Document:

EX-10.5

  Exhibit 10.5

  AMENDMENT #1 TO 

  CONSULTING AGREEMENT BETWEEN

  KARYOPHARM THERAPEUTICS INC. 

  AND JATIN SHAH, M.D.

   

  THIS AMENDMENT #1 (“Amendment”) amends the Consulting Agreement between Karyopharm Therapeutics Inc. (“Karyopharm”) and Jatin Shah, M.D. (“Consultant”) with an Effective Date of the 1st day of March 2022, (the “Agreement”).  This Amendment shall be effective as of March 21, 2022 (the “Amendment 1 Effective Date”).

  	WHEREAS, the Consultant and the Company agree to amend the description of services provided by the Consultant; and

  WHEREAS, the Parties wish to amend the hours of services to be provided by Consultant.  

  	NOW THEREFORE, for good and valuable consideration, the sufficiency of which is hereby acknowledged, the Parties hereby agree as follows: 

  1.Amendments. 

   

  Exhibits. Exhibit A is hereby deleted in its entirety, and replaced with A-1, attached hereto, which shall be effective as of the Amendment 1 Effective Date. 

   

  2.Miscellaneous. Except as specifically amended by this Amendment, the terms and conditions of the Agreement shall remain in full force and effect. Capitalized terms in this Amendment have the same meaning as set forth in the Agreement.  This Amendment may be executed in any number of counterparts and electronically, each of which will be deemed to be an original and all of which together will constitute one and the same instrument.

   

  IN WITNESS WHEREOF, this Amendment is effective as of the Amendment #1 Effective Date.

   

  KARYOPHARM THERAPEUTICS INC. 	JATIN SHAH, M.D.

   

  /s/ Steven Rotman_____________________		/s/ Jatin Sha___________________

  By:    Steven Rotman			By:  

  Title:  Chief People & Corporate Engagement Officer	Title: 

   

  1

   

  

  Exhibit A-1

   

   

  DESCRIPTION OF SERVICES 

   

  The Consultant shall provide assistance to the Company, as from time to time reasonably requested by the Chief Executive Officer or his designees limited to institutional knowledge relating to myeloma specific matters for internal purposes only.

   

  The Consultant shall devote up to 15 hours per month to providing Services.

   

  2EX-10.8

  				 

   

  Exhibit 10.8

  October 1, 2020

  Ran Frankel

  Dear Ran:

  You and Karyopharm Therapeutics Inc. (the “Company”) are parties to a letter agreement dated June 7, 2015, as amended on October 4, 2016, related to your employment as the Chief Development Operations Officer of the Company (the “Letter Agreement”). This letter is to inform you that, effective August 28, 2020 the Compensation Committee of the Board of Directors of the Company approved certain enhanced severance benefits for you, as described below, in addition to the benefits you may be entitled to under the Letter Agreement.  Except as specifically set forth below, the Letter Agreement remains in full force and effect, and no provisions thereof are amended except as set forth below.  Capitalized terms used but not defined herein shall have the meaning set forth in the Letter Agreement.  

  The first paragraph of the “Severance Compensation” section of the Letter Agreement shall be replaced with the following:

   

  Severance Compensation. If the Company (which, for the purposes of this paragraph, includes any successor entity) terminates the term of your employment without Cause, or you resign for Good Reason, then provided that you execute a release of any and all claims that you may have against the Company arising from your employment with the Company, reasonably satisfactory to the Company in form and substance, which release becomes effective within 60 days following your termination, the Company (i) will continue to pay you your base compensation at its then-current rate, in accordance with the Company’s then-current regular payroll procedures for employees, for twelve (12) months (subject to upward adjustment in the event that standardized severance terms are authorized for all employees of your level and such terms exceed the severance amount provided herein) beginning in the first payroll period following the effectiveness of the release; and (ii) provided you elect to continue your and your eligible dependents’ participation in the Company’s medical and dental benefit plans pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1986 (“COBRA”), will pay the monthly premium to continue such coverage for the lesser of the twelve (12) full calendar months immediately following the month in which the termination of your employment occurs and the end of the calendar month in which you become eligible to receive group health plan coverage under another employee benefit plan. Notwithstanding the foregoing, if your employment is terminated without Cause, or you resign for Good Reason, in either case within one year following the consummation of a Change in Control (as defined below), then,  provided that you execute a release of any and all claims that you may 

  Karyopharm Therapeutics Inc.

  85 Wells Avenue

  Newton, MA 02459

  www.karyopharm.com

  

  			 

   

  have against the Company arising from your employment with the Company, reasonably satisfactory to the Company in form and substance, which release becomes effective within 60 days following your termination, the Company (or its successor entity) will (i) continue to pay you your base compensation at its then-current rate, in accordance with the Company’s (or successor’s) then-current regular payroll procedures for employees, for at least twelve (12) months beginning in the first payroll period following the effectiveness of the release; (ii) pay to you an amount equal to 100% of your target annual bonus for the year in which your termination occurs, which amount shall be payable in a lump sum on the date that the first continued salary payment is made to you under this agreement and (iii) provided you elect to continue your and your eligible dependents’ participation in the Company’s medical and dental benefit plans pursuant to COBRA, pay the monthly premium to continue such coverage for the lesser of the twelve (12) full calendar months immediately following the month in which the termination of your employment occurs and the end of the calendar month in which you become eligible to receive group health plan coverage under another employee benefit plan. 

   

  For the avoidance of doubt, that nothing herein supersedes the Non­ Disclosure, Inventions Assignment, Non-Competition, and Non-Solicitation Agreement you previously executed with the Company, which remains in effect, unaltered, in all respects.

  Thank you for your continued commitment to Karyopharm!

  Sincerely,

  /s/ Michael Kauffman

  Michael Kauffman, M.D., Ph.D.Exhibit 10.1

 

THIS CONVERTIBLE PROMISSORY NOTE (THIS “NOTE”)
AND THE SECURITIES INTO WHICH IT MAY BE CONVERTED HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
ACT”), OR UNDER THE SECURITIES LAWS OF ANY STATE. THESE SECURITIES ARE SUBJECT TO RESTRICTIONS ON TRANSFERABILITY AND RESALE. THIS
NOTE HAS BEEN ACQUIRED FOR INVESTMENT ONLY AND MAY NOT BE SOLD, TRANSFERRED OR ASSIGNED EXCEPT AS PERMITTED UNDER THE SECURITIES ACT AND
THE APPLICABLE STATE SECURITIES LAWS, PURSUANT TO REGISTRATION OR EXEMPTION THEREFROM. INVESTORS SHOULD BE AWARE THAT THEY MAY BE REQUIRED
TO BEAR THE FINANCIAL RISKS OF THIS INVESTMENT FOR AN INDEFINITE PERIOD OF TIME. THE MAKER AND THE SECURITIES INTO WHICH IT MAY BE CONVERTED
MAY REQUIRE AN OPINION OF COUNSEL REASONABLY SATISFACTORY IN FORM, SCOPE AND SUBSTANCE TO THE MAKER TO THE EFFECT THAT ANY SALE OR OTHER
DISPOSITION IS IN COMPLIANCE WITH THE SECURITIES ACT AND ANY APPLICABLE STATE SECURITIES LAWS.

 

FAST ACQUISITION CORP. II

CONVERTIBLE PROMISSORY NOTE 

 

	Principal Amount: $600,000	Dated as of May 4, 2022

 

FOR VALUE RECEIVED and subject
to the terms and conditions set forth herein, FAST Acquisition Corp. II, a Delaware corporation (the “Maker”),
promises to pay to the order of FAST Sponsor II LLC, a Delaware limited liability company, or its registered assigns or successors in
interest (the “Payee”), or order, the principal sum of Six Hundred Thousand Dollars ($600,000), in lawful money
of the United States of America, on the terms and conditions described below. All payments on this Note shall be made by check or wire
transfer of immediately available funds or as otherwise determined by the Maker to such account as the Payee may from time to time designate
by written notice in accordance with the provisions of this Note.

 

1.      
Definitions. The following definitions shall apply for all purposes of this Note:

 

“Business Combination”
means an intended initial merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination,
involving the Maker and one or more businesses.

 

“Claim”
has the meaning set forth in Section 15 hereof.

 

“Conversion Price”
has the meaning set forth in Section 7 hereof.

 

“Event of Default”
has the meaning set forth in Section 6 hereof.

 

“IPO”
has the meaning set forth in Section 7 hereof.

 

“Maker”
has the meaning set forth in the recitals hereof.

 

“Maturity Date”
means the effective date of a Business Combination.

 

“Note”
means this Convertible Promissory Note.

 

“Payee”
has the meaning set forth in the recitals hereof.

 

“Private Placement
Warrants” has the meaning set forth in Section 7 hereof.

 

“Warrants”
has the meaning set forth in Section 7 hereof.

 

    1

     

    

 

2.      
Principal. If this Note has not been previously converted (as provided in Section 7 below), then on the Maturity Date,
the entire unpaid principal balance of this Note shall be due and payable in full, unless accelerated upon the occurrence of an Event
of Default (as defined below).

 

3.      
Interest. No interest shall accrue on the unpaid principal balance of this Note.

 

4.      
Prepayment. The Maker may not prepay any outstanding principal balance of this Note in whole or in part at any time without
the advance written consent of the Payee, which may be withheld by the Payee for any reason or no reason.

 

5.      
Application of Payments. All payments shall be applied first to payment in full of any costs incurred in the collection of
any sum due under this Note, including (without limitation) reasonable attorney’s fees, then to the payment in full of any late
charges and finally to the reduction of the unpaid principal balance of this Note.

 

6.      
Events of Default. The occurrence of any of the following shall constitute an event of default
(“Event of Default”):

 

(a)    
Failure to Make Required Payments. Failure by the Maker to (i) issue Warrants pursuant to Section 7 hereof, if
so elected by the Payee, or (ii) pay the principal balance due pursuant to this Note on the Maturity Date;

 

(b)   
Voluntary Bankruptcy, Etc. The commencement by the Maker of a voluntary case under any applicable bankruptcy, insolvency,
reorganization, rehabilitation or other similar law, or the consent by it to the appointment of or taking possession by a receiver, liquidator,
assignee, trustee, custodian, sequestrator (or other similar official) of the Maker or for any substantial part of its property, or the
making by it of any assignment for the benefit of creditors, or the failure of the Maker generally to pay its debts as such debts become
due, or the taking of corporate action by the Maker in furtherance of any of the foregoing; or

 

(c)    
Involuntary Bankruptcy, Etc. The entry of a decree or order for relief by a court having jurisdiction in the premises in
respect of the Maker in an involuntary case under any applicable bankruptcy, insolvency or other similar law, or appointing a receiver,
liquidator, assignee, custodian, trustee, sequestrator (or similar official) of the Maker or for any substantial part of its property,
or ordering the winding-up or liquidation of its affairs, and the continuance of any such decree or order unstayed and in effect for a
period of sixty (60) consecutive days.

 

7.      
Conversion.

 

(a)    
Optional Conversion. At the option of the Payee, at any time on or prior to the Maturity Date, any amounts outstanding under
this Note (or any portion thereof), may be converted into warrants to purchase shares of Class A common stock of the Maker at a conversion
price (the “Conversion Price”), equal to $1.50 per warrant (“Warrants”). If the Payee
elects such conversion, the terms of such Warrants issued in connection with such conversion shall be identical to the warrants issued
to the Payee in the private placement that closed on March 18, 2021 (the “Private Placement Warrants”)
in connection with the Maker’s initial public offering that closed on March 18, 2021 (the “IPO”),
including that each Warrant shall entitle the holder thereof to purchase one share of Class A common stock at a price of $11.50 per
share, subject to the same adjustments applicable to the Private Placement Warrants. Before this Note may be converted under this Section 7(a),
the Payee shall surrender this Note, duly endorsed, at the office of the Maker and shall state therein the amount of the unpaid principal
balance of this Note to be converted and the name or names in which the certificates for Warrants are to be issued (or the book-entries
to be made to reflect ownership of such Warrants with the Maker’s transfer agent). The conversion shall be deemed to have been made
immediately prior to the close of business on the date of the surrender of this Note and the person or persons entitled to receive the
Warrants upon such conversion shall be treated for all purposes as the record holder or holders of such Warrants as of such date. Each
such newly issued Warrant shall include a restricted legend that contemplates the same restrictions as the Private Placement Warrants.
The Warrants and shares of Class A common stock issuable upon exercise of the Warrants shall constitute “Registrable Securities”
pursuant to that certain Registration Rights Agreement, dated March 15, 2021, among the Maker, Payee and certain other security holders
named therein.

 

(b)   
Remaining Principal. All accrued and unpaid principal balance of this Note that is not then converted into Warrants shall
continue to remain outstanding and to be subject to the terms and conditions of this Note.

 

    2

     

    

 

(c)    
Fractional Warrants; Effect of Conversion. No fractional Warrants shall be issued upon conversion of this Note. In lieu
of any fractional Warrants to the Payee upon conversion of this Note, the Maker shall pay to the Payee an amount equal to the product
obtained by multiplying the Conversion Price by the fraction of a Warrant not issued pursuant to the previous sentence. Upon conversion
of this Note in full and the payment of any amounts specified in this Section 7(c), this Note shall be cancelled and void without
further action of the Maker or the Payee, and the Maker shall be forever released from all its obligations and liabilities under this
Note.

 

8.      
Termination of Rights. All rights with respect to this Note shall terminate upon repayment or
effective conversion of the unpaid principal balance of this Note as provided in Section 7 above.

 

9.      
Remedies.

 

(a)    
Upon the occurrence of an Event of Default specified in Section 6(a) hereof, the Payee may, by written notice to the Maker,
declare this Note to be due immediately and payable, whereupon the unpaid principal balance of this Note, and all other amounts payable
thereunder, shall become immediately due and payable without presentment, demand, protest or other notice of any kind, all of which are
hereby expressly waived, anything contained herein or in the documents evidencing the same to the contrary notwithstanding.

 

(b)   
Upon the occurrence of an Event of Default specified in Section 6(b) or Section 6(c), the unpaid principal balance of
this Note, and all other sums payable with regard to this Note, shall automatically and immediately become due and payable, in all cases
without any action on the part of the Payee.

 

10.   
Waivers. The Maker and all endorsers and guarantors of, and sureties for, this Note waive presentment
for payment, demand, notice of dishonor, protest, and notice of protest with regard to the Note, all errors, defects and imperfections
in any proceedings instituted by the Payee under the terms of this Note, and all benefits that might accrue to the Maker by virtue of
any present or future laws exempting any property, real or personal, or any part of the proceeds arising from any sale of any such property,
from attachment, levy or sale under execution, or providing for any stay of execution, exemption from civil process, or extension of time
for payment; and the Maker agrees that any real estate that may be levied upon pursuant to a judgment obtained by virtue hereof, on any
writ of execution issued hereon, may be sold upon any such writ in whole or in part in any order desired by the Payee.

 

11.   
Unconditional Liability. The Maker hereby waives all notices in connection with the delivery,
acceptance, performance, default, or enforcement of the payment of this Note, and agrees that its liability shall be unconditional, without
regard to the liability of any other party, and shall not be affected in any manner by any indulgence, extension of time, renewal, waiver
or modification granted or consented to by the Payee, and consents to any and all extensions of time, renewals, waivers, or modifications
that may be granted by the Payee with respect to the payment or other provisions of this Note, and agrees that additional makers, endorsers,
guarantors, or sureties may become parties hereto without notice to the Maker or affecting the Maker’s liability hereunder.

 

12.   
Notices. All notices, statements or other documents which are required or contemplated by this
Note shall be in writing and delivered: (i) personally or sent by first class registered or certified mail, overnight courier service
or facsimile or electronic transmission to the address designated in writing, (ii) by facsimile to the number most recently provided
to such party or such other address or fax number as may be designated in writing by such party, and (iii) by electronic mail, to
the electronic mail address most recently provided to such party or such other electronic mail address as may be designated in writing
by such party. Any notice or other communication so transmitted shall be deemed to have been given on the day of delivery, if delivered
personally, on the business day following receipt of written confirmation, if sent by facsimile or electronic transmission, one (1) business
day after delivery to an overnight courier service or five (5) days after mailing if sent by mail.

 

13.   
Construction. THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF NEW
YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WITHIN THE STATE OF NEW YORK.

 

    3

     

    

 

14.   
Severability. Any provision contained in this Note that is prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating
the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction.

 

15.   
Trust Waiver. Notwithstanding anything herein to the contrary, the Payee hereby waives any and
all right, title, interest or claim of any kind (“Claim”) in or to any distribution of or from the trust account
established in which the proceeds of the IPO conducted by the Maker (including the deferred underwriters discounts and commissions) and
certain proceeds of the sale of the Private Placement Warrants were deposited, as described in greater detail in the registration statement
and prospectus filed with the U.S. Securities and Exchange Commission in connection with the IPO on March 18, 2021, and hereby
agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the trust account for any reason whatsoever.

 

16.   
Amendment; Waiver. Any amendment hereto or waiver of any provision hereof may be made with, and
only with, the written consent of the Maker and the Payee.

 

17.   
Successors and Assigns. Subject to the restrictions on transfer in Section 18 and Section 19
below, the rights and obligations of the Maker and the Payee hereunder shall be binding upon and benefit the successors, assigns, heirs,
administrators and transferees of any party hereto (by operation of law or otherwise) with the prior written consent of the other party
hereto and any attempted assignment without the required consent shall be void.

 

18.   
Transfer of this Note or Securities Issuable on Conversion. Prior to an Event of Default, neither
this Note nor any rights hereunder may be assigned, conveyed or transferred, in whole or in part, without the Maker’s prior written
consent, which the Maker may withhold in its sole discretion; provided, that (i) the Payee may make an assignment or transfer
of this Note to any of its affiliates, in which case the requirements in this clause (i) shall not apply, a written opinion reasonably
satisfactory to the Maker in form and substance from counsel reasonably satisfactory to the Maker to the effect that such sale or other
distribution may be effected without registration or qualification under any U.S. federal or state law then in effect, and (ii) a
written undertaking executed by the desired transferee reasonably satisfactory to the Maker in form and substance agreeing to be bound
by the restrictions on transfer contained herein. Upon receiving such written notice, reasonably satisfactory opinion, or other evidence,
and such written acknowledgement, the Maker, as promptly as practicable, shall notify the Payee that the Payee may sell or otherwise dispose
of this Note or such securities, all in accordance with the terms of the note delivered to the Maker. If a determination has been made
pursuant to this Section 18 that the opinion of counsel for the Payee, or other evidence, or the written acknowledgment from the
desired transferee, is not reasonably satisfactory to the Maker, the Maker shall so notify the Payee promptly after such determination
has been made. Each Note thus transferred shall bear a legend as to the applicable restrictions on transferability in order to ensure
compliance with the Securities Act, unless in the opinion of counsel for the Maker such legend is not required in order to ensure compliance
with the Securities Act. The Maker may issue stop transfer instructions to its transfer agent in connection with such restrictions. Subject
to the foregoing, transfers of this Note shall be registered upon registration on the books maintained for such purpose by or on behalf
of the Maker. Prior to presentation of this Note for registration of transfer, the Maker shall treat the registered holder hereof as the
owner and holder of this Note for the purpose of receiving all payments of principal hereon and for all other purposes whatsoever, whether
or not this Note shall be overdue and the Maker shall not be affected by notice to the contrary.

 

19.   
Acknowledgment. The Payee is acquiring this Note for investment for its own account, not as a
nominee or agent, and not with a view to, or for resale in connection with, any distribution thereof. The Payee understands that the acquisition
of this Note involves substantial risk. The Payee has experience as an investor in securities of companies and acknowledges that it is
able to fend for itself, can bear the economic risk of its investment in this Note, and has such knowledge and experience in financial
and business matters that it is capable of evaluating the merits and risks of this investment in this Note and protecting its own interests
in connection with this investment.

[Signature page follows.]

 

    4

     

    

 

IN WITNESS WHEREOF,
the Maker, intending to be legally bound hereby, has caused this Note to be duly executed by the undersigned as of the day and year first
above written.

 

	 	FAST ACQUISITION CORP. II
	 	 	 	 
	 	By:	/s/ Sandy Beall
	 	 	Name:	Sandy Beall
	 	 	Title:	Chief Executive Officer

 

    [Signature Page to Convertible Promissory Note]

     

    

 

Acknowledged and agreed as of the date first above written.

 

FAST SPONSOR II LLC

 

 By: FAST Sponsor II Manager LLC, its sole member

 

	By:	/s/ Garrett Schreiber
	 	Name:	Garrett Schreiber
	 	Title:	Member

 

    [Signature Page to Convertible Promissory Note]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00344-of-00352.parquet"}]]