Document:

EX-4.14

 Exhibit 4.14 
  

 
 CELLECTIS 

AMENDED SECOND FREE SHARE 2018 PLAN 

 
  

Approved by the Board of Directors on August 1, 2018, as amended by the Board of Directors on October 14, 2020, as further amended by
the Board of Directors on March 4, 2021 

  
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 TABLE OF CONTENTS 

 

									
	 1.
	 	IMPLEMENTATION OF THE FREE SHARE PLAN	  	 	3	 
			
	 2.
	 	DEFINITIONS	  	 	3	 
			
	 3.
	 	PURPOSE	  	 	4	 
			
	 4.
	 	BENEFICIARIES	  	 	4	 
			
	 5.
	 	NOTICE OF THE ALLOCATION OF THE SHARES	  	 	5	 
			
	 6.
	 	ACQUISITION PERIOD	  	 	5	 
				
		 	6.1.	  	Principle	  	 	5	 
				
		 	6.2	  	Internal mobility	  	 	6	 
				
		 	6.3	  	Disability	  	 	6	 
				
		 	6.4	  	Decease	  	 	6	 
				
		 	6.5	  	Retirement	  	 	6	 
			
	 7.
	 	HOLDING PERIOD	  	 	6	 
				
		 	7.1	  	Principle	  	 	6	 
				
		 	7.2	  	Specific situations	  	 	7	 
			
	 8.
	 	CHARACTERISTICS OF THE SHARES	  	 	7	 
			
	 9.
	 	DELIVERY AND HOLDING OF THE SHARES	  	 	7	 
			
	 10.
	 	INTERMEDIARY OPERATIONS	  	 	7	 
			
	 11.
	 	ADJUSTMENT	  	 	8	 
			
	 12.
	 	AMENDMENT TO THE PLAN	  	 	8	 
				
		 	12.1	  	Principle	  	 	8	 
				
		 	12.2	  	Notice of the amendments	  	 	8	 
			
	 13.
	 	TAX AND SOCIAL RULES	  	 	8	 
			
	 14.
	 	MISCELLANEOUS	  	 	9	 
				
		 	14.1	  	Rights in relation to the capacity of employee	  	 	9	 
				
		 	14.2	  	Applicable law - Jurisdiction	  	 	9	 
				
		 	14.3	  	Provisions Applicable to Beneficiaries Located outside of France	  	 	9	 

  
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	1.	 IMPLEMENTATION OF THE FREE SHARE
PLAN 

 Pursuant to decisions dated June 26, 2018, the shareholders’ general meeting of Cellectis, a French
société anonyme whose registered office is located at 8 rue de la Croix Jarry, 75013 Paris and whose identification number is 428 859 052 R.C.S. Paris (hereafter referred to as the “Company”) authorized
the Board of Directors to allocate free shares of the Company to the benefit of employees of the Company or to certain categories of such employees, and/or to the benefit of its corporate officers who meet the conditions set forth by Article L. 225-197-1 II of the French commercial code, as well as to the benefit of employees of companies or economic interest groups whose share capital or voting rights
are held, directly or indirectly, for more than ten per cent (10%) by the Company at the date of allocation of said shares. 
 On August 1, 2018, the
Board of Directors, acting pursuant to the authorization of the shareholders’ general meeting dated June 26, 2018, and approved the present free share plan stating the conditions and criteria for the allocation of such shares, as amended
by decision of the Board of Directors on October 14, 2020 (hereafter referred to as the “Amended Second Free Shares 2018 Plan”). On March 4, 2021, the Board of Directors approved, consistent with the
authorization of the shareholders’ general meeting dated June 26, 2018, the allocation of 400,000 ordinary shares to the Amended Second Free Shares 2018 Plan. The Amended Second Free Shares 2018 Plan provides for the allocation of up to a
total of 1,170,000 free shares of the Company to the benefit of eligible employees. 
  

	2.	 DEFINITIONS 

Under the present Amended Second Free Shares 2018 Plan, the following terms and expressions starting with a capital letter shall have the following meaning and
may be used indifferently in the singular or in the plural form: 
  

			
	“Acquisition Date”	  	refers to the date when the free Shares have been definitely acquired by the relevant Beneficiary;
		
	“Acquisition Period”	  	refers to the one (1) year (or such other minimum period stipulated under French law) period starting on the Allocation Date and ending on the Acquisition Date, being specified that the Board of Directors may decide to extend
this period so that its duration be equal to up to four (4) years for certain Beneficiaries, as stated in the corresponding Allocation Letter;
		
	“Allocation”	  	refers to the decision of the Board of Directors on the Allocation Date to allocate free Shares to a given Beneficiary. This Allocation constitutes a right to be granted Shares at the end of the Acquisition Period subject to the
compliance with the conditions and criteria set forth by the present Amended Second Free Shares 2018 Plan;
		
	“Allocation Date”	  	refers to the date on which the Board of Directors allocates free Shares to a given Beneficiary. This Allocation will constitute a right to be granted Shares at the end of the Acquisition Period subject to the compliance with the
conditions and criteria set forth by the present Amended Second Free Shares 2018 Plan;
		
	“Allocation Letter”	  	refers to the letter which inform a given Beneficiary of the allocation of free Shares, as stated in Article 5 of the Amended Second Free Shares 2018 Plan;
		
	“Beneficiaries”	  	refers to the person(s) for whose benefit the Board of Directors decided an Allocation of Shares as well as, as the case may be, his or her heirs;
		
	“Bylaws”	  	refers to the bylaws of the Company in force at the date referred to;

  
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	“Disability”	  	refers to the disability of a Beneficiary corresponding to the second or third of the categories provided by Article L. 341-4 of the French social security code;
		
	“Group”	  	refers to the Company and to all the companies and groups related to the Company in the meaning of Article L. 225-197-2 of the French commercial
code;
		
	“Holding Period”	  	refers to the one (1) year period (or such other minimum period stipulated under French law) starting on the Acquisition Date, being specified no Holding Period will be applicable to the Beneficiaries for whom the duration of
the Acquisition Period is equal to at least two (2) years as from the Allocation Date (or such other minimum period stipulated under French law), as stated in the corresponding Allocation Letter;
		
	“Presence”	  	refers to the presence of the Beneficiary in his or her capacity of employee and/or corporate officer of the Company or of any of the companies of the Group;
		
	“Shares”	  	refers to the shares issued or which will be issued by the Company in representation of its share capital;
		
	“Trading Day”	  	refers to the working days when Euronext proceeds to the listing of shares on the Alternext market Euronext in Paris other than days when the listings end prior to the usual closing hour.

  

	3.	 PURPOSE 

The purpose of the Amended Second Free Shares 2018 Plan is to set forth the conditions and criteria for the allocation of free Shares under the
Amended Second Free Shares 2018 Plan, pursuant to Articles L. 225-197-1 et seq. of the French commercial code and to the authorization granted by the
shareholders’ general meeting of the Company dated June 26, 2018. 
  

	4.	 BENEFICIARIES 

Pursuant to the authorization of the shareholders’ general meeting dated June 26, 2018, the Board of Directors of the Company
approved the list of Beneficiaries among its employees and the employees of companies in which it holds, directly or indirectly, at least ten per cent (10%) of the share capital and voting rights, together with the indication of the number of free
Shares allocated to each of them. 

  
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	5.	 NOTICE OF THE ALLOCATION OF
THE SHARES 

 The notice of the Allocation of Shares to the Beneficiaries shall be made
pursuant to an Allocation Letter sent by the Board of Directors or by any other person selected by the Board of Directors, by registered mail with acknowledgement of receipt or delivered in person with acknowledgement of receipt, together with a
copy of the present Amended Second Free Shares 2018 Plan, indicating the number of Shares allocated to the Beneficiary, the Acquisition Period and the Holding Period. 

The Beneficiary shall acknowledge receipt of the Allocation Letter and of the Amended Second Free Shares 2018 Plan by sending signed copies of
these documents within two (2) months from the date of receipt, the documents being deemed to be received on the first date of presentation, in the absence of which the Allocation shall be null and void for this Beneficiary. 

The fact that a person may benefit from the Amended Second Free Shares 2018 Plan does not imply that he or she shall benefit from any other
plan that may be implemented thereafter. 
  

	6.	 ACQUISITION PERIOD 

 

	6.1.	 Principle 

The free Shares allocated under the Amended Second Free Shares 2018 Plan shall be definitively acquired by the Beneficiaries at the end of the
Acquisition Period, provided that the following condition precedent is met: 
  

	 	•	 	 continued Presence of the Beneficiary during the Acquisition Period, in the absence of which he or she will not
be entitled to acquire Shares on the date when this condition is no longer met; 

 being specified that the Board of
Directors shall be entitled to release a given Beneficiary from the condition set forth above for all or part of the Shares granted. 

Further, should the Beneficiary be at the same time an employee and a corporate officer of the same company or of two companies of the Group,
the loss of one of these capacities shall not result in the loss of the right to acquire the free Shares allocated under the Amended Second Free Shares 2018 Plan at the end of the Acquisition Period. 

Pursuant to Article L. 225-197-3 of the French commercial
code, the Beneficiaries hold a claim against the Company which is personal and may not be transferred until the end of the Acquisition Period. 

During the Acquisition Period, the Beneficiaries will not own the free Shares and will not be shareholders of the Company. As a consequence,
they will not hold any rights attached to the Shares. 

  
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	6.2	 Internal mobility 

In the event of transfer or temporary assignment of the Beneficiary within a company of the Group, implying (i) the termination of the
initial employment agreement and the entering into of a new employment agreement or of a position as corporate officer, and/or (ii) a resignation of the Beneficiary from his or her position as corporate officer and the acceptance of a new
position of corporate officer or the entering into of a new employment agreement in one of such companies, the Beneficiary shall retain his or her right to be allocated free Shares at the end of the Acquisition Period. 

 

	6.3	 Disability 

In the event of Disability before the end of the Acquisition Period, the free Shares shall be definitively acquired by the Beneficiary on the
date of Disability. 
 For participants subject to tax in the US, the date of such disability shall be the date such disability is incurred
and in all cases such shares shall be delivered by March 15th of the year following the year in which such disability is incurred. 

 

	6.4	 Decease 

In the event of decease of the Beneficiary during the Acquisition Period, the free Shares shall be definitively acquired at the date of the
request of allocation made by his or her beneficiaries in the framework of the inheritance. 
 The request for allocation of the Shares shall
be made within six (6) months from the date of the decease in compliance with Article L. 225-197-3 of the French commercial code. 

 

	6.5	 Retirement 

In the event of the retirement of a given Beneficiary during the Acquisition Period, the Board of Directors of the Company may decide that the
condition set forth in article 6.1 above shall be deemed to be met for all or part of the Shares granted upon the date of such retirement. 
  

	7.	 HOLDING PERIOD 

 

	7.1	 Principle 

During the Holding Period, if any, the Beneficiaries concerned will be the owner of the free Shares allocated under the Amended Second Free
Shares 2018 Plan and will be shareholders of the Company. As a consequence, they will benefit from all the rights attached to the capacity of shareholder of the Company. 

However, the free Shares shall not be available during the Holding Period and the Beneficiaries may not transfer or pledge the Shares, by any
means, or convert them into the bearer form. 
 At the end of the Holding Period, the Shares will be fully available, subject to the
provisions of the following paragraph. 
 At the end of the Holding Period, if the Company’s shares are listed on a regulated market,
the free Shares allocated under the Amended Second Free Shares 2018 Plan may not be transferred during the “black-out” periods set forth in Article L. 225-197-1 of the French commercial code, i.e., as currently provided: 
  

	 	•	 	 within ten (10) Trading Days before and three (3) Trading Days after the date on which the consolidated
accounts, or failing that, the annual accounts, are published; 

  

	 	•	 	 during the period between the date on which the Company’s management bodies have knowledge of information
which, were it to be published, could have a significant impact on the price of the Shares, and the date falling ten (10) Trading Days after the date on which the said information is published. 

  
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	7.2	 Specific situations 

Notwithstanding the provisions of the second paragraph of Article 7.1 above, the free Shares allocated to the Beneficiaries referred to at
Article 6.3 above or to the beneficiaries of the deceased Beneficiary referred to at Article 6.4 above may be freely transferred as from the date of their final allocation. 

 

	8.	 CHARACTERISTICS OF THE SHARES

 The Shares definitively allocated shall be, at the Company’s choice, new ordinary shares to be issued by the
Company or existing Shares acquired by the Company. 
 As from the Acquisition Date, they shall be subject to all the provisions of the
Bylaws. 
 They shall be assimilated to existing ordinary shares of the Company and shall benefit from the same rights as from the
Acquisition Date. 
  

	9.	 DELIVERY AND HOLDING OF THE
SHARES 

 At the end of the Acquisition Period, the Company shall deliver to the Beneficiary the free
Shares allocated under the Amended Second Free Shares 2018 Plan provided that the conditions and criteria for such allocation provided by Articles 5 and 6 above are met. 

If the Acquisition Date is not a working day, the delivery of the Shares shall be completed the first working day following the end of the
Acquisition Period. 
 The Shares that may be acquired under the Amended Second Free Shares 2018 Plan will be held, during the Holding Period
(if any), under the nominative form (nominatif pur) in an individual account opened in the name of the relevant Beneficiary at Société Générale Securities Services with a mention that they cannot be transferred. At
the end of the Holding Period (or the end of the Acquisition Period if there is no Holding Period), the Shares will have to remain under the nominative form (nominatif pur) at Société Générale Securities Services
until the time they are transferred to make sure that the restrictions set forth in the last paragraph of Article 7.1 above are complied with. The conversion of the shares in another form (bearer form or nominatif administré) is not
allowed under the rules of the Amended Second Free Shares 2018 Plan. 
 In the event that, as a consequence of the allocation of free Shares
under the Amended Second Free Shares 2018 Plan, the Company or any of the companies of the Group shall be compelled to pay taxes, social costs or any other social security taxes or contributions on behalf of the Beneficiary, the Company retains the
right to postpone or to forbid the delivery of the Shares on the Acquisition Date until the relevant Beneficiary has paid to the Company or to the relevant company of the Group the amount corresponding to these taxes, social costs, or social
security taxes or contributions. 
  

	10.	 INTERMEDIARY OPERATIONS 

In the event of exchange without equalization payment (soulte) resulting from an operation of merger or
spin-off completed in compliance with the applicable regulations during the Acquisition Period or the Holding Period, the companies taking part in the operation shall substitute to the Company and the
provisions of the present Amended Second Free Shares 2018 Plan, and notably the durations of the Acquisition Period and of the Holding Period shall apply to the allocation rights and to the shares received in compliance with Article L. 225-197-1 III of the French commercial code. 
 The
same shall apply in the event of a public offering operation, of a division or a grouping of shares completed in compliance with the application regulations during the Holding Period. 

  
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	11.	 ADJUSTMENT 

Should the Company proceed, during the Acquisition Period, to an amortization, to a share capital reduction, to a change in the allocation of
its profits, to an allocation of free shares to all the shareholders, to a capitalization of reserves, profits or issuance premiums, to an allocation of reserves or to an issuance of equity securities or giving right to the allocation of equity
securities including a preferential subscription right reserved to the shareholders, the maximum number of Shares allocated under the Amended Second Free Shares 2018 Plan may be adjusted in order to take into account said operation by application,
mutatis mutandis, of the terms of adjustment provided by the law for the beneficiaries of stock options. 
 Each Beneficiary shall be
informed of the practical terms of the adjustment and of its consequences on the Allocation of Shares he or she benefited from, being specified that the free Shares allocated pursuant to this adjustment shall be governed by the present Amended
Second Free Shares 2018 Plan. 
  

	12.	 AMENDMENT TO THE AMENDED SECOND
FREE SHARES 2018 PLAN 

  

	12.1	 Principle 

The present Amended Second Free Shares 2018 Plan may be amended by the Board of Directors upon authorization of the Supervisory Board of the
Company, being specified that the amendments shall be subject to the written consent of the Beneficiaries if it results in a decrease in the rights of said Beneficiaries. 

The new provisions shall apply to the Beneficiaries of the Shares during the Acquisition Period on the date of the decision to amend the
Amended Second Free Shares 2018 Plan taken by the Board of Directors, or the written consent of the Beneficiary, if required. 
  

	12.2	 Notice of the amendments 

The amendments to the Amended Second Free Shares 2018 Plan shall be notified to the relevant Beneficiaries, by all means, including by internal
mail, by simple letter or with acknowledgement of receipt, by fax or by e-mail. 
  

	13.	 TAX AND SOCIAL RULES 

The Beneficiary shall bear all taxes and mandatory costs which he or she must bear pursuant to the applicable law in relation to the allocation
of free Shares, on the due date of said taxes or costs. 
 Each Beneficiary shall verify and carry out, as the case may be, the declaratory
obligations he or she must comply with in relation to the allocation of the free Shares. 

  
 8/13 

	14.	 MISCELLANEOUS 

 

	14.1	 Rights in relation to the capacity of employee 

No provisions of the present Amended Second Free Shares 2018 Plan shall be construed as granting to the Beneficiary a right to have his or her
employment agreement with the Company or any of the companies of the Group maintained, or limiting the right of the Company or any of the companies of the Group to terminate or amend the terms and conditions of the employment agreement of the
Beneficiary. 
  

	14.2	 Applicable law - Jurisdiction 

The present Amended Second Free Shares 2018 Plan is subject to French law. Any dispute relating to its validity, its construction or its
performance shall be decided by the competent courts of the French Republic. 
  

	14.3	 Provisions Applicable to Beneficiaries Located outside of France 

The attached Appendix applies to Beneficiaries located outside of France. 

 

	
	 Reserved to the Beneficiary:

 
 Mr/Ms ___________________________ declares having read all the provisions
of the Amended Second Free Shares 2018 Plan and Appendix, as applicable, and expressly acknowledges that these provisions apply to him/her.
  

Made in ___________________________
  

On ___________________________
  

	 
	
Signature: ___________________________ and initial on each page
  

  
 9/13 

 APPENDIX 

TERMS AND CONDITIONS 
 This Appendix contains
additional terms and conditions that will apply to the Beneficiary if he or she resides outside of France. Capitalized terms used but not defined herein shall have the same meanings assigned to them in the Amended Second Free Shares 2018 Plan. 

NOTIFICATIONS 
 This Appendix also includes
information regarding exchange control and certain other issues of which the Beneficiary should be aware with respect to his or her participation in the Amended Second Free Shares 2018 Plan. The information is based on the securities, exchange
control and other laws in effect in the respective countries as of April 2018. Such laws are often complex and change frequently. The Company therefore strongly recommends that the Beneficiary not rely on the information in this Appendix as the only
source of information relating to the consequences of his or her participation in the Amended Second Free Shares 2018 Plan because such information may be outdated when the Beneficiary vests in the Shares and/or sells any Shares issued pursuant to
the award. 
 GENERAL PROVISIONS 
 Taxes.
Regardless of any action the Company or Beneficiaries’ Employer (the “Employer”) takes with respect to any or all income tax, social insurance, payroll tax, or other Tax-Related withholding (“Tax-Related Items”), Beneficiary acknowledges that the ultimate liability for all Tax-Related Items legally due by the Beneficiary is and remains
Beneficiary’s responsibility and that the Company and/or the Employer (1) make no representations or undertakings regarding the treatment of any Tax-Related Items in connection with any aspect of the
Share grant, including the grant, vesting of the Shares, the subsequent sale of Shares acquired pursuant to such vesting and the receipt of any dividends; and (2) do not commit to structure the terms of the grant or any aspect of the Shares to
reduce or eliminate Beneficiary’s liability for Tax-Related Items. 
 Prior to vesting of the Shares,
Beneficiary will pay or make adequate arrangements satisfactory to the Company and/or the Employer to satisfy all withholding obligations of the Company and/or the Employer, if any. In this regard, Beneficiary authorizes the Company and/or the
Employer to withhold all applicable Tax-Related Items legally payable by Beneficiary from Beneficiary’s compensation paid to Beneficiary by the Company and/or Employer or from proceeds of the sale of
Shares. Alternatively, or in addition, if permissible under local law, the Company may (1) sell or arrange for the sale of Shares that Beneficiary acquires to meet the withholding obligation for
Tax-Related Items and/or (2) withhold in Shares, provided that the Company only withholds the amount of Shares necessary to satisfy the minimum withholding amount. Finally, Beneficiary will pay to the
Company or the Employer any amount of Tax-Related Items that the Company or the Employer may be required to withhold as a result of Beneficiary’s participation in the Amended Second Free Shares 2018 Plan
or Beneficiary’s acquisition of Shares that cannot be satisfied by the means previously described. The Company may refuse to honor the vesting and refuse to deliver the Shares if Beneficiary fails to comply with Beneficiary’s obligations
in connection with the Tax-Related Items as described in this section. 
 Nature of Grant. In accepting the
grant, Beneficiary acknowledges that: 
 (a) the Amended Second Free Shares 2018 Plan is established voluntarily by the Company, it is
discretionary in nature and it may be modified, amended, suspended or terminated by the Company at any time, unless otherwise provided in the Amended Second Free Shares 2018 Plan; 

(b) the grant of the Shares is voluntary and occasional and does not create any contractual or other right to receive future grants of Shares,
or benefits in lieu of Shares, even if Shares have been granted repeatedly in the past; 

  
 10/13 

 (c) all decisions with respect to future grants, if any, will be at the sole discretion of
the Company; 
 (d) Beneficiary’s participation in the Amended Second Free Shares 2018 Plan shall not create a right to further
employment with the Employer and shall not interfere with the ability of the Employer to terminate Beneficiary’s employment relationship at any time with or without cause unless otherwise required under local law; 

(e) Beneficiary is voluntarily participating in the Amended Second Free Shares 2018 Plan; 

(f) the Shares are an extraordinary item that do not constitute compensation of any kind for services of any kind rendered to the Company or
the Employer, and which is outside the scope of Beneficiary’s employment contract, if any; 
 (g) the Shares are not part of normal or
expected compensation or salary for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy, end of service payments, bonuses, long service awards, pension or retirement benefits or similar
payments and in no event should be considered as compensation for, or relating in any way to, past services for the Company or the Employer; 

(h) in the event that Beneficiary is not an employee of the Company, the grant will not be interpreted to form an employment contract or
relationship with the Company; and furthermore, the grant will not be interpreted to form an employment contract with the Employer or any subsidiary or affiliate of the Company; 

(i) the future value of the underlying Shares is unknown and cannot be predicted with certainty; 

(j) if Beneficiary obtains Shares, the value of those Shares may increase or decrease; 

(l) in consideration of the grant, no claim or entitlement to compensation or damages shall arise from termination of the award of Shares or
diminution in value of the award resulting from termination of Beneficiary’s employment with the Company or the Employer (for any reason whatsoever) and Beneficiary irrevocably releases the Company and the Employer from any such claim that may
arise; if, notwithstanding the foregoing, any such claim is found by a court of competent jurisdiction to have arisen, then, by signing the Amended Second Free Shares 2018 Plan, Beneficiary shall be deemed irrevocably to have waived
Beneficiary’s entitlement to pursue such claim; and 

  
 11/13 

 (m) unless otherwise decided by the Board of Directors, in the event of termination of
Beneficiary’s employment during the acquisition period, Beneficiary’s right to vest in the Shares under the Amended Second Free Shares 2018 Plan, if any, will terminate effective as of the date that Beneficiary is no longer actively
employed and will not be extended by any notice period mandated under the local law (e.g., active employment would not include a period of “garden leave” or similar period pursuant to local law). 

Data Privacy. Beneficiary hereby explicitly and unambiguously consents to the collection, use and transfer, in electronic or other form, of
Beneficiary’s personal data as described in this document by and among, as applicable, the Employer, the Company and its subsidiaries and affiliates for the exclusive purpose of implementing, administering and managing Beneficiary’s
participation in the Amended Second Free Shares 2018 Plan. 
 Beneficiary understands that the Company and the Employer may hold certain personal
information about Beneficiary, including, but not limited to, Beneficiary’s name, home address and telephone number, date of birth, social insurance number or other identification number, salary, nationality, job title, any Shares or
directorships held in the Company, details of all awards or any other entitlement to Shares awarded, canceled, exercised, vested, unvested or outstanding in Beneficiary’s favor, for the exclusive purpose of implementing, administering and
managing the Amended Second Free Shares 2018 Plan (“Data”). 
 Beneficiary understands that the recipients of the Data may be located in
France or elsewhere (including outside the European Union), and that the recipients’ country may have different data privacy laws and protections than Beneficiary’s country. Beneficiary understands that Beneficiary may request a list with
the names and addresses of any potential recipients of the Data by contacting Beneficiary’s local human resources representative. Beneficiary authorizes the Company and any other possible recipients which may assist the Company (presently or in
the future) with implementing, administering and managing the Amended Second Free Shares 2018 Plan to receive, possess, use, retain and transfer the Data, in electronic or other form, for the sole purpose of implementing, administering and managing
Beneficiary’s participation in the Amended Second Free Shares 2018 Plan. Beneficiary understands that Data will be held only as long as is necessary to implement, administer and manage Beneficiary’s participation in the Amended Second Free
Shares 2018 Plan. Beneficiary understands that Beneficiary may, at any time, view the Data, request additional information about the storage processing of the Data, require any necessary amendments to Data or refuse or withdraw the consents herein,
in any case without cost, by contacting in writing Beneficiary’s local human resources representative. Beneficiary understands, however, that refusing or withdrawing Beneficiary’s consent may affect Beneficiary’s ability to
participate in the Amended Second Free Shares 2018 Plan. For more information on the consequences of Beneficiary’s refusal to consent or withdrawal of consent, Beneficiary understands that Beneficiary may contact Beneficiary’s local human
resources representative. 
 Language. If Beneficiary has received this document or any other document related to the Amended Second Free Shares
2018 Plan translated into a language other than French and if the translated version is different than the French version, the French version will control. 

Electronic Delivery. The Company may, in its sole discretion, decide to deliver any documents related to the Amended Second Free Shares 2018 Plan or
future awards that may be granted under the Amended Second Free Shares 2018 Plan by electronic means or to request Beneficiary’s consent to participate in the Amended Second Free Shares 2018 Plan by electronic means. Beneficiary hereby consents
to receive such documents by electronic delivery and, if requested, to agree to participate in the Amended Second Free Shares 2018 Plan through an on-line or electronic system established and maintained by the
Company or another third party designated by the Company. 
 Severability. The provisions of this Amended Second Free Shares 2018 Plan are severable
and if any one or more provisions are determined to be illegal or otherwise unenforceable, in whole or in part, the remaining provisions shall nevertheless be binding and enforceable. 

  
 12/13 

 United States 

Beneficiary acknowledges that both this award and any Shares are securities, the issuance by the Company of which requires compliance with federal and state
securities laws. 
 Beneficiary acknowledges that these securities are made available to Beneficiary only on the condition that Beneficiary makes the
representations contained in this section to the Company. 
 Beneficiary has made a reasonable investigation of the affairs of the Company sufficient to be
well informed as to the rights and the value of these securities. 
 The Amended Second Free Shares 2018 Plan has been drafted with the intent that each
payment thereunder is exempt from Internal Revenue Code Section 409A and should be interpreted accordingly. In all cases, the shares will be delivered on or before March 15th of the year
following the year in which a substantial risk of forfeiture no longer exists. 
 The Company makes no representation as to the tax status of the Amended
Second Free Shares 2018 Plan to the Beneficiary’s who should seek their own tax advice. 
 Term Changes/Addendum to the Amended Second Free Shares
2018 Plan 
 Section 6.6 (Retirement) of the Amended Second Free Shares 2018 Plan does not apply to beneficiaries subject to tax in the United
States. 

  
 13/13lrmr-ex42_407.htm

 

Exhibit 4.2

 

 

DESCRIPTION OF THE COMPANY’S SECURITIES

REGISTERED PURSUANT TO SECTION 12 OF THE 

SECURITIES EXCHANGE ACT OF 1934 

Larimar Therapeutics, Inc., or the Company, has one class of securities registered under Section 12 of the Securities Exchange Act of 1934, as amended, or the Exchange Act. The Company’s common stock, $0.001 par value per share, or the Common Stock, is registered under Section 12(b) of the Exchange Act. The following description of our Common Stock is a summary and does not purport to be complete. It is subject to and qualified in its entirety by reference to our Ninth Amended and Restated Certificate of Incorporation, as amended, or the Charter, and our Amended and Restated Bylaws, or the Bylaws, each of which is incorporated by reference as an exhibit to the Annual Report on Form 10-K of which this Exhibit 4.2 is a part. We encourage you to read our Charter, Bylaws and the applicable provisions of the General Corporation Law of the State of Delaware, or the DGCL, for additional information. 

Common Stock

Authorized Capital Stock. Our authorized capital stock consists of 115,000,000 shares of common stock, par value $0.001 per share, and 5,000,000 shares of preferred stock, par value $0.001 per share. 

Voting Rights. Holders of our common stock are entitled to one vote for each share held of record on all matters submitted to a vote of stockholders. The holders of our common stock do not have any cumulative voting rights.

Dividends. Holders of our common stock are entitled to receive ratably any dividends declared by our Board of Directors, or Board, out of funds legally available for that purpose, subject to any preferential dividend rights of any outstanding preferred stock.

No Preemptive or Similar Rights. Our common stock has no preemptive rights, conversion rights or other subscription rights or redemption or sinking fund provisions. In the event of a liquidation, dissolution or winding up of us, holders of our common stock will be entitled to share ratably in all assets remaining after payment of all debts and other liabilities and any liquidation preference of any outstanding preferred stock.

Transfer Agent and Registrar. The transfer agent and registrar for our common stock is Computershare Trust Company, N.A.

Listing. Our common stock is listed on The Nasdaq Global Market under the symbol “LRMR.” 

Reverse Split

On May 28, 2020, we filed an amendment to our Charter in order to effect a 1-for-12 reverse stock split of our common stock effective for trading purposes on May 29, 2020. The number of authorized stock remained unchanged at 120,000,000 shares.

Preferred Stock

Our Board currently has the authority, without further action by our stockholders, to issue up to 5,000,000 shares of preferred stock in one or more series and to fix the rights, preferences, privileges and restrictions thereof. These rights, preferences and privileges could include dividend rights, conversion rights, voting rights, terms of redemption, liquidation preferences, sinking fund terms and the number of shares constituting, or the designation of, such series, any or all of which may be greater than the rights of common stock. The issuance of preferred stock by us could adversely affect the voting power of holders of our common stock and the likelihood that such holders will receive dividend payments and payments upon a liquidation of us. In addition, the issuance of preferred stock could have the effect of delaying, deferring or preventing a change in control of us or other corporate action. No shares of preferred stock are outstanding, and we have no present plans to issue any shares of preferred stock.

 

 

Provisions of Our Charter and Bylaws and Delaware Anti-Takeover Law

Certain provisions of the DGCL and of our Charter and Bylaws could have the effect of delaying, deferring or discouraging another party from acquiring control of us. These provisions, which are summarized below, are expected to discourage certain types of coercive takeover practices and inadequate takeover bids and, as a consequence, they might also inhibit temporary fluctuations in the market price of our common stock that often result from actual or rumored hostile takeover attempts. These provisions are also designed in part to encourage anyone seeking to acquire control of us to first negotiate with our Board. These provisions might also have the effect of preventing changes in our management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders might otherwise deem to be in their best interests. However, we believe that the advantages gained by protecting our ability to negotiate with any unsolicited and potentially unfriendly acquirer outweigh the disadvantages of discouraging such proposals, including those priced above the then-current market value of our common stock, because, among other reasons, the negotiation of such proposals could improve their terms.

Board Composition and Filling Vacancies. Our Charter provides for the division of our Board into three classes serving staggered three-year terms, with one class being elected each year. Our Charter also provides that directors may be removed only for cause and then only by the affirmative vote of the holders of 75% or more of the shares then entitled to vote at an election of directors. Furthermore, any vacancy on our Board, however occurring, including a vacancy resulting from an increase in the size of our Board, may only be filled by the affirmative vote of a majority of our directors then in office even if less than a quorum.

No Written Consent of Stockholders. Our Charter provides that all stockholder actions are required to be taken by a vote of the stockholders at an annual or special meeting, and that stockholders may not take any action by written consent in lieu of a meeting.

Meetings of Stockholders. Our Charter and Bylaws provide that only a majority of the members of our Board then in office may call special meetings of stockholders and only those matters set forth in the notice of the special meeting may be considered or acted upon at a special meeting of stockholders. Our Bylaws limit the business that may be conducted at an annual meeting of stockholders to those matters properly brought before the meeting.

Advance Notice Requirements. Our Bylaws establish advance notice procedures with regard to stockholder proposals relating to the nomination of candidates for election as directors or new business to be brought before meetings of our stockholders. These procedures provide that notice of stockholder proposals must be timely given in writing to our corporate secretary prior to the meeting at which the action is to be taken. Generally, to be timely, notice must be received at our principal executive offices not less than 90 days nor more than 120 days prior to the first anniversary date of the annual meeting for the preceding year. Our Bylaws specify the requirements as to form and content of all stockholders’ notices.

 

Amendment to Charter and Bylaws. As required by the DGCL, any amendment of our Charter must first be approved by a majority of our Board, and if required by law or our Charter, must thereafter be approved by a majority of the outstanding shares entitled to vote on the amendment and a majority of the outstanding shares of each class entitled to vote thereon as a class, except that the amendment of the provisions relating to stockholder action, board composition, limitation of liability and the amendment of our Charter must be approved by not less than 75% of the outstanding shares entitled to vote on the amendment, and not less than 75% of the outstanding shares of each class entitled to vote thereon as a class. Our Bylaws may be amended by the affirmative vote of a majority of the directors then in office, subject to any limitations set forth in the Bylaws; and may also be amended by the affirmative vote of at least 75% of the outstanding shares entitled to vote on the amendment, or, if our Board recommends that the stockholders approve the amendment, by the affirmative vote of the majority of the outstanding shares entitled to vote on the amendment, in each case voting together as a single class.

As a Delaware corporation, we are also subject to provisions of Delaware law, including Section 203 of the DGCL. In general, Section 203 prohibits a publicly held Delaware corporation from engaging in a “business combination” with an “interested stockholder” for a three-year period following the time that this stockholder becomes an interested stockholder, unless the business combination is approved in a prescribed manner. Under Section 203, a 

 

 

business combination between a corporation and an interested stockholder is prohibited unless it satisfies one of the following conditions:

 

	
 
	
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before the stockholder became interested, the board of directors approved either the business combination or the transaction which resulted in the stockholder becoming an interested stockholder;

 

	
 
	
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upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the voting stock outstanding, shares owned by persons who are directors and also officers, and employee stock plans, in some instances, but not the outstanding voting stock owned by the interested stockholder; or

 

	
 
	
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at or after the time the stockholder became interested, the business combination was approved by the board of directors and authorized at an annual or special meeting of the stockholders by the affirmative vote of at least two-thirds of the outstanding voting stock which is not owned by the interested stockholder.

Section 203 defines a business combination to include:

 

	
 
	
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any merger or consolidation involving the corporation and the interested stockholder;

 

	
 
	
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any sale, transfer, lease, pledge or other disposition involving the interested stockholder of 10% or more of the assets of the corporation any conflicts or violations of each party’s agreements as a result of the merger or the merger agreement;

 

	
 
	
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subject to exceptions, any transaction that results in the issuance or transfer by the corporation of any stock of the corporation to the interested stockholder;

 

	
 
	
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subject to exceptions, any transaction involving the corporation that has the effect of increasing the proportionate share of the interested stockholder; and

 

	
 
	
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the receipt by the interested stockholder of the benefit of any loans, advances, guarantees, pledges or other financial benefits provided by or through the corporation.

In general, Section 203 defines an interested stockholder as any entity or person beneficially owning 15% or more of the outstanding voting stock of the corporation and any entity or person affiliated with or controlling or controlled by the entity or person.

Exclusive Jurisdiction of Certain Actions. Our Charter provides that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware shall be the sole and exclusive forum for (i) any derivative action or proceeding brought on our behalf, (ii) any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers or other employees to us or our stockholders, (iii) any action asserting a claim arising pursuant to any provision of the DGCL, our Charter or our Bylaws, or (iv) any action asserting a claim against us governed by the internal affairs doctrine. This provision does not apply to claims arising under the Exchange Act or the Securities Act. Although we believe this provision benefits us by providing increased consistency in the application of Delaware law in the types of lawsuits to which it applies, the provision may have the effect of discouraging lawsuits against our directors and officers. The enforceability of similar exclusive forum provisions in other companies’ certificates of incorporation has been challenged in legal proceedings, and it is possible that a court could rule that this provision in our Charter is inapplicable or unenforceable.

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