Document:

Exhibit

Exhibit 10.10
INDEMNIFICATION AGREEMENT
This INDEMNIFICATION AGREEMENT is made this day of _______, 20[●] (the “Agreement”), by and between PacWest Bancorp (the “Company”) and _______________ (“Indemnitee”).
WHEREAS, Indemnitee is a director or officer of the Company serving at the request of the Company as a director or officer of the Company or in another Position (as defined below) at an Affiliated Entity (as defined below);
WHEREAS, in consideration of Indemnitee acting in the Position and assuming the responsibilities attendant to the Position, the Company desires to provide Indemnitee the rights to indemnification and advance payment or reimbursement of expenses described below;
NOW, THEREFORE, in consideration of the premises above and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and Indemnitee do hereby covenant and agree as follows:
Section 1.Definitions.  For purposes of this Agreement:
(a)    The term “Company” shall include any predecessor of the Company and any constituent corporation (including any constituent of a constituent) absorbed by the Company in a consolidation or merger.
(b)    The term “Expenses” shall include all reasonable fees, costs and expenses, including without limitation, attorney’s fees, retainers, court costs, transcript costs, fees of experts, witness fees, travel expenses, duplicating costs, printing and binding costs, telephone charges, postage, delivery service fees, ERISA excise taxes or penalties assessed on Indemnitee with respect to an employee benefit plan, Federal, state, local or foreign taxes imposed as a result of the actual or deemed receipt of any payments under this Agreement, penalties and all other disbursements or expenses of the types customarily incurred in connection with defending, preparing to defend or investigating an actual or threatened action, suit or proceeding (including Indemnitee’s counterclaims that directly respond to and negate the affirmative claim made against Indemnitee (“Permitted Counterclaims”) in such action, suit or proceeding), whether civil, criminal, administrative or investigative; and
(c)    The term “Position” includes service as a director or officer, or service in a similar capacity, of the Company or any Company advisory board or of any other corporation, limited liability company, public limited company, partnership, joint venture, trust, employee benefit plan, fund or other enterprise as to which the Company beneficially owns, directly or indirectly, at least a majority of the voting power of equity or membership interests, or in the case of employee benefit plans, is sponsored or maintained by the Company or one of the foregoing (any of the foregoing, an “Affiliated Entity”).
Section 2.    Indemnification — General.  Subject to the terms and conditions of this Agreement, the Company shall indemnify Indemnitee to the full extent permitted by Delaware law if Indemnitee is made or threatened to be made a party to, or otherwise involved in, any civil, criminal, administrative or investigative action, suit or proceeding by reason of the fact of Indemnitee’s Position.
Section 3.    Expenses.  Subject to the terms and conditions of this Agreement, upon receipt by the Company of an undertaking by Indemnitee to repay Expenses if it shall ultimately be determined that Indemnitee is not entitled to be indemnified by the Company, the Company shall promptly pay or reimburse Expenses reasonably incurred by Indemnitee in defending any action, suit or proceeding, whether civil, criminal, administrative or investigative, brought by reason of the fact of Indemnitee’s Position (excluding Indemnitee’s counterclaims other than Permitted Counterclaims).  Indemnitee’s obligation to reimburse the Company shall be unsecured and no interest shall be charged thereon.

Section 4.    Limitations.  The Company shall not indemnify Indemnitee or advance or reimburse Indemnitee’s Expenses if the action, suit or proceeding alleges (a) claims under Section 16(b) of the Securities Exchange Act of 1934, as amended, (b) violations of the Company’s Code of Business Conduct and Ethics or Insider Trading Policy or (c) violations of Federal or state insider trading laws, unless, in each case, Indemnitee has been successful on the merits, received the Company’s written consent to incurring the Expense or settled the case with the written consent of the Company, in which case the Company shall indemnify and reimburse Indemnitee.  In addition, the Company shall not indemnify Indemnitee for the amount of any reimbursement of the Company by Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by Indemnitee from the sale of securities of the Company, as required in each case under the Securities Exchange Act of 1934, as amended (including any such reimbursements that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002, or payment to the Company of profits arising from the purchase and sale by Indemnitee of securities within the meaning of Section 306 of the Sarbanes-Oxley Act of 2002).  Furthermore, the Company shall not indemnify Indemnitee or advance or reimburse Indemnitee’s Expenses if such indemnification or payment would constitute a “prohibited indemnification payment” under the regulations of the Federal Deposit Insurance Corporation (or any successor provisions) or any other applicable laws, rules or regulations.
Section 5.    Selection of Counsel.  Upon notification of the Company of the commencement of any action, suit or proceeding as to which indemnification will or could be sought under this Agreement, the Company or an Affiliated Entity shall be entitled to assume the defense of such action, suit or proceeding, with counsel approved by Indemnitee, which approval shall not be unreasonably withheld, upon the delivery to Indemnitee of written notice of its election so to do.  After delivery of such notice, approval of such counsel by Indemnitee and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees of counsel subsequently incurred by Indemnitee with respect to the same action, suit or proceeding; provided, that (a) Indemnitee shall have the right to employ his or her own counsel in any such action, suit or proceeding at Indemnitee’s expense; and (b) if (i) the employment of counsel by Indemnitee has been previously authorized by the Company, (ii) Indemnitee and the Company shall have reasonably concluded that there may be a conflict of interest between the Company or an Affiliated Entity, as applicable, and Indemnitee in the conduct of any such defense or (iii) the Company or an Affiliated Entity shall not within sixty (60) days, in fact, have employed counsel to assume the defense of such action, suit or proceeding, then the Expenses of Indemnitee’s counsel shall be at the expense of the Company.  In the event separate counsel is retained by an Indemnitee pursuant to this Section 5, the Company shall cooperate with Indemnitee with respect to the defense of the action, suit or proceeding, including making documents, witnesses and other reasonable information related to the defense available to Indemnitee and such separate counsel pursuant to joint-defense agreements or confidentiality agreements, as appropriate.  Neither the Company nor any Affiliated Entity shall be entitled to assume the defense of any action, suit or proceeding brought by or on behalf of the Company or an Affiliated Entity or as to which Indemnitee and the Company shall have made the determination provided for in (b)(ii) above.
Section 6.    Settlement of Claims.  The Company shall not be liable to indemnify Indemnitee under this Agreement or otherwise for any amounts paid in settlement of any action, suit or proceeding effected without the Company’s written consent.  The Company or an Affiliated Entity may settle any action, suit or proceeding on behalf of Indemnitee, but only with the prior written consent of Indemnitee, except that Indemnitee’s consent to a settlement shall not be required if the sole relief provided is monetary damages that are paid by the Company and such settlement would not result in (a) the imposition of a consent order, injunction or decree that would restrict the future activity or conduct of Indemnitee, (b) a finding or admission of a violation of law or violation of the rights of any person by Indemnitee, (c) a finding or admission that would have an adverse effect on other claims made or threatened against Indemnitee or (d) any monetary liability of Indemnitee that will not be promptly paid or reimbursed by the Company.  Neither the Company nor Indemnitee will unreasonably withhold their consent to any proposed settlement.  The Company shall not be liable to indemnify Indemnitee under this Agreement with regard to any judicial award if the Company was not given a reasonable and timely opportunity, at its expense, to participate in the defense of such action; provided, however, that the Company’s liability hereunder shall not be excused if participation in the action, suit or proceeding by the Company was barred by this Agreement.

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Section 7.    Recovery for Expenses of Enforcement.  Indemnitee shall be entitled to be reimbursed for Expenses incurred in any action, suit or proceeding to obtain indemnification or advance payment or reimbursement of Expenses under this Agreement on the same terms and conditions as Indemnitee is entitled to Expenses under Section 3.
Section 8.    Standard of Conduct.  No claim for indemnification shall be paid by the Company unless the Company has determined that Indemnitee acted in good faith and in a manner Indemnitee reasonably believed to be in or not opposed to the best interests of the Company and, with respect to any criminal action, suit or proceeding, had no reasonable cause to believe his or her conduct was unlawful.  Unless ordered by a court, such determinations shall be made by (a) a majority vote of the Company’s directors who are not parties to the action, suit or proceeding for which indemnification is sought, even though less than a quorum, or (b) by a committee of such directors designated by a majority vote of the Company’s directors, even though less than a quorum, (c) if there are no such directors, or if such directors so direct, by independent legal counsel in a written opinion or (d) by the Company’s stockholders.  Indemnitee shall be presumed to have met the relevant standard, and, if the determination is not made by the Company within thirty (30) days of a demand by Indemnitee for indemnification, Indemnitee shall be deemed to have met such standard.
Section 9.    Confidentiality.  Except as required by law or as otherwise becomes public, Indemnitee agrees to keep confidential any information that arises in connection with this Agreement, including but not limited to claims for indemnification or the advance payment or reimbursement of Expenses, amounts paid or payable under this Agreement and any communications between the parties hereto.
Section 10.    Nonexclusivity.  The rights of Indemnitee under this Agreement shall not be deemed exclusive and shall be in addition to, and not in lieu of, any right of indemnification or advance payment or reimbursement of Expenses Indemnitee may have under the Company’s certificate of incorporation or by-laws.  This Agreement is entered into pursuant to Section 145(f) of the Delaware General Corporation Law (“DGCL”) and shall not be constrained or limited to indemnification and advance payment or reimbursement of expenses provided by the DGCL.
Section 11.    Inconsistent Provision.  To the extent that any other agreement or undertaking of the Company is inconsistent with the terms of this Agreement, this Agreement shall govern.
Section 12.    No Duplication of Payments.  The Company shall not be liable under this Agreement to make any payment to Indemnitee under this Agreement to the extent that Indemnitee has otherwise actually received payment of amounts otherwise payable hereunder.
Section 13.    Insurance.  The Company shall, from time to time, make the good faith determination whether or not it is practicable for the Company or an Affiliated Entity to obtain and maintain a policy or policies of insurance with reputable insurance companies providing the officers, directors or employees of the Company and/or Affiliated Entities with coverage for losses from wrongful acts or to ensure the Company’s performance of its indemnification obligations under this Agreement.  Among other considerations, the Company will weigh the costs of obtaining such insurance coverage against the protection afforded by such coverage.  In all policies of liability insurance, Indemnitee shall be named as an insured in such a manner as to provide Indemnitee the same rights and benefits as are accorded to the most favorably insured of the Company’s and/or its subsidiaries’ directors, if Indemnitee is a director, of the Company’s and/or its subsidiaries’ officers, if Indemnitee is an officer, or of the Company’s and/or its subsidiaries’ employees, if Indemnitee is an employee. Notwithstanding the foregoing, the Company shall have no obligation to obtain or maintain such insurance if the Company determines in good faith that such insurance is not reasonably available, if the premium costs for such insurance are disproportionate to the amount of coverage provided, if the coverage provided by such insurance is limited by exclusions so as to provide an insufficient benefit, if Indemnitee is covered by similar insurance maintained by a subsidiary or parent of the Company, or for any similar reason.

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Section 14.    Subrogation.  In the event of any payment under this Agreement, the Company or any applicable Affiliated Entity shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee (under any insurance policy or otherwise), who shall execute all papers required and shall do everything necessary to secure such rights, including the execution of such documents necessary to enable the Company or any applicable Affiliated Entity to effectively bring suit to enforce such rights.
Section 15.    Notice by Indemnitee.  Indemnitee shall promptly notify the Company in writing upon the sooner of (a) becoming aware of an action, suit or proceeding where indemnification or the advance payment or reimbursement of Expenses may be sought or (b) being served with any summons, citation, subpoena, complaint, indictment, information or other document relating to any matter which may be subject to indemnification or the advance payment or reimbursement of Expenses covered hereunder.  As a condition to indemnification or the advance payment or reimbursement of Expenses, any demand for payment by Indemnitee hereunder shall be in writing and shall provide reasonable accounting for the Expenses to be paid by the Company.  The giving of notice required under this Section 15 shall be a condition precedent to Indemnitee’s right to be indemnified under this Agreement if the failure to give such notice materially prejudices any right, claim or defense available to the Company or any applicable Affiliated Entity.
Section 16.    Severability.  If any provision of this Agreement shall be held to be invalid, inoperative or unenforceable as applied to any particular case or in any particular jurisdiction, for any reason, such circumstances shall not have the effect of rendering the provision in question invalid, inoperative or unenforceable in any other distinguishable case or jurisdiction, or of rendering any other provision or provisions herein contained invalid, inoperative or unenforceable to any extent whatsoever.  The invalidity, inoperability or unenforceability of any one or more phrases, sentences, clauses or Sections contained in this Agreement shall not affect any other remaining part of this Agreement.
Section 17.    Successors and Assigns. 
(a)    This Agreement shall be binding upon, and inure to the benefit of, Indemnitee and Indemnitee’s estate, heirs, legal representatives and assigns, and upon the Company and its successors and assigns.
(b)    If Indemnitee is deceased and is entitled to indemnification under any provision of this Agreement, the Company shall indemnify Indemnitee’s estate and his or her spouse, heirs, administrators and executors against and shall assume all of the Expenses, judgments, penalties and fines actually and reasonably incurred by or for Indemnitee or his or her estate, in connection with the investigation, defense, settlement or appeal of any such action, suit or proceeding; provided, however, that when requested in writing by the spouse of Indemnitee and/or the heirs, executors or administrators of Indemnitee’s estate, the Company shall provide appropriate evidence of the agreement set forth herein to indemnify Indemnitee against, and to itself assume, such costs, liabilities and Expenses.
Section 18.    Counterparts.  This Agreement may be executed in one or more counterparts, each of which shall for all purposes be deemed to be an original but all of which together shall constitute one and the same Agreement.  
Section 19.    Headings.  The headings of the paragraphs of this Agreement are inserted for convenience only and shall not be deemed to constitute part of this Agreement or to affect the construction thereof.
Section 20.    Modification and Waiver.  No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both of the parties hereto.  No waiver of any of the provisions of this Agreement shall be deemed or shall constitute a waiver of any other provisions hereof (whether or not similar) nor shall such waiver constitute a continuing waiver.

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Section 21.    Notices.  All notices, requests, demands and other communications hereunder shall be in writing and shall be deemed to have been duly given if (i) delivered by hand, on the date delivered, (ii) mailed by certified or registered mail, with postage prepaid, on the third business day after the date on which it is mailed or iii) sent by guaranteed overnight courier service, with postage prepaid, on the business day after the date on which it is sent:
(a)    If to Indemnitee, to: 
 
______________________________ 
______________________________ 
______________________________ 
______________________________
(b)    If to the Company, to:
PacWest Bancorp
5404 Wisconsin Avenue, Second Floor
Chevy Chase, Maryland 20815
Attention:  General Counsel

or to such other address as may have been furnished to Indemnitee by the Company or to the Company by Indemnitee, as the case may be.
Section 22.    Governing Law.  This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware.
Section 23.    Venue.  Any action, suit or proceeding regarding indemnification or the advance payment or reimbursement of Expenses arising out of this Agreement or otherwise shall only be brought and heard and shall only be venued in the Delaware Court of Chancery.

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IN WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and year first above written.

	
			
	PACWEST BANCORP

	 

	By:
	            

	 
	Name:
	 

	 
	Title:
	 

AGREED TO AND ACCEPTED BY:
INDEMNITEE
                

-6-Ex_4_2

		
			Exhibit 4.2
		

		
			 
		

		
			DESCRIPTION OF CERTAIN OF REGISTRANT’S SECURITIES
		

		
			 
		

		
			General
		

		
			 
		

		
			The following is a summary of information concerning the capital stock of GlycoMimetics, Inc.  The summaries and descriptions below do not purport to be complete statements of the relevant provisions of our amended and restated certificate of incorporation  (our “restated certificate”) and amended and restated bylaws (our “restated bylaws”), and are entirely qualified by these documents.
		

		
			 
		

		
			Authorized Capital Stock
		

		
			 
		

		
			Our restated certificate authorizes us to issue up to 100,000,000 shares of common stock, $0.001 par value per share, and 5,000,000 shares of preferred stock, $0.001 par value per share, all of which shares of preferred stock are undesignated. Our board of directors may establish the rights and preferences of the preferred stock from time to time.
		

		
			 
		

		
			Description of Common Stock
		

		
			 
		

		
			Voting Rights
		

		
			 
		

		
			Each holder of our common stock is entitled to one vote for each share on all matters submitted to a vote of the stockholders, including the election of directors. Under the restated certificate and our restated bylaws, our stockholders do not have cumulative voting rights. Because of this, the holders of a majority of the shares of our common stock entitled to vote in any election of directors can elect all of the directors standing for election, if they should so choose.
		

		
			 
		

		
			Dividends
		

		
			 
		

		
			Subject to preferences that may be applicable to any then-outstanding shares of preferred stock, holders of common stock are entitled to receive ratably those dividends, if any, as may be declared from time to time by the board of directors out of legally available funds.
		

		
			 
		

		
			Liquidation
		

		
			 
		

		
			In the event of our liquidation, dissolution or winding up, holders of common stock will be entitled to share ratably in the net assets legally available for distribution to stockholders after the payment of all of our debts and other liabilities and the satisfaction of any liquidation preference granted to the holders of any then-outstanding shares of preferred stock.
		

		
			 
		

		
			Rights and Preferences
		

		
			 
		

		
			Holders of common stock have no preemptive, conversion or subscription rights and there are no redemption or sinking fund provisions applicable to the common stock. 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 preferred stock that we may designate in the future.
		

		
			 
		

		
			
		

		
			

		 

		

		
			Description of Preferred Stock
		

		
			 
		

		
			Our board of directors has the authority, without further action by our stockholders, to issue up to 5,000,000 shares of preferred stock in one or more series, to establish from time to time the number of shares to be included in each such series, to fix the rights, preferences and privileges of the shares of each wholly unissued series and any qualifications, limitations or restrictions thereon, and to increase or decrease the number of shares of any such series, but not below the number of shares of such series then outstanding.
		

		
			 
		

		
			Our board of directors may authorize the issuance of preferred stock with voting or conversion rights that could adversely affect the voting power or other rights of the holders of our common 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 and other corporate purposes, could, among other things, have the effect of delaying, deferring or preventing a change in control of us and may adversely affect the market price of our common stock and the voting and other rights of the holders of our common stock. It is not possible to state the actual effect of the issuance of any shares of preferred stock on the rights of holders of common stock until the board of directors determines the specific rights attached to that preferred stock.
		

		
			 
		

		
			Anti-Takeover Provisions
		

		
			 
		

		
			Our restated certificate provides for our board of directors to be divided into three classes with staggered three-year terms. Only one class of directors is elected at each annual meeting of our stockholders, with the other classes continuing for the remainder of their respective three-year terms. Because our stockholders do not have cumulative voting rights, stockholders holding a majority of the shares of common stock outstanding are able to elect all of our directors. The restated certificate and the restated bylaws also provide that directors may be removed by the stockholders only for cause upon the vote of 66 2/3% or more of our outstanding common stock. Furthermore, the authorized number of directors may be changed only by resolution of the board of directors, and vacancies and newly created directorships on the board of directors may, except as otherwise required by law or determined by the board, only be filled by a majority vote of the directors then serving on the board, even though less than a quorum.
		

		
			 
		

		
			The restated certificate and restated bylaws provide that all stockholder actions must be effected at a duly called meeting of stockholders and eliminate the right of stockholders to act by written consent without a meeting. Our restated bylaws also provide that only our chairman of the board, chief executive officer or the board of directors pursuant to a resolution adopted by a majority of the total number of authorized directors may call a special meeting of stockholders.
		

		
			 
		

		
			The restated bylaws provide that stockholders seeking to present proposals before a meeting of stockholders to nominate candidates for election as directors at a meeting of stockholders must provide timely advance notice in writing, and specify requirements as to the form and content of a stockholder’s notice.
		

		
			 
		

		
			The restated certificate and restated bylaws provide that the stockholders cannot amend many of the provisions described above except by a vote of 66 2/3% or more of our outstanding common stock.
		

		
			The combination of these provisions makes it more difficult for our existing stockholders to replace our board of directors as well as for another party to obtain control of us by replacing our board of directors. Since our board of directors has the power to retain and discharge our officers, these provisions could also make it more difficult for existing stockholders or another party to effect a change in management. In addition, the authorization of undesignated preferred stock makes it possible for our board of directors to issue preferred stock with voting or other rights or preferences that could impede the success of any attempt to change our control.
		

		
			 
		

		
			
		

		
			

		 

		

		
			These provisions are intended to enhance the likelihood of continued stability in the composition of our board of directors and its policies and to discourage coercive takeover practices and inadequate takeover bids. These provisions are also designed to reduce our vulnerability to hostile takeovers and to discourage certain tactics that may be used in proxy fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and may have the effect of delaying changes in our control or management. As a consequence, these provisions may also inhibit fluctuations in the market price of our stock that could result from actual or rumored takeover attempts. We believe that the benefits of these provisions, including increased protection of our potential ability to negotiate with the proponent of an unfriendly or unsolicited proposal to acquire or restructure our company, outweigh the disadvantages of discouraging takeover proposals, because negotiation of takeover proposals could result in an improvement of their terms.
		

		
			 
		

		
			Choice of Forum
		

		
			 
		

		
			The restated certificate provides that the Court of Chancery of the State of Delaware will be the exclusive forum for:
		

		
			 
		

		
			any derivative action or proceeding brought on our behalf;
		

		
			 
		

		
			any action asserting a breach of fiduciary duty;
		

		
			 
		

		
			any action asserting a claim against us arising pursuant to the Delaware General Corporation Law, the restated certificate or the restated bylaws; or
		

		
			 
		

		
			any action asserting a claim against us that is governed by the internal affairs doctrine.
		

		
			 
		

		
			The enforceability of similar choice of forum provisions in other companies’ certificates of incorporation has been challenged in legal proceedings, and it is possible that, in connection with any action, a court could find the choice of forum provisions contained in our restated certificate to be inapplicable or unenforceable in such action.
		

		
			 
		

		
			Transfer Agent and Registrar
		

		
			 
		

		
			The transfer agent and registrar for our common stock is American Stock Transfer & Trust Company. The transfer agent’s address is 6201 15th Avenue, Brooklyn, NY 11219.
		

		
			 
		

		
			Nasdaq Global Market Listing
		

		
			 
		

		
			Our common stock is listed on the Nasdaq Global Market under the trading symbol “GLYC.”

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