Document:

ex_357805.htm

Exhibit 4.5

 

Thirteenth Amendment to Consulting Agreement

 

This Thirteenth Amendment ("Amendment") to Consulting Agreement is effective as of January 01, 2022 (the “Effective Date”) and is entered into by and between GKOL, Inc., a California corporation, with an office at 210 Montalvo Road, Redwood City, CA 94062 (“GKOL”), and BeyondSpring Pharmaceuticals, Inc., a Delaware Corporation, with an office at 28 Liberty Street, 39th Floor, New York, New York 10005 USA ("BeyondSpring").

 

WITNESSETH:

 

WHEREAS, GKOL and Dalian Wanchun Pharmaceutical Co., Ltd. ("Dalian") previously entered into that certain consulting agreement dated as of June 18, 2013 (as has been and may be amended from time to time, the "Consulting Agreement");

 

WHEREAS, pursuant to that certain agreement dated as of March 30, 2014, by and between BeyondSpring, GKOL and Dalian, BeyondSpring assumed all of the rights and responsibilities of the Consulting Agreement; and

 

WHEREAS, the parties hereto desire to amend Exhibit A and Exhibit B to the Consulting Agreement as follows.

 

NOW THEREFORE, in consideration of the covenants contained herein the parties hereto, intending to be legally bound hereby, agree as follows:

 

	 	
			1.

				
			Exhibit A.Exhibit A to the Consulting Agreement is hereby amended and restated in its entirely as follows:

			

 

EXHIBIT A

Term:

 

The term of this Amendment becomes effective on the date hereof and will continue in effect to December 31, 2022. Notwithstanding the foregoing, either the Consultant or the Company may terminate this Agreement upon thirty (30) days' notice any time following the date hereof. This Agreement may be extended or modified upon mutual agreement.

 

Description of Services: The Consultant shall serve in an executive function as a Senior Advisor and Chief Scientific Officer. The Consultant shall provide services to the Company 10 workdays per month starting from January 01, 2022, to December 31st 2022. Flexibility can be used to attend different meetings and calls. Totally thirty five percent of full time a month is required. Participance in all management meetings occurring routinely on herein working time is required. As for management meetings which occur outside of the Consultant's contracted hours, the Consultant's attendance will not be required.

 

 

 

 

 

	 	
			2.

				
			Exhibit B.Exhibit B to the Consulting Agreement is hereby amended and restated in its entirely as follow:

			

 

EXHIBIT B

 

Compensation:

 

As compensation for services rendered pursuant to the terms of this Agreement, the Company shall pay $15,000.00 per month for January 01, 2022, to December 31st 2022 Invoice will be paid on a monthly basis.

 

You are also eligible for an annual prorated bonus of up to 30% of your earned base salary during the term of this amendment at the discretion of the CEO of BeyondSpring provided that you reach certain milestones to be determined by BeyondSpring in consultation with you, as well as the Company’s performance towards operating and financial goals. The terms, conditions, and metrics for any annual bonus compensation may be further established in writing by BeyondSpring. Any annual bonus, if earned, will be paid within forty-five (45) days following the end of the calendar year, independent of whether or not the Consultant is acting as the Chief Scientific Officer for the Company.

 

The Consultant will be entitled to the following paid vacation time for the period from January 1, 2022-December 31, 2022, to be accrued and utilized in accordance with the Company's PTO policy:

 

	 	
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			30 hours in 2022

			

 

	 	
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			64 hours carryover from 2021 to 2022, to be utilized prior to June 30, 2022

			

 

The Company will pay up to five hundred USD ($500) per month towards medical insurance premiums for G. Kenneth Lloyd and Kathleen O'Laughlin Lloyd.

 

Upon presentation of receipts, Company shall reimburse Consultant for:

 

	 	
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			All payments made to third parties on behalf of Company;

			

 

	 	
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			All pre-authorized travel expenses at the following rate:

			

 

	 	
			o

				
			Full reimbursement for airfare (economy for trips of less than 5 hours duration; business class or higher for all trips of 5 hours or longer duration) and other travel (including but not limited to taxis and trains)

			

 

	 	
			o

				
			Full reimbursement for hotels, meals and generally acceptable other travel expenses.

			

 

 

 

 

 

	 	
			3.

				
			General.

			

 

	 	
			a)

				
			Except as specifically set forth above, Consulting Amendment shall remain in full force and effect.

			

 

	 	
			b)

				
			This Amendment shall be construed and interpreted in accordance with the laws of the State of California without giving effect to its principles of conflicts of laws. In addition for the avoidance of doubt, the Consulting Agreement (including all prior amendments thereto) shall remain governed by the laws of the State of California without giving effect to its principles of conflicts of laws, in accordance with Section 11(g) of the Consulting Agreement, without regard to any other governing law provisions contained in any prior amendments to the Consulting Agreement, such conflicting governing law provisions of which are hereby acknowledged and agreed to be scrivener's errors.

			

 

	 	
			c)

				
			This Amendment may be executed in one or more counterparts, including emailed or ".pdf' documents, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

			

 

 

[signature page follows]

 

 

 

 

 

 

 

 

 

 

 

 

IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their duly authorized representatives, to be effective as of the Effective Date.

 

	BEYONDSPRING PHARMACEUTICALS, INC.	 	GKOL, Inc.	 
	 	 	 	 
	/s/ Lan Huang	 	/s/ G. Kenneth Lloyd	 
	By: Lan Huang	 	By: G. Kenneth Lloyd	 
	Title: CEO	 	Title: Corporate Secretary and Vice President, GKOL, Inc.
	Date: December 30, 2021	 	Date: December 22, 2021ex_357810.htm

Exhibit 4.7

 

SECOND AMENDMENT TO EMPLOYMENT AGREEMENT

 

This Second Amendment to Employment Agreement (this “Second Amendment”) is entered into on January 11, 2022 (the “Effective Date”) by and between BeyondSpring Pharmaceuticals, Inc. (“Company”) and Dr. Lan Huang (“Employee”) (collectively, the “Parties”).

 

WHEREAS, Employee and the Company entered into an employment agreement on April 1, 2016 (the “Employment Agreement”), in which Employee agreed to serve as an employee of the Company, as amended by an Amendment dated as of November 10, 2016, and

 

WHEREAS, Employee and the Company desire to further amend the Employment Agreement to revise certain terms.

 

NOW, intending to be legally bound, the Parties agree as follows:

 

	 	
			1.

				
			Section 2. Section 2 is hereby amended and restated in its entirely as follows:

			

 

a.    Employee’s employment may be terminated at any time and for any reason by action of the Board and the Parties agree that nothing in this Section shall change the “at-will” employment relationship between the Parties.

 

b.    Should Employee choose to resign voluntarily from the Company at any point in time, Employee agrees to give the Company a minimum of three (3) months’ written notice prior to Employee’s resignation date.

 

c.    If, during the term of this Agreement, the Company terminates Employee’s employment other than for death, disability or Cause, or if Employee terminates employment for Good Reason, then, subject to Section 2(f) below, the Company shall pay to Employee: (i) her base salary, as of the date of termination, for the nine (9) month period commencing on the date of termination (the “Severance Period”), payable over the Severance Period in regular installments in accordance with the Company’s normal payroll practices as they may exist from time to time, with the installments that otherwise would be paid prior to the first payroll date following the date the Release described in Section 2(f) becomes effective and irrevocable in accordance with its terms, being paid (without interest) on such payroll date in a lump sum and the remaining installments being paid as otherwise scheduled assuming payments had begun immediately after the date of termination; and (ii) a pro-rated portion of any bonus earned for the year in which the date of termination occurs, based on actual performance results, and paid at the same time as other senior executives who did not terminate employment.

 

d.“    Cause” shall mean: (i) Employee’s substantial and continued failure (except where due to a disability, illness or periods of vacation or approved leave), neglect, or refusal to perform in any material respect Employee’s duties and responsibilities; (ii) any intentional or grossly negligent act of Employee that has the effect of injuring the business of the Company or its subsidiaries in any material respect; (iii) Employee’s conviction of, or plea of guilty or no contest to (a) a felony, (b) any material violation of federal or state securities laws or (c) any other criminal charge that has, or could be reasonably expected to have, a material adverse impact on the performance of Employee’s duties to the Company or otherwise result in material injury to the business of the Company or its subsidiaries; (iv) the commission by Employee of an act of fraud or embezzlement against the Company or its subsidiaries; (v) any material violation by Employee of the policies of the Company or its subsidiaries, including but not limited to those relating to sexual harassment or business conduct, and those otherwise set forth in the manuals or statements of policy of the Company or its subsidiaries; or (vi) Employee’s material breach of this Agreement.

 

 

 

 

 

e.“    Good Reason” shall mean, without Employee’s consent: (i) a material diminution in Employee’s duties or responsibilities; (ii) a reduction in base salary as initially set forth in Section 3(a) hereof or as subsequently increased by the Company (other than pursuant to an across-the-board reduction applicable to all similarly situated executives); (iii) any requirement by or directive from the Company that Employee permanently relocate her principal residence or change in the primary place of the Company’s business by more than 50 miles from its then current location; (iv) any material breach of a provision of this Agreement by the Company; and (v) a “change of control” (as defined in the Company’s 2017 incentive plan). Employee acknowledges and agrees that Employee’s exclusive remedy in the event of any breach of this Agreement shall be to assert Good Reason pursuant to the terms and conditions of Section 2(e) hereof. A termination of Employee’s employment under Sections 2(e) shall not be deemed to be for Good Reason unless (a) Employee gives notice to the Company of the existence of the event or condition constituting Good Reason within 30 calendar days after becoming aware of the initial occurrence or existence of such event or condition, and (b) the Company fails to cure such event or condition within 30 calendar days after receiving such notice. Additionally, Employee must terminate her employment within 90 calendar days after the initial occurrence of the circumstance constituting Good Reason for such termination to be “Good Reason” hereunder. Notwithstanding the foregoing, during the term of this Agreement, in the event that the Company reasonably believes that Employee may have engaged in conduct that could constitute Cause hereunder, the Company may, in its sole and absolute discretion, suspend Employee from performing Employee’s duties hereunder for a period not to exceed 90 days, and in no event shall any such suspension constitute an event pursuant to which Employee may terminate employment with Good Reason or otherwise constitute a breach hereunder; provided, that no such suspension shall alter the Company’s obligations under this Agreement during such period of suspension.

 

f.    Notwithstanding anything contained herein to the contrary, the Company shall not be obligated to make any payment or provide any benefit under Section 2(e), hereof unless: (i) Employee first executes within 30 calendar days after the date of termination (or such longer period as required by applicable law) a release of claims agreement in a form provided by the Company (the “Release”); (ii) Employee does not revoke the Release; and (iii) the Release becomes effective and irrevocable in accordance with its terms. (the “Release Date”).

 

2.    Continuation of Employment Agreement. Except as otherwise expressly provided herein, all of the terms and provisions of the Employment Agreement shall remain in full force and effect .

 

 

 

 

 

 

 

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3.    Complete Agreement. This Second Amendment contains the entire agreement between the Parties hereto with respect to the matters contained herein and supersedes and replaces any prior agreements between the Parties with respect to the matters set forth here.

 

4.    Counterparts. This Second Amendment may be executed in any number of counterparts and any such counterparts may be transmitted by electronic transmission, and each of such counterparts, whether an original or an electronic or ".pdf" of an original, shall be deemed to be an original and all of such counterparts together shall constitute a single instrument.

 

 

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

 

	/s/ Lan Huang	 
	Dr. Lan Huang	 
	 	 
	/s/ Matthew Kirkby	 
	Matthew Kirkby, Board Member,

			Chair, Compensation Committee	 
	BeyondSpring Pharmaceuticals Inc.	 
	BeyondSpring Inc.	 

 

 

 

 

 

 

 

 

 

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