Document:

EX-10.1

 Exhibit 10.1 
  

					
	

	 	 Phone: 513-985-1920

Fax: 513-985-0999

www.aerpio.com
	  	 Aerpio Pharmaceuticals, Inc
 9987
Carver Road, Suite 420
 Cincinnati, OH 45242

  
 

 
 July 15, 2018 
 Regina
Marek, CPA MBA 
 [***] 
 [***] 

[***] 
 Dear Regina: 

It is my pleasure to extend an offer of employment to you on behalf of Aerpio Pharmaceuticals, Inc. (“Aerpio”). Aerpio is proud of its achievements
to date and we are looking to individuals such as yourself to play a key role in advancing our exciting drug products. We are convinced that you will make an impact, and we want to have you on our team. 

This letter confirms to you Aerpio’s offer of full-time employment. The terms of our offer are as follows: 

 

	1.	 Position: Vice President of Finance, reporting to Michael Rogers, Chief Financial Officer. Your
primary responsibilities at Aerpio will be to manage all elements of the Company’s financial accounting, controls, reporting, and systems. Specific responsibilities will include direct oversight of the accounting staff, maintaining and
preparing the Company’s financial statements, SEC filings, SOX compliance, technical accounting, tax accounting and compliance, internal financial reporting, and treasury. In your role, you will also act as the primary contact with our outside
auditors, and work with the CFO in preparation of financial press releases and the preparation and presentation of materials for the Audit Committee of the Board of Directors. 

 

	2.	 Start Date. Your start date will be on or around August 1, 2018. 

 

	3.	 Compensation: 

Your compensation will include the following. 

(i) A base salary of $225,000 per year, paid monthly ($18,750 per month) 

(ii) In addition to your base salary, you will be eligible to receive Incentive Compensation as follows: 

 

	 	(a)	 Annual performance-based cash bonuses up to a maximum of 30% of salary. Such bonuses are at the discretion of
the Board of Directors. For the year ending December 31, 2018, your bonus will be pro-rated from your start date 

Subject: Regina Marek Offer 

  
 Page 1 of 5 

	 	(b)	 You will receive a grant of 80,000 stock options (pending Board approval), which will vest over four years. One
quarter of these options will vest on the one-year anniversary of your start date, and the remainder will vest monthly, in equal installments, over the following 36 months. As a full-time employee, you will be
eligible for future stock options (or other long-term incentive grants) and will be included in the employee equity incentive plan. All future stock option allocations will be subject to Board discretion and approval. To the extent that the Board
approves long term incentive grants for the year ending December 31, 2018, any grants will pro-rated from your start date. 

 

	4.	 Performance / Salary Reviews: The current policy, subject to change without notice, is that reviews are
conducted on an annual basis. See Employee Handbook for more details regarding policies and expectations for employees of Aerpio. 

  

	5.	 Severance: In the event that your employment is terminated without cause, Aerpio will pay you six
(6) months of base salary. Such payments will be paid as salary continuation under Aerpio’s normal pay practices at that time. 

  

	6.	 Benefits: The Company is committed to providing comprehensive and competitive benefits to its employees.
The Company has a plan to provide for health care and dental insurance and as an employee you and your family may be eligible to join those plans. Eligibility for health care and dental insurance is contingent upon meeting the 25 hours per week
threshold. The Company also provides a 401K plan, allowing employees to place pre-tax dollars in a retirement account up to the maximum permitted by law. The Company will provide twenty (20) days of paid
time off (PTO) per calendar year, plus holidays, as defined and allocated in the Aerpio Employee Handbook. The number of vacation days available to you in 2018 is on a prorated basis depending on start date and percent year remaining. In addition to
our “hard” benefits we offer a host of “soft” benefits such as a fun, flexible and stimulating work environment and the rewards of developing important new medicines. 

 

	7.	 Taxes. 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 you will not make
any claim against the Company or its board of directors related to tax liabilities arising from your compensation. 

  

	8.	 Contingencies: Additionally, this offer is contingent upon your submission of appropriate documentation
for verification purposes in order for the Company to maintain compliance with the Immigration and Reform Control Act of 1986, as amended. Subsequent to accepting our offer, Aerpio expects all employees to complete and have in force an Employee
Agreement, incorporated by reference herein, which will be sent in a subsequent mailing. 

  
 Subject: Regina Marek
Offer 
 Page 2 of 5 

	9.	 Employment at Will: The parties hereto recognize that this offer of employment is not intended to create
a contract of employment and both Aerpio and the employee retain the right to terminate the employment relationship at any time without cause. 

  

	10.	 Covenants, Company Matters - Confidentiality and Assignment of Rights: 

Employee shall not disclose, use or make known for Employee’s or another’s benefit other than for the benefit of the Company and its
affiliates any Company Confidential Information (as further defined and elaborated in the Employee Agreement). 
 All ideas, concepts,
inventions, improvements, programs, information technology, derivative works, processes, configurations, data, procedures, designs, techniques and other works of authorship, conceived or reduced to practice by Employee, either solely or in
collaboration with others, during Employee’s employment with the Company, including but not limited to all copyright, trademark, patent, trade secret and intellectual property rights associated therewith, shall become and remain the exclusive
property of the Company. Employee hereby assigns to the Company any and all of Employee’s right, title and interest in and to any of the foregoing, and Employee waives any claim that Employee may have thereto (as further defined and elaborated
in the Employee Agreement). 
  

	11.	 Interpretation, Amendment and Enforcement. This Offer Letter constitutes the complete agreement between
you and the Company, contains all of the terms of your employment with the Company and supersedes 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 Ohio 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 state of Ohio in connection with any Dispute or any claim related to any Dispute. 

 [Remainder of Page Intentionally
Left Blank.] 

  
 Subject: Regina Marek
Offer 
 Page 3 of 5 

 To indicate acceptance, please sign and return a copy of this letter (via fax, pdf or
regular mail). 
 Gina, we look forward to you joining us at Aerpio. Everyone on the team who met you believes that you can make a great
contribution to the success of Aerpio. Aerpio presents an opportunity to work with experienced, capable people whose primary mission is to make a significant difference in the lives of people with diabetes. We hope that you will join us in this
endeavor. 
 Respectfully, 
  

			
	Aerpio Pharmaceuticals, Inc.
		
	By:	 	 /s/ Michael Rogers

	Name: Michael Rogers
	Title: Chief Financial Officer
		
	cc:	 	Stephen Hoffman, Joseph Gardner

  
  

The undersigned accepts the above employment offer, agrees that it contains partial terms of employment with Aerpio Pharmaceuticals, Inc. By accepting this
offer of employment, the undersigned is acknowledging that no prior employment obligations or other contractual restrictions exist which preclude employment with Aerpio Pharmaceuticals, Inc. It is further understood that this offer is confidential
and disclosure of any of the terms and conditions contained herein constitute grounds for termination of employment or withdrawal of this offer. 
  

	
	Accepted:
	
	 /s/ Regina Marek

	Regina Marek

  
 Subject: Regina Marek
Offer 
 Page 4 of 5 

  
 Subject: Regina Marek
Offer 
 Page 5 of 5Exhibit 10.1

 

AMENDMENT NO. 2 TO SECURITIES PURCHASE AGREEMENT,
DEBENTURES AND 

REGISTRATION RIGHTS AGREEMENT

 

This Amendment No. 2 to
Securities Purchase Agreement, Debentures and Registration Rights Agreement (this “Agreement”) is made
and entered into as of October 14, 2019 (the “Effective Date”) by and between LGBTQ Loyalty Holdings, Inc. (the
“Company”) and Pride Partners LLC (“Pride” and together with the Company, the “Parties”)
for the purpose of (i) amending that certain Securities Purchase Agreement, dated as of June 4, 2019, by and between the Parties
(as amended, the “Purchase Agreement”), (ii) amending that certain 10% Original Issue Discount Senior Convertible
Debenture due September 4, 2020 (as amended, the “Debentures”) and (iii) amending that certain Registration
Rights Agreement, dated as of June 4, 2019, by and between the Parties (as amended, the “RRA”). Reference is
made to that certain Amendment No. 1 to Securities Purchase Agreement, Debentures and Registration Rights Agreement, dated August
26, 2019 (“Amendment No. 1”). Capitalized terms used herein and not otherwise defined shall have the respective
meanings ascribed to such terms in the Purchase Agreement.

 

WHEREAS, the Parties
previously entered into Amendment No. 1 to provide the Company with an additional $200,000 of funding to continue its business
operations;

 

WHEREAS, the Company
requires $300,000 of additional funding to continue its business operations and Pride desires to provide such funding; and

 

WHEREAS, to affect
such additional funding the Parties desire to amend the Purchase Agreement and Debenture to, among other things, increase the face
amount of the Debentures by $330,000 in consideration for a cash payment of $300,000.

 

NOW, THEREFORE,
in consideration of the foregoing recitals, and for other good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, and intending to be legally bound, the Parties agree as follows:

 

1.               
Purchase and Sale. Concurrent with the execution and delivery of this Agreement by the Parties, the Company agrees to sell,
and Pride agrees to purchase, an aggregate of $330,000 in principal amount of the Debentures. Pride shall deliver to the Company,
via wire transfer or a certified check, immediately available funds equal to $300,000 in three tranches as follows: $100,000 shall
be due concurrently with the execution of this Agreement (the “Initial Tranche”), $100,000 shall be due on or
prior to November 14, 2019 (the “Second Tranche”) and $100,000 shall be due on or prior to December 14, 2019
(the “Final Tranche”); provided, that upon receipt of the Initial Tranche, the amendment contemplated by Section
2 of this Agreement shall be deemed effective.

 

2.               
Amendment to Face Value of Debentures. In accordance with Section 1 above, upon receipt of payment by the Company of the
Initial Tranche payment from Pride, the face value of the Debentures (which is currently $770,000) shall immediately, and without
any further action by either of the Parties, be amended to $1,100,000; provided, however, that if Pride shall fail to make payment
of the Second Tranche or Final Tranche on or before November 14, 2019 or December 14, 2019, respectively, the face value of the
Debentures shall immediately, and without further action by either of the Parties, be amended by $110,000 for each missed payment.

 

3.               
Waiver of Warrant Exercise at Company Demand. Upon receipt of the Initial Tranche, Second Tranche and Final Tranche, the
Company hereby irrevocably waives its right pursuant to Section 2(f) of the Warrants to make any Company Demand (as such term is
defined in the Warrants).

 

     

     

    

 

4.               
Second Additional Principal Amount Definition. Section 1 of the Purchase Agreement is hereby amended to add the defined
term “Second Additional Principal Amount” which such term shall be included in the Purchase Agreement as follows:

 

““Second Additional Principal
Amount” means the $300,000 investment made by the Purchasers on or about October 14, 2019.”

 

5.               
Amendment to Registration Rights Agreement. The defined term “Registrable Securities” in the RRA is hereby amended
and restated in its entirety as follows:

 

““Registrable Securities”
means, as of any date of determination, (a) all shares of Common Stock issued and issuable on the Debentures (other than the shares
due and payable upon conversion of the Additional Principal Amount and Second Additional Principal Amount) assuming all permissible
interest and principal payments are made in shares of Common Stock and the Debentures are held until maturity, (b) all Warrant
Shares then issued and issuable upon exercise of the Warrants (assuming on such date the Warrants are exercised in full without
regard to any exercise limitations therein), (c) any additional shares of Common Stock issued and issuable in connection with any
anti-dilution provisions in the Debentures (other than as it relates to the shares due and payable upon conversion of the Additional
Principal Amount and Second Additional Principal Amount) or the Warrants (in each case, without giving effect to any limitations
on conversion set forth in the Debentures or limitations on exercise set forth in the Warrants), and (d) any securities issued
or then issuable upon any stock split, dividend or other distribution, recapitalization or similar event with respect to the foregoing
(other than as it relates to the shares due and payable upon conversion of the Additional Principal Amount and Second Additional
Principal Amount); provided, however, that any such Registrable Securities shall cease to be Registrable Securities (and the Company
shall not be required to maintain the effectiveness of any, or file another, Registration Statement hereunder with respect thereto)
for so long as (a) a Registration Statement with respect to the sale of such Registrable Securities is declared effective by the
Commission under the Securities Act and such Registrable Securities have been disposed of by the Holder in accordance with such
effective Registration Statement, (b) such Registrable Securities have been previously sold in accordance with Rule 144, or (c)
such securities become eligible for resale without volume or manner-of-sale restrictions and without current public information
pursuant to Rule 144 as set forth in a written opinion letter to such effect, addressed, delivered and acceptable to the Transfer
Agent and the affected Holders (assuming that such securities and any securities issuable upon exercise, conversion or exchange
of which, or as a dividend upon which, such securities were issued or are issuable, were at no time held by any Affiliate of the
Company), as reasonably determined by the Company, upon the advice of counsel to the Company.”

 

6.               
Demand Registration Rights.

 

a.               
If, at any time following the three (3) month anniversary of the date of Amendment No. 1, Pride shall not have any remaining Underlying
Shares available for resale pursuant to the Registration Statement and shall not be permitted to otherwise sell the Conversion
Shares underlying the Second Additional Principal Amount (such Conversion Shares, the “Second Additional Conversion Shares”)
pursuant to Rule 144 without volume limitation, then the Company, upon written demand of Pride, agrees to use its commercially
best efforts to register under the Securities Act all or any portion of the Second Additional Conversion Shares as requested by
Pride. Upon receipt of such demand, the Company will use its commercially best efforts to file a registration statement covering
the Second Additional Conversion Shares within thirty calendar days after receipt of a demand notice and use its commercially best
efforts to have such registration statement declared effective as soon as possible thereafter. The demand notice shall specify
the number of Second Additional Conversion Shares proposed to be sold by Pride and the intended method(s) of distribution thereof.

 

     

     

    

 

b.               
Pride acknowledges and agrees that the Company shall be permitted to include on any demand registration statement filed pursuant
to this Section for resale by Brian Neal such number of shares equal to one-third (1/3) of the Second Additional Conversion Shares
that were included in Pride’s written demand for registration pursuant to this Section.

 

c.               
The Company shall not be obligated to effect more than two (2) demand registrations per calendar year, with no demand registrations
required to be effected within three (3) months of a previously effected demand registration, under this Section.

 

7.               
No Other Amendment. Except as expressly modified by this Agreement, all terms, conditions and covenants contained in the
Purchase Agreement, Debentures and RRA shall remain in full force and effect.

 

8.               
Severability. Whenever possible, each provision of this Agreement shall be interpreted in such a manner as to be effective
and valid under applicable law. However, if any provision of this Agreement shall be prohibited by or invalid under such law, it
shall be deemed modified to conform to the minimum requirements of such law and the parties will attempt to modify this agreement
by insertion, deletion or revision so as to accomplish the original intent in a fashion that is not so prohibited or invalid.

 

9.               
Successors. This Agreement shall inure to the benefit of and bind (i) any and all heirs, successors in interest, assigns,
officers, members or employees of the Parties, as applicable and (ii) any persons or entities that acquire assignee or all or substantially
all of the assets or a portion of the assets of assignee, whether by asset sale, equity transfer, merger, combination or otherwise.

 

10.            
Venue. The Parties irrevocably submit exclusively to the jurisdiction of the State of New York and the venue of New York
County in any action brought by the Parties concerning this Agreement or the performance thereof.

 

11.            
Choice of Law. This Agreement shall be governed by, construed and entered in accordance with the laws of the State of New
York applicable to contracts deemed to be made within such state, without regard to choice of law or conflict of law provisions
thereof.

 

12.            
Interpretation. No provision of this Agreement shall be interpreted or construed against any Party because that Party or
its legal representative drafted it.

 

13.            
Counterparts. This Agreement may be executed in two or more counterparts, each of which when so executed and delivered to
the other party shall be deemed an original. The executed page(s) from each original may be joined together and attached to one
such original and shall thereupon constitute one and the same instrument. Such counterparts may be delivered by facsimile or other
electronic transmission, which shall not impair the validity thereof.

 

[SIGNATURE PAGE FOLLOWS]

 

     

     

    

 

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

 

	LGBTQ LOYALTY HOLDINGS, INC.	 	PRIDE PARTNERS LLC	 
	 	 	 	 	 	 
	By:	 	 	By:	 	 
	Name:	 	 	Name:	 	 
	Title:	 	 	Title:

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