Document:

snss-ex1045_501.htm

Exhibit 10.45

October 7, 2015 

 

Adam Craig

Sunesis Pharmaceuticals, Inc.

95 Oyster Point Blvd.

South San Francisco, CA 94080 

 

Dear Adam:

This letter sets forth the substance of the separation and consulting agreement (the “Agreement”) that Sunesis Pharmaceuticals, Inc. (the “Company”) is offering to you.  

1.Separation.  Your last day as an employee with the Company and your employment termination date will be December 31, 2015 (the “Separation Date”).   Between now and November 30, 2015, your duties and compensation will remain the same.  Effective December 1, 2015, it is anticipated that upon agreement between you and the Company’s CEO your schedule will be reduced so that you are only working approximately three days per week, and your salary will be adjusted to not less than 60% of your current base salary (with appropriate upward adjustment from 60% if you are working more that three days per week).  

2.Accrued Salary and Paid Time Off.  On the Separation Date, the Company will pay you all accrued salary, and all accrued and unused vacation earned through the Separation Date, subject to standard payroll deductions and withholdings.  You are entitled to these payments by law.

3.Health Insurance.  You will remain on the Company’s health insurance plan through November 30, 2015.  Thereafter, you may continue your insurance at your own expense under COBRA.  You will be provided with a separate notice describing your rights and obligations under COBRA.  The Company will pay your COBRA premium for December 2015 provided that you timely elect COBRA coverage.

4.Consulting Agreement.  If you timely sign this Agreement and allow the release set forth herein to become effective, then the Company will engage you as a consultant under the terms set forth below.  

a.Consulting Period.  You will serve as a consultant to the Company beginning immediately following the Separation Date and ending on June 30, 2017 (the “Consulting Period”); provided, however, that either party may terminate the Consulting Period for its convenience upon thirty (30) days notice to the other party.

b.Consulting Services.  As a consultant, you will be responsible for assisting the Company in any area of your expertise, as reasonably requested by the Company (the “Consulting Services”).  You will conduct the Consulting Services at a location of your choosing.  You will exercise the highest degree of professionalism and utilize your expertise and creative talents in performing the Consulting Services.

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c.Consulting Fee.  Provided that you (i) perform the Consulting Services, and (ii) comply with your contractual obligations to the Company (including, without limitation, the obligations set forth herein), then the Company will pay you a consulting fee equal to $172,400 upon ratification of the MAA filing (payable within thirty days after such ratification, regardless of whether the Consulting Period has been terminated prior to such time).  Additionally, the Company will pay you consulting fees equal to $375 per hour, subject to your submission of monthly invoices documenting your hours.  

d.Equity.  During your employment with the Company, you were granted options to purchase shares of the Company’s common stock.  You and the Company agree that during the Consulting Period, the vesting on these options will cease.  Nevertheless, during the Consulting Period, you will be deemed to be in “continuous service” for purposes of exercising any vested shares subject to the options, which means that you will have three (3) months following the conclusion of the Consulting Period to exercise any vested shares.  Except as provided in this paragraph, the options shall continue to be governed in all respects by the governing plan documents and agreements.  You are encouraged to obtain independent tax advice concerning your options and how the terms of this Agreement may affect the tax treatment of the options.

e.Tax Treatment.  The Company will not make any withholdings or deductions, and will issue you a form 1099, with respect to any consulting fees paid to you. You will be responsible for all taxes with respect to the consulting fees, and you agree to indemnify, hold harmless and defend the Company from any and all claims, liabilities, damages, taxes, fines or penalties sought or recovered by any governmental entity, including but not limited to the Internal Revenue Service or any state taxing authority, arising out of or in connection with your failure to pay such taxes.  You will not be responsible for claims, liabilities, damages, fines or penalties sought or recovered by any governmental entity in the event it is determined that your proper status is an employee as opposed to an independent contractor.

f.Independent Contractor Status.  You agree that during the Consulting Period, (i) you will be an independent contractor to the Company and not an employee of the Company, and (ii) the Company will not make payments for state or federal income tax, FICA (social security and Medicare), make unemployment insurance or disability insurance contributions, or obtain workers’ compensation insurance on your behalf.

g.Protection of Information.  You agree that during the Consulting Period and thereafter, you will not use or disclose any confidential or proprietary information or materials of the Company that you obtain or develop in the course of performing consulting services for the Company.  Any and all work product you create in the course of performing consulting services for the Company will be the sole and exclusive property of the Company.  You hereby assign to the Company all right, title, and interest in all inventions, techniques, processes, materials, and other intellectual property developed in the course of performing consulting services for the Company.

h.Limitations on Authority.  You will have no responsibilities or authority as a consultant to the Company other than as provided above.  You agree not to represent or 

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purport to represent the Company in any manner whatsoever to any third party except with my prior written consent.   

i.Standards of Conduct; Noncompetition.  You agree not to engage in any conduct during the Consulting Period that is detrimental to the interests of the Company. You further agree during the Consulting Period that you will not, directly or indirectly, as an officer, director, employee, consultant, owner, manager, member, partner, or in any other capacity solicit, perform, or provide, or attempt to perform or provide Conflicting Services in the United States, nor will you assist another person to solicit, perform or provide or attempt to perform or provide Conflicting Services in the United States.  You and the Company agree that for purposes of this Agreement, “Conflicting Services” means any product, service, or process or the research and development thereof, of any person or organization other than the Company that is substantially similar to or competitive with a product, service, or process, including the research and development thereof, of the Company.  Notwithstanding the above, you will not be deemed to be engaged directly or indirectly in any Conflicting Services if you participate in any such business solely as a passive investor in up to one percent (1%) of the equity securities of a company or partnership, the securities of which are publicly traded.

5.Other Compensation or Benefits.  You acknowledge that, except as expressly provided in this Agreement, you will not receive any additional compensation, severance, or benefits after the Separation Date.   You further expressly acknowledge and agree that you are not entitled to any severance benefits from the Company under the terms of your offer letter from the Company or your Executive Severance Benefits Agreement with the Company.

6.Expense Reimbursements.  You agree that, within ten (10) days after the Separation Date, you will submit your final documented expense reimbursement statement reflecting all business expenses you incurred through the Separation Date, if any, for which you seek reimbursement.  The Company will reimburse you for these expenses pursuant to its regular business practice.  

7.Return of Company Property.  By the Separation Date or if applicable at end of the Consulting Period, you agree to return to the Company all Company documents (and all copies thereof) and other Company property within your possession, custody or control, including, but not limited to, Company files, notes, drawings, records, business plans and forecasts, financial information, specifications, computer-recorded information, tangible property (including, but not limited to), credit cards, entry cards, identification badges, and keys; and, any materials of any kind that contain or embody any proprietary or confidential information of the Company (and all reproductions thereof); provided, however, that you are permitted to retain any Company property that is necessary for the performance of your services under the Consulting Agreement.  Your timely return of all such Company documents and other property is a condition precedent to your receipt of the benefits provided under this Agreement.

8.Proprietary Information Obligations.  You acknowledge and agree to abide by your continuing obligations under your Confidential Information and Invention Assignment Agreement, a copy of which is attached hereto as Exhibit A. 

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9.Confidentiality.  The provisions of this Agreement will be held in strictest confidence by you and the Company and will not be publicized or disclosed in any manner whatsoever; provided, however, that:  (a) you may disclose this Agreement in confidence to your immediate family; (b) the parties may disclose this Agreement in confidence to their respective attorneys, accountants, auditors, tax preparers, and financial advisors; (c) the Company may disclose this Agreement as necessary to fulfill standard or legally required corporate reporting or disclosure requirements; (d) the parties may disclose this Agreement insofar as such disclosure may be necessary to enforce its terms or as otherwise required by law; and (e) during the term of your consultancy, you are permitted to disclose that you are serving as a consultant to the Company.   

10.Nondisparagement.  You agree not to disparage the Company, its officers, directors, employees, shareholders, and agents, in any manner likely to be harmful to its or their business, business reputation or personal reputation; provided that you will respond accurately and fully to any question, inquiry or request for information when required by legal process.  The Company The Company agrees to use its best efforts to prevent its employees, officers and directors from disparaging you; provided that the Company’s employees will respond accurately and fully to any question, inquiry or request for information when required by legal process.

11.No Admissions.  You understand and agree that the promises and payments in consideration of this Agreement shall not be construed to be an admission of any liability or obligation by the Company to you or to any other person, and that the Company makes no such admission.

12.Release of Claims.  

a.General Release.  In exchange for the consideration under this Agreement to which you would not otherwise be entitled, you hereby generally and completely release the Company and its directors, officers, employees, shareholders, partners, agents, attorneys, predecessors, successors, parent or subsidiary entities, insurers, affiliates and assigns from any and all claims, liabilities and obligations, both known and unknown, that arise out of or are in any way related to events, acts, conduct, or omissions prior to or on the date you sign this Agreement.  

b.Scope of Release.  This general release includes, but is not limited to: (i) all claims arising out of or in any way related to your employment with the Company or the termination of that employment; (ii) all claims related to your compensation or benefits from the Company, including salary, bonuses, commissions, vacation pay, expense reimbursements, severance pay, fringe benefits, stock, stock options or any other ownership interests in the Company; (iii) all claims for breach of contract, wrongful termination or breach of the implied covenant of good faith and fair dealing; (iv) all tort claims, including claims for fraud, defamation, emotional distress and discharge in violation of public policy; and (v) all federal, state, and local statutory claims, including claims for discrimination, harassment, retaliation, attorneys’ fees, or other claims arising under the federal Civil Rights Act of 1964 (as amended), the federal Americans with Disabilities Act of 1990, the Age Discrimination in Employment Act (“ADEA”) or the California Fair Employment and Housing Act (as amended).  

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c.Excluded Claims.  Notwithstanding the foregoing, you are not hereby releasing the Company from any of the following claims: (i) any rights or claims for indemnification you may have pursuant to any written indemnification agreement with the Company to which you are a party, the charter, bylaws, or operating agreements of the Company, or under applicable law; (ii) any rights that cannot be waived as a matter of law; (iii) any rights to coverage under any D&O or other insurance policy or (iv) any claims arising from the breach of this Agreement.  In addition, nothing in this Agreement prevents you from filing, cooperating with, or participating in any proceeding before the Equal Employment Opportunity Commission, the Department of Labor, or the California Department of Fair Employment and Housing, except that you hereby waive your right to any monetary benefits in connection with any such claim, charge or proceeding.    

13.ADEA Waiver.  You acknowledge that you are knowingly and voluntarily waiving and releasing any rights you have under the ADEA, and that the consideration given for the waiver and releases you have given in this Agreement is in addition to anything of value to which you were already entitled.  You further acknowledge that you have been advised, as required by the ADEA, that:  (a) your waiver and release does not apply to any rights or claims that arise after the date you sign this Agreement; (b) you should consult with an attorney prior to signing this Agreement (although you may choose voluntarily not to do so); (c) you have twenty-one (21) days to consider this Agreement (although you may choose voluntarily to sign it sooner); (d) you have seven (7) days following the date you sign this Agreement to revoke this Agreement (in a written revocation sent to me); and (e) this Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth day after you sign this Agreement provided that you do not revoke it. 

14.Section 1542 Waiver.  In granting the release herein, which includes claims that may be unknown to you at present, you acknowledge that you have read and understand Section 1542 of the California Civil Code:  “A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.”  You hereby expressly waive and relinquish all rights and benefits under that section and any law or legal principle of similar effect in any jurisdiction with respect to the releases granted herein, including but not limited to the release of unknown and unsuspected claims granted in this Agreement.

15.Indemnification.  The Company agrees to indemnify and hold you harmless from any and all liabilities, losses, damages and expenses including advancement of reasonable attorneys fees resulting from any and all actions demands or claims (each a “Claim”) arising from your provision of the Consulting Services pursuant to this agreement that were taken by you in good faith.

16.Miscellaneous.  This Agreement, including all Exhibits, constitutes the complete, final and exclusive embodiment of the entire agreement between you and the Company with regard to its subject matter.  It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations.  This Agreement may not be modified or 

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amended except in a writing signed by both you and a duly authorized officer of the Company.  This Agreement will bind the heirs, personal representatives, successors and assigns of both you and the Company, and inure to the benefit of both you and the Company, their heirs, successors and assigns.  If any provision of this Agreement is determined to be invalid or unenforceable, in whole or in part, this determination will not affect any other provision of this Agreement and the provision in question will be modified so as to be rendered enforceable.  This Agreement will be deemed to have been entered into and will be construed and enforced in accordance with the laws of the State of California as applied to contracts made and to be performed entirely within California.  Any ambiguity in this Agreement shall not be construed against either party as the drafter.  Any waiver of a breach of this Agreement shall be in writing and shall not be deemed to be a waiver of any successive breach.  This Agreement may be executed in counterparts and facsimile signatures will suffice as original signatures.

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If this Agreement is acceptable to you, please sign below and return the original to me.

We wish you the best in your future endeavors.

Sincerely,

 

By: /s/ Daniel Swisher, Jr.

Daniel Swisher, CEO and President

 

 

Exhibit A – Confidential Information and Invention Assignment Agreement 

 

I have read, understand and agree fully to the foregoing Agreement:

/s/Adam Craig10/7/15
Adam CraigDate 

 

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121930875 v4 

 

Exhibit A

CONFIDENTIAL INFORMATION AgreemenT

 

 

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121930875 v4EXHIBIT 10.1

  
 EXHIBIT 10.1
 Weyland Tech  Inc. and Aurum Digital, Inc.
 SOFTWARE LICENSE AGREEMENT
 March 9, 2016
 

 Weyland Tech Inc., a Delaware corporation, ( “ Weyland Tech ” ) and Aurum Digital, Inc., a corporation organized and existing under the laws of the State of Nevada, ( “Aurum Digital” ) have agreed to establish this SOFTWARE LICENSE AGREEMENT in order to provide Aurum Digital with exclusive rights to deploy, utilize, and market Weyland Tech's CreateApp platform (hereinafter "the Technology").  
 

 Weyland Tech owns and/or has rights to certain computer software programs, known collectively as the CreateApp Platform ( “ the Technology ” ) that are useful in creating, managing and coordinating mobile commerce ("m-commerce") channels and transactions.
 

 1.     SCOPE OF LICENSE
 1.1 LICENSE GRANT.  License to Weyland Tech ’ s Technology: 
 1.1a Weyland Tech grants Aurum Digital a two (2) year Sole and Exclusive License for the CreateApp Label, with an additional two (2) year option to deploy, utilize, market and sell the Technology.  Aurum Digital will remain the only source that can sell the CreateApp Label in the TERRITORY during this exclusive license.
 1.1b Weyland Tech grants Aurum Digital a two (2) year Non-Exclusive License, renewable at mutual agreement, to deploy, utilize, market and sell the CreateApp platform under a 'white-label' basis. 
 

 1.2 TERRITORY.  The Territory of the license shall be the Americas, covering North, Central and South Americas with the exception of those territories within the United States which Weyland Tech has already entered into licensing agreements, prior to March 9, 2016, for which Aurum is then granted non-exclusive licensing rights.
 

 1.3 ASSIGNMENT. Aurum Digital will not have the right to assign the License to any other party without written consent from Weyland Tech.
 

 2.     APPOINTMENT AS SOLE AND EXCLUSIVE LICENSEE.
 2.1 APPOINTMENT.  Weyland Tech hereby appoints Aurum Digital effective during the License Term, as Weyland Tech's distributor of the Technology for use in the TERRITORY. The appointment shall be for a Sole and Exclusive License.
 

         
 2.2 LICENSE FEES AND REQUIREMENTS.  In return for the Sole and Exclusive License granted above, Aurum Digital agrees to provide the following to Weyland Tech:
 (a) Aurum Digital will pay Weyland Tech a US$20 monthly fee per active subscription of the Technology, branded as CreateApp, that is deployed by Aurum Digital in the TERRITORY.
 (b) Aurum Digital will pay Weyland Tech a US$15 monthly fee per active subscription of the Technology, under the white-label basis, that is deployed by Aurum Digital in the TERRITORY.
 (b) Aurum Digital has the discretion to resell and/or mass distribute the Technology at prices Aurum Digital deems to be acceptable by the market in the TERRITORY)
 

 
 

 3.       MARKETING AND SUPPORT OBLIGATIONS
          
 3.1 Aurum Digital MARKETING AND SALES EFFORTS. Aurum Digital shall use best efforts to promote and market the Technology in order to maximize the licensing and distribution of the Technology. Such marketing efforts shall include, without limitation: establishment of a marketing and sales team dedicated exclusively to promoting and distributing the Technology; advertising the Technology in a commercially appropriate and reasonable manner; and promoting the Technology at seminars, trade shows and conferences. Aurum Digital agrees further that its marketing and advertising efforts with respect to the Technology will be of the highest quality, and shall preserve the professional image and reputation of Weyland Tech and the Technology.
 

 4.       PREPARATION OF LOCALIZED VERSIONS
 4.1 WEBSITE PREPARATION AND MAINTENANCE. Aurum Digital, supported by Weyland Tech through its wholly owned Singapore subsidiary, shall be responsible for the creation, localization, updating and maintenance of websites used to market and sell the Technology including but not limited to: createapp.com, createappamericas.com. Weyland Tech will also be responsible to prepare Localized Versions of the Technology and of any new version thereof in accordance with a schedule to be agreed upon for each such new version.
 

 5.       INSTALLATION, TRAINING, TECHNICAL SUPPORT AND MAINTENANCE
 5.1 INSTALLATION AND TRAINING. Aurum Digital shall be responsible for conducting all activities required to install the Technology at Resellers and End-Users and for providing training to the Resellers and End-Users. Aurum Digital shall also conduct the training related activities for such Resellers and End-Users, at such Resellers and End-Users' request, and charge a reasonable fee to such Resellers and End-Users for such training. All such installation and training shall be conducted with the highest level of professionalism and quality.
 

          
 5.2 TECHNICAL SUPPORT AND MAINTENANCE. Aurum Digital shall be responsible for providing Technical Support with respect to technical questions, support problems, and Error evaluation and correction to all Resellers and End-Users of the Technology who have entered into the Software Maintenance Agreement with Aurum Digital.
 

         
 5.3 SOFTWARE MAINTENANCE AND SUPPORT SERVICES. Software Maintenance and Support Services shall be provided under Aurum Digital's Software Maintenance and Support Services policies in effect on the date the Software Maintenance and Support Services is ordered. Aurum Digital is hereby authorized to distribute any and all Error corrections and Updates to all of its Resellers and End-Users customers and sub-licensees.
 

 6.       WARRANTIES
          
 6.1 Aurum Digital WARRANTY. Aurum Digital warrants that it maintains the facilities, resources and experienced personnel necessary to market and distribute Technology and to perform the necessary installation, training and maintenance services related to such Technology and otherwise to fulfill its obligations under this Agreement and that it is not precluded by any existing arrangement, contractual or otherwise, from entering into this Agreement.
 

 

 
 
          
 6.2 WEYLAND TECH  FINANCIAL INDEMNITY. Aurum Digital will indemnify Weyland Tech for, and hold Weyland Tech harmless from, any loss, expense, damages, claims, demands, or liability arising from any claim, suit, action or demand resulting from: (a) the negligence, error, omission or willful misconduct of Aurum Digital or its representatives or sub-licensees; (b) the breach of any terms of this Agreement; or (c) Aurum Digital's non- compliance with applicable laws and regulations.
 .
          
 6.3 WEYLAND TECH  WARRANTY. Weyland Tech warrants and covenants that it has and will during the License Term take all actions reasonably necessary and appropriate to maintain the right to grant Aurum Digital to use, reproduce, or sublicense the Technology under this Agreement.
 

 7.       COVENANTS AND RESTRICTIONS REGARDING THE TECHNOLOGY
          
 7.1 PROHIBITION ON DECOMPILING. Aurum Digital acknowledges that the Technology contains the valuable information of Weyland Tech and Aurum Digital agrees not to cause or permit, through gross negligence, the modification, reverse engineering, translation, disassembly, or decompilation of, or otherwise to attempt to derive the source code of the Technology, whether in whole or in part.
 

          
 7.2 PROPRIETARY NOTICES. In order to protect Weyland Tech's copyright and other ownership interests in the Technology, Aurum Digital agrees that as a condition of its rights hereunder, each copy of the Technology and related documentation reproduced by or on behalf of Aurum Digital shall contain the same proprietary notices on the media, within the code and on the Documentation which appear on the media or within the code of the Technology or on the Documentation delivered by Weyland Tech to Aurum Digital.
 

 8.       SOURCE CODE.
 8.1 SOURCE CODE TRANSFER. Weyland Tech will not be transfer source code of the User Programs and Server Programs to the control of Aurum Digital.
 

 9.       OWNERSHIP AND PROPRIETARY RIGHTS.
 9.1 OWNERSHIP. Weyland Tech shall retain all title, copyright and other proprietary rights in and to the Technology. Aurum Digital does not acquire any rights, express or implied, in the Technology, other than those specified in this Agreement. In the event that Aurum Digital makes suggestions to Weyland Tech regarding new features, functionality or performance that Aurum Digital adopts for the Technology, such new features, functionality or performance shall become the sole and exclusive property of Aurum Digital.
 

 9.2 AURUM DIGITAL'S RIGHTS IN FUTURE DEVELOPMENT WORKS. Weyland Tech agrees and hereby assigns all right, title and interest in any derivative works including enhancements, new software modules or product options (collectively such future versions of the Technology and any derivative works including enhancements, new software modules or product options shall be referred to as "Future Development Work(s)").
 

 10.       MISCELLANEOUS.
         
 10.1 GOVERNING LAW. This Agreement shall be governed in all respects by the laws of HKSAR Hong Kong. This Agreement is prepared and executed in the English language only and any translation of this Agreement into any other language shall have no effect.
 

 

 
 
         
 10.2 ATTORNEYS FEES. In the event any proceeding or lawsuit is brought by Weyland Tech or Aurum Digital in connection with this Agreement, the prevailing party in such proceeding shall be entitled to receive its costs, expert witness fees and reasonable attorneys' fees, including costs and fees on appeal.
 

          
 10.3 ARBITRATION. Choice of Forum and Venue. Each party to this Agreement shall have the right to have recourse to and shall be bound by the pre-arbitral referee procedure of the International Chamber of Commerce in accordance with its Rules for a Pre-Arbitral Referee Procedure.  All disputes arising out of or in connection with this Agreement shall be finally settled under the Rules of Arbitration of the International Chamber of Commerce by one arbitrator appointed in accordance with the said Rules.  The parties further agree that the language to be used for any pre-arbitral referee procedures and for the arbitration will be English, and that the Parties shall mutually agree as to the location where any of the foregoing proceedings shall take place.  Notwithstanding any other provision of this Agreement, either party shall be entitled to seek injunctive or other provisional relief from any court of competent jurisdiction at any time prior to, during or after any pre-arbitral referee procedure or arbitration proceeding initiated under this Section 10.
 

 WEYLAND TECH  INC.
 

 _____________________
 /s/ Brent Y Suen, CEO - Weyland Tech Inc.
 

 AURUM DIGITAL, INC.
 

 _____________________
 /s/ Corey J. Sandberg, President, Aurum Digital, Inc.

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