to you in accordance with the terms of the annual bonus program at the same time bonuses are
generally paid to other senior executive officers of the Company. 
 Long-Term Incentives: In addition to your cash compensation, you
will continue to participate in the Company’s long-term incentive program in a manner consistent with other senior executive officers of the Company, and will be eligible to receive annual grants under such program in amounts and in a form
determined by the Compensation Committee. For the 2016 fiscal year, your long-term incentive award will have a target value of $2.75 million. 

In connection with your appointment as President and Chief Executive Officer, the Company will award you a one-time grant of Restricted Stock
under the Company’s 2014 Omnibus Incentive Plan (as amended from time to time), with a grant date target value equal to $1.0 million. The Restricted Stock shall vest on the third
(3rd) anniversary of the date of grant, and shall otherwise be subject to the terms of a Restricted Stock Agreement that you will be required to execute in connection with such grant (which
shall be consistent with the Company’s form of Restricted Stock Agreement, as publicly filed). 
 Severance: As you are aware,
the Company is contemplating adopting an executive severance plan in which all senior executives of the Company, including you, would participate in the event that any such plan is adopted. Subject to the terms and conditions of any such plan that
may be adopted, you would generally be provided severance on a qualifying termination event of not less than two times the sum of your base salary and target bonus (the “Severance Floor”). Among other conditions set forth in any
executive severance plan that may be adopted, you would be required to execute and comply with an agreement that contains covenants limiting your disclosure of confidential information and preventing you from engaging in activities that are
competitive with, or that interfere with, the Company, and the payment of the severance would be conditioned upon your execution of a release of claims in favor of the Company and its affiliates (collectively, the “Covenant and Release
Conditions”). Should your employment terminate prior to adoption of an executive severance plan, if such termination was by the Company without Cause or by you with Good Reason (as each term is defined in the grant agreement pertaining to
your retention award of Restricted Stock, dated June 11, 2014), subject to your satisfaction of the Covenant and Release Conditions (which in the case of the applicable non-competition and non-interference covenants will not extend more than 24
months following the date of such termination), you will be entitled to severance in an amount of two times the sum of your base salary and target bonus, payable in a lump sum within 30 days from your termination. For the avoidance of doubt,
however, subject to the Severance Floor, in the event that an executive severance plan is adopted, such plan would exclusively govern your severance entitlements. 

Benefits: You will be eligible to participate in the various benefit plans offered by the Company from time to time, including health,
insurance, retirement, vacation/PTO and other benefits, in each case, subject to the terms and conditions set forth in the applicable benefit plan. 

Taxes: All of the compensation and benefits provided to you by the Company shall be subject to reduction for taxes as required by
applicable law. 

  
 2 

 This letter is not intended to create an employment contract for any set period of time, rather your employment
with the Company is “at will”, meaning you or the Company may terminate your employment at any time or for any reason, with or without notice. The “at will” nature of your relationship with the Company may not be modified or
amended except by written agreement between you and the Board. 
 This letter supersedes and replaces, as applicable, any and all agreements (including any
prior offer or employment letters) between you and the Company, with respect to all subject matters included in this letter. 
 To accept your appointment
as President and Chief Executive Officer of the Company, please execute this letter where indicated below, and return the executed copy to the Company’s General Counsel. This letter may be executed in two or more counterparts, each of which
shall be deemed to be an original but all of which together shall constitute one and the same instrument. The execution of this letter may be by actual or facsimile signature. The letter shall be governed by and construed in accordance with the laws
of the State of Texas applicable to contracts made and to be performed entirely within such State. 
 We are very excited to have you continue as a part of
the Company’s team. We have many exciting challenges ahead and we are confident you will make a significant contribution to our future growth. 

Sincerely, 
 /s/ Mark Chloupek 

Mark Chloupek 
 EVP & General Counsel 

Agreed and Accepted this 18th day of February, 2016 
  

	
	 /s/ Keith Cline

	Keith Cline

  
 3

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