Document:

ceru-ex102_108.htm

 

Exhibit 10.2

 

 

 

SUMMARY OF NON-EMPLOYEE DIRECTOR COMPENSATION POLICY

 

The board of directors (the “Board”) of Cerulean Pharma Inc. (the “Company”) has approved a non-employee director compensation policy.  Under this non-employee director compensation policy, the Company will pay its non-employee directors retainers in cash, unless a director elects to receive his or her retainer for a given calendar year in the form of awards of unrestricted shares of the Company’s common stock, as described below.  Each non-employee director will receive a retainer for service on the Board and for service on each committee of which the director is a member.  The chairmen of the Board and of each committee will receive higher retainers for such service. The amounts of the retainers are as follows:

 

							
	
 
	
 
	
 
	
 
	
Annual Retainer ($)
	
 

	
Board of Directors
	
 
	
 
	
 
	
 
	
 
	
 

	
     Chairman
	
 
	
 
	
 
	
 
	
65,000
	
 

	
     Member
	
 
	
 
	
 
	
 
	
35,000
	
 

	
Committees of the Board of Directors
	
 
	
 
	
 
	
 
	
 
	
 

	
     Audit
	
 
	
Chair
	
 
	
 
	
20,000
	
 

	
 
	
 
	
Member
	
 
	
 
	
7,500
	
 

	
     Compensation
	
 
	
Chair
	
 
	
 
	
15,000
	
 

	
 
	
 
	
Member
	
 
	
 
	
5,000
	
 

	
     Nominating and Corporate Governance
	
 
	
Chair
	
 
	
 
	
10,000
	
 

	
 
	
 
	
Member
	
 
	
 
	
3,500
	
 

	
     Clinical Advisory
	
 
	
Chair
	
 
	
 
	
20,000
	
 

	
 
	
 
	
Member
	
 
	
 
	
10,000
	
 

 

These retainers are payable in arrears in four equal quarterly installments on the last day of each quarter, provided that the amount of such payment shall be prorated for any portion of such quarter during which the director was not serving.  The Company will also reimburse its non-employee directors for reasonable travel and other expenses incurred in connection with attending Board and committee meetings.

 

Each non-employee director may elect to receive up to 100% of these retainers in the form of awards of unrestricted shares of the Company’s common stock, issued on the last day of each quarter for a number of shares of the Company’s common stock equal to (x) the amount of the cash retainer that would otherwise have been payable to such director on the date of grant divided by (y) the fair market value of the Company’s common stock on the date of grant.  Directors wishing to make this election for a given calendar year must make the election on or before the last day of the prior calendar year, except that the election with respect to calendar year 2016 and in any year in which a director is newly elected must be made on or before June 30th of such year or such other date as determined by the Board.

 

Each director newly elected to the Board will receive an initial option to purchase 22,000 shares of the Company’s common stock. Each of these options will vest as to one-third of the shares of our common stock underlying such option on each anniversary of the grant date until the third anniversary of the grant date, subject to the director’s continued service as a director, and will become exercisable in full upon a change in control of the Company.  Further, on the date of each annual meeting of stockholders, each director that has served on the Board for at least six months will receive an option to purchase 20,000 shares of the Company’s common stock.  Each of these options will vest in full on the earlier of the first anniversary of the date of grant or immediately prior to the Company’s first annual meeting of stockholders occurring after the date of grant, subject to the director’s continued service as a director, and will become exercisable in full upon a change in control of the Company.

 

The exercise prices of the options granted under the Company’s non-employee director compensation policy will equal the fair market value of the Company’s common stock on the date of grant.EX-10.1.34

 Exhibit 10.1.34 

THE USE OF THE FOLLOWING NOTATION IN THIS EXHIBIT INDICATES THAT THE 

CONFIDENTIAL PORTION HAS BEEN OMITTED PURSUANT TO A REQUEST FOR 

CONFIDENTIAL TREATMENT AND THE OMITTED MATERIAL HAS BEEN FILED 

SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION: [***] 

AMENDMENT THREE (TO THIRD AMENDED AND RESTATED IN-FLIGHT 

CONNECTIVITY SERVICES AGREEMENT) 

This Amendment Three (this “Amendment”), to the Third Amended and Restated In-Flight Connectivity Services Agreement, dated as of
September 13, 2012, as amended by Amendment One and Amendment Two thereto dated as of September 13, 2012 and May 30, 2014, respectively (collectively, the “Original Agreement”), by and between American Airlines, Inc.
(“American”) and Gogo LLC (“Gogo” or “Supplier”) is made and entered into on the later of the dates set forth at the bottom of the signature blocks below, but effective as of the 1st day of February, 2015 (the
“Effective Date”). Capitalized terms used but not defined herein shall have the meanings set forth in the Original Agreement. 

WHEREAS, American and Gogo desire to amend the terms of the Original Agreement to add certain additional
regional jet aircraft to the scope of coverage thereunder, to reflect certain agreed-upon terms with respect to the installation of Gogo equipment and provision of Gogo services on such aircraft and to make other agreed upon changes; 

NOW, THEREFORE, in consideration of the foregoing premises and the covenants contained
herein, American and Gogo agree as follows: 
  

	 	1.	Amendment. As of the Effective Date, the Original Agreement is hereby amended as follows: 

  

	 	a.	Section 1.37.1 is replaced in its entirety by: 

 “Regional Jet Fleet means the
Initial Regional Jet Fleet, the Subsequent Regional Jet Fleet and any other regional jet aircraft that are added to this Agreement as Additional Aircraft subsequent to the execution of Amendment Three to this Agreement.” 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	b.	Section 1.30.1 is amended by adding “and Exhibit A-6” after “Exhibit A-5”. 

  

	 	c.	The following language is added as new Section 1.47.1 in the Original Agreement: 

“Subsequent Regional Jet Fleet” means the Fleet Type consisting of the two class regional jet aircraft listed in
Exhibit A-6.” 
  

	 	d.	Section 1.54 is amended by deleting it in its entirety and replacing it with the following language: 

““Trigger Date” means [***].” 
  

	 	e.	Section 2.5 is amended by (i) inserting the following as the new third sentence:: 

“[***]”. 
 and
(ii) deleting the word “[***]” from the fourth (previously third) sentence. 
  

	 	f.	Section 3.6.2 is amended by deleting the word “[***]” from the entire section. 

  

	 	g.	The third and final sentence of Section 5 is amended by deleting the word “[***]”. 

  

	 	h.	Section 5.2.1 is amended by deleting the word “[***]” from the last sentence. 

  

	 	i.	Section 5.2.2 is amended by: (i) deleting the word “[***]” from the heading and the subsequent paragraph, and (ii) deleting the second, third and fourth sentences and replacing them with the
following: 

 “[***]” 
  

	 	j.	Section 6.4 is amended by deleting the word “[***]” from the entire section. 

  

	 	k.	Section 8.1.1.2 is amended by deleting the word “[***]” from the entire section .  

  

	 	l.	Sections 8.1.1.3 and 8.1.1.4 are amended by deleting the word “[***]” from the entire section. 

  

	 	m.	Section 8.1.3.2.2 is amended by deleting the word “[***]” from the entire section. 

  

	 	n.	Section 8.1.4 is amended by (i) deleting the word “[***]” from the entire section, (ii) deleting the phrase “[***]” in the third sentence and replacing it with the phrase “[***],”
and (iii) replacing the word “[***],” by “[***]” in the fourth sentence. 

  
 Page 2 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	o.	Section 8.1.5 is amended by deleting it in its entirety and replacing it with the following language: 

“8.1.5 Maintenance, Training and Support. Gogo will maintain the ABS Equipment during the Term of this Agreement and will
establish and follow a maintenance program sufficient to enable it to provide the level of service and support required under the applicable Service Levels;[***]. Gogo shall maintain an FAA repair station certification and shall obtain
American’s quality assurance approval for all repair stations utilized for repair of the ABS Equipment. Repair subcontractors may only be used with the prior written approval of American, with approval based solely on their ability to meet
American’s published Quality Assurance Standards and obtain FAA repair station certification. In addition Gogo agrees that the maintenance program will be designed such that routine maintenance can be provided within the footprint of
American’s existing maintenance program and flight operations schedule. A detailed list of ABS Equipment maintenance services provided by Gogo pursuant to the terms of this Agreement is set forth in Exhibit G, G-1 and
G-2, as applicable. American agrees to provide Gogo such access to Retrofit A/C as is required to allow Gogo to perform routine maintenance consistent with the terms set forth in Exhibit G, G-1 or G-2, as
applicable. [***]. Gogo will also provide such support and training services for the Transcon, 737 and 757 Fleets as described in Exhibits F, Q and R, respectively, and as otherwise reasonably requested by American for
the operation of the ABS Equipment and Software. 
  

	 	p.	Section 11.2.1 is amended by deleting the word “[***]” from the entire section. 

  

	 	q.	Section 11.5 is amended by deleting the word “[***]” from the entire section. 

  

	 	r.	Section 13.5.1 is amended by deleting it in its entirety and replacing it with the following: 

“ 13.5.1 American will have the right to terminate this Agreement as to (a) all Fleet Types other than the Regional Jet Fleet
(collectively, the “Mainline Fleet”) at any time on or after the sixth (6th) anniversary of the Trigger Date for the last retrofitted Fleet Type in the Mainline Fleet, and
(b) the Regional Jet Fleet at any time on or after the sixth anniversary of the final Trigger Date for the Regional Jet Fleet, in each case by giving at least [***] written notice thereof to Gogo and paying Gogo an amount equal to the amount
obtained by multiplying (A) [***] by (B) Gogo’s [***] from Connectivity Revenues from the terminated Fleet Types earned by Gogo in the year ending on the applicable anniversary of the Trigger Date.” 

  
 Page 3 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	s.	Section 2.1 of Exhibit J is amended by deleting the word “[***]” from the entire section.” 

  

	 	t.	The exhibits attached hereto as Exhibits 1 and 2 are hereby attached to and incorporated by reference in the Agreement as Exhibits A-6 and G-2, respectively. 

 

	 	2.	Entire Agreement/Amendment/Representation. This Amendment constitutes the full and complete understanding of the parties with respect to the subject matter of this Amendment and supersedes all prior
agreements and understandings between the parties with respect to the subject matter. This Amendment may be modified only by written agreement signed by an authorized representative of both parties. American hereby represents and warrants that it
has authority to execute and deliver this Amendment and perform its obligations hereunder and under the Original Agreement (as amended by this Amendment) with respect to the Subsequent Regional Jet Fleet (as defined in Section 1(c) of this
Amendment), and such execution, delivery and performance by American will not conflict with any provision of any contract between American and any operator of any aircraft in such fleet or require the consent of any counterparty to any such
contract. Similarly, Gogo hereby represents and warrants that it has authority to execute and deliver this Amendment and perform its obligations hereunder and under the Original Agreement (as amended by this Amendment) with respect to the Subsequent
Regional Jet Fleet (as defined in Section 1(c) of this Amendment), and such execution, delivery and performance by Gogo will not conflict with any provision of any contract between Gogo and any other party or require the consent of any
counterparty to any such contract. 

  

	 	3.	Effectiveness of Agreement. The Original Agreement remains in full force and effect except as specifically amended by this Amendment. 

[REMAINDER OF PAGE INTENTIONALLY BLANK-SIGNATURE PAGE FOLLOWS] 

  
 Page 4 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

									
	 SUPPLIER:
  

GOGO LLC
	 		 	 AMERICAN:
  

AMERICAN AIRLINES, INC.

					
	By:	 	 /s/ Michael Small
	 		 	By:	 	 /s/ Robert Isom

	Title:	 	President and CEO	 		 	Title:	 	EVP – COO
					
	Date:	 	4/19/16	 		 	Date:	 	5/20/16

  
 Page 5 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

 Exhibit 1 to Amendment 

Exhibit A-6 
 KIT ON
DOCK SCHEDULE FOR SUBSEQUENT REGIONAL JET FLEET 
 Gogo will schedule deliveries of the Shipsets as requested by American at least [***] days prior
to aircraft delivery “Kit on dock (KOD)” dates. The tentative KOD dates are set forth below. Changes to this schedule are permissible by mutual consent of both parties but changes to KOD dates are permissible by Purchase Order
Supplement.. 
  

	*	Actual KOD dates will be confirmed via Purchase Orders. 

  

	**	Shipsets will be delivered by Gogo to the dock shipping address to be provided on the Purchase Orders. 

  

	 	A.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 6 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	B.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 7 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	C.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 8 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	D.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 9 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	E.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 10 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	F.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 11 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

	 	G.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 12 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 

  

  

	 	H.	[***] Fleet: 

  

											
	 Count
	 	 Type
	 	 Operator
	  	 AC#
	  	 Dock
	  	 KOD

[***] 

  
 Page 13 

 Amendment Three (to Third Amended and Restated In-Flight Connectivity 

Services Agreement) 
  

  

 Exhibit 2 to Amendment 

Exhibit G-2 

Maintenance, Repairs and Spares Provisioning for the Subsequent Regional Jet Fleet 

 

	 	a.	During the term of this Agreement, spares will be owned and provisioned by Gogo and provided to American or the Operator as applicable for use on the Subsequent Regional Jet Fleet at the locations as mutually agreed to
by the Parties. American expects and Gogo will provide a mutually agreed system wide spares provisioning level.[***]. The parties agree and acknowledge that AA wishes to perform touch labor on certain Retrofit A/C, including select Retrofit A/C in
the Subsequent Regional Jet Fleet, and that the details of such arrangement shall be set forth in a subsequent written agreement. 

  

	 	i.	Part Numbers and Pricing: 

  

											
	 Item
	  	 Part Number
	  	 Quantity
	  	 Replacement Price
(unit)
	  	 Price (Unit Based on
Full Kit)
	  	 Spares Pool
Price*
(unit)

 [***] 
  

	 	b.	[***] 

  

	 	c.	[***] 

  

	 	d.	[***] 

  

	 	e.	[***] 

  

	 	f.	[***] 

  
 Page 14

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