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Exhibit 10.1

									
			NOTICE OF GRANT

	Company: 
Wolfspeed, Inc. 
4600 Silicon Drive 
Durham, NC 27703 
Tax I.D. 56-1572719 
	Participant: 
Award Number: 
Award Plan: 
Award Type: 
Grant Date: 
Performance Period: 
	Neill Reynolds
46
2013 Long-Term Incentive Compensation Plan 
Performance Units 
August 23, 2021, as amended November 21, 2021 
June 28, 2021 through June 26, 2022

Dear Neill:

I am pleased to inform you that Wolfspeed, Inc. (the “Company”) has awarded Performance Units to you effective August 23, 2021 (the “Grant Date”). This award is subject to and governed by the terms of the Wolfspeed, Inc. 2013 Long-Term Incentive Compensation Plan (the “Plan”), the terms of the Master Performance Unit Award Agreement between you and the Company, and this Notice of Grant, as amended. 

The amount payable to you pursuant to your Performance Units (“D”) will be determined as the result of A x B x C, where: 

•A equals your Base Salary; 
•B equals your Target Award Level; and 
•C equals the Performance Measurement. 

For purposes of the foregoing, except as expressly provided otherwise in this Notice of Grant, “Base Salary” shall refer to your annual base salary in effect on the last day of the first fiscal quarter of fiscal year 2022 (“FY22”), as provided in the Company’s human resources management system, unless your annual base salary changes after the first fiscal quarter. If your annual base salary changes after the first fiscal quarter, “Base Salary” will mean the weighted average annual base salary for the Performance Period determined by multiplying each annual base salary in effect during the Performance Period by a fraction, the numerator of which is the number of calendar days in the Performance Period on which such annual base salary was in effect and the denominator of which is the number of calendar days in the Performance Period. However, if you are on a leave of absence (other than a leave of absence where you continue to be paid your full base salary through the Company’s payroll system, except payments received under the Company’s short-term disability income protection plan), for all or part of the Performance Period, your Base Salary will be reduced proportionately to equate to the base salary applicable to the number of calendar days you were not on a leave of absence during the Performance Period. 

For purposes of the foregoing, your “Target Award Level” effective as of November 21, 2021 is one hundred percent (100%). The Target Award Level for the Performance Period prior to November 21, 2021 is eighty percent (80%).  The weighted average Target Award Level for the Performance Period will be determined by multiplying each Target Award Level in effect during the Performance Period by a fraction, the numerator of which is the number of calendar days in the Performance Period on which such Target Award Level was in effect and the denominator of which is the number of calendar days in the Performance Period. 

For purposes of the foregoing, the “Performance Measurement” is a percentage between 0% and 200% determined by the Compensation Committee of the Company’s Board of Directors (the “Committee”) after assessing the Company’s performance against FY22 revenue, non-GAAP gross margin, design-ins and pipeline generation, MOSFET yield improvement, Mohawk Valley Fab internal automotive qualification, and DEI (Diversity, Equity and Inclusion) initiatives (the “Performance Criteria”) targets. 

The Performance Measurement for the Performance Period will be determined by calculating the Performance Measurement levels associated with the actual Performance Criteria results, rounded to the nearest whole percentage.

Except as provided in the Company's SLT Severance Plan, if such plan is then in effect, and except as provided below with respect to your death or LTD Disability, (i) you must be continuously employed by the Company as the Company's Executive Vice President, Chief Financial Officer through the last day of the Performance Period to have a right to payment of your Performance Units, (ii) your Performance Units will not be considered earned until the last day of the Performance Period, and (iii) if you terminate employment with the Company prior to the last day of the Performance Period, with or without cause, you will forfeit your Performance Units.

After the end of the Performance Period, your actual Performance Measurement will be determined as follows: 

Step 1: The Committee will, in good faith and in its sole discretion, determine the Company’s actual Performance Criteria results for the Performance Period (the “Results,” each a “Result”) using competent and reliable information, including but not limited to audited financial statements, if available. 

Step 2: The Committee will determine the Performance Measurement for the Performance Period by averaging the Performance Measurement levels that corresponds to each Result, rounded to the nearest whole percentage. However, in the event a Change in Control (as defined in the SLT Severance Plan) occurs during the Performance Period, the percentage for each Result will be no less than 100% paid out as described herein.

Notwithstanding the foregoing, in order to ensure that the Company’s best interests are met, except as specifically provided in the SLT Severance Plan, the Committee in its discretion may decrease or eliminate the amount payable pursuant to your Performance Units at any time prior to payment if it determines in good faith that payment of the full amount otherwise payable pursuant to the Performance Units is not warranted or appropriate; provided, however, so long as you are not in breach of your Confidential Information Agreement (as defined in the SLT Severance Plan), following (i) the commencement of a tender offer or the Company and another party entering into a written agreement that contemplates a transaction, the consummation of either of which would result in a Change in Control, or (ii) a Change in Control, the Committee may not decrease or eliminate the amount payable as otherwise determined in accordance with this Notice of Grant without your prior written consent, except that this restriction shall cease to apply if the tender offer or the written agreement is terminated or expires without the occurrence of a Change in Control. 

In connection with the Committee’s determination of the actual Performance Criteria results for the Performance Period, the Committee shall (without limiting its authority to apply negative discretion as provided above) make adjustments that eliminate the effect of any changes or events (each a “Change”) that occur during such Performance Period and that were not fully anticipated and/or accurately incorporated into the financial calculations when the performance targets were determined, where (a) making the adjustment will improve performance results, and (b) the Change has a material effect on results under a performance target (determined consistently with past practice), and (c) the Change comes within one or more of the following categories (determined consistently with past practice, to the extent applicable): (1) changes in corporate or capital structure, including but not limited to debt or equity offerings, mergers, acquisitions or divestitures; or (2) other unusual or nonrecurring events. 

If prior to settlement of your Performance Units, the Company terminates your employment on account of your LTD Disability or you die, you or your beneficiary will receive payment under your Performance Units as otherwise determined in accordance with this Notice of Grant as if you had remained employed through the payment date for your Performance Units. However, in such event your Base Salary will be proportionally reduced based on the number of calendar days you were employed by the Company and not otherwise on leave of absence as provided above during the Performance Period. 

If there is a Change in Control and you remain continuously employed by the Company through the end of the Performance Period, but your employment terminates In Connection with a Change in Control upon or after the end of the 

Performance Period but prior to the payment date under your Performance Units, you will be entitled to payment under your Performance Units as otherwise determined in accordance with this Notice of Grant. However, if there is a Change in Control and your employment terminates prior to the end of the Performance Period, you will not be entitled hereunder to a payment under your Performance Units. “In Connection with a Change of Control” will have the same meaning as in the SLT Severance Plan. 

In general, payment under your Performance Units will be made as soon as practicable after the end of the Performance Period and, in any event, will be made no later than (i) the end of the second fiscal quarter following the end of the Performance Period or, if earlier, (ii) the 15th day of the third month after the later of the end of the Company's tax year in which the Performance Period ends or the end of your tax year in which the Performance Period ends. However, if payment becomes due under your Performance Units on account of your death or LTD Disability, payment will be made no later than the 15th day of the third month after the later of the end of the Company’s tax year in which your death or LTD Disability, as applicable, occurs or the end of your tax year in which your death or termination of your employment on account of LTD Disability, as applicable, occurs. Alternatively, in the event a Change in Control occurs prior to the payment date of your Performance Units, any payment that becomes due under your Performance Units will be made no later than the 15th day of the third month after the later of the end of the Company’s tax year in which the Change of Control occurs or the end of your tax year in which the Change of Control occurs. 

This award is intended to fulfill any and all agreements, obligations or promises, whether legally binding or not, previously made by the Company or any Employer under the Plan to grant you Performance Units or to provide you annual incentive compensation for the Performance Period. By signing below, you accept such award, along with all prior awards received by you, in full satisfaction of any such agreement, obligation or promise. By signing below, you expressly acknowledge that you are not a participant in or entitled to a payment under the Management Incentive Compensation Plan. 

Nothing in this Notice of Grant or the Master Performance Unit Award Agreement is intended to modify or amend the terms of the SLT Severance Plan, including but not limited to your right to receive the payment specified in Sections 4.1 and 4.2 thereof in accordance with the terms and conditions of the SLT Severance Plan. 

Date: November 21, 2021

																					
	For Wolfspeed, Inc.
		Accepted and agreed to:

							
							
	By:		/s/ Gregg Lowe		By:		/s/ Neill Reynolds
			Gregg Lowe				Neill Reynolds
			President and Chief Executive OfficerExhibit 4.12

 

THIS NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAW, AND IT MAY NOT BE SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION
STATEMENT UNDER SAID ACT OR STATE LAW OR AN EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS; AND THE COMPANY MAY REQUIRE AN OPINION OF COUNSEL
AS TO THE AVAILABILITY OF SUCH EXEMPTION.

 

	$125,000.00 	 	New York, New York 

Date: September 23, 2021

 

SENTIENT
BRANDS HOLDINGS INC.

 

18% PROMISSORY
NOTE DUE MARCH 23, 2022

 

FOR
VALUE RECEIVED, SENTIENT BRANDS HOLDINGS INC., a Nevada corporation (the “Company”), hereby promises to pay to the order of
ADRIATIC ADVISORS, LLC (“Holder”), the principal amount of ONE HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($125,000) on the earlier
of (i) the closing of the next Equity Financing (as defined below), or (ii) March 23, 2022 (the “Maturity Date”), or earlier
as hereinafter provided. Interest on the outstanding principal balance shall be paid at maturity at the rate of eighteen percent (18%)
per annum. Interest shall be computed on the basis of a 360-day year, using the number of days actually elapsed. The Holder, at its sole
election on the Maturity Date, may convert the interest accrued on this Note into shares of common stock of the Company at $0.05 per share
(the “Interest Conversion Price”); provided, however, upon closing of the next Equity Financing (as defined below), the Interest
Conversion Price shall be adjusted to equal such price per share or conversion price utilized in such Equity Financing; provided, however,
that in no event shall the interest Conversion Price be increased as a result of such adjustment. Such adjustment to the Interest Conversion
Price shall be a onetime event on the Maturity Date. “Equity Financing” is defined as any financing following the closing
of this $125,000 promissory note financing in which the Company sells shares of common stock or securities that are convertible into shares
of common stock for gross proceeds of a minimum of $250,000.

 

ARTICLE 1. 

Events of Default and Acceleration

 

(a)    
Events of Default Defined. If any one or more the following events (“Events of Default”)
shall have occurred (for any reason whatsoever and whether such happening shall be voluntary or involuntary or be affected or come about
by operation of law pursuant to or in compliance with any judgment, decree, or order of any court or any order, rule or regulation of
any administrative or governmental body) and be continuing. An Event of Default shall occur:

 

(i)                  
if failure shall be made in the payment of the principal of this Note or in the payment of any installment
of interest on this Note when and as the same shall become due and such failure shall continue for a period of five (5) days after such
payment is due; or

 

(ii)                
if the Company shall consent to the appointment of a receiver, trustee or liquidator of itself or
of a substantial part of its property, or shall admit in writing its inability to pay its debts generally as they become due, or shall
make a general assignment for the benefit of creditors, or shall file a voluntary petition in bankruptcy, or an answer seeking reorganization
in a proceeding under any bankruptcy law (as now or hereafter in effect) or an answer admitting the material allegations of a petition
filed against the Company in any such proceeding, or shall by voluntary petition, answer or consent, seek relief under the provisions
of any other now existing or future bankruptcy or other similar law providing for the reorganization or winding up of corporations, or
an arrangement, composition, extension or adjustment with its or their creditors, or shall, in a petition in bankruptcy filed against
it or them be adjudicated a bankrupt, or the Company or its directors or a majority of its stockholders shall vote to dissolve or liquidate
the Company; or

 

    

     

    

 

(iii)               
if an involuntary petition shall be filed against the Company seeking relief against the Company
under any now existing or future bankruptcy, insolvency or other similar law providing for the reorganization or winding up of corporations,
or an arrangement, composition, extension or adjustment with its or their creditors, and such petition shall not be stayed or vacated
or set aside within ninety (90) days from the filing thereof; or

 

(iv)              
if a court of competent jurisdiction shall enter an order, judgment or decree appointing, without
consent of the Company, a receiver, trustee or liquidator of the Company or of all or any substantial part of the property of the Company,
or approving a petition filed against the Company seeking a reorganization or arrangement of the Company under the Federal bankruptcy
laws or any other applicable law or statute of the United States of America or any State thereof, or any substantial part of the property
of the Company shall be sequestered; and such order, judgment or decree shall not be stayed or vacated or set aside within ninety (90)
days from the date of the entry thereof.

 

(b)    
Remedies Upon Event of Default.

 

(i)       Upon
the occurrence of an Event of Default, the entire unpaid principal amount of this Note, together with interest thereon shall forthwith
become and be due and payable;

 

(ii)       Any
amount of principal, interest, other amounts due hereunder or penalties on this Note, which is not paid by the Maturity Date as specified
herein, shall bear interest at the lesser of the rate of twenty two percent (22%) per annum or the maximum legal amount permitted by law,
from the due date thereof until the same is paid (“Default Interest”). The Holder, at its sole election subsequent to the
Maturity Date, may at any time convert the Default Interest into shares of common stock of the Company at the Interest Conversion Price
(as defined above); and

 

(iii)       Upon
the occurrence and during the continuation of an Event of Default, the Company shall incur a monthly monitoring fee (“Monitoring
Fee”) in the amount of five thousand Dollars ($5,000) per month commencing in the month in which the Event of Default occurs and
continuing until the Event of Default is cured in order to cover the Holder’s costs of monitoring and legal expenses and other expenses
incurred by Holder.

 

(c)    
Rights of the Holder. Nothing in this Note shall be construed to modify, amend or limit in
any way the right of the Holder to bring an action against the Company.

 

ARTICLE 2. 

Miscellaneous

 

(a)    
Prepayments and Partial Payments. The Company may prepay this Note in whole or in part at
any time; provided, that any partial payment of principal shall be accompanied by payment of accrued interest to the date of prepayment.

 

(b)    
Transferability. This Note shall not be transferred except in a transaction exempt from registration
pursuant to the Securities Act and applicable state securities law. The Company shall treat as the owner of this Note the person shown
as the owner on its books and records. The term “Holder” shall include the initial holder named on the first page of this
Note and any subsequent holder of this Note.

 

    

     

    

 

(c)    
WAIVER OF TRIAL BY JURY. IN ANY LEGAL PROCEEDING TO ENFORCE PAYMENT OF THIS NOTE, THE COMPANY
WAIVES TRIAL BY JURY.

 

(d)    
Usury Saving Provision. All payment obligations arising under this Note are subject to the
express condition that at no time shall the Company be obligated or required to pay interest at a rate which could subject the holder
of this Note to either civil or criminal liability as a result of being in excess of the maximum rate which the Company is permitted by
law to contract or agree to pay. If by the terms of this Note, the Company is at any time required or obligated to pay interest at a rate
in excess of such maximum rate, the applicable rate of interest shall be deemed to be immediately reduced to such maximum rate, and interest
thus payable shall be computed at such maximum rate, and the portion of all prior interest payments in excess of such maximum rate shall
be applied and shall be deemed to have been payments in reduction of principal.

 

(e)    
Notice to Company. Notice to the Company shall be given to the Company at its principal executive
offices, presently located at 555 Madison Avenue, 5th Floor, New York, New York 10022, attention of CEO, or to such other address
or person as the Company may, from time to time, advise the holder of this Note, or to the holder of this Note at the address set forth
on the Company’s records. Notice shall be given by hand delivery, certified or registered mail, return receipt requested, overnight
courier service which provides evidence of delivery, or by telecopier if confirmation of receipt is given or of confirmation of transmission
is sent as herein provided.

 

(f)     
Governing Law. This Note shall be governed by the laws of the State of Nevada applicable to
agreements executed and to be performed wholly within such State. The Company hereby (i) consents to the non-exclusive jurisdiction of
the United States District Court sitting in the Southern District of New York in any action relating to or arising out of this Note, (ii)
agrees that any process in any such action may be served upon it, in addition to any other method of service permitted by law, by certified
or registered mail, return receipt requested, or by an overnight courier service which obtains evidence of delivery, with the same full
force and effect as if personally served upon him and (iii) waives any claim that the jurisdiction of any such tribunal is not a convenient
forum for any such action and any defense of lack of in personam jurisdiction with respect thereto.

 

(g)    
Expenses. In the event that the Holder commences a legal proceeding in order to enforce its
rights under this Note, the Company shall pay all reasonable legal fees and expenses incurred by the Holder with respect thereto, if the
Holder is successful in enforcing such action.

 

IN
WITNESS WHEREOF, the Company has executed this Note as of the date and year first aforesaid.

 

	 	SENTIENT BRANDS HOLDINGS INC.
	 	 	 
	 	 	 
	 	By:	/s/George Furlan 
	 	Name:	George Furlan
	 	Title:	CEO

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