Document:

Exhibit 10.18 

 

FORM OF LOCK-UP AGREEMENT

 

[●], 2021

 

HighCape Capital Acquisition Corp.

452 Fifth Avenue, 21st Floor

New York, New York 10018

 

Quantum-Si Incorporated

530 Old Whitfield Street

Guilford, Connecticut 06437

 

RE:      Lock-up Agreement (this “Agreement”)

 

Ladies and Gentlemen:

 

Reference is made to that
certain Business Combination Agreement (the “Business Combination Agreement”), dated as of February 18, 2021, by and
among HighCape Capital Acquisition Corp., a Delaware corporation (the “Company”), Tenet Merger Sub, Inc., a Delaware
corporation (“Merger Sub”) and a wholly owned subsidiary of the Company, and Quantum-Si Incorporated, a Delaware corporation
(“Quantum-Si”), pursuant to which holders of Quantum-Si capital stock will receive shares of Class A common stock,
$0.0001 par value per share (“Common Stock”), and/or shares of Class B common stock, $0.0001 par value per share
(“Class B Common Stock”), of the Company, upon and subject to the closing (the “Closing”) of
the transactions contemplated thereby (the “Business Combination”). Capitalized terms used herein and not otherwise
defined shall have the meanings set forth in the Business Combination Agreement.

 

In connection with the Business
Combination, and for other good and valuable consideration receipt of which is hereby acknowledged, the undersigned hereby agrees that,
without the prior written consent of Quantum-Si and the Company, the undersigned will not, for the period beginning on the date of this
Agreement and ending on the earlier of:

 

		(A)	180 days after the Closing; and

 

		(B)	subsequent to the Closing, (x) if the last reported sale price of the Common Stock equals or exceeds $12.00
per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like) for any 20 trading days within
any 30 consecutive trading days commencing after the Closing or (y) the date on which the Company completes a liquidation, merger, stock
exchange, reorganization or other similar transaction that results in all of the Company’s public stockholders having the right
to exchange their shares of Common Stock for cash, securities or other property

 

(the “Lock-up Period”), (1)
offer, sell, contract to sell, pledge, grant any option to purchase, make any short sale or otherwise dispose of or distribute any shares
of Common Stock or Class B Common Stock or any securities convertible into, exercisable for, exchangeable for or that represent the right
to receive shares of Common Stock or Class B Common Stock, whether now owned or hereinafter acquired, (including, without limitation,
shares of Quantum-Si capital stock) that are owned directly by the undersigned (including securities held as a custodian) or with respect
to which the undersigned has beneficial ownership within the rules and regulations of the Securities and Exchange Commission (such securities,
the “Restricted Securities”), or (2) engage in any hedging or other transaction with respect to Restricted Securities
which is designed to or which reasonably could be expected to lead to or result in a sale or disposition of the Restricted Securities
even if such Restricted Securities would be disposed of by someone other than the undersigned. Such prohibited hedging or other transactions
include any short sale or any purchase, sale or grant of any right (including any put or call option) with respect to any of the Restricted
Securities of the undersigned, or with respect to any security that includes, relates to, or derives any significant part of its value
from such Restricted Securities.

 

     

     

    

 

The foregoing shall not apply
to:

 

(A)              
transfers of shares of Common Stock as a bona fide gift or gifts or to a trust, foundation or family partnership the beneficiaries
of which are exclusively the undersigned, its members or equity holders or members of their respective immediate family, or by will or
intestate succession upon the death of the undersigned;

 

(B)              
if the undersigned is a corporation, partnership, limited liability company or other business entity, distributions of shares of
Common Stock to members, partners, managers or stockholders of the undersigned;

 

(C)              
if the undersigned is a corporation, partnership, limited liability company or other business entity, any transfer made by the
undersigned to another corporation, partnership, limited liability company or other business entity so long as the transferee controls,
is controlled by or is under common control with the undersigned and such transfer is not for value;

 

(D)              
transactions relating to Common Stock or other securities convertible into or exercisable or exchangeable for Common Stock acquired
by the undersigned in open market transactions after completion of the Business Combination;

 

(E)               
any transfers made by the undersigned by operation of law, such as pursuant to a qualified domestic order or in connection with
a divorce settlement; and

 

(F)               
any transfers to a charitable foundation controlled by the undersigned, its members or stockholders or any of their respective
immediate family;

 

provided, that, in the case of any transfer
or distribution pursuant to clause (A), (B), (C), (E) or (F), each donee, distributee or transferee, as applicable, shall execute and
deliver to the Company and Quantum-Si a lock-up letter in the form of this Agreement; and provided, further, that in the
case of any transfer or distribution pursuant to clause (A), (B), (C), (D), or (F) no filing by any party (donor, donee, transferor or
transferee) under the Securities Exchange Act of 1934, as amended, or other public announcement reporting a reduction in beneficial ownership
shall be required or shall be made voluntarily in connection with such transfer or distribution (other than a filing on a Form 5, Schedule
13G (or Schedule 13G/A) or Schedule 13F made after the expiration of the Lock-up Period referred to above). For purposes of this Agreement,
 “immediate family” means any relationship by blood, marriage or adoption, not more remote than first cousin.

 

 In furtherance of the
foregoing, the Company and any duly appointed transfer agent for the registration or transfer of the securities described herein are hereby
authorized to decline to make any transfer of securities if such transfer would constitute a violation or breach of this Agreement.

 

The undersigned hereby represents
and warrants that the undersigned has full power and authority to enter into this Agreement. All authority herein conferred or agreed
to be conferred and any obligations of the undersigned shall be binding upon the successors, assigns, heirs or personal representatives
of the undersigned.

 

The undersigned hereby represents
and warrants that it now has and, except as contemplated by this Agreement, will have good and marketable title to its Restricted Securities,
free and clear of all liens, encumbrances, and claims that could impact the ability of the undersigned to comply with the foregoing restrictions.
The undersigned agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent and registrar against
the transfer of any Restricted Securities during the Lock-up Period.

 

Notwithstanding anything to
the contrary contained herein, if the Business Combination Agreement (other than the provisions thereof which survive termination)
shall terminate or be terminated prior to the Closing, the undersigned shall be released from all obligations under this Agreement. The
undersigned understands that the Company and Quantum-Si are proceeding with the Business Combination in reliance upon this Agreement.

 

This Agreement and any claim,
controversy or dispute arising under or related to this Agreement shall be governed by and construed in accordance with the laws of the
State of New York, without regard to the conflict of laws principles thereof.

 

    2

     

    

 

	Very truly yours,	 
	 	 
	If an individual, please sign here:	 
	 	 
	Signature:	 	 
	 	 
	Print Name:	 	 

 

 

	If a corporation, a limited partnership or other legal entity, please sign here:	 
	 	 
	Legal Name:	 	 
	 	 
	 	By:	               	 
	 	Name:	 
	 	Title:	 

 

[Signature Page to Lock-up Agreement]EX-10.1

 Exhibit 10.1 

Thomas E. O’Hern 
 VIA ELECTRONIC DELIVERY 

 

	RE:	 Employment Agreement Renewal 

Dear Tom: 
 I am pleased to confirm with you in writing the terms
by which The Macerich Company (the “Company”) will continue to retain you as our Chief Executive Officer (“CEO”). The details of these terms are outlined below and in Annex A, attached hereto: 

 

			
	Base Salary:	  	Your annual base salary (“Salary”) will be $850,000 per annum.
		
	Term:	  	June 8, 2021 to December 31, 2023.
		
	Annual Bonus Potential:	  	You will continue to be eligible for a target annual incentive bonus opportunity of 200% of your Salary in respect of each calendar year. For each calendar year, the Compensation Committee of the Company will determine if your
annual incentive bonus (your “Annual Bonus”), which is discretionary, will be paid and in what amount, and if awarded in cash or in fully vested units or fully vested shares.
		
	Annual Equity Grant:	  	For each calendar year of the Term, you shall receive an “Annual Equity Grant” in the form of Company Long Term Incentive Plan (LTIP) units, having a target grant date value equal to $6,000,000 per year. Each annual
grant shall be made at the same time (which is expected to occur in the first calendar quarter of the given year), shall be allocated in the same proportion, and shall vest on the same terms, as annual equity grants made to all other executive
officers of the Company, as determined by the Compensation Committee of the Board of Directors. Notwithstanding the foregoing, the remaining terms of this agreement, or anything to the contrary in any applicable equity award agreement provided to
you (both performance-based and service-based LTIP award agreements), including but not limited to the provisions of Section 5 of such equity award agreements, all LTIP grants to you under such agreements shall vest upon your termination by the
Company for no reason or for any reason other than Cause (as defined in Annex A hereto), termination of your employment by you for Good Reason (as defined in Annex A hereto), your death, or Disability (as defined in Annex A hereto), on terms no less
favorable than those contained in your 2018 LTIP Unit Award Agreements.

 Thomas O’Hern 

Employment Agreement Renewal 
 June 8, 2021 

Page 3 
  

			
	Severance:	  	You are eligible for the severance benefits set forth in Annex A. This employment agreement, including Annex A hereto, and the CIC Plan identified in the next paragraph, shall each be deemed to be a “Service
Agreement” for purposes of Section 5 of all your equity award agreements, including the Annual Equity Grants described above. Except as otherwise provided for herein, the vesting and payment of your equity awards upon your termination
of employment shall be governed by Section 5 of the applicable equity award agreement (or any similar provisions in a subsequent grant of equity awards), including but not limited to your 2018 LTIP Unit Award Agreements. If there is a Change of
Control of the Company (as such term is defined in the CIC Plan), you will receive the benefits as provided under the CIC Plan (in lieu of the benefits provided under Annex A) and pursuant to the provisions of your equity award agreements, with the
period of time during which the covenant set forth in Section 5(c) to be in effect through the end of the applicable Performance Period (but in no event less than 12 months).
		
	 Change in Control
 Severance
Plan:
	  	You are an “Eligible Employee” under the Company Change in Control Severance Plan for Senior Executives, dated November 2, 2017 (the “CIC Plan”). In brief, under such plan, your severance benefits as
provided therein are a payment equal to (a) three (3) times annual salary plus (b) an average bonus amount, and three (3) years of sponsored COBRA.
		
	Reporting Relationship:	  	Chairman of the Board, The Macerich Company (currently Steven Hash).
		
	Termination:	  	You may terminate your employment for Good Reason, subject to the Severance provisions above and in Annex A, or for any other reason upon thirty (30) days written notice to the Company.
		
	Office Location:	  	Santa Monica, CA Corporate offices.
		
	Health/Dental Insurance:	  	As a full-time employee, you will continue to be eligible for medical and dental benefits. The Company offers several plans and shares the cost of the monthly premium with you. You may choose which plans satisfy your personal and
family circumstances. In addition, you have the option to purchase vision coverage and may set up a flexible spending account. The Company reserves the right to modify its benefit program at any
time.

 Thomas O’Hern 

Employment Agreement Renewal 
 June 8, 2021 

Page 3 
  

			
	401(k) Plan:	  	You will continue to be eligible for, and enrolled in, the Company 401(k) plan.
		
	Deferred Compensation:	  	You will continue to be eligible for the Company’s Deferred Compensation Plan.
		
	Other Benefits:	  	You will continue to be eligible for the basic life and long-term disability plans the Company currently provides at no cost to you. You continue to have the option to purchase supplemental and dependent life and short-term
disability insurance. During the Term, you shall be entitled to fringe benefits on the same basis as those provided generally at any time thereafter to the other members of the Company’s management.
		
	IRC 409A:	  	Amounts paid under this agreement are intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended, and the Treasury regulations and other authoritative guidance issued thereunder
(“Section 409A”), to the extent such requirements are applicable. This agreement shall be interpreted and administered in accordance with that intent. Consistent with that intent, for benefits that are to be paid
in connection with a termination of employment, “termination of employment” shall be limited to such a termination that constitutes a “separation from service” under Section 409A. In the event that you are subject to the
payout restrictions that apply to a “specified employee” as defined in Section 409A, the payout of any amount in connection with your separation from service during for the first six months following such separation that would violate
Section 409A shall be paid on the first day of the seventh month after your separation from service. Notwithstanding the foregoing, to the extent an exemption from the requirements of Section 409A is available such exemption shall apply
and the additional limitations imposed by Section 409A shall not apply. For purposes of application of Section 409A, to the extent applicable, each payment made under this agreement shall be treated as a separate payment.

 Thomas O’Hern 

Employment Agreement Renewal 
 June 8, 2021 

Page 3 
  

	
	Sincerely,
	
	 /s/ Steven Hash

	Steven Hash
	Chairman of the Board, The Macerich Company
	
	ACCEPTED this 11th day of June, 2021.
	
	 /s/ Thomas O’Hern

	Thomas O’Hern

 Annex A 

Severance Benefit 

	1.	 Upon a termination without Cause or resignation with Good Reason (other than in a circumstance where you are
eligible for severance benefits under the CIC Plan), in each case, that occurs during the Term, subject to Section 2 of this Annex A, you will be entitled to receive the following payments and benefits: 

 

	 	(a)	 Accrued Obligations – (1) Your base salary through your termination date to the extent earned and
not theretofore paid, (2) your accrued vacation pay and/or personal days to the extent earned and payable in connection with the termination of employment pursuant to the Company’s policy, (3) your accrued annual incentive bonus for
the fiscal year immediately preceding the year in which your termination date occurs (if any), to the extent such bonus is determined to otherwise have been earned based on the Company’s achievement of applicable performance targets but not
theretofore paid, and (4) vested rights under any equity, compensation or benefit plan, policy, practice or program of or any other contract or agreement with the Company including, without limitation, any acceleration of vesting of equity
awards as provided in this Agreement or that shall occur upon a “Qualifying Termination” as set forth in the applicable equity award agreement and/or equity incentive plan pursuant to which such awards have been granted. Accrued
Obligations described in clauses (1) and (2) shall be paid in a lump sum in cash within the time required by law but in no event more than 30 days after the date of termination and the Accrued Obligation in clause (3) shall be paid at the
same time annual cash bonuses are paid to actively employed senior executives of the Company in respect of the applicable performance period, but in no event later than 75 days after the end of the fiscal year. Accrued Obligations described in
clause (iv) shall be paid at such time(s) as required under the applicable plan or agreement. In addition and for clarity, and as set forth in this Agreement, all LTIPs granted during the Term of this contract shall, to the extent not
previously vested, immediately vest upon termination and shall be deemed Accrued Obligations. 

  

	 	(b)	 Prorated Bonus – Your Annual Bonus (as such term is defined in the agreement to which this Annex A
is attached) for the year in which your termination occurs, based on actual performance through the end of the applicable performance period and prorated based on the number of days you were employed by the Company or its affiliate during the
applicable performance period. The Prorated Bonus will be paid at the time annual cash bonuses are paid to actively employed senior executives of the Company in respect of the year in which your termination occurs, but in no event later than
March 15 of the following year. 

  

	 	(c)	 Severance Payment – An amount equal to (1) the sum of (x) your Base Salary (as such term
is defined in the CIC Plan) in effect of the date of your termination and (y) your Bonus (as such term is defined in the CIC Plan), multiplied by (2) the quotient of (I) the number of days remaining in the Term as of the date of
termination of your employment, divided by (II) 365 (i.e., (x+y) x (I/II)). In the event that your termination of employment occurs prior to the date on which three annual incentive bonuses have been awarded to you by the Company in your
capacity as CEO, your Bonus shall equal the bonus awarded to you if only one annual incentive bonus has been awarded or the average of the annual incentive bonuses awarded to you in your capacity as CEO. The Severance Payment shall be paid in a cash
lump sum within 60 days after your termination of employment; provided that if the 60-day period begins in one calendar year and ends in a second calendar year, such amounts shall be paid in the second
calendar year by the last day of such 60-day period. 

 Thomas O’Hern 

Employment Agreement Renewal 
 June 8, 2021 

Page 3 
  

	 	(d)	 COBRA Subsidy – A payment equal to (1) the total amount of the COBRA continuation monthly
premium rate that would otherwise be payable by you for such COBRA continuation for you and your eligible dependents as of your termination date, multiplied by (2) 36. The COBRA Subsidy shall be paid in a lump sum within 60 days after your
termination of employment; provided that if the 60-day period begins in one calendar year and ends in a second calendar year, such amounts shall be paid in the second calendar year by the last day of
such 60-day period. 

  

	 	(e)	 Outplacement Services. Outplacement services pursuant to the Company’s outplacement plan for senior
executives at the level and for the periods described in Schedule A to the CIC Plan. 

  

	2.	 The payments and benefits described in Section 1(b), 1(c) and 1(d) are subject to your execution and non-revocation of a release of claims substantially in the form set forth in Schedule B of the CIC Plan.  

  

	3.	 Death and Disability. If your employment is terminated by reason of your death or Disability during the
Term, the Company shall provide your estate or beneficiaries or you, as applicable, with the Accrued Obligations described in Section 1(a) and payment of the Prorated Bonus as provided in Section 1(b). 

 

	4.	 The capitalized terms used in Annex A have the meanings set forth below: 

 

	 	(a)	 “Cause” has the meaning set forth in Section 2(e) of the CIC Plan. 

 

	 	(b)	 “CIC Plan” means The Macerich Company Change in Control Severance Plan for Senior Executives,
dated November 2, 2017. 

  

	 	(c)	 The “Company” means the Macerich Company and its subsidiaries. 

 

	 	(d)	 “Disability” means (1) a “permanent and total disability” within the meaning of
Section 22(e)(3) of the Internal Revenue Code of 1986, as amended (“Code”), or (2) your absence from your duties with the Company on a full-time basis for a period of twelve months as a result of incapacity due to mental or
physical illness which is determined to be total and permanent by a physician selected by the Company or its insurers and acceptable to you or your legal representative (such agreements as to acceptability not to be unreasonably withheld).
“Incapacity” as used herein shall be limited only to a condition that substantially prevents you from performing your duties. 

  

	 	(e)	 “Good Reason” means an action taken by the Company, without your written consent thereto,
resulting in a material negative change in the employment relationship. For these purposes, a “material negative change in the employment relationship” shall include, without limitation, any one or more of the following reasons, to the
extent not remedied by the Company within 30 days after receipt by the Company of written notice from you provided to the Company within 90 days (the “Cure Period”) of your knowledge of the occurrence of an event or circumstance set
forth in clauses (i) through (v) below specifying in reasonable detail such occurrence: 

  

	 	(i)	 the assignment to you of any duties materially inconsistent in any respect with your position (including
status, offices, titles and reporting requirements), authority, duties or responsibilities, or any other material diminution in such position, authority, duties or responsibilities (whether or not occurring solely as a result of the Company’s
ceasing to be a publicly traded entity); 

 Thomas O’Hern 

Employment Agreement Renewal 
 June 8, 2021 

Page 3 
  

	 	(ii)	 a change in your principal office location to a location further away from your home which is more than 30
miles from your current principal office; 

  

	 	(iii)	 any one or more reductions in your annual rate of base salary and/or annual target bonus opportunity that,
individually or in the aggregate, exceed 10% of your annual rate of base salary and target bonus opportunity, in the aggregate; or 

  

	 	(iv)	 any material breach by the Company of this letter. 

For clarity, if at any time the Company fails to propose you, without your consent, to be a member of the Board of Directors, such failure
shall constitute a material diminution in your position, authority, duties or responsibilities for purposes of qualifying as “Good Reason” hereunder, the CIC Plan, and under all of your equity award agreements, including those pursuant to
which equity awards were originally granted to you in 2018 when you assumed the position of CEO, as well as the Annual Equity Grants provided in the agreement to which this Annex A is attached. In the event you become an executive member of the
Board of Directors, if you subsequently cease to be a member of the Board of Directors, without your consent, such change in status shall also constitute a material diminution in your position, authority, duties or responsibilities for purposes of
qualifying as “Good Reason” hereunder, the CIC Plan, and under all of your equity award agreements, including those pursuant to which equity awards were originally granted to you in 2018 when you assumed the position of CEO, as well as the
Annual Equity Grants provided in the agreement to which this Annex A is attached. 
 In the event that the Company fails to remedy the
condition constituting Good Reason during the applicable Cure Period, your “termination of employment” must occur, if at all, within 120 days of the end of the Cure Period. 

 

	5.	 For the avoidance of doubt, your right to receive severance payments and benefits under this Annex A shall
terminate on December 31, 2023 and this Annex A shall have no further force and effect thereafter. 

  

	6.	 The following provisions of the CIC Plan shall also apply to this Annex A as if set forth herein:
Section 6 (Withholding), Section 7 (No Duty to Mitigate), Section 10 (Governing Law and Dispute Resolution), Section 11 (Severability), Section 12 (Disclaimer of Rights), Section 13 (Captions), Section 14 (Number
and Gender), and Section 15 (Section 409A).

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