Document:

Exhibit 10.13

 

January 24, 2020

 

Athena Countouriotis, M.D.

Via Email

 

Re:                             Board Membership with Passage Bio, Inc.

 

Dear Ms. Countouriotis:

 

Passage Bio, Inc. (the “Company”) is pleased to offer you a position as a member of the Company’s Board of Directors (the “Board”).  You will serve as a member of the Board, beginning on the later of (i) the date the Board approves your appointment and (ii) the effectiveness of the Company’s registration statement on Form S-1 related to the Company’s initial public offering and continuing until the earlier of your resignation or removal.

 

As a member of the Board, you will be responsible for attending any scheduled Board meetings in person or by telephone. In addition, we would like to have the benefit of your experience and insight regarding various Company related matters, and from time to time, members of the Company’s senior management may contact you informally to provide advice relating to the Company.  You agree to use reasonable efforts to consult with management if and when reasonably requested.  We also anticipate that you will be requested to serve of one or more of the Board’s committees, to be discussed and agreed upon at a later time.

 

In consideration of your services, you will receive cash and equity compensation in accordance with the Company’s non-employee director compensation policy, as in effect upon the Company’s initial public offering.

 

You agree that this letter does not create any employer/employee relationship with the Company.  You will be entitled to participate in any of the Company’s employee benefit plans, to the extent permitted by such plans.

 

As a member of the Board you will of course have a fiduciary obligation to the Company and all of the Company’s stockholders.  In addition, and in furtherance thereof, the Company asks that you agree to the terms of the Company’s standard confidentiality agreement, in the form attached to this letter as Attachment 1.

 

This Agreement shall be governed by and construed under the laws of the State of Delaware without regard to principles of conflicts of laws. The foregoing constitutes the complete agreement between us with respect to the subject matter hereof and supersedes in all respects all prior or contemporaneous discussions and agreements between us.

 

I am excited about you serving as a member of the Board and look forward to working with you to help make the Company a truly great and prosperous company. Please acknowledge your receipt of, and agreement with the terms of, this Agreement by signing and dating where indicated below and returning a copy of this Agreement to me.

 

[Signature Page Follows]

 

 

	
 
    	
 
    	
Very truly yours,
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
PASSAGE BIO, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/ Tadataka Yamada
    
	
 
    	
 
    	
Name:
    	
Tadataka Yamada
    
	
 
    	
 
    	
Title:
    	
Chairman of the Board   of Directors
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
ACCEPTED AND AGREED TO:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
/s/ Athena   Countouriotis
    	
 
    	
 
    
	
Athena Countouriotis,   M.D.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
1/24/2020
    	
 
    	
 
    
	
Date
    	
 
    	
 
    

 

[SIGNATURE PAGE TO PASSAGE BIO, INC. BOARD OFFER LETTER]

 

 

 

Attachment 1

 

Non-Disclosure Agreement

 

 

NON-DISCLOSURE AGREEMENT

 

This Non-Disclosure Agreement (this “Agreement”) is entered into and made effective as of January 24, 2020, between Passage Bio, Inc., a Delaware corporation, whose address is 2001 Market Street, Suite 2850, Philadelphia, PA 19103 (“Company”), and Athena Countouriotis, M.D. (“Recipient”).

 

Company desires to appoint Recipient to serve as a member of the Board of Directors of the Company (the “Purpose”).  In connection with such appointment, it may be necessary for Company to disclose to Recipient certain confidential information or materials.

 

In consideration of the foregoing, the parties agree as follows:

 

1.                                      Confidential Information.  For purposes of this Agreement, “Confidential Information” means any information or materials disclosed by Company to Recipient, whether before or after the date of this Agreement, that: (i) if disclosed in writing or in the form of tangible materials, is marked “confidential” or “proprietary” at the time of such disclosure; (ii) if disclosed orally or by visual presentation, is identified as “confidential” or “proprietary” at the time of such disclosure, and is summarized in a writing sent by Company to Recipient within thirty (30) days after any such disclosure; or (iii) due to its nature or the circumstances of its disclosure, a person exercising reasonable business judgment would understand to be confidential or proprietary.

 

2.                                      Obligations and Restrictions.  Recipient agrees: (i) to maintain all Confidential Information in strict confidence; (ii) not to disclose Confidential Information to any third parties; and (iii) not to use any Confidential Information for any purpose except for the Purpose.

 

3.                                      Exceptions.  The obligations and restrictions in Section 2 will not apply to any information or materials that:

 

(i)                                     were, at the date of disclosure, or have subsequently become, generally known or available to the public through no act or failure to act by Recipient;

 

(ii)                                  were rightfully known by Recipient prior to the disclosure of such information or materials from Company;

 

(iii)                               are rightfully acquired by Recipient from a third party who has the right to disclose such information or materials without breach of any confidentiality obligation to Company; or

 

(iv)                              are independently developed by Recipient without access to any Confidential Information.

 

4.                                      Compelled Disclosure.  Nothing in this Agreement will be deemed to restrict Recipient from disclosing Confidential Information to the extent required by any order, subpoena, law, statute or regulation; provided, that Recipient uses all reasonable efforts to give Company reasonable advance notice of such required disclosure in order to enable Company to prevent or limit such disclosure.

 

5.                                      Return of Confidential Information.  Upon the Recipient’s resignation or removal from the Board of Directors of the Company, and in any event upon Company’s request, Recipient will promptly return to Company all tangible items and embodiments containing or consisting of Confidential Information and all copies thereof (including electronic copies), and any notes, analyses, compilations, studies, interpretations, memoranda or other documents (regardless of the form thereof) prepared by or on behalf of Recipient that contain or are based upon Confidential Information.

 

 

6.                                      No Obligations.  Company retains the right, in its sole discretion, to determine whether to disclose any Confidential Information to Recipient.  In no event will Company be required to negotiate or enter into any other agreements or arrangements with Recipient, whether or not related to the Purpose.

 

7.                                      No License.  All Confidential Information remains the sole and exclusive property of Company.  Recipient acknowledges and agrees that nothing in this Agreement will be construed as granting any rights to Recipient, by license or otherwise, in or to any Confidential Information of Company, or any patent, copyright or other intellectual property or proprietary rights of Company, except as specified in this Agreement.

 

8.                                      No Warranty.  ALL CONFIDENTIAL INFORMATION IS PROVIDED BY COMPANY “AS IS”.

 

9.                                      Term.  This Agreement will remain in effect for a period of five (5) years from the date of last disclosure of Confidential Information by Company, at which time it will terminate.

 

10.                               Equitable Relief.  Recipient acknowledges that the unauthorized use or disclosure of any Confidential Information would cause Company to incur irreparable harm and significant damages, the degree of which may be difficult to ascertain.  Accordingly, Recipient agrees that Company will have the right to obtain immediate equitable relief to enjoin any unauthorized use or disclosure of its Confidential Information, in addition to any other rights or remedies that it may have at law or otherwise.

 

11.                               Miscellaneous.  This Agreement will be governed and construed in accordance with the laws of the State of Delaware, excluding its body of law controlling conflict of laws.  This Agreement is the complete and exclusive understanding and agreement between the parties regarding the subject matter of this Agreement and supersedes all prior agreements, understandings and communications, oral or written, between the parties regarding the subject matter of this Agreement.  Recipient may not assign this Agreement, in whole or in part, by operation of law or otherwise, without Company’s prior written consent, and any attempted assignment without such consent will be void.  This Agreement may be executed in counterparts, each of which will be deemed an original, but all of which together will constitute one and the same instrument.

 

[SIGNATURE PAGE FOLLOWS]

 

2

 

IN WITNESS WHEREOF, the parties hereto have executed this Non-Disclosure Agreement by their duly authorized officers or representatives.

 

	
PASSAGE BIO, INC.:
    	
 
    	
INDIVIDUAL:
    
	
 
    	
 
    	
 
    
	
Signature:
    	
 
    	
 
    	
Signature:
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
Name:
    	
Tadataka Yamada
    	
 
    	
Name:
    	
Athena Countouriotis,   M.D.
    
	
 
    	
 
    	
 
    	
 
    	
 
    
	
Title:
    	
 
    	
Chairman of the Board
    	
 
    	
 
    

 

 

[SIGNATURE PAGE TO PASSAGE BIO, INC. NON-DISCLOSURE AGREEMENT]EX-4.29

 Exhibit 4.29 

Execution 

ALCENTRA CAPITAL CORPORATION, 

CRESCENT CAPITAL BDC, INC. 

and 
 U.S. BANK NATIONAL
ASSOCIATION, 
 as Trustee 

Nineteenth Supplemental Indenture 

Dated as of January 31, 2020 

 SUPPLEMENTAL INDENTURE 

RELATED TO THE ASSUMPTION OF THE NOTES 

NINETEENTH SUPPLEMENTAL INDENTURE dated as of January 31, 2020, by and among ALCENTRA CAPITAL CORPORATION, a Maryland
corporation (“Alcentra”), CRESCENT CAPITAL BDC, INC. (f/k/a Crescent Reincorporation Sub, Inc.), a Maryland corporation (“Crescent Capital BDC Maryland”), and U.S. BANK NATIONAL ASSOCIATION, a national banking association, as
Trustee (the “Trustee”). 
 RECITALS 

WHEREAS, Alcentra and the Trustee executed and delivered an Indenture dated as of January 30, 2015 (the “Base
Indenture”), as amended by the First Supplemental Indenture, dated as of January 30, 2015 (the “First Supplemental Indenture”), providing for the issuance of Alcentra’s 6.500% Notes due 2022 (the “First Supplemental
Indenture Notes”), the Seventh Supplemental Indenture, dated as of April 2, 2015 (the “Seventh Supplemental Indenture”), providing for the issuance of Alcentra’s 6.750% Notes due 2022 (the “Seventh Supplemental
Indenture Notes”), the Eighth Supplemental Indenture, dated as of April 15, 2015 (the “Eighth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.250% Notes due 2020 (the “Eighth Supplemental Indenture
Notes”), the Ninth Supplemental Indenture, dated as of April 15, 2015 (the “Ninth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.500% Notes due 2020 (the “Ninth Supplemental Indenture Notes”),
the Tenth Supplemental Indenture, dated as of February 4, 2016 (the “Tenth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.500% Notes due 2021 (the “Tenth Supplemental Indenture Notes”), the
Eleventh Supplemental Indenture, dated as of February 11, 2016 (the “Eleventh Supplemental Indenture”), providing for the issuance of Alcentra’s 6.500% Notes due 2021 (the “Eleventh Supplemental Indenture Notes”), the
Twelfth Supplemental Indenture, dated as of February 19, 2016 (the “Twelfth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.500% Notes due 2021 (the “Twelfth Supplemental Indenture Notes”), the
Thirteenth Supplemental Indenture, dated as of June 9, 2016 (the “Thirteenth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.375% Notes due 2021 (the “Thirteenth Supplemental Indenture Notes”), the
Fourteenth Supplemental Indenture, dated as of June 16, 2016 (the “Fourteenth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.375% Notes due 2021 (the “Fourteenth Supplemental Indenture Notes”), the
Fifteenth Supplemental Indenture, dated as of June 23, 2016 (the “Fifteenth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.375% Notes due 2021 (the “Fifteenth Supplemental Indenture Notes”), the
Sixteenth Supplemental Indenture, dated as of June 30, 2016 (the “Sixteenth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.375% Notes due 2021 (the “Sixteenth Supplemental Indenture Notes”), the
Seventeenth Supplemental Indenture, dated as of July 8, 2016 (the “Seventeenth Supplemental Indenture”), providing for the issuance of Alcentra’s 6.250% Notes due 2021 (the “Seventeenth Supplemental Indenture Notes”),
the Eighteenth Supplemental Indenture, dated as of July 14, 2016 (the “Eighteenth Supplemental Indenture,” and together with the Base Indenture, the First Supplemental Indenture, the Seventh Supplemental Indenture, the Eighth
Supplemental Indenture, the Ninth Supplemental Indenture, the Tenth Supplemental Indenture, the Eleventh Supplemental Indenture, the Twelfth Supplemental Indenture, the Thirteenth Supplemental Indenture, the Fourteenth Supplemental Indenture, the
Fifteenth Supplemental Indenture, the Sixteenth Supplemental Indenture and the Seventeenth Supplemental Indenture, 

 
the “Indenture”), providing for the issuance of Alcentra’s 6.250% Notes due 2021 (the “Eighteenth Supplemental Indenture Notes,” and together with the First Supplemental
Indenture Notes, the Seventh Supplemental Indenture Notes, the Eighth Supplemental Indenture Notes, the Ninth Supplemental Indenture Notes, the Tenth Supplemental Indenture Notes, the Eleventh Supplemental Indenture Notes, the Twelfth Supplemental
Indenture Notes, the Thirteenth Supplemental Indenture Notes, the Fourteenth Supplemental Indenture Notes, the Fifteenth Supplemental Indenture Notes, the Sixteenth Supplemental Indenture Notes and the Seventeenth Supplemental Indenture Notes, the
“Notes”). 
 WHEREAS, Section 901(1) of the Indenture provides that, without the consent of any Holders of
the Notes, Alcentra, when authorized by or pursuant to a Board Resolution, and the Trustee may enter into one or more supplemental indentures to evidence the succession of another Person to Alcentra and the assumption by any such successor of the
covenants of Alcentra in the Indenture and in the Notes contained (the “Assumption and Succession”); 
 WHEREAS,
Section 801 of the Indenture provides that Alcentra shall not consolidate with or merge into any other Person or convey, transfer or lease all or substantially all of its properties and assets to any Person unless, among other things, the
Person which acquires by conveyance or transfer, or which leases, all or substantially all of the properties and assets of Alcentra shall expressly assume, by an indenture supplemental thereto, executed and delivered to the Trustee, in form
satisfactory to the Trustee, the due and punctual payment of the principal of, premium, if any, and interest on all the Notes and the performance or observance of every covenant of the Indenture on the part of Alcentra to be performed or observed;

 WHEREAS, Section 802 of the Indenture provides that upon any consolidation of Alcentra with, or merger of Alcentra
into, any other Person or any conveyance, transfer or lease of all or substantially all of the properties and assets of Alcentra in accordance with Section 801, the successor Person formed by such consolidation or into which Alcentra is merged
or to which such conveyance, transfer or lease is made, shall succeed to, and be substituted for, and may exercise every right and power of, Alcentra under the Indenture with the same effect as if such successor Person had been named as the
“Company” therein, and thereafter, Alcentra shall be discharged from all obligations and covenants under the Indenture and the Notes and may be dissolved and liquidated; 

WHEREAS, Crescent Capital BDC, Inc., a Delaware corporation and the direct parent company of Crescent Capital BDC Maryland
(“Parent”), entered into an Agreement and Plan of Merger, dated as of August 12, 2019, by and among Parent, Atlantis Acquisition Sub, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (“Acquisition
Sub”), Alcentra and Crescent Cap Advisors, LLC (the “Original Merger Agreement”), as amended by Amendment No. 1 to the Original Merger Agreement, dated as of September 27, 2019, pursuant to which (i) Parent will merge
with and into Crescent Capital BDC Maryland, resulting in a reincorporation from the state of Delaware to the state of Maryland, (ii) Acquisition Sub will merge with and into Alcentra, with Alcentra surviving such merger, and
(iii) immediately thereafter, Alcentra will merger with and into Crescent Capital BDC Maryland, with Crescent Capital BDC Maryland surviving such merger (collectively, the “Transactions”); 

  
 2 

 WHEREAS, each of Alcentra and Crescent Capital BDC Maryland has duly
authorized the execution and delivery of this Nineteenth Supplemental Indenture to provide for the Assumption and Succession; 

WHEREAS, this Nineteenth Supplemental Indenture is being executed pursuant to and in accordance with Section 901 of the
Indenture; and 
 WHEREAS, all acts and things necessary to make this Nineteenth Supplemental Indenture a valid and binding
agreement of Alcentra and Crescent Capital BDC Maryland in accordance with its terms have been done. 
 NOW, THEREFORE,
WITNESSETH: 
 For and in consideration of the premises and other good and valuable consideration, the sufficiency and
receipt of which are hereby acknowledged, it is mutually agreed, for the equal and proportionate benefit of all Holders of the Notes, as follows: 

ARTICLE ONE 

INCORPORATION OF PREVIOUS DOCUMENTS 

Section 1.01    Incorporation of Previous Documents. 

This Nineteenth Supplemental Indenture is a supplemental indenture within the meaning of the Indenture and shall be read
together therewith, and shall have the same effect as though all the provisions thereof and hereof were contained in one instrument. Unless otherwise expressly provided, the provisions of the Indenture are incorporated herein by reference. 

Section 1.02    Definitions. 

Unless otherwise provided herein, the terms used herein shall have the meanings ascribed to such terms in the Indenture. 

Section 1.03    Governing Law. 

This Nineteenth Supplemental Indenture, the Indenture and the Notes shall be governed by and construed in accordance with the
law of the State of New York without regard to principles of conflicts of laws. 

Section 1.04    Severability. 

In case any provision in this Nineteenth Supplemental Indenture shall be invalid, illegal or unenforceable, the validity,
legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

Section 1.05    Counterparts. 

This Nineteenth Supplemental Indenture may be executed in counterparts, each of which will be an original, but such
counterparts will together constitute but one and the same 

  
 3 

 
instrument. The exchange of copies of this Nineteenth Supplemental Indenture and of signature pages by facsimile, .pdf transmission, email or other electronic means shall constitute effective
execution and delivery of this Nineteenth Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile, .pdf transmission, email or other electronic means shall be deemed to be their original signatures for all
purposes. 
  

	 	Section	 1.06    Notices 

The address of the Company’s principal office specified in the first paragraph of the Indenture shall be deleted and
replaced with the following: 
 Crescent Capital BDC, Inc. 

Attn: General Counsel 
 11100 Santa
Monica Boulevard, Suite 2000 
 Los Angeles, California 90025 

SUCCESSION TO INDENTURE 

Crescent Capital BDC Maryland agrees that upon consummation of the Transactions, it shall assume, and succeed to, and be
substituted for, and may exercise every right and power of, Alcentra under the Indenture with the same effect as if it had been named as the “Company” therein, and that Alcentra shall be discharged from all obligations and covenants under
the Indenture and the Notes. 
 [Signature pages follow] 

  
 4 

 IN WITNESS WHEREOF, the parties hereto have caused this Nineteenth
Supplemental Indenture to be duly executed by their respective officers or agents as of the day and year first above written. 
  

			
	ALCENTRA CAPITAL CORPORATION
		
	 By:
	 	 /s/ Suhail A. Shaikh

	 Name:
	 	 Suhail A. Shaikh

	 Title:
	 	 Chief Executive Officer

  
 [Signature Page to
Nineteenth Supplemental Indenture] 

 
			
	 CRESCENT CAPITAL BDC, INC.

		
	 By:
	 	 /s/ Gerhard Lombard

	 Name:
	 	 Gerhard Lombard

	 Title:
	 	 Chief Financial Officer & Treasurer

  
 [Signature Page to
Nineteenth Supplemental Indenture] 

 
			
	 U.S. BANK NATIONAL ASSOCIATION, as Trustee

		
	 By:
	 	 /s/ David W. Doucette

	 Name:
	 	 David W. Doucette

	 Title:
	 	 Vice President

  
 [Signature Page to
Nineteenth Supplemental Indenture]

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