Document:

Exhibit 10.19

 

STEMLINE THERAPEUTICS, INC.

 

Amended and Restated 2011 Employee Cash Bonus Plan

 

1. PURPOSE

 

The purpose of this Amended and Restated 2011 Employee Cash Bonus Plan (the “Plan”) is to further the profitability of Stemline Therapeutics, Inc. (the “Company”) to the benefit of the equity owners of the Company through promoting high levels of Company performance by including performance-based compensation as a component of a Plan participant’s annual compensation.  For the avoidance of doubt, the Plan amends and restates the Company’s 2011 Employee Cash Bonus Plan in its entirety.

 

2.  ADMINISTRATION

 

Except as otherwise expressly provided herein, the Plan shall be administered by the Company’s Board of Directors (the “Board”).  The Board shall have exclusive power to determine the conditions (including performance requirements) to which the payment of the bonuses may be subject and to certify that performance goals are attained. Subject to the provisions of the Plan, the Board shall have the authority to interpret the Plan and establish, adopt or revise such rules and regulations and to make all determinations relating to the Plan as it may deem necessary or advisable for the administration of the Plan. The Board’s interpretation of the Plan and all of its actions and decisions with respect to the Plan shall be final, binding and conclusive on all parties.  The Board may appoint one or more persons to be the administrator of the Plan (the “Administrator”), who shall, in addition to any duties specified herein, be responsible for record keeping with respect to the Plan, supporting the Board as they may require, and such other duties as the Board may determine from time to time.

 

3. PLAN TERM AND BONUS YEARS

 

The term of the Plan is one year, commencing January 1, 2011.  As used in the Plan the term “Bonus Year” shall mean a calendar year.

 

4. PARTICIPATION

 

Subject to the approval of the Board, each of the Company’s officers or other highly compensated employees listed on Schedule I shall participate in the Plan (the “Participants”).

 

5. ESTABLISHMENT OF INDIVIDUAL BONUS TARGETS AND PERFORMANCE CRITERIA

 

The Board shall approve the individual target amount of bonus (the “Bonus Target”) that may be awarded to each Participant. In no event shall the establishment of any Participant’s Bonus

 

 

Target give a Participant any right to be paid all or any part of such amount unless and until a bonus is actually awarded pursuant to Section 6.

 

The Board shall establish the performance criteria (the “Performance Criteria”) that will apply to the determination of the bonus of each Participant for that Bonus Year. The Bonus Targets and Performance Criteria shall be set forth annually on Schedules attached to this Plan from time to time. The Performance Criteria are to be established based on financial measurements, operational metrics, and such other criteria (whether objective or subjective) that the Board may determine to be appropriate for any Participant.

 

6. DETERMINATION OF BONUSES AND TIME OF PAYMENT

 

As soon as practicable after the end of each calendar year during the term of the Plan, the Board shall determine whether or not the Performance Criteria of each Participant have been attained and shall determine the amount of the bonus, if any, to be awarded to each Participant for such Bonus Year according to the terms of this Plan. Such bonus determinations shall be based on achievement of the Performance Criteria for such Bonus Year. The Board, or a compensation committee established by the Board, shall certify in writing that the Performance Criteria have been achieved to their satisfaction prior to payment of any bonus under the Plan.

 

Once the bonus is so determined for each Participant, it shall be paid as set forth on Schedule III attached hereto.  A Participant must be employed by the Company on the date of payment to be eligible for the payment of any Bonus.

 

7.  MISCELLANEOUS

 

A. Government and Other Regulations. The obligation of the Company to make payment of bonuses shall be subject to all applicable laws, rules and regulations and to such approvals by governmental agencies as may be required.

 

B. Tax Withholding. The Company or a subsidiary, as appropriate, shall have the right to deduct from all bonuses paid in cash any federal, state or local taxes required by law to be withheld with respect to such cash payments.

 

C. Claim to Bonuses and Employment Rights. Neither this Plan nor any action taken hereunder shall be construed as giving any Participant any right to be retained in the employ of the Company or a subsidiary.

 

D. Nontransferability. A person’s rights and interests under the Plan may not be assigned, pledged or transferred except, in the event of a Participant’s death, to his designated beneficiary as provided in the Plan or, in the absence of such designation, by will or the laws of descent and distribution.

 

E. Pronouns. Masculine pronouns and other words of masculine gender shall refer to both men and women.

 

 

F. Titles and Headings. The titles and headings of the sections in the Plan are for convenience of reference only, and, in the event of any conflict between any such title or heading and the text of the Plan, such text shall control.

 

8. AMENDMENT AND TERMINATION

 

The Board may at any time terminate the Plan. The Board may at any time, or from time to time, amend or suspend and, if suspended, reinstate the Plan in whole or in part. Notwithstanding the foregoing, the Plan shall continue in effect to the extent necessary to settle all matters relating to the payment of bonuses awarded prior to any such termination or suspension.

 

 

Schedule I

 

Amended and Restated 2011 Employee Cash Bonus Plan

 

Participants and

 

Bonus Targets for 2011

 

	
Name
    	
 
    	
Total 2011 Bonus Target
    
	
 
    	
 
    	
(payable based on achievement of Performance   Criteria set forth on Schedule II)
    
	
 
    	
 
    	
 
    
	
Ivan   Bergstein
    	
 
    	
$107,192
    
	
Tom   Cirrito
    	
 
    	
$53,596
    
	
Ken   Hoberman
    	
 
    	
$45,940
    

 

	
Name
    	
 
    	
Total 2011 IPO Bonus
    
	
Ivan   Bergstein
    	
 
    	
$96,472   for an IPO > $30MM
    
	
Tom   Cirrito
    	
 
    	
$37,500
    
	
Ken   Hoberman
    	
 
    	
$42,000
    
	
Eric   Rowinsky
    	
 
    	
$100,000
    
	
John   Cavan
    	
 
    	
$22,500
    
	
Mark   Jacobson
    	
 
    	
$30,000
    
	
Chris   Brooks
    	
 
    	
$30,000
    

 

 

Schedule II

 

Amended and Restated 2011 Employee Cash Bonus Plan

 

2011 Performance Criteria for Participants

 

·           Orphan drug designation for SL-401

·           Presentation of SL-701 data at American Society of Clinical Oncology (ASCO) conference

·           Presentation of SL-401 data at American Society of Hematology (ASH) conference

·           Issuance of key patent covering mAb-based therapeutics targeting CSCs

·           Formation of SL-701 SAB

·           Hiring of Chief Medical Officer

·           NYC biotechnology tax credit grant (>$200K)

 

 

Schedule III

 

Amended and Restated 2011 Employee Cash Bonus Plan
  Payment Dates Pursuant to Section 6

 

	
Name
    	
 
    	
Payment Date
    
	
Ivan   Bergstein
    	
 
    	
$57,192   payable upon closing of a Qualified Financing or Company Sale
    
	
Ivan   Bergstein
    	
 
    	
$50,000   payable on the one-year anniversary of a Qualified Financing or Company Sale
    
	
Ivan   Bergstein
    	
 
    	
$96,472   for an IPO > $30MM payable upon closing of an IPO
    
	
Tom   Cirrito
    	
 
    	
$53,596   payable on the one-year anniversary of a Qualified Financing or Company Sale
    
	
Tom   Cirrito
    	
 
    	
$37,500   payable on the one-year anniversary of an IPO
    
	
Ken   Hoberman
    	
 
    	
$45,940   payable on the one-year anniversary of a Qualified Financing or Company Sale
    
	
Ken   Hoberman
    	
 
    	
$42,000   payable on the one-year anniversary of an IPO
    
	
Eric   Rowinsky
    	
 
    	
Pursuant   to Dr. Rowinsky’s employment agreement with the Company
    
	
John   Cavan
    	
 
    	
$22,500   payable on the one-year anniversary of an IPO
    
	
Mark   Jacobson
    	
 
    	
$30,000   payable upon closing of an IPO
    
	
Chris   Brooks
    	
 
    	
$30,000   payable upon closing of an IPO
    

 

“Company Sale” shall mean:

(a)                                  a merger or consolidation in which (i) the Company is a constituent party or (ii) a subsidiary of the Company is a constituent party and the Company issues shares of its capital stock pursuant to such merger or consolidation, except any such merger or consolidation involving the Company or a subsidiary in which the shares of capital stock of the Company outstanding immediately prior to such merger or consolidation (on a fully-diluted basis) continue to represent, or are converted into or exchanged for shares of capital stock that represent, immediately following such merger or consolidation, at least a majority, by voting power, of the capital stock of (A) the surviving or resulting corporation or (B) if the surviving or resulting corporation is a wholly owned subsidiary of another corporation immediately following such merger or consolidation, the parent corporation of such surviving or resulting corporation; or

 

(b)                                 the sale, lease, transfer, exclusive out-license or other disposition, in a single transaction or series of related transactions, by the Company or any subsidiary of the Company of all or substantially all the assets of the Company and its subsidiaries taken as a whole, or the sale or disposition (whether by merger or otherwise) of one or more subsidiaries of the Company if substantially all of the assets of the Company and its subsidiaries taken as a whole are held by such subsidiary or subsidiaries, except where such sale, lease, transfer, exclusive out-license or other disposition is to a wholly owned subsidiary of the Company.

 

“Qualified Financing” shall mean a financing for capital raising purposes in which the aggregate proceeds to the Company from the sale of the Company’s securities equal or exceed $7,500,000.Exhibit 4.5

 

FORM OF SERIES A RIGHTS CERTIFICATE

 

Control No.

 

[LOGO]

 

	
 
    	
 

SERIES A RIGHTS   CERTIFICATE TO SUBSCRIBE FOR SHARES OF SERIES A LIBERTY VENTURES COMMON STOCK   FOR HOLDERS OF RECORD OF SERIES A OR SERIES B LIBERTY INTERACTIVE COMMON   STOCK AT 5:00 P.M., NEW YORK CITY TIME, ON [        ],   2012.  EXERCISABLE ON OR BEFORE   5:00 P.M., NEW YORK CITY TIME, ON [          ],   2012, UNLESS EXTENDED BY THE COMPANY.

 
    	
 
    

 

As the registered owner of the Series A Rights Certificate below, you are entitled to subscribe for the number of shares of Series A Liberty Ventures common stock, par value $.01 per share (the “Series A Liberty Ventures Common Stock”), of Liberty Interactive Corporation, a Delaware corporation (the “Company”), shown below.  Each whole transferable subscription right (each a “Series A Right”) entitles the holder to subscribe for and purchase one share of Series A Liberty Ventures Common Stock (the “Basic Subscription Privilege”) at a subscription price per share equal to [          ] (the “Subscription Price”), pursuant to a rights offering (the “Rights Offering”).  If any shares of Series A Liberty Ventures Common Stock available for purchase in the Rights Offering are not purchased by the Rightsholders pursuant to the exercise of their Basic Subscription Privilege (the “Excess Shares”), any Rightsholder fully exercising its Basic Subscription Privilege hereunder may subscribe for a number of Excess Shares pursuant to the terms and conditions of the Rights Offering, subject to proration (the “Oversubscription Privilege”) as described in the Registration Statement on Form S-4, as amended (the “Registration Statement”), dated [            ].

 

FOR A MORE COMPLETE DESCRIPTION OF THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING, PLEASE REFER TO THE REGISTRATION STATEMENT, WHICH IS INCORPORATED HEREIN BY REFERENCE.  COPIES OF THE REGISTRATION STATEMENT ARE AVAILABLE UPON REQUEST FROM THE INFORMATION AGENT, D.F. KING & CO., INC., AT 1-888-628-9011.

 

	
 
    	
 
    	
 
    

 

EXERCISABLE ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME, 
 ON [          ], 2012 UNLESS EXTENDED BY THE COMPANY

 

	
Control   No.
    	
Series A Rights   Represented by this Series A Rights Certificate
    
	
 
    	
 
    
	
CUSIP   No.     [          ]
    	
Maximum Shares Available   Pursuant to Basic Subscription Privilege
    

 

(Complete appropriate section on reverse side of this form.)

 

The Company is conducting a Rights Offering, which entitles holders of the Company’s Series A Liberty Interactive common stock, par value $.01 per share, and Series B Liberty Interactive common stock, par value $.01 per share, at 5:00 p.m. New York City time, on [          ], 2012 (the “Record Date”) who receive shares of Series A Liberty Ventures Common Stock and Series B Liberty Ventures Common Stock, respectively, in the Distribution (as such term is defined and described in more detail in the Registration Statement), to receive 1/3 of a Series A Right for each share of Series A Liberty Ventures Common Stock or Series B Liberty Ventures Common Stock received by them in the distribution. Each whole Series A Right entitles the holder thereof to subscribe for one share of Series A Liberty Ventures Common Stock pursuant to its Basic Subscription Privilege and, if its Basic Subscription Privilege is fully exercised, to subscribe for additional shares of Series A Liberty Ventures Common Stock pursuant to its Oversubscription Privilege.  If the aggregate Subscription Price delivered or transmitted by the Rightsholder with this Series A Rights Certificate exceeds the aggregate Subscription Price for all shares for which the Rightsholder would be entitled to subscribe pursuant to its Basic Subscription Privilege and no direction is given as to the excess, such Rightsholder will be deemed to have subscribed for a number of Excess Shares equal to the maximum whole number of Excess Shares that could be purchased with such excess Subscription Price. Shares of Series A Liberty Ventures Common Stock purchased pursuant to the Rights Offering will be issued by the Subscription Agent as soon as practicable following the Expiration Time.  No fractional Series A Rights or cash in lieu thereof will be issued or paid. Fractional Series A Rights will be rounded up to the nearest whole Series A Right. Set forth above is the number of Series A Rights evidenced by this Series A Rights Certificate that the Rightsholder is entitled to exercise pursuant to such Rightsholder’s Basic Subscription Privilege.

 

This Series A Rights Certificate is transferable, and may be combined or divided (but only into Series A Rights Certificates evidencing full rights) at the office of the Subscription Agent.  Rightsholders should be aware that if they choose to exercise, assign, transfer or sell only part of their Series A Rights, they may not receive a new Series A Rights Certificate in sufficient time to exercise, assign, transfer or sell the remaining Series A Rights evidenced thereby.

 

To subscribe for shares pursuant to your Basic Subscription Privilege please complete line “A”  and Section 1 below.

 

Example:         100 Series Rights = 100 shares of Series A Liberty Ventures Common Stock pursuant to Basic Subscription Privilege

 

        100           x         [         ]             =  [          ] payment

 

(No. of shares)    (Subscription Price)

 

 

To subscribe for shares pursuant to your Oversubscription Privilege, please complete line “B” and Section 1 below.

 

If you want the Subscription Agent to attempt to sell your unexercised Series A Rights, check box “D” below and complete Section 1.  If you want a new Series A Rights Certificate evidencing any unexercised Series A Rights delivered to you or to someone else, check box “E” below, and indicate the address to which the shares should be delivered in Section 1.  If you want some or all of your unexercised Series A Rights transferred to a designated transferee, or to a bank or broker to sell for you, check box “F” below and complete Section 2.

 

Payment of Shares:  Full payment for shares subscribed for pursuant to both your Basic Subscription Privilege and Oversubscription Privilege must accompany this Series A Rights Certificate or a notice of guaranteed delivery.  Please reference your Series A Rights Certificate Number on your check, bank draft, money order or notice of guaranteed delivery.

 

If the aggregate Subscription Price paid by a Rightsholder is insufficient to purchase the number of shares of Series A Liberty Ventures Common Stock that the holder indicates are being subscribed for, or if a Rightsholder does not specify the number of shares of Series A Liberty Ventures Common Stock to be purchased, or if the aggregate Subscription Price paid by a Rightsholder exceeds the amount necessary to purchase the number of shares of Series A Liberty Ventures Common Stock for which the Rightsholder has indicated an intention to subscribe, then the Rightsholder will be deemed to have exercised first its Basic Subscription Privilege and second its Oversubscription Privilege to purchase a number of shares of Series A Liberty Ventures Common Stock equal to the maximum whole number of shares that could be purchased with the payment tendered.

 

 

To:

 

	
BY FIRST CLASS MAIL:
    	
BY OVERNIGHT DELIVERY:
    	
BY HAND:
    

 

 

 

PLEASE FILL IN ALL APPLICABLE INFORMATION

 

	
A. Basic   Subscription Privilege
    	
 
    	
x
    	
 
    	
=
    	
$
    	
D.  Sell any unexercised Series A   Rights  o
    
	
(1 Series A   Right = 1 Share)
    	
(No. of   Shares)
    	
 
    	
(Subscription Price)
    	
 
    	
 
    	
 
    

 

	
B.   Oversubscription Privilege 1
    	
 
    	
x
    	
 
    	
=
    	
$
    	
E. Deliver a certificate   representing                    unexercised Series A Rights to the address in Section 1   o
    
	
 
    	
(No. of   Shares)
    	
 
    	
(Subscription Price)
    	
 
    	
 
    

 

	
C. Amount   Enclosed
    	
 
    	
 
    	
 
    	
=
    	
$
    	
F. Transfer                  Series A Rights to the Transferee designated in Section 2   o
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    

 

1 The Oversubscription Privilege may only be exercised if the Basic Subscription Privilege is fully exercised.

 

	
SECTION 1.   TO SUBSCRIBE:  I hereby irrevocably   subscribe for the number of shares of Series A Liberty Ventures Common   Stock indicated as the total of A and B hereon upon the terms and conditions   specified in the Registration Statement relating thereto and incorporated by   reference herein, receipt of which is acknowledged.  I hereby agree that if I fail to pay for   the shares of Series A Liberty Ventures Common Stock for which I have   subscribed, the Company may exercise any remedies available to it under law.

 

TO   SELL:  If I have checked the box on   line D, I authorize the sale of Series A Rights by the Subscription   Agent according to the procedures described in the Registration Statement.

___________________________________________________

Signature(s) of   Subscriber(s)

 

___________________________________________________

Address for delivery of   Shares or certificate representing unexercised Series A Rights

 

If   permanent change of address, check here o

Please   give your telephone number (       )          -         

Please give your email   address:                                                                

 
    	
SECTION 2.  TO TRANSFER SERIES A RIGHTS (pursuant to   line F above):

   For value received,                      of the Series A Rights represented by this Subscription  Certificate are assigned to:

 

                                                                                                          

(Print full name   of Assignee)

                                                                                                          

(Print full   address)

                                                                                                          

(Signature of   Assignee)

IMPORTANT:  The Signature must be guaranteed by:   (a) a commercial bank or trust company; (b) a member firm of a   domestic stock exchange; or (c) a savings bank or credit union.

 

Signature (name of bank   or firm):                                                             

 

Guaranteed By   (signature/title):

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