Document:

EX-10.9

 Exhibit 10.9 
  

 
  
  

February 25, 2017 
 Dear Gavin, 

On behalf of Abpro (the “Company”), I am pleased to offer you the position of CSO, reporting to Ian Chan, CEO. Details of our offer are as follows:

  

	 	1.	Effective Date: Your full-time employment with the Company shall start on March 1, 2017 (the “Commencement Date”). 

 

	 	2.	Compensation: Your base salary will be $325,000 per year paid on a biweekly pay period basis. You are also eligible to participate in the Company’s annual performance-based bonus program with the potential
to earn bonuses upon reaching company/individual milestones of up to 30% of base. You are eligible for a bonus higher than this % should you exceed all performance parameters. All payments and other amounts contemplated to be payable by this letter
will be reduced by all tax or other amounts required to be withheld under applicable law. Abpro will pay you a one-time initial cash. bonus of $30,000. 

  

	 	3.	Stock Options: Subject to approval by the Board of Directors (or an appropriate Committee appointed by the Board of Directors), and pursuant to a written stock option agreement entered into by and between you and
the Company (the “Option Agreement”), you are also eligible to participate in the Company’s stock options program, with an initial grant of 228,000 stock options. 3,000 stock options will be vested upon initial grant. You will be
eligible to receive another 45,000 shares of restricted stock (exercise price at FMV at time of grant) at date of hire, with these shares subject to forfeiture should an IND not be filed on any one program before the end of 2018. 

 

	 	4.	Benefits: You may participate in any and all of the benefit programs that the Company establishes and makes available to its employees from time to time, provided you are eligible under (and subject to all
provisions of) the plan documents governing these programs including insurance benefits as well as paid time off and holidays. 

 Our offer is
contingent upon (1) the successful completion of a background check; (2) your execution of a Non-Disclosure agreement and Non-compete, copies of which will be
presented during onboarding for signing; and (3) submission of an I-9 Employment Eligibility Verification Form acceptable to the Company within three (3) days of your date of employment. You must be
prepared to offer proof of your employability in the United States in accordance with the requirements listed on the I-9 Form within the first three (3) days of employment. 

You represent that you are not bound by any employment contract, restrictive covenant or other restriction preventing you from entering into this agreement or
carrying out your responsibilities for the Company as contemplated hereby, or which is in any way inconsistent with any of the terms hereof. You further represent that you will not breach the terms of any other agreement to keep in confidence
proprietary information, knowledge or data you may have acquired in confidence or in trust prior to beginning your employment with the Company. You confirm that the resume you provided the Company is accurate and does not include any
misrepresentations about prior employment or education. 

 Notwithstanding the foregoing, or anything else in this offer letter, in the event that you are separated from
employment without cause, you will be eligible to receive severance consisting of six (6) months of continued base compensation, provided that you sign a separation agreement and release prepared by Abpro, and provided that you sign and return
the attached, “Agreement Not To Disclose Confidential And/Or Proprietary Information, And Agreement Not To Solicit Employees, Customers Or Prospective Customers And Not To Compete With Abpro, Inc.” (the “Confidentiality
Agreement”) on your start date. Note that payment of any continued compensation under this provision will require strict adherence to the Confidentiality Agreement. For purposes of this provision, “cause” will mean (1) poor
work performance, as determined by the Company; or (2) misconduct, as determined by the Company, or (3) any conduct that the Company deems materially harmful to its business, interests, or reputation. 

As indicated above, the Company is an at will employer, which means that either you or the Company may terminate the employment relationship at any time with
or without notice and with or without reason. This letter is not to be construed as an agreement, either expressed or implied, to employ you for any stated term. 

Please accept our offer of employment by signing the enclosed copy of this letter and agreements and returning all documents to Abpro by February 28,
2017, at which point the offer will expire. 
 Sincerely, 
  

			
	 /s/ Ian Chan
	  	
	Ian Chan	  	

 I hereby accept employment with Abpro on the terms and conditions set forth above. 

 

					
	 /s/ Gavin MacBeath
	 		 	     02/27/2017

	Signature	 		 	Date
			
	 Gavin MacBeath
	 		 	
	Print NameEX-10.10

 Exhibit 10.10 
  

 
 December 8, 2016 

Dr. Robert Langer 
 Dear Bob, 

We thank you for your consideration of a position as a member of the Board of Directors (Board) of AbPro Corporation (Company). As we have
discussed, the Company is pleased to offer you a position as a member of its Board for an initial three-year term, effective as of the date of the next regularly scheduled Board meeting to be held after your acceptance of this offer. 

Our Board meetings are generally held on site at the Company’s offices on a quarterly basis and we hope that your schedule will permit
you to attend all of the meetings. In addition, there may be special meetings as well as telephone conference calls to address special projects that arise from time to time. The Board plans to delegate certain duties to committees established by the
Board, and you may be asked to participate on one or more such committees. 
 As compensation for your services as a director of the
Company, you will be granted a restricted stock award/non-qualified stock options (can discuss which option you would like to pursue) for 15,000 shares of the Company’s Common Stock, structured as
Restricted Stock. As set forth below, the shares will be subject to forfeiture and repurchase by the Company at cost during the three year term of Board service. If you do not continue to serve as a director during the initial 12 month period once
you are appointed to the Board, the Company may repurchase all of the shares awarded to you. If you do not continue to serve as a director during the period on and after the one-year anniversary of your
appointment to the Board and prior to the two-year anniversary of your appointment to the Board, the Company may repurchase two-thirds of the shares awarded to you.
Finally, if you do not continue to serve as a director during the period on and after the two-year anniversary of your appointment to the Board and prior to the three-year anniversary of your appointment to
the Board, the Company may repurchase one-third of the shares awarded to you. to the extent that the Company imposes any restrictions with respect to the shares held by officers and directors of the Company,
your shares will be subject to such restrictions. 
 As additional compensation for your services as a director of the Company, the Company
will provide you with cash compensation in the amount of $75,000 per year on the effective date of this agreement, increasing to $100,000 per year at the close of the upcoming Series D round, and $150,000 per year at the close of either of the
Series E or IPO. 
 The Company will al so reimburse all reasonable expenses you may incur in connection with your services to the Company,
including reimbursement for travel to Board meetings. All expense reimbursements must be in accordance with established Company policies. 

 

 
 Nothing in this offer or in any restricted stock award agreement should be construed to interfere with or
otherwise restrict in any way the rights of the Company and the Company’s stockholders to remove any individual from the Board at any time in accordance with the provisions of applicable law. 

This letter sets forth the terms of your service with the Company and supersedes any prior representations or agreements, whether written or
oral. This letter may not be modified or amended except by a written agreement, signed by an officer of the Company and by you. 
 We hope
that you find the foregoing terms acceptable. Please indicate your agreement with these terms and accept this offer by signing and dating both the enclosed duplicate and original letter and returning the duplicate to me. 

Bob, we are looking forward to you joining the Company’s Board of Directors. We believe you will make a significant contribution to the
Company and will help us to navigate our way through the future direction of the Company. 
  

	
	Sincerely,
	
	Abpro Corporation
	
	/s/ Ian Chan
	
	Ian Chan
	 Chairman, Chief Executive Officer
 on behalf of
the Abpro Board of Directors

  

	
	 Accepted and agreed to this
 13 day of December,
2016

	
	 /s/ Robert Langer

 Robert LangerEX-10.11

 Exhibit 10.11 
  

 
 August 2, 2017 
 Abpro

 65 Cummings Park Drive 
 Woburn, MA 01801 

Fred Driscoll 
 Address 

Dear Fred, 
 We are pleased to have you join our
Board of Directors. Please find the details below. 
 Independent Director Agreement 

Independent Director Agreement, dated and effective as of August 1, 2017, by and between Abpro Corporation, a Delaware corporation (the
“Company”), and the undersigned, Fred Driscoll, who is invited to become a member of the Company’s Board of Directors (the “Board Member”). 

WHEREAS, the Company has invited the Board Member to join the Board of Directors as a
non-employee, non-executive Director, and the Board Member has agreed to serve as a member of the Board of Directors; and 

WHEREAS, the Board Member and the Company agree that certain information regarding the Company’s product research and development
activities, its product development plan, business plan and marketing strategy, vendors, and other proprietary information and trade secrets relating to the intellectual property and business of the Company that the Board Member may work on, review
or obtain during the course of this services shall be used exclusively for the benefit of the Company. 
 NOW, THEREFORE, in
consideration of the covenants and promises made herein, the parties agree as follows: 
 1. Member of Board of Directors. The Board
Member agrees to serve as a member of the Board of Directors. The Board Member’s responsibilities as a director will include attending regularly scheduled and special meetings of the Board of Directors that may be called from time to time, as
well as being available as may be needed for telephone conference calls to address special projects that may arise from time to time. It is anticipated that the Company will convene at least four (4) regularly scheduled meetings per calendar
year and up to 40 hours per year of strategic planning. 
 2. Compensation; Expenses. In consideration of your continuing service as
a member of the Board of Directors, the Company will pay you $65,000 per year in cash payable quarterly and grant you 50,000 stock option at FMV subject to BOD determination. In addition, the Company will reimburse all reasonable expenses that the
Board Member may incur in connection with his or her performance of services as a member of the Board. All expense reimbursements shall be made in accordance with established Company policies. 

 

 

 
 3. Duties of Nondisclosure; Assignment of Inventions; Non-solicitation. The Board Member agrees to
use his or her best efforts to serve as a member of the Board of Directors, and to exercise with all diligent effort, the fiduciary duties of due care and loyalty on behalf of the Company. The Board Member will not directly or indirectly use,
disclose, publish or in any way make available to, or for the benefit of himself or herself or any third party, any confidential information relating to the business, strategy, marketing and financing plans, operations, financial condition,
management, intellectual property, designs and projects, potential or actual strategic partners and alliances, and other confidential, non-public business information and trade secrets of the Company. The
Board Member will not at any time, without the prior written authorization of the Company, reveal, use for internal analysis purposes, report, publish, transfer or disclose to any third party any such confidential information of the Company or its
customers or partners. The Board Member will not recruit, solicit, or hire any employee or consultant of the Company on behalf of another enterprise, and will not solicit or divert business away from the Company with any customer, contract research
organization or strategic partner of the Company on behalf of a competitive enterprise. Any ideas, concepts, confidential information or copyrightable materials which are authored or developed by the Board Member and which relate to the
Company’s business or products or result from advice rendered to the Company shall be deemed “works for hire” and shall be owned by the Company. Nothing in this Section 3 shall be deemed to in any way limit the Board
member’s fiduciary obligations under law. 
 4. Not a “Bad Actor”. The Board Member hereby represents and warrants to
the Company that none of the “bad actor” disqualifying events described in Rule 506(d)(1)(i)-(vii) promulgated under the Securities Act of 1933, as amended (each, a “Disqualification Event”), is applicable the Board Member
except, if applicable, for a Disqualification Event as to which Rule 506(d)(2)(ii) or (iii) or (d)(3) is applicable. 
 5. General
Provisions. The Company is not by reason of this Agreement obligated to continue to maintain a business relationship with the Board Member in any capacity, whether employment, advisory, consulting, as a member of its Board of Directors or
otherwise. Nothing in this Agreement shall be construed to interfere with or otherwise restrict in any way the rights of the Company and the Company’s stockholders to remove the Board Member from the Board of Directors at any time in accordance
with the provisions of applicable law and the Company’s Certificate of Incorporation and Bylaws. This Agreement may be executed in one or more counterparts, each of which shall be deemed to be an original, but all of which taken together shall
constitute one and the same instrument, and may also be executed and delivered by facsimile transmission or electronic signature. This Agreement constitutes the entire agreement of the parties with respect to the subject matter hereof relating to
the service of the Board Member and the compensation associated with such service. If any provision of this Agreement shall be held to be illegal, invalid or unenforceable, such illegality, invalidity or unenforceability shall attach only to such
provision and shall not in any manner affect or render illegal, invalid or unenforceable any other severable provision of this Agreement, and this Agreement shall be carried out as if any such illegal, invalid or unenforceable provision were not
contained herein. This Agreement shall be construed in accordance with and governed by the laws of the Commonwealth of Massachusetts, and any action to enforce this Agreement shall be located in the courts in Massachusetts. 

This Agreement has been executed by the parties as an instrument under seal as of the date and year first above written. 

 

									
	Abpro Corporation	  		  		  	Board Member:
					
	By:	  	 /s/ Ian Chan
	  		  		  	 /s/ Fred Driscoll

	Name:	  	Ian Chan	  		  		  	Fred Driscoll
	Title:	  	Chairman, CEO

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