Document:

Exhibit 10.1

 

AGREEMENT 

 

THIS AGREEMENT (“Agreement”)
is made and entered into this 11th day of August 2020 (“Effective Date”) by and between David Knight (“Knight”)
and Rego Payment Architectures, Inc. (“Rego”).

 

NOW THEREFORE,
in consideration of the mutual and several promises, agreements, representations and indemnities herein contained and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto, intending to
be legally bound hereby, agree as follows:

 

1.       Knight
hereby resigns as the President, Secretary and Chief Executive Officer of Rego, together with his positions as a member and Chairman
of the Board of Directors of Rego. Knight, however, shall continue as an employee of Rego in the position of Chief of Marketing
and, except as otherwise provided for in Paragraph 3, shall serve in such capacity without compensation or benefits.

 

2.       Knight
hereby acknowledges and agrees that, as of the Effective Date and except as otherwise provided for in Paragraph 3, he has received
full and complete payment for all compensation, earnings and any other amounts owed, due and/ or distributable to him by Rego,
including without limitation, salary, vacation pay, bonuses, stock options and the like.

 

3.       Notwithstanding
any other provision set forth herein, upon the sale of all or substantially all of Rego’s assets (whether by merger, sale
or otherwise), a public offering of Rego’s securities or a change in control (being defined as the sale of shares representing
more than fifty percent (50%) of the voting power of Rego) (a “Trigger Event”), Rego shall pay to Knight an amount
equal to Two Hundred Thousand Dollars ($200,000). Notwithstanding the forgoing, a portion or all of the aforementioned Two Hundred
Thousand Dollars ($200,000) shall be accelerated as follows: (a) in the event that prior to a Trigger Event, Rego raises financing
of at least Fifteen Million Dollars ($15,000,000), Knight shall receive $100,000 of the $200,000 amount; and (b) in the event that
prior to Trigger Event, Rego raises financing of at least Twenty Million Dollars ($20,000,000), Knight shall receive the balance
of the $200,000 amount.

 

4.       Rego
hereby acknowledges and agrees that Knight is the legal and beneficial owner of Two Hundred Forty Five Thousand Nine Hundred Seven
(245,907) shares of the common stock of Rego together with stock options which provide Knight with the right to purchase Five Million
(5,000,000) shares of common stock of Rego at a purchase price of ninety cents ($0.90) per share. All such options and shares shall
be governed by those certain Option and Restricted Share Agreements entered into between Rego and Knight

 

5.       Rego
does hereby release and agrees to defend, indemnify and hold Knight harmless from and against any and all losses, costs, damages,
claims, demands, expenses (including, without limitation, reasonable attorneys’ fees) or causes of action (collectively,
“Losses”) resulting, relating to or arising out of actions or inactions of Rego or any of its officers, directors,
affiliates or employees; except for actions taken or not taken at the direction of ,or with the knowledge of, Knight or which arises
from or relates to Knight’s gross negligence, fraud or intentional misconduct.

 

    	 	 	 

    	 

    

 

6.       Knight
hereby acknowledges his right to discuss this Agreement with his personal attorney, and that he has, prior to executing this Agreement,
fully informed himself of its contents. Knight further represents that he has carefully read and fully understands all of the provisions
of this Agreement and is voluntarily entering into this Agreement.

 

7.       This
Agreement constitutes the entire agreement between the parties and supersedes any prior understandings, agreements or representations
by or among the parties, written or oral, to the extent they relate in any way to the matters set forth in this Agreement. Knight
hereby acknowledges that his Employment Agreement with Rego, dated October 25, 2017 terminated effective October 25, 2019. This
Agreement shall be binding upon and inure to the benefit of each party and their respective executors, administrators, personal
representatives, heirs, successors and assigns, as applicable. This Agreement may not be amended, modified or supplemented except
by a writing signed by all parties hereto.

 

8.       This
Agreement shall be construed and interpreted in accordance with the laws of the Commonwealth of Pennsylvania. Any claim, controversy
or dispute arising out of or relating to this Separation Agreement or any interpretation or asserted breach thereof or performance
thereunder shall be subject to the laws of the Commonwealth of Pennsylvania without regard to principles of conflicts of laws.

 

9.        This
Agreement may be executed in one or more counterparts, each of which shall be deemed an original but all of which together will
constitute one and the same instrument.

 

The parties have executed
this Agreement as of the day and year first above written.

 

	 	Rego Payment Architectures, Inc.
	 	 	 
	 	 	 
	 	By: 	/s/ Gerald Hannahs
	 	 	Gerald Hannahs, Director 
	 	 	 
	 	/s/ David Knight
	 	David Knighteq-ex101_26.htm

EXHIBIT 10.1

Equillium, Inc.

 

Non-Employee Director Compensation Policy

(amended and restated, effective as of May 19, 2020)

 

Each member of the Board of Directors (the “Board”) who is not also serving as an employee of or consultant to Equillium, Inc. (the “Company”) or any of its subsidiaries (each such member, an “Eligible Director”) will receive the compensation described in this Non-Employee Director Compensation Policy for his or her Board service. An Eligible Director may decline all or any portion of his or her compensation by giving notice to the Company prior to the date cash may be paid or equity awards are to be granted, as the case may be. This 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 to Eligible Directors 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 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 fees are vested upon payment. 

 

	
1.
	
Annual Board Service Retainer: 

	
 
	
a.
	
All Eligible Directors: $40,000

	
 
	
b.
	
Chairman of the Board Service Retainer (in addition to Eligible Director Service Retainer): $20,000

 

	
2.
	
Annual Committee Chair 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

 

	
3.
	
Annual Committee Member Service Retainer (not applicable to Committee Chairs):

	
 
	
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

 

 

Equity Compensation

 

The equity compensation set forth below will be granted under the Company’s 2018 Equity Incentive Plan (the “Plan”).  All stock options granted under this 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 of the Company (the “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, provided that upon a termination of service other than for death, disability or cause, the post-termination exercise period will be 12 months from the date of termination).

 

1.Initial Grant: For each Eligible Director who is first elected or appointed to the Board, on the date of such Eligible Director’s initial election or appointment to the Board (or, if such date is not a market trading day, the first market trading day thereafter), the Eligible Director will be granted a stock option to purchase 24,000 shares of Common Stock (the “Initial Grant”).  The shares subject to each Initial Grant will vest in equal monthly installments over a three year period such that the option is fully vested on the third anniversary of the date of grant, subject to the Eligible Director’s Continuous Service (as defined in the Plan) through each such vesting date and will vest in full upon a Change in Control (as defined in the Plan).

 

2.Annual Grant: On the date of each annual stockholder meeting of the Company, each Eligible Director who continues to serve as a non-employee member of the Board following such stockholder meeting will be granted a stock option to purchase 24,000 shares of Common Stock (the “Annual Grant”). The shares subject to the Annual Grant will vest in equal monthly installments over the 12 months following the date of grant, provided that the Annual Grant will in any case be fully vested on the date of Company’s next annual stockholder meeting, subject to the Eligible Director’s Continuous Service (as defined in the Plan) through such vesting date and will vest in full upon a Change in Control (as defined in the Plan).Exhibit 4.1

 

SPECIMEN UNIT CERTIFICATE

 

NUMBER UNITS U-

 

	SEE REVERSE FOR

CERTAIN

DEFINITIONS	Horizon Acquisition Corporation	 

 

CUSIP [ ]

 

UNITS CONSISTING OF ONE CLASS A
ORDINARY SHARE AND ONE-THIRD OF ONE REDEEMABLE

 

WARRANT TO PURCHASE ONE CLASS A
ORDINARY SHARE

 

THIS CERTIFIES THAT                   
is the owner of                    Units.

 

Each Unit (“Unit”) consists of one (1) Class A
ordinary share, par value $0.0001 per share (“Ordinary Shares”), of Horizon Acquisition Corporation, a Cayman Islands
exempted company (the “Company”), and one-third (1/3) of one redeemable warrant (each whole warrant, a “Warrant”).
Each Warrant entitles the holder to purchase one (1) Ordinary Share for $11.50 per share (subject to adjustment). Each Warrant
will become exercisable on the later of (i) thirty (30) days after the Company’s completion of a merger, share exchange,
asset acquisition, share purchase, reorganization or other similar business combination with one or more businesses (each, a “Business
Combination”), and (ii) twelve (12) months from the closing of the Company’s initial public offering, and will
expire unless exercised before 5:00 p.m., New York City Time, on the date that is five (5) years after the date on which the
Company completes its initial Business Combination, or earlier upon redemption or liquidation (the “Expiration Date”).
The Ordinary Shares and Warrants comprising the Units represented by this certificate are not transferable separately prior to               
, 2020, unless Credit Suisse Securities (USA) LLC elects to allow earlier separate trading, subject to the Company’s
filing with the Securities and Exchange Commission of a Current Report on Form 8-K containing an audited balance sheet reflecting
the Company’s receipt of the gross proceeds of the initial public offering and issuing a press release announcing when separate
trading will begin. No fractional warrants will be issued upon separation of the Units and only warrant are exerciseable. The terms
of the Warrants are governed by a Warrant Agreement, dated as of [●], 2020, between the Company and Continental Stock
Transfer & Trust Company, as Warrant Agent, and are subject to the terms and provisions contained therein, all of which
terms and provisions the holder of this certificate consents to by acceptance hereof. Copies of the Warrant Agreement are on file
at the office of the Warrant Agent at 1 State Street, 30th Floor, New York, New York 10004, and are available to any Warrant holder
on written request and without cost.

 

Upon the consummation of the Business Combination,
the Units represented by this certificate will automatically separate into the Ordinary Shares and Warrants comprising such Units.

 

This certificate is not valid unless countersigned
by the Transfer Agent and Registrar of the Company.

 

This certificate shall be governed by and
construed in accordance with the internal laws of the State of New York.

 

Witness the facsimile signatures of its
duly authorized officers.

 

	By	 	 	 
	 	 	 	 
	 	Chief Executive Officer	 	Chief Financial Officer

 

     

     

    

 

Horizon Acquisition Corporation

 

The Company will furnish without charge
to each unitholder who so requests, a statement of the powers, designations, preferences and relative, participating, optional
or other special rights of each class of shares or series thereof of the Company and the qualifications, limitations or restrictions
of such preferences and/or rights.

 

The following abbreviations, when used in
the inscription on the face of this certificate, shall be construed as though they were written out in full according to applicable
laws or regulations:

 

	TEN COM	—	as tenants in common	UNIF GIFT MIN ACT	—	 	Custodian	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	(Cust)	 	(Minor)
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	TEN ENT	—	as tenants by the entireties	 	 	under Uniform Gifts to Minors Act
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	(State)	 
	 	 	 	 	 	 	 	 
	JT TEN	—	as joint tenants with right of survivorship and not as tenants in common	 	 	 	 	 

 

Additional abbreviations may also be used
though not in the above list.

 

     2

     

    

 

For value received,                            
hereby sells, assigns and transfers unto

 

PLEASE INSERT SOCIAL SECURITY OR OTHER IDENTIFYING
NUMBER OF ASSIGNEE

 

(PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS, INCLUDING
ZIP CODE, OF ASSIGNEE)

 

Units represented by the within Certificate,
and do hereby irrevocably constitute and appoint                              
Attorney to transfer the said Units on the books of the within named Company with full power of substitution in the premises.

 

	Dated	 	 	 
	 	 	 	 
	 	 	 	 
	 	 	 	Notice: The signature to this assignment must correspond with the name as written upon the face of the certificate in every particular, without alteration or enlargement or any change whatever.

 

Signature(s) Guaranteed:

 

	 	 
	THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM, PURSUANT TO S.E.C. RULE 17Ad-15 OR ANY SUCCESSOR RULES).	 

 

In each case, as more fully described in the Company’s
final prospectus dated [●], 2020, the holder(s) of this certificate shall be entitled to receive a pro-rata portion
of certain funds held in the trust account established in connection with the Company’s initial public offering only in the
event that (i) the Company redeems the Ordinary Shares sold in its initial public offering and liquidates because it does
not consummate an initial business combination within the period of time set forth in the Company’s amended and restated
memorandum and articles of association, as the same may be amended from time to time, (ii) the Company redeems the Ordinary
Shares sold in its initial public offering in connection with a shareholder vote to amend the Company’s amended and restated
memorandum and articles of association (A) to modify the substance or timing of the Company’s obligation to allow redemptions
in connection with the Company’s initial business combination or to redeem 100% of the Ordinary Shares if it does not complete
its initial business combination within the time period required by the Company’s Amended and Restated Memorandum and Articles
of Association, as amended from time to time, or (B) with respect to any other provision relating to shareholders’ rights
or pre-initial business combination activity, or (iii) if the holder(s) seek(s) to redeem for cash his, her or its
respective Ordinary Shares in connection with a tender offer (or proxy solicitation, solely in the event the Company seeks shareholder
approval of the proposed initial business combination) setting forth the details of a proposed initial business combination. In
no other circumstances shall the holder(s) have any right or interest of any kind in or to the trust account.

 

     3

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