Document:

nymox_ex102.htm

 
 EXHIBIT 10.2
  
 March 18, 2022
  
 Nymox Pharmaceutical Corporation
 Bay & Deveaux Streets
 Nassau, the Bahamas
 Attn: Erik Danielsen, Chief Financial Officer
  
 Dear Mr. Danielsen:
  
 	 Re:
	 Registered Direct Offering of Common Stock and Concurrent

	  
	 Private Placement of Common Stock Purchase Warrants

  This letter (the “Agreement”) constitutes the agreement between A.G.P./Alliance Global Partners (the “Placement Agent”) and Nymox Pharmaceutical Corporation, a company incorporated under the International Business Companies Act of the Bahamas (the “Company”), that the Placement Agent shall serve as the placement agent for the Company, on a “reasonable best efforts” basis, in connection with the proposed placement (the “Placement”) of shares (the “Shares”) of the Company’s Common Stock, no par value per share (the “Common Stock”), and the common stock purchase warrants to purchase shares of Common Stock (together with the Common Stock, the “Securities”). The Securities actually placed by the Placement Agent are referred to herein as the “Placement Agent Securities.” The terms of the Placement shall be mutually agreed upon by the Company and the purchasers (each, a “Purchaser” and collectively, the “Purchasers”), and nothing herein constitutes that the Placement Agent would have the power or authority to bind the Company or any Purchaser, or an obligation for the Company will issue any Securities or complete the Placement. The Company expressly acknowledges and agrees that the Placement Agent’s obligations hereunder are on a reasonable best efforts basis only and that the execution of this Agreement does not constitute a commitment by the Placement Agent to purchase the Securities and does not ensure the successful placement of the Securities or any portion thereof or the success of the Placement Agent with respect to securing any other financing on behalf of the Company. Upon the written consent of the Company, the Placement Agent may retain other brokers or dealers to act as sub-agents or selected-dealers on its behalf in connection with the Placement. Certain affiliates of the Placement Agent may participate in the Placement by purchasing some of the Placement Agent Securities. The sale of Placement Agent Securities to any Purchaser will be evidenced by a securities purchase agreement (the “Purchase Agreement”) between the Company and such Purchaser, in a form reasonably acceptable to the Company and the Purchaser. Capitalized terms that are not otherwise defined herein have the meanings given to such terms in the Purchase Agreement. Prior to the signing of any Purchase Agreement, officers of the Company will be available to answer inquiries from prospective Purchasers.
  
 SECTION 1. REPRESENTATIONS AND WARRANTIES OF THE COMPANY; COVENANTS OF THE COMPANY.
  
 A. Representations of the Company. With respect to the Placement Agent Securities and the shares of Common Stock underlying the Placement Agent’s Warrant (as defined below), each of the representations and warranties (together with any related disclosure schedules thereto) and covenants made by the Company to the Purchasers in the Purchase Agreement in connection with the Placement, is hereby incorporated herein by reference into this Agreement (as though fully restated herein) and is, as of the date of this Agreement and as of the Closing Date, hereby made to, and in favor of, the Placement Agent. In addition to the foregoing, the Company represents and warrants that there are no affiliations with any FINRA member firm among the Company’s officers, directors or, to the knowledge of the Company, any five percent (5.0%) or greater securityholder of the Company, except as set forth in the Purchase Agreement.
  
 	 
	
	

	 

  
 B. Covenants of the Company. The Company covenants and agrees to continue to retain (i) a firm of independent PCAOB registered public accountants for a period of at least five (5) years after the Closing Date and (ii) a competent transfer agent with respect to the Common Stock for a period of five (5) years after the Closing Date. In addition, from the date hereof until 90 days after the Closing Date, neither the Company nor any Subsidiary shall issue, enter into any agreement to issue or announce the issuance or proposed issuance of any shares of Common Stock or Common Stock Equivalents, except that such restriction shall not apply with respect to an Exempt Issuance.
  
 SECTION 2. REPRESENTATIONS OF THE PLACEMENT AGENT. The Placement Agent represents and warrants that it (i) is a member in good standing of FINRA, (ii) is registered as a broker/dealer under the Exchange Act, (iii) is licensed as a broker/dealer under the laws of the United States of America, applicable to the offers and sales of the Placement Agent Securities by the Placement Agent, (iv) is and will be a corporate body validly existing under the laws of its place of incorporation, (v) has full power and authority to enter into and perform its obligations under this Agreement. The Placement Agent will immediately notify the Company in writing of any change in its status with respect to subsections (i) through (v) above. The Placement Agent covenants that it will use its reasonable best efforts to conduct the Placement hereunder in compliance with the provisions of this Agreement and the requirements of applicable law.
  
 SECTION 3. COMPENSATION.
  
 A. In consideration of the services to be provided for hereunder, the Company shall pay to the Placement Agent and/or its respective designees a cash fee of 7% of the aggregate gross proceeds raised from the sale of the Placement Agent Securities (the “Cash Fee”) and a cash fee of 1% of the aggregate gross proceeds raised from the sale of the Placement Agent Securities for non-accountable expenses (the “NAE Expenses”). The Cash Fee and the NAE Expenses shall be paid on the Closing Date. The Company shall not be required to pay the Placement Agent any fees or expenses except for the Cash Fee, the NAE Expenses and the reimbursement of up to $35,000 in legal expenses, provided, however, that this sentence in no way limits or impairs the indemnification or contribution provisions contained herein. The Placement Agent reserves the right to reduce any item of compensation or adjust the terms thereof as specified herein in the event that a determination shall be made by FINRA to the effect that the Placement Agent’s aggregate compensation is in excess of FINRA Rules or that the terms thereof require adjustment.
  
 B The Company further agrees to issue to the Placement Agent (and/or its designees) on the Closing Date, one warrant to purchase such number of Common Stock equal to five percent (5%) of the shares of Common Stock issued at the Closing (the “Placement Agent’s Warrant”). The Placement Agent’s Warrant shall be exercisable, in whole or in part, commencing on the date of issuance and for a period of five years beginning on the Effective Date (as defined in the Purchase Agreement), and will terminate on the fifth anniversary of the Effective Date. The exercise price of the Placement Agent’s Warrant is equal to the greater of: one hundred and twenty-five percent (125%) of Per Share Purchase Price and “market value” as determined in accordance with the continued listing requirements of the NASDAQ Capital Market. The Placement Agent’s Warrant and the shares of Common Stock issuable upon exercise of the Placement Agent’s Warrant (collectively “Compensation Securities”) will be deemed compensation by FINRA, and therefore will be subject to FINRA Rule 5110(e)(1). In accordance with FINRA Rule 5110(e)(1), neither the Placement Agent’s Warrant nor any of the shares of Common Stock issued upon exercise of the Placement Agent’s Warrant may be sold, transferred, assigned, pledged or hypothecated, or be the subject of any hedging, short sale, derivative, put or call transaction that would result in the effective economic disposition of such securities by any person, for a period of 180 days beginning on the date of commencement of sales of the public equity offering, unless such securities may be disposed of pursuant to an exemption to FINRA Rule 5110(e)(1) as set forth in FINRA Rule 5110(e)(2).
  
 	 
	
	

	 

  
 SECTION 4. INDEMNIFICATION.
  
 A. To the extent permitted by law, with respect to the Placement Agent Securities, the Company will indemnify the Placement Agent and its affiliates, stockholders, directors, officers, employees, members and controlling persons (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) against all losses, claims, damages, expenses and liabilities, as the same are incurred (including the reasonable fees and expenses of counsel), relating to or arising out of its activities hereunder or pursuant to this Agreement, except to the extent that any losses, claims, damages, expenses or liabilities (or actions in respect thereof) are found in a final judgment (not subject to appeal) by a court of law to have resulted primarily and directly from the Placement Agent’s willful misconduct or gross negligence in performing the services described herein.
  
 B. Promptly after receipt by the Placement Agent of notice of any claim or the commencement of any action or proceeding with respect to which the Placement Agent is entitled to indemnity hereunder, the Placement Agent will notify the Company in writing of such claim or of the commencement of such action or proceeding, but failure to so notify the Company shall not relieve the Company from any obligation it may have hereunder, except and only to the extent such failureresults in the forfeiture by the Company of substantial rights and defenses. If the Company so elects or is requested by the Placement Agent, the Company will assume the defense of such action or proceeding and will employ counsel reasonably satisfactory to the Placement Agent and will pay the fees and expenses of such counsel. Notwithstanding the preceding sentence, the Placement Agent will be entitled to employ counsel separate from counsel for the Company and from any other party in such action if counsel for the Placement Agent reasonably determines that it would be inappropriate under the applicable rules of professional responsibility for the same counsel to represent both the Company and the Placement Agent. In such event, the reasonable fees and disbursements of no more than one such separate counsel will be paid by the Company, in addition to fees of local counsel. The Company will have the right to settle the claim or proceeding provided that the Company will not settle any such claim, action or proceeding without the prior written consent of the Placement Agent, which will not be unreasonably withheld. The Company shall not be liable for any settlement of any action effected without its written consent, which will not be unreasonably withheld.
  
 C. The Company agrees to notify the Placement Agent promptly of the assertion against it or any other person of any claim or the commencement of any action or proceeding relating to a transaction contemplated by this Agreement.
  
 D. If for any reason the foregoing indemnity is unavailable to the Placement Agent or insufficient to hold the Placement Agent harmless, then the Company shall contribute to the amount paid or payable by the Placement Agent as a result of such losses, claims, damages or liabilities in such proportion as is appropriate to reflect not only the relative benefits received by the Company on the one hand and the Placement Agent on the other, but also the relative fault of the Company on the one hand and the Placement Agent on the other that resulted in such losses, claims, damages or liabilities, as well as any relevant equitable considerations. The amounts paid or payable by a party in respect of losses, claims, damages and liabilities referred to above shall be deemed to include any legal or other fees and expenses incurred in defending any litigation, proceeding or other action or claim. Notwithstanding the provisions hereof, the Placement Agent’s share of the liability hereunder shall not be in excess of the amount of fees actually received, or to be received, by the Placement Agent under this Agreement (excluding any amounts received as reimbursement of expenses incurred by the Placement Agent).
  
 	 
	
	

	 

  
 E. These indemnification provisions shall remain in full force and effect whether or not the transaction contemplated by this Agreement is completed and shall survive the termination of this Agreement, and shall be in addition to any liability that the Company might otherwise have to any indemnified party under this Agreement or otherwise.
  
 SECTION 5. ENGAGEMENT TERM. The Placement Agent’s engagement hereunder will be until the earlier of (i) March 25, 2022 and (ii) the Closing Date. The date of termination of this Agreement is referred to herein as the “Termination Date.” In the event, however, in the course of the Placement Agent’s performance of due diligence it deems it necessary to terminate the engagement, the Placement Agent may do so prior to the Termination Date. The Company may elect to terminate the engagement hereunder for any reason prior to the Termination Date but will remain responsible for fees and expenses pursuant to Section 3 hereof and fees with respect to the Placement Agent Securities if sold in the Placement. Notwithstanding anything to the contrary contained herein, the provisions concerning the Company’s obligation to pay any fees actually earned pursuant to Section 3 hereof, to pay expenses pursuant to Section 3 hereof, and the provisions concerning confidentiality, indemnification and contribution contained herein will survive any expiration or termination of this Agreement. If this Agreement is terminated prior to the completion of the Placement, all fees and expenses due to the Placement Agent shall be paid by the Company to the Placement Agent on or before the Termination Date (in the event such fees are earned or owed as of the Termination Date). The Placement Agent agrees not to use any confidential information concerning the Company provided to the Placement Agent by the Company for any purposes other than those contemplated under this Agreement.
  
 SECTION 6. PLACEMENT AGENT INFORMATION. The Company agrees that any information or advice rendered by the Placement Agent in connection with this engagement is for the confidential use of the Company only in their evaluation of the Placement and, except as otherwise required by law, the Company will not disclose or otherwise refer to the advice or information in any manner without the Placement Agent’s prior written consent.
  
 SECTION 7. NO FIDUCIARY RELATIONSHIP. This Agreement does not create, and shall not be construed as creating rights enforceable by any person or entity not a party hereto, except those entitled hereto by virtue of the indemnification provisions hereof. The Company acknowledges and agrees that the Placement Agent is not and shall not be construed as a fiduciary of the Company and shall have no duties or liabilities to the equity holders or the creditors of the Company or any other person by virtue of this Agreement or the retention of the Placement Agent hereunder, all of which are hereby expressly waived.
  
 SECTION 8. CLOSING. The obligations of the Placement Agent, and the closing of the sale of the Placement Agent Securities hereunder are subject to the accuracy, when made and on the Closing Date, of the representations and warranties on the part of the Company contained herein and in the Purchase Agreement, to the performance by the Company of its obligations hereunder and in the Purchase Agreement, and to each of the following additional terms and conditions, except as otherwise disclosed to and acknowledged and waived by the Placement Agent:
  
 A. All corporate proceedings and other legal matters incident to the authorization, form, execution, delivery and validity of each of this Agreement, the Placement Agent Securities and Compensation Securities, and all other legal matters relating to this Agreement and the transactions contemplated hereby with respect to the Placement Agent Securities and Compensation Securities shall be reasonably satisfactory in all material respects to the Placement Agent.
  
 	 
	
	

	 

  
 B. The Placement Agent shall have received from outside U.S. counsel to the Company each such counsel’s written opinion with respect to the Placement Agent Securities, and Compensation Securities, addressed to the Placement Agent and each Purchaser and dated as of the Closing Date, in form and substance reasonably satisfactory to the Placement Agent.
  
 C. The Placement Agent shall have received customary certificates of the Company’s executive officers, as to the accuracy of the representations and warranties contained in the Purchase Agreement, and a certificate of the Company’s secretary certifying that the Company’s charter documents are true and complete, have not been modified and are in full force and effect; (ii) that the resolutions of the Company’s Board of Directors relating to the Placement are in full force and effect and have not been modified; and (iii) as to the incumbency of the officers of the Company.
  
 D. The Placement Agent shall have received an executed FINRA questionnaire from each of the Company and the Company’s executive officers, directors and 5% or greater securityholders.
  
 E. The Common Stock shall be registered under the Exchange Act and, as of the Closing Date, shall be listed and admitted and authorized for trading on the Trading Market or other applicable U.S. national exchange and satisfactory evidence of such action shall have been provided to the Placement Agent. The Company shall have taken no action designed to, or likely to have the effect of terminating the registration of the Common Stock under the Exchange Act or delisting or suspending from trading the Common Stock from the Trading Market or other applicable U.S. national exchange, nor has the Company received any information suggesting that the Commission or the Trading Market or other U.S. applicable national exchange is contemplating terminating such registration or listing.
  
 F. No action shall have been taken and no statute, rule, regulation or order shall have been enacted, adopted or issued by any governmental agency or body which would, as of the Closing Date, prevent the issuance or sale of the Placement Agent Securities and the Compensation Securities, or materially and adversely affect or potentially and adversely affect the business or operations of the Company; and no injunction, restraining order or order of any other nature by any federal or state court of competent jurisdiction shall have been issued as of the Closing Date which would prevent the issuance or sale of the Placement Agent Securities or materially and adversely affect or potentially and adversely affect the business or operations of the Company.
  
 G. The Company shall have entered into a Purchase Agreement with each of the Purchasers of the Placement Agent Securities and such agreements shall be in full force and effect and shall contain representations, warranties and covenants of the Company as agreed upon between the Company and the Purchasers.
  
 H. FINRA shall have raised no objection to the fairness and reasonableness of the terms and arrangements of this Agreement. In addition, the Company shall, if requested by the Placement Agent, make or authorize Placement Agent’s counsel to make on the Company’s behalf, any filing with the FINRA Corporate Financing Department pursuant to FINRA Rule 2710 with respect to the Placement and pay all filing fees required in connection therewith.
  
 I. The Placement Agent shall have received an executed lock-up agreement from each of the Company’s executive officers and directors.
  
 If any of the conditions specified in this Section 8 shall not have been fulfilled when and as required by this Agreement, all obligations of the Placement Agent hereunder may be cancelled by the Placement Agent at, or at any time prior to, the Closing Date. Notice of such cancellation shall be given to the Company in writing or orally. Any such oral notice shall be confirmed promptly thereafter in writing.
  
 	 
	
	

	 

  
 SECTION 9. GOVERNING LAW. This Agreement will be governed by, and construed in accordance with, the laws of the State of New York applicable to agreements made and to be performed entirely in such State. This Agreement may not be assigned by either party without the prior written consent of the other party. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective successors and permitted assigns. Any right to trial by jury with respect to any dispute arising under this Agreement or any transaction or conduct in connection herewith is waived. Any dispute arising under this Agreement may be brought into the courts of the State of New York or into the Federal Court located in New York, New York and, by execution and delivery of this Agreement, the Company hereby accepts for itself and in respect of its property, generally and unconditionally, the jurisdiction of aforesaid courts. Each party hereto hereby irrevocably waives personal service of process and consents to process being served in any such suit, action or proceeding by delivering a copy thereof via overnight delivery (with evidence of delivery) to such party at the address in effect for notices to it under this Agreement and agrees that such service shall constitute good and sufficient service of process and notice thereof. Nothing contained herein shall be deemed to limit in any way any right to serve process in any manner permitted by law. If either party shall commence an action or proceeding to enforce any provisions of this Agreement, then the prevailing party in such action or proceeding shall be reimbursed by the other party for its attorney’s fees and other costs and expenses incurred with the investigation, preparation and prosecution of such action or proceeding.
  
 SECTION 10. ENTIRE AGREEMENT/MISCELLANEOUS. This Agreement embodies the entire agreement and understanding between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof. If any provision of this Agreement is determined to be invalid or unenforceable in any respect, such determination will not affect such provision in any other respect or any other provision of this Agreement, which will remain in full force and effect. This Agreement may not be amended or otherwise modified or waived except by an instrument in writing signed by both the Placement Agent and the Company. The representations, warranties, agreements and covenants contained herein shall survive the Closing Date of the Placement and delivery of the Placement Agent Securities and Compensation Securities. This Agreement may be executed in two or more counterparts, all of which when taken together shall be considered one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other party, it being understood that both parties need not sign the same counterpart. In the event that any signature is delivered by facsimile transmission or a .pdf format file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature is executed) with the same force and effect as if such facsimile or .pdf signature page were an original thereof.
  
 SECTION 11. NOTICES. Any and all notices or other communications or deliveries required or permitted to be provided hereunder shall be in writing and shall be deemed given and effective on the earliest of (a) the date of transmission, if such notice or communication is sent to the email address specified on the signature pages attached hereto prior to 6:30 p.m. (New York City time) on a business day, (b) the next business day after the date of transmission, if such notice or communication is sent to the email address on the signature pages attached hereto on a day that is not a business day or later than 6:30 p.m. (New York City time) on any business day, (c) the third business day following the date of mailing, if sent by U.S. internationally recognized air courier service, or (d) upon actual receipt by the party to whom such notice is required to be given. The address for such notices and communications shall be as set forth on the signature pages hereto.
  
 SECTION 12. Press Announcements. The Company agrees that the Placement Agent shall, on and after the Closing Date, have the right to reference the Placement and the Placement Agent’s role in connection therewith in the Placement Agent’s marketing materials and on its website and to place advertisements in financial and other newspapers and journals, in each case at its own expense.
  
 [The remainder of this page has been intentionally left blank.]
  
 	 
	
	

	 

  
 Please confirm that the foregoing correctly sets forth our agreement by signing and returning to the Placement Agent the enclosed copy of this Agreement.
  
 	 
	 Very truly yours,
	  

	  
	  
	  

	 
	 A.G.P./ALLIANCE GLOBAL PARTNERS
	  

	 
	 
	  

	 
	 
	  

	 
	 By: 
	 /s/ Tom Higgins
	  

	 
	 
	 Name: Tom Higgins 
	  

	 
	 
	 Title: Managing Director 
	  

	 
	 
	  

	 
		 Address for notice:
	  

	 
		 590 Madison Avenue 36th Floor
 New York, New York 10022
 Attn: Thomas Higgins
 Email: thiggins@allianceg.com 
	  

  
 Accepted and Agreed to as of
 the date first written above:
  
 	 NYMOX PHARMACEUTICAL CORPORATION

	  
	
	 By: 
	 /s/ Randall J. Lanham
	  

	  
	 Name: Randall J. Lanham
	  

	  
	 Title: COO, Secretary and Director
	  

	  
	  
	  

	  
	 Address for notice:
 Nymox Pharmaceutical Corporation
 Bay & Deveaux Streets
 Nassau, the Bahamas 
 Attn: Erik Danielsen, Chief Financial Officer
	  

  
  
 [Signature Page to Placement Agent Agreement.]Exhibit 10.20
​
​
	​

	​

	

	GLOBAL BUSINESS TRAVEL

​
​
April 1, 2019
Michael Qualantone
[ADDRESS REDACTED]
Dear Michael:
While conducting a review of executive employment agreements, we discovered your agreement is not on file. A signed agreement is an important document which provides clarity of the terms and conditions of your employment with American Express Global Business Travel. Please review this document and return a signed copy to me at your convenience.
qThe position
Your position is EVP/GM Global Supplier Relations, reporting to me, and you will continue to be a member of the Executive Leadership Team.
qCompensation
Your compensation for this position consists of a bi-weekly salary of $21,153.85 less taxes and applicable withholdings, which equates to an annualized salary of $550,000.00. This position is exempt from overtime eligibility.
qPay Period and Pay Days
GBT has a biweekly pay cycle with pay dates occurring on every other Friday on a one week lag.
qManagement Bonus Plan
You remain eligible to participate in GBT's Management Bonus Plan as in effect from time to time. The full-year bonus target for your position is 100% of your base salary and the bonus amount may be as high as 200% of your base salary. The actual amount of your award is based on individual contribution and organizational performance. Annual awards are paid in the March that follows the year in which the bonus is earned (e.g., your bonus for 2019 will be paid in March 2020). Payment of an annual award is contingent upon your continuous employment in good standing through the payment date and other terms and conditions of the Management Bonus Plan.
​
​

Michael Qualantone
April 1, 2019
Page 2
qBenefits
You continue to be eligible to participate in GBT's core and voluntary benefit plans, including, but not limited to Medical, Dental and Vision coverage, Flexible Spending Accounts for Medical and Dependent Care expenses, Basic Life Insurance, and Short and Long Term Disability.
q401k
You continue to be eligible to participate in the GBT 401(k) Plan.
qPaid Time Off Eligibility
Executives at GBT do not have a set vacation allowance or accrual. This greater flexibility to schedule your time off assumes you will responsibly balance your professional obligations in conjunction with your time off. You continue to be eligible for other Paid Time Off (Sick, Disability and Holiday), in accordance with the Company policies as applicable to similarly situated employees.
qSeverance Eligibility
If GBT terminates your employment other than for "Cause" as defined below, or if you resign employment for "Good Reason" as defined below, then, provided you sign an agreement and release of claims in favor of GBT and its affiliates, you will be eligible for the following severance benefits, subject to any applicable taxes and per the GBT elected payment schedule:
		·
	Continued salary for 52 weeks, based upon the salary that is effective at the time of the termination of your employment;

		·
	Provided you elect COBRA benefits, the Company will subsidize your healthcare premium costs for 52 weeks such that you will pay no more than if you remained employed;

		·
	Pro-rated annual bonus, based on performance and paid at the targeted amount of the then annual salary;

		·
	Continued vesting in the MIP for up to six months following the termination date, in accordance with the plan provisions;

You will not be eligible for the foregoing benefits if your employment is terminated for "Cause," or due to your death or disability, or if you terminate employment without "Good Reason."
​
​

Michael Qualantone
April 1, 2019
Page 3
For the purpose of this agreement, "Cause" shall mean: (i) willful and continued failure to adequately perform substantially all of your duties; (ii) your failure to devote substantially all of your business time exclusively to the performance of your duties for GBT (subject to the ability to engage in activities in accordance with applicable policies); (iii) willful misconduct; (iv) unlawful use of a controlled substance; (v) conviction of, or entry of a plea of guilty or no contest to, any felony or any crime involving dishonesty, theft, moral turpitude, breach of trust or breach of a fiduciary duty or their equivalent under local law; (vi) engagement in an act or omission that is detrimental to the business or reputational interests of GBT, including but not limited to an act of fraud, embezzlement, theft or dishonesty, whether in the past or future (including any such acts occurring prior to the commencement of employment); (vii) habitual or gross negligence in the performance of your duties; (viii) material or repeated violation of any policy or practice adopted by GBT or one of its affiliates applicable to you, including but not limited to any applicable code of conduct; or (ix) violation of any GBT detrimental conduct provision.
For purposes of this letter, "Good Reason" shall mean any of the following occurring without your written consent: (i) a material reduction by GBT of your annual base salary (other than pursuant to an across the board reduction similarly affecting other senior executives within GBT); (H) a material reduction by GBT of your job responsibilities and title; (Hi) a willful failure by GBT to pay compensation that is due and owing. Notwithstanding the foregoing, Good Reason shall not exist unless within 30 days of the occurrence claimed to constitute Good Reason you have provided GBT with written notice setting forth in reasonable detail the facts and circumstances claimed to constitute Good Reason, and affording GBT 30 days in which to cure the alleged occurrence.
qCompliance with Policies
In the course of your continued employment, you will be expected to acknowledge and comply with the GBT Code of Conduct and such other policies as GBT may adopt and issue from time to time. It is your responsibility to read and understand these policies and, if you have any questions now or in the future, it is your responsibility to make the appropriate inquiries.
qEmployment At Will, Entire Agreement and No Conflicts
This letter is not intended nor should it be considered as an employment contract for a definite or indefinite period of time. Employment with GBT is at will, and either you or the Company may terminate employment at any time, for any reason, with or without cause or notice. In addition, by signing this letter, you acknowledge that this letter, along with the GBT employment documents you have signed, including your employment application, the Arbitration Policy, and the Management Incentive Plan, set
​

Michael Qualantone
April 1, 2019
Page 4
forth the entire agreement regarding employment between you and the Company, and fully supersedes any other prior agreements or understandings, whether written or oral.
qAcceptance of Employment Terms
Thank you for the contributions you have made to our business. Please indicate your acceptance of these terms by signing the enclosed copy and returning it to my attention.
	​

	​

	​

	​

	​
	Yours truly,

	​
	​

	​
	Douglas Anderson

	​
	​

	Agreed and Accepted
	​

	​
	​

	/s/ Michael Qualantone
	​
	​

	​
	​

	Date:
	8/19/2019
	​
	​

​

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00342-of-00352.parquet"}]]