Document:

glt-ex1024_740.htm

Exhibit 10.24

SCHEDULE OF CHANGE IN CONTROL EMPLOYMENT AGREEMENTS 

In accordance with the Instructions to Item 601 of Regulation S-K, the Registrant has omitted filing Change in Control Employment Agreements by and between P. H. Glatfelter Company and the following employees as exhibits to the Form 10-K for the year ended December 31, 2019 because they are substantially identical to the Form of Change in Control Employment Agreement by and between P. H. Glatfelter Company and certain employees, which is filed as Exhibit 10(r) to the Form 10-K for the year ended December 31, 2013. 

Christopher W. Astley

Eileen L. Beck

David C. Elder

Samuel L. Hillard

Wolfgang Laures

Dante C. Parrini

Philippe Sevoz

Jill L. Urey

Joseph J. Zakutneyglt-ex1025_1282.htm

Exhibit 10.25

 

P. H. Glatfelter Company

 

Summary of Non-Employee Director Compensation
(effective January 1, 2020)

	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Type (year of service May 1 to April 30)
	
 
	
Form
	
 
	
Frequency
	
 
	
Amount

	
Board retainer (1)
	
 
	
Cash
	
 
	
Annually
	
 
	
$
	
  70,000
	
 

	
Lead Director retainer (1)
	
 
	
Cash
	
 
	
Annually
	
 
	
 
	
  20,000
	
 

	
Committee Chair retainers (1)
	
 
	
 
	
 
	
 
	
 
	
 
	
 
	
 

	
Audit
	
 
	
Cash
	
 
	
Annually
	
 
	
 
	
  20,000
	
 

	
Compensation
	
 
	
Cash
	
 
	
Annually
	
 
	
 
	
  15,000
	
 

	
Nominating & Corporate Governance
	
 
	
Cash
	
 
	
Annually
	
 
	
 
	
  10,000
	
 

	
Committee meetings (2)
	
 
	
Cash
	
 
	
Per meeting
	
 
	
 
	
    1,500
	
 

	
Restricted Stock Units (3)
	
 
	
Equity
	
 
	
Annually
	
 
	
 
	
115,000
	
 

 

	
 
	
(1)
	
 
	
Paid semi-annually in advance on May 1 and November 1, for year of service from May 1 to April 30.

 

	
 
	
(2)
	
 
	
Paid in arrears for committee meetings in excess of eight held during year of service from May 1 to April 30.

	
 
	
 
	
 
	
 

	
 
	
(3)
	
 
	
Restricted stock units valued at $115,000 on grant date with 100% vesting (and pay out as Common Stock) on first anniversary of the date of grant, or earlier upon a change of control or death or disability of director.  Dividend equivalents accrue during vesting year in the form of additional restricted stock units paid upon vesting.

 

DB1/ 112546644.1Exhibit

DESCRIPTION OF COMMON STOCK
The following summary description of the common stock of Mirati Therapeutics, Inc. (“we”, “our” or “us”) is based on the provisions of our amended and restated certificate of incorporation, as well as our bylaws, as amended, and the applicable provisions of the Delaware General Corporation Law. This information is qualified entirely by reference to the applicable provisions of our amended and restated certificate of incorporation, our bylaws, as amended, and the Delaware General Corporation Law. Our amended and restated certificate of incorporation and bylaws, as amended, have previously been filed as exhibits with the Securities and Exchange Commission.
Each holder of common stock is entitled to one vote for each share of common stock held on all matters submitted to a vote of the stockholders, including the election of directors. Our amended and restated certificate of incorporation and bylaws, as amended, do not provide for cumulative voting rights. Other than as described below, holders of our common stock have no preemptive, conversion or subscription rights, and there are no redemption or sinking fund provisions applicable to the common stock. Subject to preferences that may be applicable to any then-outstanding preferred stock, the holders of common stock are entitled to receive dividends, if any, as may be declared from time to time by our board of directors out of legally available funds.  The rights, preferences and privileges of the holders of common stock are subject to, and may be adversely affected by, the rights of the holders of shares of any series of our preferred stock that are outstanding or that we may designate and issue in the future. All of our outstanding shares of common stock are fully paid and nonassessable.
Anti-takeover Effects of Provisions of Delaware Law and Charter Documents
Our amended and restated certificate of incorporation and bylaws, as amended, contain provisions that might have an anti-takeover effect. These provisions, which are summarized below, may have the effect of delaying, deterring or preventing a change in control of our company. They could also impede a transaction in which our stockholders might receive a premium over the then-current market price of our common stock and our stockholders’ ability to approve transactions that they consider to be in their best interests.
Our amended and restated certificate of incorporation permits our board of directors to issue preferred stock. We could authorize the issuance of a series of preferred stock which would grant to holders preferred rights to our assets upon liquidation, the right to receive dividend coupons before dividends would be declared to holders of shares of our existing preferred stock and our existing preferred stock and common stock. Our current stockholders have no redemption rights. In addition, as we have a large number of authorized but unissued shares, our board of directors could issue large blocks of voting stock to fend off unwanted tender offers or hostile takeovers without further stockholder approval. We are subject to Section 203 of the Delaware General Corporation Law. In general, Section 203, subject to specific exceptions, prohibits a publicly held Delaware corporation from engaging in any “business combination” with any “interested stockholder” for a period of three years following the date that the stockholder became an interested stockholder, unless:
		
	•
	prior to that date, the board of directors approved either the business combination or the transaction that resulted in the stockholder becoming an interested stockholder;

		
	•
	upon consummation of the transaction that resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85 percent of the voting stock of the corporation outstanding at the time the transaction commenced, excluding for purposes of determining the number of shares outstanding those shares owned by directors, officers and specific employee stock plans; or

		
	•
	on or after that date, the business combination is approved by the board of directors and authorized at an annual or special meeting of stockholders, and not by written consent, by the affirmative vote of the holders of at least 662/3 percent of the outstanding voting stock that is not owned by the interested stockholder.

 
 Section 203 defines “business combination” to include:

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

		
	•
	any sale, lease, exchange, mortgage, transfer, pledge or other disposition of 10 percent or more of the assets of the corporation involving the interested stockholder;

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

		
	•
	any transaction involving the corporation that has the effect of increasing the proportionate share of the corporation’s stock of any class or series beneficially owned by the interested stockholder; and

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

 In general, an “interested stockholder” is an entity or individual who, together with affiliates and associates, owns, or within three years prior to the determination of the “interested stockholder” status owned, 15 percent or more of a corporation’s outstanding voting stock. The provisions of Section 203 could encourage companies interested in acquiring us to negotiate in advance with our board of directors since the stockholder approval requirement would be avoided if our board of directors approves either the business combination or the transaction that results in the stockholder becoming an interested stockholder. These provisions also could have the effect of preventing changes in our management or could make it more difficult to accomplish transactions that stockholders may otherwise deem to be in their best interests.
Transfer Agent and Registrar
The transfer agent and registrar for our common stock is Computershare Trust Company, N.A. The transfer agent and registrar’s address is 250 Royall Street, Canton, MA, 02021. 
Listing on The Nasdaq Global Select Market
Our common stock is listed on The Nasdaq Global Select Market under the symbol “MRTX.”Exhibit

Exhibit 10.16
 
MIRATI THERAPEUTICS, INC.  
AMENDED AND RESTATED NON-EMPLOYEE DIRECTOR COMPENSATION POLICY
ADOPTED: SEPTEMBER 9, 2014
EFFECTIVE DATE: SEPTEMBER 9, 2014
AMENDED AND RESTATED: DECEMBER 9, 2015
AMENDED AND RESTATED: MARCH 30, 2017
AMENDED AND RESTATED: JANUARY 18, 2018
AMENDED AND RESTATED: JANUARY 17, 2019
AMENDED AND RESTATED: DECEMBER 12, 2019
 
Each member of the Board of Directors (the “Board”) who is not also serving as an employee of Mirati Therapeutics, Inc. (“Mirati”) or any of its subsidiaries (each such member, an “Eligible Director”) will receive the compensation described in this Non-Employee Director Compensation Policy (the “Director Compensation Policy”) for his or her Board service. 
 
The Director Compensation Policy may be amended at any time in the sole discretion of the Board or the Compensation Committee of the Board.
 
Annual Cash Compensation
 
The annual cash compensation amount set forth below is payable in equal quarterly installments, payable in arrears on the last day of each fiscal quarter in which the service occurred. If an Eligible Director joins the Board or a committee of the Board (“Committee”) at a time other than effective as of the first day of a fiscal quarter, each annual retainer set forth below will be pro-rated based on days served in the applicable fiscal year, with the pro-rated amount paid for the first fiscal quarter in which the Eligible Director provides the service, and regular full quarterly payments thereafter. All annual cash retainer fees are vested upon payment. 
 
1. Annual Board Service Retainer:
a. Eligible Directors other than the Chairman: $40,000 
b. Chairman: $75,000
 
2. Annual Committee Chair Service Retainer:
a. Chairman of the Audit Committee: $20,000 
b. Chairman of the Compensation Committee: $15,000 
c. Chairman of the Nominating & Corporate Governance Committee: $10,000
d. Chairman of the Research and Development Committee: $15,000 
 

3. Annual Committee Member Service Retainer:
a. Member of the Audit Committee: $10,000 
b. Member of the Compensation Committee: $7,500 
c. Member of the Nominating & Corporate Governance Committee: $5,000
d. Member of the Research and Development Committee: $7,500 
 
 
Equity Compensation
 
The equity compensation set forth below will be granted under the Mirati Therapeutics, Inc. 2013 Equity Incentive Plan (the “Plan”), and will be documented on the applicable form of equity award agreement most recently approved for use by the Board (or a duly authorized committee thereof) for Eligible Directors. All stock options granted under the Director Compensation Policy will be nonstatutory stock options, with an exercise price per share equal to 100% of the Fair Market Value (as defined in the Plan) of the underlying Common Stock on the date of grant, and a term of ten years from the date of grant (subject to earlier termination in connection with a termination of service as provided in the Plan). 
 
1. Initial Grant: On the date of the Eligible Director’s initial election to the Board (or, if such date is not a market trading day, the first market trading day thereafter), the Eligible Director automatically will be granted, without further action by the Board or Compensation Committee of the Board, (i) a stock option to purchase 8,000 shares of Common Stock (subject to Section 9(a) of the Plan relating to Capitalization Adjustments (as defined in the Plan) after the adoption date of the Director Compensation Policy) (the “Initial Option Grant”) and (ii) 4,000 restricted stock units (subject to Section 9(a) of the Plan relating to Capitalization Adjustments (as defined in the Plan) after the adoption date of the Director Compensation Policy) (the “Initial RSU Grant”). The Initial Option Grant will vest in a series of thirty-six (36) substantially equal monthly installments after the date of grant, such that the Initial Option Grant will be fully vested on the third anniversary of the date of grant, subject to the Eligible Director’s Continuous Service (as defined in the Plan) on each applicable vesting date. The Initial RSU Grant will vest in a series of three (3) substantially equal annual installments after the date of grant, such that the Initial RSU Grant will be fully vested on the third anniversary of the date of grant, subject to the Eligible Director’s Continuous Service (as defined in the Plan) on each applicable vesting date.  In addition, in the event of a Change in Control or a Corporate Transaction (each, as defined in the Plan), any unvested portion of the Initial Option Grant and Initial RSU Grant will fully vest and become exercisable as of immediately prior to the effective time of such Change in Control or Corporate Transaction, subject to the Eligible Director’s Continuous Service (as defined in the Plan) on the effective date of such transaction. 
 
2. Annual Grant: 
 
a. Each fiscal year, on the earlier to occur of (i) the grant date of annual equity awards to the Company’s executive officers or (ii) the date of the Mirati annual stockholder meeting, each Eligible 

Director, other than the Chairman, automatically, and without further action by the Board or Compensation Committee of the Board, will be granted (a) a stock option to purchase 4,000 shares of Common Stock (subject to Section 9(a) of the Plan relating to Capitalization Adjustments after the adoption date of the Director Compensation Policy) (the “Director Annual Option Grant”) and (b) 2,000 restricted stock units (subject to Section 9(a) of the Plan relating to Capitalization Adjustments (as defined in the Plan) after the adoption date of the Director Compensation Policy) (the “Director Annual RSU Grant”). The Director Annual Option Grant will vest in twelve (12) substantially equal monthly installments after the date of grant, such that the Director Annual Option Grant will be fully vested on the first anniversary of the date of grant, subject to the Eligible Director’s Continuous Service (as defined in the Plan) on each applicable vesting date. The Director Annual RSU Grant will vest in full on the first anniversary of the date of grant, subject to the Eligible Director’s Continuous Service (as defined in the Plan) on such vesting date. In addition, in the event of a Change in Control or a Corporate Transaction (each, as defined in the Plan), any unvested portion of the Director Annual Option Grant and Director Annual RSU Grant will fully vest and become exercisable as of immediately prior to the effective time of such Change in Control or Corporate Transaction, subject to the Eligible Director’s Continuous Service (as defined in the Plan) on the effective date of such transaction.
 
b. Each fiscal year, on the earlier to occur of (i) the grant date of annual equity awards to the Company’s executive officers or (ii) the date of the Mirati annual stockholder meeting, the Chairman automatically, and without further action by the Board or Compensation Committee of the Board, will be granted (a) a stock option to purchase 6,000 shares of Common Stock (subject to Section 9(a) of the Plan relating to Capitalization Adjustments after the adoption date of the Director Compensation Policy) (the “Chairman Annual Option Grant”) and (b) 3,000 restricted stock units (subject to Section 9(a) of the Plan relating to Capitalization Adjustments (as defined in the Plan) after the adoption date of the Director Compensation Policy) (the “Chairman Annual RSU Grant”). The Chairman Annual Option Grant will vest in twelve (12) substantially equal monthly installments after the date of grant, such that the Chairman Annual Option Grant will be fully vested on the first anniversary of the date of grant, subject to the Chairman’s Continuous Service (as defined in the Plan) on each applicable vesting date. The Chairman Annual RSU Grant will vest in full on the first anniversary of the date of grant, subject to the Eligible Director’s Continuous Service (as defined in the Plan) on such vesting date. In addition, in the event of a Change in Control or a Corporate Transaction (each, as defined in the Plan), any unvested portion of the Chairman Annual Option Grant and Chairman Annual RSU Grant will fully vest and become exercisable as of immediately prior to the effective time of such Change in Control or Corporate Transaction, subject to the Chairman’s Continuous Service (as defined in the Plan) on the effective date of such transaction.
 
Expenses
 
The Company will reimburse Eligible Directors for ordinary, necessary and reasonable out-of-pocket travel expenses to cover in-person attendance at and participation in Board and/or Committee meetings; provided, 

that Eligible Directors timely submit to the Company appropriate documentation substantiating such expenses in accordance with the Company’s travel and expense policy, as in effect from time to time.
 
Philosophy 
The Director Compensation Policy is designed to attract and retain experienced, talented individuals to serve on the Board. The Board anticipates that the Board, or a duly authorized committee thereof, will generally review Eligible Director compensation on an annual basis following the IPO. The Director Compensation Policy, as amended from time to time, may take into account the time commitment expected of Eligible Directors, best practices and market rates in director compensation, the economic position of Mirati, broader economic conditions, historical compensation structure, the advice of the compensation consultant that the Compensation Committee or the Board may retain from time to time, and the potential dilutive effect of equity awards on our stockholders. 
Under the Director Compensation Policy, Eligible Directors receive cash compensation in the form of retainers to recognize their level of responsibility as well as the necessary time commitment involved in serving in a leadership role and/or on Committees. Eligible Directors also receive equity compensation because we believe that stock ownership provides an incentive to act in ways that maximize long-term stockholder value. Further, we believe that stock-based awards are essential to attracting and retaining talented Board members. When stock options are granted, these stock options will have an exercise price at least equal to the Fair Market Value of Common Stock on the date of grant, so that stock options provide a return only if the Fair Market Value appreciates over the period in which the stock option vests and remains exercisable. We believe that the vesting acceleration provided in the case of a Change in Control or other Corporate Transaction is consistent with market practices and is critical to attracting and retaining high quality directors.

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00305-of-00352.parquet"}]]