Document:

Exhibit 10.1
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Generation Bio Co.
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December 8, 2017
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Phillip Samayoa
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Dear Phillip:
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On behalf of Generation Bio. Co. (the "Company"), I am pleased to offer you employment with the Company on the following terms and conditions.
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1.  Position. You will be employed by the Company as a Senior Director of Corporate Development and Portfolio Strategy. It is contemplated that you will commence employment on a date to be mutually agreed upon between you and the Company, but which in no event shall be later than December 18, 2017 (the "Start Date"). You shall work out of the Company's office in Cambridge. Massachusetts. You agree to devote your full business time, best efforts, skill, knowledge, attention and energies to the advancement of the Company's business and interests and to the performance of your duties and responsibilities as an employee of the Company, and shall not engage in any other employment, consulting or other business activity without the prior written consent of the Company. However, it is understood that you will be in a transitional period from your start date through January 31, 2018. During this transitional period you may spend 1-2 days per week continuing to work for your previous full-time employer and your semi-monthly based salary noted below will be prorated as appropriate.
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2.Base Salary.  You will receive a base salary at the semi-monthly rate of $9,166.66 which is equivalent to $220,000 on an annualized basis (the "Base Salary"). All payments will be subject to legally required tax withholdings. The Base Salary will be subject to adjustment as determined by the Company in its discretion.
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You will also receive a payment of $15,000 which will be made with your first semi-monthly salary payment. All payments will be subject to legally required tax withholdings.
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3.Bonus. Following the end of each fiscal year during the term of your employment commencing with the year ended December 31. 2018 and provided you remain employed by the Company on the last day of such fiscal year. you will be eligible to receive an annual incentive bonus for such fiscal year with a target of up to twenty percent (20%) of your annual Base Salary. The bonus will be awarded based on criteria established by the Company and shall be determined by the Company in its sole discretion. Any bonus will be paid no later than March 15th of the year following the close of the year to which it relates. Any bonus would be pro-rated for the 2018 fiscal year.
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4.Equity. Subject to the approval of the Company's Board of Directors (the "Board"), the Company shall grant you an equity award of 175,000 shares of the Company's common stock in the form of either a restricted stock award (the ''Restricted Shares") or stock options to purchase the shares (the "Options"). Regardless of the form of equity award, the award will vest as to 25% of the underlying shares on the first anniversary of the Start Date and will vest as to the balance in equal quarterly installments of 6.25% thereafter until the fourth anniversary of the Start Date and will otherwise be subject to the terms and conditions of the stock or option agreement, and/or the Company's stock plan (the "Grant Documents"). The Restricted Shares or Options granted hereunder shall have a purchase price per share or exercise price per share equal to the fair market value of the Company's common stock at the time of grant as determined by the Board.
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		5.	Benefits.

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		a.	You may participate in the benefit programs offered by the Company to its employees from time to time, provided that you are eligible under (and subject to all provisions of) the plan documents that govern those programs. Benefits are subject to change at any time in the Company's sole discretion. You will also be entitled to paid vacation each year in accordance with the terms and conditions set forth in the Company's vacation policy as in effect from time to time. You shall also be entitled to receive reimbursement for all reasonable business expenses incurred by you in performing your services to the Company, in accordance with the policies and procedures then in effect and established by the Company.	

		b.	If your employment with the Company is terminated without Cause (as defined below), then the Company shall continue to pay you your Base Salary as in effect on your last day of employment for a period of at least one (1) month. However, you will not be eligible for this benefit unless you: (i) have returned all Company property in your possession on or prior to your last day of employment, and, and (ii) have entered into a separation agreement that has become enforceable and irrevocable and that includes a general release of all employment-related claims that you may have against the Company or persons affiliated with the Company (the "Separation Agreement"). The Separation Agreement must be in substantially the form reasonably prescribed by the Company, and must be executed and must become enforceable and irrevocable on or before the 52nd day following your last day of employment with the Company. If you fail to execute without revocation the Separation Agreement on or before the 52nd day following your last day of employment with the Company, you shall not be entitled to severance payments. The continued salary provided shall be paid in accordance with the Company's normal payroll practices and shall commence on the next payroll date falling after the date the Separation Agreement becomes enforceable and irrevocable. For this section. Cause shall mean (i) your material breach of the Invention Agreement, (ii) 	

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your conviction of, or your plea of "guilty" or "no contest" to, a felony under the laws of the United States or any State, (iii) your gross negligence or willful misconduct in the performance of your duties, (iv) your continuing failure to perform assigned duties after receiving written notification of the failure from your direct supervisor or (v) your failure to cooperate in good faith with a governmental or internal investigation of the Company or its directors, officers or employees, if the Company has requested your cooperation.

		c.	If your employment with the Company is terminated without Cause prior to June 11, 2019, 25% of the unvested portion of the grant of Restricted Shares or Options will fully vest as of the date of termination, provided, however, that: (i) no shares may be transferred and no stock option exercised (in each case with respect to the unvested portion) until the Separation Agreement has become enforceable and irrevocable and (ii) if the Separation Agreement does not become enforceable and irrevocable in accordance with this offer letter, the portions of the Restricted Shares or Options that have vested as a result of this provision shall be cancelled effective as of the date of termination.	

6.Representation Regarding Other Obligations.  Your employment is contingent upon your signing the Company's Invention, Non-Disclosure, Non-Competition and Non-Solicitation Agreement (the ''Invention Agreement"). Further, you hereby represent to the Company that you are not a party to any agreement of any type which may impact or limit your ability to become employed by or perform your job at the Company or which is in any way inconsistent with the terms of this offer letter. You will not disclose to the Company or induce the Company to use any confidential or proprietary information or material belonging to any current or previous employer or others. Further, you hereby represent that (i) your employment with the Company and this offer letter does not and will not violate or conflict with any obligations you may have to or any agreements you may have with any former employer and (ii) you have provided the Company with all written agreements that describe any continuing post-employment obligations to any former employer.
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7.Proof of Legal Right to Work. You agree to provide to the Company, within three (3) days of the Start Date, documentation proving your eligibility to work in the United States, as required by the Immigration Reform and Control Act of 1986. You may need a work visa in order to be eligible to work in the United States. If that is the case, your employment with the Company will be conditioned upon your obtaining a work visa in a timely manner as determined by the Company.
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		8.	Tax Matters.

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a.All forms of compensation referred to in this offer letter are subject to reduction to reflect applicable withholding and payroll taxes and other deductions required by law. You hereby acknowledge that the Company does not have a duty to design its compensation policies in a manner that minimizes your tax liabilities and that you will not make any claim against the Company or the Board related to tax liabilities arising from your compensation.
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b.All in-kind benefits provided and expenses eligible for reimbursement hereunder shall be provided by the Company or incurred by you during your employment with the Company. All reimbursements shall be paid as soon as administratively practicable, but in no event shall any reimbursement be paid after the last day of the taxable year following the taxable year in which the expense was incurred. The amount of in-kind benefits provided or reimbursable expenses incurred in one taxable year shall not affect the in-kind benefits to be provided or the expenses eligible for reimbursement in any other taxable year. Such right to reimbursement or in-kind benefits is not subject to liquidation or exchange for another benefit.
9.Interpretation, Amendment and Enforcement. This offer letter, along with the Invention Agreement and the Grant Documents, constitute the complete agreement between you and the Company, contain all the terms of your employment, and supersede any prior agreements, representations or understandings (whether written, oral or implied) between you and the Company. The terms of this offer letter and the resolution of any disputes as to the meaning, effect, performance or validity of this offer letter or arising out of, related to, or in any way connected with, this offer letter, your employment with the Company or any other relationship between you and the Company (the "Disputes'') will be governed by Massachusetts law, excluding laws relating to conflicts or choice of law. You and the Company submit to the exclusive personal jurisdiction of the federal and state courts located in the Commonwealth of Massachusetts in connection with any Dispute or any claim related to any Dispute.
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10. Other Terms. This letter shall not be construed as an agreement, either express or implied, to employ you for any stated term, and shall in no way alter the Company's policy of employment at-will, which means that you have the right to terminate your employment relationship with the Company at any time for any reason and the Company has the right to terminate its employment relationship with you at any time for any reason, with or without cause or notice. Similarly, nothing in this letter shall be construed as an agreement, either express or implied, to pay you any compensation or grant you any benefit beyond the end of your employment with the Company.
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We are excited about having you join the Company. If this letter correctly sets forth the terms under which you will be employed by the Company, please sign the enclosed duplicate of this letter in the space provided below and return it to me, along with a signed copy of the Invention Agreement. If you do not accept this offer by December 13, 2017, this offer will be deemed revoked.
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[Remainder of Page Intentionally Left Blank]
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Very truly yours,
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Generation Bio. Co.
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/s/ Glenn Goddard
Glenn Goddard
Chief Financial Officer
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I have read and accept this offer of employment:
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/s/ Phillip Samayoa
Name: Phillip Samayoa
Dated: 12.11.2017
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generation bioTM

Cambridge, MA 02142
generationbio.com
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December 3, 2018
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Phillip Samayoa
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We would like to express our appreciation and commendation for all the passion and commitment you have been exhibiting in your existing role. In recognition of your contribution and leadership, it is my pleasure to inform you that you have been promoted to Vice President, Corporate Development.
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In connection with your promotion, we are also pleased to inform you that your base salary will be increased to $245,000.00 (on an annualized basis) effective on December 3, 2018, payable under our standard payroll schedule and subject to applicable deductions and withholdings.
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Your target bonus percentage is also being increased. Your new target annual incentive bonus is 30% of your new annual salary (and the new target percentage will be used for your bonus calculation for the period beginning December 3, 2018).
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As detailed in your original offer letter, the actual bonus percentage distributed in any year will be determined at the sole discretion of the Board of Directors of Generation Bio. The Board's determination will consider several factors including but not limited to the performance of the company.
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On behalf of Generation Bio, the management team, your colleagues and me, thank you for your contributions and we all look forward to continuing to grow Generation Bio together.
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Very truly yours, Generation Bio
By: /s/ Geoff McDonough
Name: Geoff McDonough
Title: Chief Executive Officer
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I have read and accepted this promotion:
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/s/ Phillip Samayoa
Signature
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Name: Phillip Samayoa
Dated: 12/13/2018
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April 28, 2021 Phillip Samayoa
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Cambridge, MA 02142
generationbio.com
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We would like to express our appreciation and commendation for all the passion and commitment you have been exhibiting in your existing role. In recognition of your contribution and leadership, it is my pleasure to inform you that, effective May 1, 2021 (the “Effective Date”), you will be promoted to SVP, Head of Corporate Development.
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In connection with your promotion, we are also pleased to inform you that as of the Effective Date your base salary will be increased to $330,000 (on an annualized basis) payable under our standard payroll schedule and subject to applicable deductions and withholdings.
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Your target bonus percentage is also being increased as of the Effective Date. Your new target bonus will be 35% of your new annual salary (which will be prorated for the 2021 annual incentive bonus plan).
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As detailed in your original offer letter, the actual bonus percentage distributed in any year will be determined at the sole discretion of the Board of Directors of Generation Bio. The Board’s determination will consider several factors including but not limited to the performance of the company.
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You will also be granted options to purchase an additional 30,000 shares of Generation Bio’s common stock (the “Option Grant”), subject to the approval of the Board. The options subject to the Option Grant (“Options”) will vest as to 25% of the underlying shares on the first anniversary of the Effective Date and will vest as to the balance in equal quarterly installments of 6.25% thereafter until the fourth anniversary of the Promotion Date. The Option Grant will be subject to the terms and conditions of a written stock option agreement which you will be required to sign, and/or the Company’s written stock plan (the “Grant Documents”). The Options shall have an exercise price per share equal to the closing price of Generation Bio’s common stock on the Nasdaq Global Select Market on May 3, 2021 (the first trading day after the Effective Date).
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In connection with your expanded role, we further extend severance benefits that may apply in the event of an involuntary termination of your employment with the Company other than for cause. The accompanying Severance Plan Benefit Agreement describes this program.
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On behalf of Generation Bio, the management team, your colleagues and me, thank you for your contributions and we all look forward to continuing to grow Generation Bio together.
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Very truly yours, 
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Generation Bio
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By: /s/ Geoff McDonough
Name: Geoff McDonough, M.D. Title:Chief Executive Officer
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I have read and accepted this promotion,
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/s/ Phillip Samayoa
Signature
Name: Phillip Samayoa
Dated: 4/28/2021
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September 16, 2022 Phillip Samayoa
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Dear Phillip:

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Cambridge, MA 02142
generationbio.com
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We would like to express our appreciation and commendation for all the passion and commitment you have been exhibiting in your existing role. In recognition of your contribution and leadership, it is my pleasure to inform you that, effective September 16, 2022, you will be promoted to Chief Strategy Officer.
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In connection with your promotion, we are also pleased to inform you that your base salary will be increased to $390,000 (on an annualized basis) payable under our standard payroll schedule and subject to applicable deductions and withholdings.
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Your target bonus percentage is also being increased. Your new target bonus, effective September 16, 2022, will be 40% of your new annual salary (which will be prorated for the 2022 annual incentive bonus plan).
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As detailed in your original offer letter, the actual bonus percentage distributed in any year will be determined at the sole discretion of the Board of Directors of Generation Bio. The Board’s determination will consider several factors including but not limited to the performance of the company.
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You will also be granted options to purchase an additional 110,000 shares of Generation Bio’s common stock (the “Option Grant”), subject to the approval of the Board. The options subject to the Option Grant (“Options”) will vest as to 25% of the underlying shares on the first anniversary of your Promotion Date and will vest as to the balance in equal quarterly installments of 6.25% thereafter until the fourth anniversary of the Promotion Date. The Option Grant will be subject to the terms and conditions of a written stock option agreement which you will be required to sign, and/or the Company’s written stock plan (the “Grant Documents”). The Options shall have an exercise price per share equal to the fair market value of the Company’s common stock at the time of grant, as determined by the Board.
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On behalf of Generation Bio, the management team, your colleagues and me, thank you for your contributions and we all look forward to continuing to grow Generation Bio together.
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Very truly yours,
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Generation Bio
By: /s/ Geoff McDonough
Geoff McDonough, M.D.
Title: Chief Executive Officer
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I have read and accepted this promotion,
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/s/ Phillip Samayoa
Signature
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Phillip Samayoa
Dated: 9/26/2022Exhibit 10.1

 

 

C
A R N I V A L

C
O R P O R A T I O N & P L C

 

November 2, 2022 

 

Mr. Arnold W. Donald

Carnival Corporation & plc

3655 NW 87th Avenue

Miami, FL 33178

 

RE: Consulting Agreement

 

Dear Arnold:

 

This letter agreement (the
 “Consulting Agreement”) will detail the terms of the consulting arrangement entered into between Carnival Corporation and
Carnival plc (collectively “Carnival”) and you following your resignation from employment with Carnival. Specifically, the
parties have agreed that you will make yourself reasonably available for consultation as needed to provide background information, industry
and Carnival experience and expertise, insights on diversity, equity, and inclusion, and advice to the Chair of the Board, the President
and Chief Executive Officer, and Carnival officers upon request, as well as other company-related responsibilities such as serving as
the Chair of the World Travel & Tourism Counsel (“WTTC”) or other membership duties as requested by the Chair or CEO.

 

In consideration for your
services, Carnival shall pay you $1,000,000.00 annually and such payment shall be compensation for all services under this Consulting
Agreement as described herein. Payment shall be made on a monthly basis. The parties agree that any travel expenses must be pre-authorized
by the CEO, and will be incurred on Carnival’s account or reimbursed in a manner consistent with the travel policy for general executives
of Carnival.

 

As a consultant, Carnival
employee benefits will no longer be available following November 30, 2022, with the exception that Carnival will continue to provide you
with the existing health care coverage for you and any beneficiaries who were currently on your health insurance plan as of the last date
of employment with Carnival. Carnival’s worker’s compensation will no longer be applicable and you will be responsible for
the payment of any taxes.

 

This Consulting Agreement
shall commence on December 1, 2022 and shall terminate on February 28, 2025. Carnival may, however, terminate this Consulting Agreement
with five days written notice in the event you violate any of the terms of this Consulting Agreement. You may terminate for any reason
with thirty (30) days written notice. In the event of early termination, all unpaid fees hereunder, or any unvested equity, shall immediately
cease and shall no longer be owed.

 

    Page 1 of 3

     

    

 

For the duration of this Consulting
Agreement, you agree to abide by Carnival’s Code of Business Conduct and Ethics. The parties have agreed that for the duration of
this Consulting Agreement, you will not accept employment with any other entity; however, you are free to engage in other consulting relationships,
serve on other entities’ Boards, and provide other non-employment services, subject to the confidentiality, non-competition, and
non-disparagement clauses below.

 

Carnival owns, has, and will
develop and compile certain information, which is non-public, confidential or proprietary in nature. Such information is referred to in
this Consulting Agreement collectively as “Confidential Information”. You agree that, at all times during and after the term
of this Consulting Agreement and for a period of five (5) years thereafter, you will hold in trust, keep confidential, and protect the
value of all Confidential Information and will prevent the misappropriation or disclosure thereof. You will not disclose or use to your
benefit (or the benefit of any third party) or to the detriment of Carnival any Confidential Information. You acknowledge that you are
aware that the unauthorized disclosure of Confidential Information may be highly prejudicial to Carnival's interests, an invasion of privacy,
and an improper disclosure of trade secrets. Additionally, Carnival shall retain all right, title and interest in any and all work product
and deliverables completed under this Agreement. You agree that during the term of this Consulting Agreement and at all times thereafter:
(i) you will not use any Carnival Confidential Information for your own use or for any purpose other than the specific purpose of completing
the services contemplated in this Consulting Agreement; (ii) you shall not disclose any Carnival Confidential Information to any other
person or entity; and (iii) you will hold the Confidential Information in strict confidence and protect the Confidential Information from
disclosure using the same care you use to protect your own confidential information of like importance, but not less than reasonable care.
The Confidential Information will be kept confidential and will not, without Carnival’s prior written consent, either directly or
indirectly, be either (a) disclosed by you to any person or entity not a party hereto, in any manner whatsoever, in whole or in part,
or (b) used by you other than for internal purposes in connection with the Consulting Agreement.

 

You shall have the unencumbered
right to use the general knowledge, know how, experience or the skill (and for the avoidance of doubt without the aid of written materials
of any type produced in connection with this Consulting Agreement or during your employment with Carnival) gained while providing services
under this Agreement for the purpose of executing projects for other clients, subject to you maintaining the confidentiality of the Carnival
Confidential Information; provided, however, that you shall not, either directly or indirectly, provide any services to any direct competitor
of Carnival or any cruise line other than those of Carnival Corporation & plc (a) while you are providing services hereunder and (b)
for a period of six (6) months from the expiration or earlier termination of this Consulting Agreement, unless in each instance you have
received the prior written consent of Carnival, which may be withheld by Carnival in its sole discretion. Whether
another company or client of yours is a direct competitor of Carnival shall be determined by Carnival in its sole discretion. 
Additionally, during the term hereof and after the expiration or termination hereof, you shall not use any Confidential Information against
Carnival and shall not disparage Carnival in any form or manner.

 

You also agree that you shall
reasonably cooperate with Carnival and its counsel in connection with governmental investigation, subpoenas, or the negotiations, settlement,
defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of Carnival
that relate to events or occurrences that transpired during your employment with Carnival.

 

    Page 2 of 3

     

    

 

Please indicate your acceptance
of these terms by signing where indicated below.

 

	 	Sincerely,
	 	 
	 	Carnival Corporation and Carnival plc
	 	 
	 	/s/ Bettina Deynes
	 	Bettina Deynes
	 	Chief Human Resources Officer

 

ACCEPTED AND AGREED TO: 

 

	/s/
    Arnold W. Donald	 	November 2, 2022
	Arnold W. Donald	 	Dated

 

    Page 3 of 3

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