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Exhibit 10.7

GOSSAMER BIO, INC.

NON-EMPLOYEE DIRECTOR COMPENSATION PROGRAM

Non-employee members of the board of directors (the “Board”) of Gossamer Bio, Inc. (the “Company”) shall receive cash and equity compensation as set forth in this Non-Employee Director Compensation Program (this “Program”). This Program has been adopted under the Company’s 2019 Incentive Award Plan (the “Equity Plan”) and shall be effective on the Effective Date. The cash and equity compensation described in this Program shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of the Company or any parent or subsidiary of the Company (each, a “Non-Employee Director”) who is entitled to receive such cash or equity compensation, unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company. This Program shall remain in effect until it is revised or rescinded by further action of the Board. This Program may be amended, modified or terminated by the Board at any time in its sole discretion. The terms and conditions of this Program shall supersede any prior cash and/or equity compensation arrangements for service as a member of the Board between the Company and any of its Non-Employee Directors. No Non-Employee Director shall have any rights hereunder, except with respect to stock options granted pursuant to the Program. Capitalized terms not otherwise defined herein shall have the meanings ascribed in the Equity Plan. All share numbers in this Program give effect to the reverse stock split to be effected by the Company in connection with its initial public offering.

1.Cash Compensation.

(a) Annual Retainers. Each Non-Employee Director shall receive an annual retainer of $40,000 for service on the Board.

(b) Additional Annual Retainers. In addition, each Non-Employee Director shall receive the following additional annual retainers, as applicable:

(i) Chairperson of the Board. A Non-Employee Director serving as Chairperson of the Board shall receive an additional annual retainer of $30,000 for such service.

(ii) Independent Lead Director. A Non-Employee Director serving as Independent Lead Director of the Board shall receive an additional annual retainer of $25,000 for such service.

(iii) Audit Committee. A Non-Employee Director serving as Chairperson of the Audit Committee shall receive an additional annual retainer of $15,000 for such service. A Non- Employee Director serving as a member of the Audit Committee (other than the Chairperson) shall receive an additional annual retainer of $7,500 for such service.

(iv) Compensation Committee. A Non-Employee Director serving as Chairperson of the Compensation Committee shall receive an additional annual retainer of $12,000 for such service. A Non-Employee Director serving as a member of the Compensation Committee (other than the Chairperson) shall receive an additional annual retainer of $6,000 for such service.

(v) Nominating and Corporate Governance Committee. A Non-Employee Director serving as Chairperson of the Nominating and Corporate Governance Committee shall receive an 

additional annual retainer of $8,000 for such service. A Non-Employee Director serving as a member of the Nominating and Corporate Governance Committee (other than the Chairperson) shall receive an additional annual retainer of $4,000 for such service.

(c) Payment of Retainers. The annual retainers described in Sections 1(a) and 1(b) shall be earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in arrears not later than the fifteenth day following the end of each calendar quarter. In the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 1(b), for an entire calendar quarter, the retainer paid to such Non-Employee Director shall be prorated for the portion of such calendar quarter actually served as a Non-Employee Director, or in such position, as applicable.

     2. Equity Compensation. Non-Employee Directors shall be granted the equity awards described below. The awards described below shall be granted under and shall be subject to the terms and provisions of the Equity Plan, or any other applicable Company equity incentive plan then-maintained by the Company, and shall be granted subject to the execution and delivery of award agreements, including attached exhibits, in substantially the forms previously approved by the Board. All applicable terms of the Equity Plan apply to this Program as if fully set forth herein, and all grants of stock options hereby are subject in all respects to the terms of the Equity Plan and the applicable award agreement. For the avoidance of doubt, the share numbers in this Section 2 shall be subject to adjustment as provided in the Equity Plan, including with respect to any reverse stock split of the Company’s common stock effected on or prior to the Effective Date.

(a) Initial Awards. Each Non-Employee Director who is initially elected or appointed to the Board after the Effective Date shall receive an option under the Equity Plan, or any other applicable Company equity incentive plan then-maintained by the Company, to purchase 60,000 shares of the Company’s common stock on the date of such initial election or appointment. The awards described in this Section 2(a) shall be referred to as “Initial Awards.” No Non-Employee Director shall be granted more than one Initial Award.

(b) Subsequent Awards. A Non-Employee Director who (i) is serving on the Board as of the date of any annual meeting of the Company’s stockholders after the Effective Date and has been serving as a Non-Employee Director for at least six months as of the date of such meeting, and (ii) will continue to serve as a Non-Employee Director immediately following such meeting, shall be automatically granted an option under the Equity Plan, or any other applicable Company equity incentive plan then- maintained by the Company, to purchase 30,000 of the Company’s common stock on the date of such annual meeting. The awards described in this Section 2(b) shall be referred to as “Subsequent Awards.” For the avoidance of doubt, a Non-Employee Director elected for the first time to the Board at an annual meeting of the Company’s stockholders shall only receive an Initial Award in connection with such election, and shall not receive any Subsequent Award on the date of such meeting as well.

(c) Termination of Employment of Employee Directors. Members of the Board who are employees of the Company or any parent or subsidiary of the Company who subsequently terminate their employment with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Award pursuant to Section 2(a) above, but to the extent that they are otherwise entitled, will receive, after termination from employment with the Company and any parent or subsidiary of the Company, Subsequent Awards as described in Section 2(b) above.

(d) Terms of Awards Granted to Non-Employee Directors

(i) Purchase Price. The per share exercise price of each option granted to a Non-Employee Director shall equal the Fair Market Value of a share of common stock on the date the option is granted.

(ii) Vesting. Each Initial Award shall vest and become exercisable in thirty- six (36) substantially equal monthly installments over the three (3) years following the date of grant, subject to the Non-Employee Director continuing in service on the Board through each such vesting date. Each Subsequent Award shall vest and/or become exercisable on the first to occur of (A) the first anniversary of the date of grant or (B) the next occurring annual meeting of the Company's stockholders, subject to the Non-Employee Director continuing in service on the Board through such vesting date. Unless the Board otherwise determines, no portion of an Initial Award or Subsequent Award which is unvested and/or exercisable at the time of a Non-Employee Director’s termination of service on the Board shall become vested and/or exercisable thereafter. Upon a Change in Control, all outstanding equity awards granted under the Equity Plan, and any other equity incentive plan maintained by the Company, that are held by a Non-Employee Director shall become fully vested and/or exercisable, irrespective of any other provisions of the Plan or any award agreement.

(iii) Term. The term of each stock option granted to a Non-Employee Director shall be ten (10) years from the date the option is granted.

3. Compensation Limits. Notwithstanding anything to the contrary in this Program, all compensation payable under this Program will be subject to any limits on the maximum amount of Non- Employee Director compensation set forth in the Equity Plan, as in effect from time to time.

4. Reimbursements. The Company shall reimburse each Non-Employee Director for all reasonable, documented, out-of-pocket travel and other business expenses incurred by such Non-Employee Director in the performance of his or her duties to the Company in accordance with the Company’s applicable expense reimbursement policies and procedures as in effect from time to time.

* * * * *Exhibit 10.1

 

AMENDMENT NO. 1 TO SECURITIES PURCHASE AGREEMENT

 

THIS AMENDMENT NO. 1 TO SECURITIES
PURCHASE AGREEMENT (this “Amendment”), dated as of March 3, 2022, is by and among (i) Dragon Victory International
Limited, an exempted company with limited liability, organized and existing under the laws of the Cayman Islands (the “Company”),
(ii) LSQ Investment Fund SPC-Disruptive Opportunity Fund II SP, a Cayman Islands Segregated Portfolio Company (the “1st Closing
Purchaser”), and (iii) each of the Persons whose name is set forth on Schedule A attached thereto (the “2nd Closing
Purchasers” and each a “2nd Closing Purchaser,” together with the 1st Closing Purchaser, the “Purchasers”
and each a “Purchaser,” together with the Company, the “Parties” and each a “Party”).

 

WITNESSETH:

 

WHEREAS, the Parties entered
into a Securities Purchase Agreement dated August 6, 2021, (the “Securities Purchase Agreement”); and

 

WHEREAS, the Parties desire
to amend the Securities Purchase Agreement to extend the Closing Deadline (as defined in the Securities Purchase Agreement).

 

NOW, THEREFORE, in consideration
of the premises and mutual covenants herein contained, the Parties hereby agree as follows:

 

1.  Defined
Terms. All capitalized terms used but not defined herein shall have the meanings ascribed to such terms in the Securities Purchase
Agreement.

 

2.  Amendments.
the Parties hereby amend the Securities Purchase Agreement as follows:

 

Section 2.02 (a) shall be deleted in its entirety
and replaced with the following sentence:

 

“(a) Closing. Subject to satisfaction
or, to the extent permissible, waiver by the Party or Parties entitled to the benefit of the relevant Conditions, of all such relevant
Conditions (other than Conditions that by their nature are to be satisfied at Closing, but subject to the satisfaction or, to the extent
permissible, waiver of those Conditions at Closing), (A) the closing of the sale and purchase of the 1st Closing Subscribed Shares pursuant
to this Section 2.02(a) (the “1st Subscription Closing”) shall take place remotely by electronic means on (i) the third Business
Day after the date on which the applicable Conditions (other than the Conditions that by their nature are to be satisfied at Closing,
but subject to the satisfaction or, to the extent permissible, waiver of those Conditions at the Closing) are satisfied, or (ii) any other
date as may be agreed by the 1st Closing Purchaser and the Company in writing (the “1st Subscription Closing Date”), and (B)
each closing of the sale and purchase of the applicable 2nd Closing Subscribed Shares pursuant to this Section 2.02(a) (each, a “2nd
Subscription Closing”) shall take place remotely by electronic means on the day on which the 2nd Closing Purchase Price payable
by such 2nd Closing Purchaser shall have been wired to the Company, and (ii) any other date as may be agreed by the applicable 2nd Closing
Purchasers and the Company in writing (each, a “2nd Subscription Closing Date”; together with the 1st Subscription Closing
Date, each a “Closing Date” ); provided that (i) the 1st Subscription Closing shall occur no later than four (4) months following
the date hereof (the last day of the foregoing four-month period and if such date does not fall on a Trading Day, then the immediately
next Trading Day, the “1st Closing Deadline”), and (ii) any 2nd Subscription Closing shall occur no later than Twelve (12)
months following the effective date of the Registration Statements (as defined in the Registration Rights Agreement) covering the resale
of all of the 2nd Closing Subscribed Shares (the last day of the foregoing five-month period and if such day does not fall on a Trading
Day, then the immediately next Trading Day, the “2nd Closing Deadline”).”

 

     

     

    

 

3.  Ratification.
Except as expressly amended by this Amendment, the terms and conditions of the Securities Purchase Agreement are hereby confirmed and
shall remain in full force and effect without impairment or modification.

 

4.  Conflict.
In the event of any conflict between the Securities Purchase Agreement and this Amendment, the terms of this Amendment shall govern.

 

5.  Governing
Law. This Amendment shall be governed by the internal laws of the State of New York without regard to the conflict of laws principles
thereof.

 

6.  Counterparts.
This Amendment may be executed in any number of counterparts and delivered by email/.pdf format or by facsimile, each of which shall be
deemed to be an original, and all of which taken together shall constitute one and the same instrument.

 

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IN WITNESS WHEREOF,
the Parties have caused this Amendment to be duly executed and delivered on their behalf as of the date first above written.

 

	THE COMPANY:	 
	 	 	 
	DRAGON VICTORY INTERNATIONAL LIMITED
	 	 	 
	By 	/s/ Liu Limin	 
	Name: 	Liu Limin	 
	Title: 	CEO	 
	 	 	 
	1st CLOSING PURCHASER:	 
	 	 	 
	LSQ Investment Fund SPC, a Cayman Islands Segregated
    Portfolio Company, for and on behalf of Disruptive Opportunity Fund II SP
	 	 	 
	By 	/s/ Wang Bingzhong	 
	Name: 	Wang Bingzhong	 
	Title: 	Director	 
	 	 	 
	Sub-Investment Manager at KBR Fund Management Limited,
    in its capacity as sub-investment manager of LSQ Investment Fund SPC-Disruptive Opportunity Fund II SP 
	 	 	 
	By 	/s/ Bob Chan	 
	Name: 	Bob Chan	 
	Title: 	Director	 
	 	 	 
	2nd CLOSING PURCHASER:	 
	 	 	 
	Elephas Global Master Fund	 
	 	 	 
	By 	/s/ Li Yiwen	 
	Name: 	Li Yiwen	 
	Title: 	Director	 
	 	 	 
	Jiayi Huang	 
	 	 	 
	By 	/s/ Jiayi Huang	 
	Name: 	Jiayi Huang	 
	Title: 	N/A	 

 

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	Consulting Company:	 
	 	 	 
	Natural Selection Capital Holdings Limited, a Cayman
    company
	 	 	 
	By 	/s/ Wang Bingzhong	 
	Name: 	Wang Bingzhong	 
	Title: 	Director	 
	 	 	 
	Ni Ming	 
	 	 	 
	By 	/s/ Ni Ming	 
	Name: 	Ni Ming	 

 

 

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