Document:

habt-ex1024_109.htm

 

Exhibit 10.24

 

October 8, 2018

 

Dear Iwona, 

 

I am pleased to present this job offer to join The Habit Burger Grill as a member of the Senior Leadership Team.  We are certain that you will be a great addition to the Habit Burger Grill team and will play a vital role in the continued growth of the company.  This letter summarizes the job offer that I recently discussed with you. The following confirms the terms and conditions commensurate with your acceptance of our offer to join The Habit. Being a Section 16 officer, this offer is also contingent on passing a criminal background check.

 

 

	
Position:
	
Chief Brand Officer – based at our home office in Irvine, CA. This is an exempt position reporting to the Chief Executive officer – Russ Bendel.  

 

	
Hire Date:
	
Your hire date will be 11/30/18 with a start date of 12/10/2018.  

 

	
Salary:
	
Your base weekly salary will be based on an annualized rate of $330,000. Your weekly rate of $6,346.15 will be paid bi-weekly. 

 

	
Bonus Program:
	
You will be eligible for up to 30% of your base salary in bonus, based on mutually agreed upon criteria to be determined, which is updated annually. Bonus paid for 2018 is guaranteed at 100% and will be pro-rated based on your start date. We will also guarantee 100% of the 2019 bonus.  

 

	
Equity Grant:
	
Upon Board of Directors approval, an equity grant of 30,000 restricted shares and 30,000 options will be given. All are subject to 5-year vesting schedule from time of grant. 

 

	
Auto Allowance:
	
$1400 per month car allowance. Subject to applicable income tax.  

 

	
Relocation:
	
In order to assist with you moving closer to the home office, The Habit will reimburse moving expenses up to $100,000 which is subject to income tax withholding. However, The Habit will gross-up the reimbursement amount to cover the cost of the tax withholding.  

 

	
Cell Phone:
	
Company supplied/paid cell phone, MiFi and Laptop.  

 

	
Comp Card:
	
Company provided comp card loaded quarterly with $1000. You must be present to use this comp benefit. Restrictions apply and are subject to change.  

 

 

 

Health & Dental Insurance:

 

 

	

	
The Habit offers enrollment to you in one of our groups: HMO Health Insurance Plans or PPO Health Insurance Plan.  The current year cost on a pay period basis for you for the 2017 - 2018 benefit year is based on the attached chart and varies in accordance of your choice for coverage.  This is not a guarantee of future contributions.   You are eligible for insurance on the first of the month following 30 days of employment.

 

 

Benefit Contributions:

				
	
Anthem Elements Choice 1500

	
Select Medical HMO Plan

	
Employee
	
 $  54.50 

	
Employee / Spouse
	
 $105.00

	
Employee / Children
	
 $  85.00 

	
Employee / Family
	
 $135.00

	
 
	
 
	
 
	
 

	
Anthem Blue Cross Traditional

	
Value Medical HMO Plan

	
Employee
	
$  90.00

	
Employee / Spouse
	
$180.00 

	
Employee / Children
	
$140.00 

	
Employee / Family
	
$260.00 

	
 
	
 
	
 
	
 

	
Anthem Blue Cross Prudent Buyer Premier 

	
Medical PPO Plan

	
Employee
	
$150.00

	
Employee / Spouse
	
$230.00

	
Employee / Children
	
$190.00

	
Employee / Family
	
$390.00

	
 
	
 
	
 
	
 

	
Anthem Blue Cross Dental 

	
Dental HMO Plan

	
Employee
	
$  5.00

	
Employee / Spouse
	
$15.00 

	
Employee / Children
	
$12.50 

	
Employee / Family
	
$20.00 

	
 

 
	
 
	
 
	
 

	
Anthem Blue Cross Dental 

	
Dental PPO Plan

	
Employee
	
$20.00

	
Employee / Spouse
	
$28.00

 

 

				
	
Employee / Children
	
$25.00 

	
Employee / Family
	
$42.00 

 

		
	
Anthem Blue Cross Vision 

	
 

	
Employee
	
$0.00

	
Employee / Spouse
	
$2.50 

	
Employee / Children
	
$2.50 

	
Employee / Family
	
$5.00 

 

 

	
Life Insurance:
	

The Habit will enroll you in our group Life insurance program.  This benefit is equal to one times your annual salary.  There is no cost to you for this benefit. You are eligible for insurance on the first of the month following 30 days of employment. 

 

Short Term Disability:

	

	
The Habit will enroll you in our Short-Term Disability program.  There is no cost to you for this benefit. You are eligible for insurance on the first of the month following 30 days of employment. 

 

Long Term Disability:

	

	
The Habit will enroll you in our Long-Term Disability program.  There is no cost to you for this benefit. You are eligible for insurance on the first of the month following 30 days of employment. 

 

Deferred Compensation Program:

	
 
	
During the next open enrollment (Dec 2018) you may choose to participate in our non-qualified deferred compensation plan with company match. The Habit program matches 50%; up to 3% of your annual salary (Vesting periods apply). Details of this plan will be supplied to you when eligible.  

 

Paid Time Off:

Vacation is accrued as follows:

20 days per year (160 hours) (4 work weeks)

Sick time is awarded at the beginning of each year:

5 days per year (40 hours) (1 work week)

 

 

Severance Agreement:

Should Habit Employment, LP terminate your employment for any reason excluding misconduct, you will be paid twelve (12) months of severance at your regular salary, provided you execute a Severance Agreement & Release prepared by the company.

 

 

 

Please sign below to indicate your acceptance of this job offer as summarized above.

 

Sincerely,

 

/s/ Russ Bendel

 

Russ Bendel

Chief Executive Officer

 

 

 

 

__/s/ Iwona Alter_________________10/09/2018_____________

Iwona AlterDate

                                   

 

This letter constitutes an offer of employment.  Nothing contained in this letter should be construed as a guarantee of continued employment, but rather employment with the Company on an “at will” basis.  This means that the employment relationship may be terminated at any time by either employee or the Company for any reason not expressly prohibited by law.  Any written or oral statement to the contrary by any agent of the Company is invalid, and should not be relied upon by any prospective employee.fixx-ex44_1018.htm

 

Exhibit 4.4

 

DESCRIPTION OF CAPITAL STOCK 

The following description of the capital stock of Homology Medicines, Inc. (the “Company,” “we,” “us” and “our”) is not complete and may not contain all the information you should consider before investing in our capital stock. This description is summarized from, and qualified in its entirety by reference to, our restated certificate of incorporation and our amended and restated bylaws, each of which has been publicly filed with the Securities and Exchange Commission (“SEC”). 

Our authorized capital stock consists of: 

 

			
	
•
	
 
	
200,000,000 shares of common stock, par value $0.0001 per share; and 

 

			
	
•
	
 
	
10,000,000 shares of preferred stock, par value $0.0001 per share. 

Common Stock 

Our common stock is listed on the Nasdaq Global Select Market under the symbol “FIXX.” 

Voting Rights. Holders of our common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders and do not have cumulative voting rights. An election of directors by our stockholders shall be determined by a plurality of the votes cast by the stockholders entitled to vote on the election. Subject to the supermajority votes for some matters, other matters shall be decided by the affirmative vote of our stockholders having a majority in voting power of the votes cast by the stockholders present or represented and voting on such matter. Our restated certificate of incorporation and amended and restated bylaws also provide that our directors may be removed only for cause and only by the affirmative vote of the holders of at least two-thirds in voting power of the outstanding shares of capital stock entitled to vote thereon. In addition, the affirmative vote of the holders of at least two-thirds in voting power of the outstanding shares of capital stock entitled to vote thereon is required to amend or repeal, or to adopt any provision inconsistent with, several of the provisions of our restated certificate of incorporation. See below under “—Anti-Takeover Effects of Delaware Law and Our Certificate of Incorporation and Bylaws—Amendment of Charter Provisions.” 

Rights Upon Liquidation. In the event of our liquidation or dissolution, the holders of common stock are entitled to receive proportionately our net assets available for distribution to stockholders after the payment of all debts and other liabilities and subject to the prior rights of any outstanding preferred stock. 

Other Rights. Holders of common stock have no preemptive, subscription, redemption or conversion rights. Our outstanding shares of common stock are, and the shares offered by us under this prospectus will be, when issued and paid for, validly issued, fully paid and nonassessable. The rights, preferences and privileges of holders of common stock are subject to and may be adversely affected by the rights of the holders of shares of any series of preferred stock that we may designate and issue in the future. 

Transfer Agent 

The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company, LLC. 

Dividend 

Holders of common stock are entitled to receive proportionately any dividends as may be declared by our board of directors, subject to any preferential dividend rights of outstanding preferred stock. We have never declared or paid any cash dividends on our common stock. We do not intend to declare or pay cash dividends for the foreseeable future. We currently expect to retain all future earnings, if any, for use in the development, operation and expansion of our business. Any determination to pay cash dividends in the future will depend upon, among other things, our results of operations, plans for expansion, tax considerations, available net profits and reserves, limitations under law, financial condition, capital requirements and other factors that our board of directors considers to be relevant. 

 

Preferred Stock 

Under the terms of our restated certificate of incorporation, our board of directors is authorized to issue shares of preferred stock in one or more series without stockholder approval. Our board of directors has the discretion to determine the rights, preferences, privileges and restrictions, including voting rights, dividend rights, conversion rights, redemption privileges and 

 

US-DOCS\114315679.1

 

liquidation preferences, of each series of preferred stock. 

The purpose of authorizing our board of directors to issue preferred stock and determine its rights and preferences is to eliminate delays associated with a stockholder vote on specific issuances. The issuance of preferred stock, while providing flexibility in connection with possible acquisitions, future financings and other corporate purposes, could have the effect of making it more difficult for a third party to acquire, or could discourage a third party from seeking to acquire, a majority of our outstanding voting stock. 

Registration Rights 

Certain holders of our common stock are entitled to rights with respect to the registration of such shares for public resale under the Securities Act, pursuant to an amended and restated investors’ rights agreement by and among us and certain of our stockholders, until the rights otherwise terminate pursuant to the terms of the investors’ rights agreement. The registration of shares of common stock as a result of the following rights being exercised would enable holders to trade these shares without restriction under the Securities Act when the applicable registration statement is declared effective. 

Form S-1 Registration Rights 

If the holders of registrable securities request in writing that we effect a registration with respect to all or part of such registrable securities then outstanding having an anticipated aggregate offering price that would exceed $5,000,000, net of expenses, we may be required to register their shares. We are obligated to effect at most two registrations in response to these demand registration rights. If the holders requesting registration intend to distribute their shares by means of an underwriting, the managing underwriter of such offering will have the right to limit the numbers of shares to be underwritten for reasons related to the marketing of the shares. 

Piggyback Registration Rights 

If at any time we propose to register any shares of our common stock under the Securities Act, subject to certain exceptions, the holders of registrable securities will be entitled to notice of the registration and to include their shares of registrable securities in the registration. If our proposed registration involves an underwriting, the managing underwriter of such offering will have the right to limit the number of shares to be underwritten for reasons related to the marketing of the shares. 

Form S-3 Registration Rights 

If, at any time after we become entitled under the Securities Act to register our shares on a registration statement on Form S-3, the holders of the registrable securities request in writing that we effect a registration with respect to registrable securities at an aggregate price to the public in the offering of at least $5,000,000, we will be required to effect such registration; provided, however, that we will not be required to effect such a registration if, within any 12-month period, we have already effected two registrations on Form S-3 for the holders of registrable securities. 

 

Expenses and Indemnification 

Ordinarily, other than underwriting discounts and commissions, we will be required to pay all expenses incurred by us related to any registration effected pursuant to the exercise of these registration rights. These expenses may include all registration and filing fees, printing expenses, fees and disbursements of our counsel, reasonable fees and disbursements of a counsel for the selling security holders and blue sky fees and expenses. Additionally, we have agreed to indemnify selling stockholders for damages, and any legal or other expenses reasonably incurred, arising from or based upon any untrue statement of a material fact contained in any registration statement, an omission or alleged omission to state a material fact in any registration statement or necessary to make the statements therein not misleading, or any violation or alleged violation by the indemnifying party of securities laws, subject to certain exceptions. 

Termination of Registration Rights 

The registration rights terminate upon the earlier of April 2, 2021 and the closing of a deemed liquidation event, as defined in the investors’ rights agreement. 

Anti-Takeover Effects of Delaware Law and Our Certificate of Incorporation and Bylaws 

Some provisions of Delaware law, our restated certificate of incorporation and our amended and restated bylaws could make 

 

US-DOCS\114315679.1

 

the following transactions more difficult: an acquisition of us by means of a tender offer; an acquisition of us by means of a proxy contest or otherwise; or the removal of our incumbent officers and directors. It is possible that these provisions could make it more difficult to accomplish or could deter transactions that stockholders may otherwise consider to be in their best interest or in our best interests, including transactions which provide for payment of a premium over the market price for our shares. 

These provisions, summarized below, are intended to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. We believe that the benefits of the increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging these proposals because negotiation of these proposals could result in an improvement of their terms. 

Undesignated Preferred Stock 

The ability of our board of directors, without action by the stockholders, to issue up to 10,000,000 shares of undesignated preferred stock with voting or other rights or preferences as designated by our board of directors could impede the success of any attempt to change control of us. These and other provisions may have the effect of deferring hostile takeovers or delaying changes in control or management of our company. 

Stockholder Meetings 

Our amended and restated bylaws provide that a special meeting of stockholders may be called only by our chairman of the board, chief executive officer or president (in the absence of a chief executive officer), or by a resolution adopted by a majority of our board of directors. 

Requirements for Advance Notification of Stockholder Nominations and Proposals 

Our amended and restated bylaws establish advance notice procedures with respect to stockholder proposals to be brought before a stockholder meeting and the nomination of candidates for election as directors, other than nominations made by or at the direction of the board of directors or a committee of the board of directors. 

 

Elimination of Stockholder Action by Written Consent 

Our restated certificate of incorporation eliminates the right of stockholders to act by written consent without a meeting. 

Staggered Board 

Our board of directors is divided into three classes. The directors in each class will serve for a three-year term, one class being elected each year by our stockholders. This system of electing and removing directors may tend to discourage a third party from making a tender offer or otherwise attempting to obtain control of us, because it generally makes it more difficult for stockholders to replace a majority of the directors. 

Removal of Directors 

Our restated certificate of incorporation and amended and restated bylaws provide that, subject to the rights of holders of any series of preferred stock, no member of our board of directors may be removed from office by our stockholders except for cause and, in addition to any other vote required by law, upon the approval of the holders of at least two-thirds in voting power of the outstanding shares of capital stock entitled to vote in the election of directors. Subject to the rights of holders of any series of preferred stock, any vacancy on our board of directors, including a vacancy resulting from an enlargement of our board of directors, may be filled only by vote of a majority of our directors then in office, unless our board of directors determines by resolution that any such vacancy or newly created directorship shall be filled by our stockholders. 

Stockholders Not Entitled to Cumulative Voting 

Our restated certificate of incorporation does not permit stockholders to cumulate their votes in the election of directors. Accordingly, the holders of a majority of the outstanding shares of our common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they choose, other than any directors that holders of our preferred stock may be entitled to elect. 

 

US-DOCS\114315679.1

 

Delaware Anti-Takeover Statute 

We are subject to Section 203 of the General Corporation Law of the State of Delaware, which prohibits persons deemed to be “interested stockholders” from engaging in a “business combination” with a publicly held Delaware corporation for three years following the date these persons become interested stockholders unless the business combination is, or the transaction in which the person became an interested stockholder was, approved in a prescribed manner or another prescribed exception applies. Generally, an “interested stockholder” is a person who, together with affiliates and associates, owns, or within three years prior to the determination of interested stockholder status did own, 15% or more of a corporation’s voting stock. Generally, a “business combination” includes a merger, asset or stock sale, or other transaction resulting in a financial benefit to the interested stockholder. The existence of this provision may have an anti-takeover effect with respect to transactions not approved in advance by the board of directors. 

Choice of Forum 

Our restated certificate of incorporation provides that, unless we consent in writing to an alternative forum, the Court of Chancery of the State of Delaware will be the sole and exclusive forum for: (1) any derivative action or proceeding brought on our behalf; (2) any action asserting a claim of breach of a fiduciary duty or other wrongdoing by any of our directors, officers, employees or agents to us or our stockholders; (3) any action asserting a claim against us arising pursuant to any provision of the General Corporation Law of the State of Delaware or our restated certificate of incorporation or amended and restated bylaws; or (4) any action asserting a claim governed by the internal affairs doctrine. Our restated certificate of incorporation also provides that any person or entity purchasing or otherwise acquiring any interest in shares of our capital stock will be deemed to have notice of and to have consented to this choice of forum provision. It is possible that a court of law could rule that the choice of forum provision contained in our restated certificate of incorporation is inapplicable or unenforceable if it is challenged in a proceeding or otherwise. 

Amendment of Charter Provisions 

The amendment of any of the above provisions, except for the provision making it possible for our board of directors to issue preferred stock and the provision prohibiting cumulative voting, would require approval by holders of at least two-thirds in voting power of the outstanding shares of capital stock entitled to vote thereon. 

The provisions of Delaware law, our restated certificate of incorporation and our amended and restated bylaws could have the effect of discouraging others from attempting hostile takeovers and, as a consequence, they may also inhibit temporary fluctuations in the market price of our common stock that often result from actual or rumored hostile takeover attempts. These provisions may also have the effect of preventing changes in the composition of our board and management. It is possible that these provisions could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests. 

 

 

US-DOCS\114315679.1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00306-of-00352.parquet"}]]