Document:

Exhibit 10.22

 

September 23, 2016

 

 

 

Neuralstem, Inc.

20271 Goldenrod Lane, 2nd floor

Germantown, MD 20876

 

 

 

Re: Neuralstem, Inc. - Subscription for
Shares of Common Stock

 

Ladies and Gentlemen:

 

The undersigned hereby acknowledges and agrees to the following:

 

1.       The undersigned
hereby subscribes for shares totally an aggregate consideration of $10,000 (the “Shares”) of Common Stock, par
value $0.01 per share, of Neuralstem, Inc., a Delaware corporation (the “Corporation”), at a price per share
equal to the closing price of the Common Stock on September 23, 2016 in cash and in accordance with the instructions contained
on Schedule A hereto;

 

2.       The undersigned
(a) has a preexisting personal or business relationship with the Corporation or one or more of its officers or directors, or (b)
by reason of the undersigned’s business or financial experience, or by reason of the business or financial experience of
the undersigned’s financial advisor who is not affiliated with, and who is not compensated directly or indirectly by, the
Corporation or any affiliate or selling agent of the Corporation, the undersigned is capable of evaluating the risks and merits
of an investment in the Shares and or protecting the undersigned’s own interests in connection with the Shares;

 

3.       All of the Shares
so received will be taken by the undersigned for its own account as an investment and not with a view to the distribution thereof;

 

4.       It is understood
that the Corporation will issue the Shares without their registration under the Securities Act of 1933, as amended (the “Act”);
therefore, the Shares may not be resold or transferred unless they are registered under the Act or unless an exemption from registration
is available. The undersigned acknowledges that there are substantial restrictions on the transferability of the Shares and accordingly,
it may not be possible for the undersigned to liquidate an investment in the Corporation;

 

     

     

    

5.       The undersigned
hereby covenants and agrees that the undersigned will, from time to time if requested by the Corporation or its successors or assigns,
do, execute, acknowledge and deliver, or will cause to be done, executed, acknowledged and delivered, to the Corporation or its

successors or assigns, such and all further acts, transfers, assignments,
deeds, powers and assurances of title, and additional papers and instruments, and cause to be done all acts or things as often
as may be proper or necessary for better conveying, transferring and assigning of all of the property hereby conveyed, transferred
or assigned, and effectively to carry out the intent hereof, and to vest in the entire right, title and interest of the undersigned
in and to all of the said property, and the undersigned will warrant and defend the same to the Corporation or its successors or
assigns, forever against all claims or demands whatsoever.

 

IN WITNESS WHEREOF, the undersigned has caused this instrument
to be duly executed and delivered as of the date first above written.

 

Very truly yours,

 

 

 

 

By:

 

 

Jonathan Lloyd Jones

 

 

 

 

 

 

 

 

     

     

    

SCHEDULE A

 

 

On September 23, 2016, $10,000 will be deducted from Mr. Lloyd Jones’
paycheck from Neuralstem, Inc. in order to purchase the shares of common stock as described above.Exhibit 10.23

 

September 11, 2016

 

 

 

Neuralstem, Inc.

20271 Goldenrod Lane, 2nd floor

Germantown, MD 20876

 

 

 

Re: Neuralstem, Inc. - Subscription for
Shares of Common Stock

 

Ladies and Gentlemen:

 

The undersigned hereby acknowledges and agrees to the following:

 

1.       The undersigned
(“Investor”) hereby subscribes for sixty thousand dollars ($60,000) of Common Stock, par value $0.01 per share,
of Neuralstem, Inc., a Delaware corporation (the “Corporation”), in accordance with Schedule A attached
hereto (the “Shares”);

 

2.       The undersigned
(a) has a preexisting personal or business relationship with the Corporation or one or more of its officers or directors, or (b)
by reason of the undersigned’s business or financial experience, or by reason of the business or financial experience of
the undersigned’s financial advisor who is not affiliated with, and who is not compensated directly or indirectly by, the
Corporation or any affiliate or selling agent of the Corporation, the undersigned is capable of evaluating the risks and merits
of an investment in the Shares and or protecting the undersigned’s own interests in connection with the Shares;

 

3.       All of the Shares
so received will be taken by the undersigned for its own account as an investment and not with a view to the distribution thereof;

 

4.       It is understood
that the Corporation will issue the Shares without their registration under the Securities Act of 1933, as amended (the “Act”);
therefore, the Shares may not be resold or transferred unless they are registered under the Act or unless an exemption from registration
is available. The undersigned acknowledges that there are substantial restrictions on the transferability of the Shares and accordingly,
it may not be possible for the undersigned to liquidate an investment in the Corporation;

 

     

     

    

5.       The undersigned
hereby covenants and agrees that the undersigned will, from time to time if requested by the Corporation or its successors or assigns,
do, execute, acknowledge and deliver, or will cause to be done, executed, acknowledged and delivered, to the Corporation or its

successors or assigns, such and all further acts, transfers, assignments,
deeds, powers and assurances of title, and additional papers and instruments, and cause to be done all acts or things as often
as may be proper or necessary for better conveying, transferring and assigning of all of the property hereby conveyed, transferred
or assigned, and effectively to carry out the intent hereof, and to vest in the entire right, title and interest of the undersigned
in and to all of the said property, and the undersigned will warrant and defend the same to the Corporation or its successors or
assigns, forever against all claims or demands whatsoever.

 

IN WITNESS WHEREOF, the undersigned has caused this instrument
to be duly executed and delivered as of the date first above written.

 

Very truly yours,

 

 

 

 

By:

 

 

Richard Daly

 

 

 

 

 

 

 

 

 

 

     

     

    

SCHEDULE A

 

Investor agrees to defer an aggregate of $60,000 of his salary from the Corporation
in accordance with the following schedule:

 

 

	Date of Deferral of Salary	Amount of Deferral	Price per Share
	 	 	 
	September 25, 2016	$10,000	Closing Price on September 23, 2016
	October 25, 2016	$10,000	Closing Price on October 25, 2016
	November 25, 2016	$10,000	Closing Price on November 25, 2016
	December 25, 2016	$10,000	Closing Price on December 23, 2016
	January 25, 2017	$10,000	Closing Price on January 25, 2017
	February 25, 2017	$10,000	Closing Price on February 24, 2017EX-10.1

 Exhibit 10.1 

Executive Compensation Notification 

Chairman, Chief Executive Officer and Chief Operating Officer 

Fiscal 2017 Compensation Program of Chairman, Chief Executive Officer and Chief Operating Officer. 

Fiscal 2017 Base Salaries: Table I below sets forth the fiscal 2017 base salaries for Mr. Horton, Mr. Auld and
Mr. Murray. 
 Table I 
  

									
	 Name
	  	Office	  	Annual Base Salary
Fiscal 2017	 	  	Incentive Bonus
Fiscal 2917
	 Donald R. Horton
	  	Chairman of the Board	  	$	1,000,000	  	  	See Below
	 David V. Auld
	  	President and CEO	  	$	700,000	  	  	See Below
	 Michael J. Murray
	  	Executive Vice
President and COO	  	$	500,000	  	  	See Below

 Fiscal 2017 Annual Incentive Bonus: The Compensation Committee approved performance-based goals
for measuring short-term performance bonuses that may be earned by Mr. Horton, Mr. Auld and Mr. Murray during fiscal 2017. The 2017 performance goals were established under the Company’s 2000 Amended and Restated Incentive Bonus
Plan. The fiscal 2017 performance goal for Mr. Horton, Mr. Auld and Mr. Murray relates to achieving positive consolidated pre-tax income as set forth below. 

Annual Incentive Bonus – Performance Related to Pre-Tax Income: 

Mr. Horton. Under the fiscal 2017 incentive bonus program, Mr. Horton has the opportunity to earn the following
performance-based bonus: 
  

	 	(1)	Up to 0.6% of Pre-Tax Income of the Company for the six-month period ending March 31, 2017 (but not below $0), and 

  

	 	(2)	Up to 0.6% of Pre-Tax Income of the Company for the six-month period ending September 30, 2017 (but not below $0). 

 Mr. Auld. Under the fiscal 2017 incentive bonus program, Mr. Auld has the
opportunity to earn the following performance-based bonus: 
  

	 	(1)	Up to 0.35% of Pre-Tax Income of the Company for the six-month period ending March 31, 2017 (but not below $0), and 

  

	 	(2)	Up to 0.35% of Pre-Tax Income of the Company for the six-month period ending September 30, 2017 (but not below $0). 

Mr. Murray. Under the fiscal 2017 incentive bonus program, Mr. Murray has the opportunity to earn the following
performance-based bonus: 
  

	 	(1)	Up to 0.1% of Pre-Tax Income of the Company for the six-month period ending March 31, 2017 (but not below $0), and 

  

	 	(2)	Up to 0.1% of Pre-Tax Income of the Company for the six-month period ending September 30, 2017 (but not below $0). 

“Pre-Tax Income” shall mean income before income taxes, as publicly reported by the Company in its quarterly or annual
financial statements, as applicable, prepared in accordance with generally accepted accounting principles. The financial statements shall mean the consolidated financial statements of the Company. 

At the end of fiscal 2017, the Committee may use its sole discretion to adjust downward, in part or in whole, the Annual Incentive Bonus based
on performance of the Company, including the annual amount of Pre-Tax Income earned and performance of the participant. Provided that, for the fiscal year ending September 30, 2017 no more than 0.6% of Pre-Tax Income for the year shall be paid
to Mr. Horton, no more than 0.35% of Pre-Tax Income for the year shall be paid to Mr. Auld and no more than 0.1% of Pre-Tax Income for the year shall be paid to Mr. Murray. 

Other Long-Term Benefits. 

Mr. Horton, Mr. Auld and Mr. Murray may participate in two separate deferred compensation plans. The first plan allows the
executive to make voluntary income deferrals. The second plan is a promise by the Company to pay benefits to the executive. If the executive is employed by the Company on the last day of the current fiscal year (for example September 30, 2017),
then the Company will establish a liability to him equal to 10% of his annual base salary as of the first day of the current fiscal year (for example October 1, 2016). This liability will accrue earnings in future years at a rate established by
the administrative committee.

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