Document:

EX-10.16

 Exhibit 10.16 

POSEIDA THERAPEUTICS, INC. 

NON-EMPLOYEE DIRECTOR COMPENSATION
POLICY 
 ADOPTED:
[                        ], 2019 

Each member of the Board of Directors (the “Board”) of Poseida Therapeutics, Inc. (the “Company”) who is a non-employee director of the Company (each such member, a “Non-Employee Director”) will receive the compensation described in this Non-Employee Director Compensation Policy (the “Director Compensation Policy”) for his or her Board service following the closing of the initial public offering of the
Company’s common stock (the “IPO”). 
 The Director Compensation Policy will be effective upon the execution of the
underwriting agreement in connection with the IPO (the date of such execution being referred to as the “IPO Date”). The Director Compensation Policy may be amended at any time in the sole discretion of the Board or the
Compensation Committee of the Board. 
 A Non-Employee Director may decline all or any portion of his or her
compensation by giving notice to the Company prior to the date cash is to be paid or equity awards are to be granted, as the case may be. 
 Annual Cash
Compensation 
 Commencing at the beginning of the first calendar quarter following the IPO Date, each
Non-Employee Director will receive the cash compensation set forth below for service on the Board. The annual cash compensation amounts will be payable in equal quarterly installments, in arrears following the
end of each quarter in which the service occurred, pro-rated for any partial months of service. All annual cash fees are vested upon payment. 

 

	1.	 Annual Board Service Retainer: 

	 	a.	 All Eligible Directors: $40,000 

	 	b.	 Chairman of the Board or Lead Independent Director (in addition to Eligible Director Service Retainer): $40,000

  

	2.	 Annual Committee Member Service Retainer: 

	 	a.	 Member of the Audit Committee: $7,500 

	 	b.	 Member of the Compensation Committee: $5,000 

	 	c.	 Member of the Nominating and Corporate Governance Committee: $4,000 

 

	3.	 Annual Committee Chair Service Retainer (in lieu of the Committee Member Service Retainer):

	 	a.	 Chairman of the Audit Committee: $15,000 

	 	b.	 Chairman of the Compensation Committee: $10,000 

	 	c.	 Chairman of the Nominating and Corporate Governance Committee: $8,000 

Equity Compensation 
 Equity awards will
be granted under the Company’s 2019 Equity Incentive Plan (the “Plan”), adopted in connection with the IPO. All stock options granted under this policy will be 

  
 1. 

 
Nonstatutory Stock Options (as defined in the Plan), with a term of ten years from the date of grant and an exercise price per share equal to 100% of the Fair Market Value (as defined in the
Plan) of the underlying common stock of the Company on the date of grant. 
 (a)    Automatic Equity Grants. 

(i)    Initial Grant for New Directors. Without any further action of the Board, each person who, after the
IPO Date, is elected or appointed for the first time to be a Non-Employee Director will automatically, upon the date of his or her initial election or appointment to be a
Non-Employee Director (or, if such date is not a market trading day, the first market trading day thereafter), be granted a Nonstatutory Stock Option to purchase 40,000 shares of common stock of the Company
(the “Initial Option Grant”). Each Initial Option Grant will vest in a series of 36 successive equal monthly installments over the three-year period measured from the date of grant. 

(ii)    Annual Grant. Without any further action of the Board, at the close of business on the date of each
Annual Meeting of the stockholders of the Company (“Annual Meeting”) following the IPO, each person who is then a Non-Employee Director will automatically be granted a Nonstatutory
Stock Option to purchase 20,000 shares of common stock (the “Annual Option Grant”). Each Annual Option Grant will vest in a series of 12 successive equal monthly installments over the
one-year period measured from the date of grant. 
 (b)    Vesting;
Change in Control. All vesting is subject to the Non-Employee Director’s “Continuous Service” (as defined in the Plan) on each applicable vesting date. Notwithstanding the
foregoing vesting schedules, for each Non-Employee Director who remains in Continuous Service with the Company until immediately prior to the closing of a “Change in Control” (as
defined in the Plan), the shares subject to his or her then-outstanding equity awards that were granted pursuant to this policy will become fully vested immediately prior to the closing of such Change in Control. 

(c)    Remaining Terms. The remaining terms and conditions of each award, including transferability, will be
as set forth in the Company’s Director Option Grant Package in the form adopted from time to time by the Board. 
 Expenses 

The Company will reimburse a Non-Employee Director for ordinary, necessary and reasonable out-of-pocket travel expenses to cover in-person attendance at and participation in Board and committee meetings; provided, that
such Non-Employee Director 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.

  
 2.Exhibit 10.3

 CONSULTING AGREEMENT 

 THIS CONSULTING AGREEMENT (the "Agreement") dated this 1st day of April, 2017 

 BETWEEN: 

 Fearless Films, Inc. of 467 Edgeley Blvd, Unit 2, Concord, Ontario, L4K 4E9 

 (the "Client") 

 - AND - 

 Dennis dos Santos of 34 -1 1180 Walden Circle, Mississauga, Ontario, L5J 4J9 

 (the "Consultant"). 

 BACKGROUND: 

	
 A. 

	
 The Client is of the opinion that the Consultant has the necessary qualifications, experience and abilities to provide consulting services to the Client. 

	
 B. 

	
 The Consultant is agreeable to providing such consulting services to the Client on the terms and conditions set out in this Agreement. 

 IN CONSIDERATION OF the matters described above and of the mutual benefits and obligations set forth in this Agreement, the receipt and sufficiency of which consideration is hereby acknowledged, the Client and the Consultant (individually the "Party" and collectively the "Parties" to this Agreement) agree as follows: 

 Services Provided 

	
 1. 

	
 The Client hereby agrees to engage the Consultant to provide the Client with the following consulting services (the "Services"): 

 

	
 · 

	
 The initial job title of the Consultant will be the following: President and CEO. The initial job duties the Consultant will be expected to perform will be the following: 

 Overall responsibility for all of the company, including management of the public company needs.. 

	
 2. 

	
 The Services will also include any other consulting tasks which the Parties may agree on. The Consultant hereby agrees to provide such Services to the Client. 

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 Term of Agreement. 

	
 3. 

	
 The term of this Agreement (the "Term") will begin on the date of this Agreement and will remain in full force and effect indefinitely until terminated as provided in this Agreement. 

	
 4. 

	
 In the event that either Party wishes to terminate this Agreement, that Party will be required to provide 150 days' written notice to the other Party. 

	
 5. 

	
 In the event that either Party breaches a material provision under this Agreement, the non-defaulting Party may terminate this Agreement immediately and require the defaulting Party to indemnify the non-defaulting Party against all reasonable damages. 

	
 6. 

	
 This Agreement may be terminated at any time by mutual agreement of the Parties. 

	
 7. 

	
 Except as otherwise provided in this Agreement, the obligations of the Consultant will end upon the termination of this Agreement. 

 Performance 

	
 8. 

	
 The Parties agree to do everything necessary to ensure that the terms of this Agreement take effect. 

 Currency 

	
 9. 

	
 Except as otherwise provided in this Agreement, all monetary amounts referred to in this Agreement are in USD (United States Dollars) 

 Compensation 

	
 10. 

	
 The Consultant will charge the Client for the Services as follows (the "Compensation"): 

 

 1. Compensation paid to the Consultant for the services rendered by the Consultant as required by this Agreement (the "Compensation") will include a salary of US $8,200.00 (dollars) per month. 

 2. This Compensation will be payable once per month while this Agreement is in force. The Client is entitled to deduct from the Consultant's Compensation, or from any other compensation in whatever form, any applicable deductions and remittances as required by law. 

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 3. The Consultaant understands and agrees that any additional remuneration paid to the Consultant in the form of bonuses or other similar incentive remuneration will rest in the sole discretion of the Client and that the Consultant will not earn or accrue any right to incentive remuneration by reason of the Consultant's engagement. 

 4. The Client will reimburse the Consultant for all reasonable expenses, in accordance with the Client's lawful policies as in effect from time to time, including but not limited to, any travel and entertainment expenses incurred by the Consultant in connection with the business of the Client. Expenses will be paid within a reasonable time after submission of acceptable supporting documentation. 

	
 11. 

	
 Invoices submitted by the Consultant to the Client are due within 15 days of receipt. 

 Reimbursement of Expenses 

	
 12. 

	
 The Consultant will be reimbursed from time to time for reasonable and necessary expenses incurred by the Consultant in connection with providing the Services. 

	
 13. 

	
 Pre-approval is not required for expenses. 

 Confidentiality 

	
 14. 

	
 Confidential information (the "Confidential Information") refers to any data or information relating to the business of the Client which would reasonably be considered to be proprietary to the Client including, but not limited to, accounting records, business processes, and client records and that is not generally known in the industry of the Client and where the release of that Confidential Information could reasonably be expected to cause harm to the Client. 

	
 15. 

	
 The Consultant agrees that they will not disclose, divulge, reveal, report or use, for any purpose, any Confidential Information which the Consultant has obtained, except as authorized by the Client or as required by law. The obligations of confidentiality will apply during the term of this Agreement and will survive indefinitely upon termination of this Agreement. 

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 16. 

	
 All written and oral information and material disclosed or provided by the Client to the Consultant under this Agreement is Confidential Information regardless of whether it was provided before or after the date of this Agreement or how it was provided to the Consultant. 

 Ownership of Intellectual Property 

	
 17. 

	
 All intellectual property and related material (the "Intellectual Property") that is developed or produced under this Agreement, will be the property of the Consultant. The Client is granted a non-exclusive limited-use license of this Intellectual Property. 

	
 18. 

	
 Title, copyright, intellectual property rights and distribution rights of the Intellectual Property remain exclusively with the Consultant. 

 Return of Property 

	
 19. 

	
 Upon the expiry or termination of this Agreement, the Consultant will return to the Client any property, documentation, records, or Confidential Information which is the property of the Client. 

 Capacity/Independent Contractor 

	
 20. 

	
 In providing the Services under this Agreement it is expressly agreed that the Consultant is acting as an independent contractor and not as an employee. The Consultant and the Client acknowledge that this Agreement does not create a partnership or joint venture between them, and is exclusively a contract for service. 

 Notice 

	
 21. 

	
 All notices, requests, demands or other communications required or permitted by the terms of this Agreement will be given in writing and delivered to the Parties at the following addresses: 

	
 a. 

	
 Fearless Films, Inc. 

 467 Edgeley Blvd, Unit 2, Concord, Ontario, L4K 4E9 

	
 b. 

	
 Dennis dos Santos 

 34 -1 1180 Walden Circle, Mississauga, Ontario, L5J 4J9 

 or to such other address as either Party may from time to time notify the other. 

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 Indemnification 

	
 22. 

	
 Except to the extent paid in settlement from any applicable insurance policies, and to the extent permitted by applicable law, each Party agrees to indemnify and hold harmless the other Party, and its respective affiliates, officers, agents, employees, and permitted successors and assigns against any and all claims, losses, damages, liabilities, penalties, punitive damages, expenses, reasonable legal fees and costs of any kind or amount whatsoever, which result from or arise out of any act or omission of the indemnifying party, its respective affiliates, officers, agents, employees, and permitted successors and assigns that occurs in connection with this Agreement. This indemnification will survive the termination of this Agreement. 

 Modification of Agreement 

	
 23. 

	
 Any amendment or modification of this Agreement or additional obligation assumed by either Party in connection with this Agreement will only be binding if evidenced in writing signed by each Party or an authorized representative of each Party. 

 Time of the Essence 

	
 24. 

	
 Time is of the essence in this Agreement. No extension or variation of this Agreement will operate as a waiver of this provision. 

 Assignment 

	
 25. 

	
 The Consultant will not voluntarily, or by operation of law, assign or otherwise transfer its obligations under this Agreement without the prior written consent of the Client. 

 Entire Agreement 

	
 26. 

	
 It is agreed that there is no representation, warranty, collateral agreement or condition affecting this Agreement except as expressly provided in this Agreement. 

 Enurement 

	
 27. 

	
 This Agreement will enure to the benefit of and be binding on the Parties and their respective heirs, executors, administrators and permitted successors and assigns. 

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 Titles/Headings 

	
 28. 

	
 Headings are inserted for the convenience of the Parties only and are not to be considered when interpreting this Agreement. 

 Gender 

	
 29. 

	
 Words in the singular mean and include the plural and vice versa. Words in the masculine mean and include the feminine and vice versa. 

 Governing Law 

	
 30. 

	
 This Agreement will be governed by and construed in accordance with the laws of the Province of Ontario. 

 Severability 

	
 31. 

	
 In the event that any of the provisions of this Agreement are held to be invalid or unenforceable in whole or in part, all other provisions will nevertheless continue to be valid and enforceable with the invalid or unenforceable parts severed from the remainder of this Agreement. 

 Waiver 

	
 32. 

	
 The waiver by either Party of a breach, default, delay or omission of any of the provisions of this Agreement by the other Party will not be construed as a waiver of any subsequent breach of the same or other provisions. 

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 IN WITNESS WHEREOF the Parties have duly affixed their signatures under hand and seal on this 1st day of April, 2017. 

 

	
 

	
  

 Fearless Films, Inc. 

 Per:____________________________ (Seal) 

	
 

	
  

 

 _______________________________ 

 Dennis dos Santos 

 

 

  

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