Document:

Exhibit 10.22

 

BETTER THERAPEUTICS, INC.

 

_______________,
2021

 

David Perry

[***]

 

		Re:	Executive Chairperson for Better
Therapeutics, Inc.

 

Dear David:

 

We are very pleased to offer you the position
of Executive Chairperson of the Board of Directors (the “Board”) of Better Therapeutics, Inc. (“Company”
or “We”) at a time commitment of approximately 20 hours per week. This position will report to the Board. Your start
date will be the Closing Date (as defined in that certain Agreement and Plan of Merger, dated as of April 6, 2021, by and among the
Company, Mountain Crest Acquisition Corp. II, and MCAD Merger Sub Inc. (the “Merger Agreement”)) (the “Start
Date”).

 

As Executive Chairperson of the Board (“Executive
Chairperson”), the Company requires that you be available to perform the duties of Executive Chairperson customarily related
to this function, including (a) acting as chairperson of Board and stockholder meetings, (b) acting as a liaison between the
Company’s senior management and the Board and its committees, (c) advising the Company’s senior management on matters
of Company operations and (d) otherwise performing the duties of Executive Chairperson, as well as such other customary duties the
as may be determined and assigned by the Board and as may be required by the Company’s governing instruments and by applicable law,
rule or regulation, including, without limitation, the Delaware General Corporation Law (the “DGCL”) and the rules and
regulations of the U.S. Securities and Exchange Commission (the “SEC”) and any exchange or quotation system on which
the Company’s securities may be traded from time to time. You agree to devote such time as is reasonably and customarily necessary
to perform completely the duties of Executive Chairperson, and you agree to perform such duties described herein in accordance with the
general fiduciary duty of executive officers and directors arising under the DGCL.

 

As compensation for your service as Executive
Chairperson, you will be paid at the rate of $260,000 per year (pro-rated for 2021, based on your Start Date), payable in accordance with
the Company’s standard payroll schedule and subject to applicable deductions and withholding.

 

In
addition to your cash compensation, subject to approval by the Board and the approval and effectiveness of the Company’s
2021 Stock Option and Incentive Plan (as amended from time to time, the “Plan”), the Company will grant to you a non-statutory
stock option to purchase [__]1 shares of common stock
of the Company (the “Initial Option”), with an exercise price per share that is equal to the fair market
value of a share of Company common stock on the date of grant, as determined by the Board, and a term of ten years. The Initial Option
will be subject to the terms and conditions set forth in the Plan and an option agreement thereunder to be executed by you and the Company
(the “Initial Option Agreement”). The Initial Option will vest as follows: 1/3 on the first anniversary of the Start
Date and then in equal monthly installments over the next two years; subject to your continued service as a member of the Board on each
applicable vesting date. Notwithstanding the foregoing, in the event of a Sale Event (as defined in the Plan), the Initial Option will
become 100% vested and exercisable at such time.

 

 

 

1 To insert 0.1% of post-closing common shares on a fully-diluted
basis, rounded to the nearest 100.

 

    1

     

    

 

In addition to the Initial Option, subject to
approval by the Board, on each of the Company’s annual meeting of stockholders, if you continue thereafter to be a member of the
Board, you will be entitled to receive a grant of a non-statutory stock option to purchase [__]2 shares of common stock of
the Company on the date of such annual meeting (the “Annual Grant”) with an exercise price per share equal to the closing
price of the Company’s common stock on the date of grant and a term of ten years. The Annual Grant will vest in full on the earlier
of (i) the one-year anniversary of the grant date or (ii) the Company’s next annual meeting of stockholders, subject to
your continued service as a member of the Board on such vesting date. Notwithstanding the foregoing, in the event of a Sale Event (as
defined in the Plan), the Annual Grant will become 100% vested and exercisable at such time.

 

The Company will reimburse you for all reasonable
out-of-pocket travel and other business expenses incurred in connection with attending meetings of the Board, upon submission by you of
reasonable supporting documentation. To the extent you are eligible, you may participate in the Company’s standard benefit programs
that the Company establishes and makes available to its full-time employees.

 

The Company has adopted provisions in its Certificate
of Incorporation and Bylaws to indemnify directors to the maximum extent allowed under Delaware law. You will also be allowed to enter
into an indemnification agreement with the Company consistent with such agreements executed by other members of the Board.

 

Nothing in this letter agreement or any equity
documents or any indemnification agreements should be construed to interfere with or otherwise restrict in any way the rights of the Company
and the Company’s stockholders to remove you from the Board or otherwise terminate your service with the Company, or your rights
as a director to resign, at any time in accordance with the provisions of applicable law, provided that both you and the Company
agree to provide each other with thirty (30) days’ written notice of such termination or resignation, except in the event of a termination
by the Company for cause. Other than compensation and expenses earned and accrued up through the date of any such termination, you should
not be entitled to any payments in connection with your termination or resignation.

 

Notwithstanding any other provision of this letter
agreement, the Company may withhold from amounts payable under this letter agreement all federal, state, local and foreign taxes that
are required to be withheld by applicable laws or regulations.

 

 

 

2
To insert 0.05% of post-closing common shares outstanding, rounded to the nearest 100.

 

    2

     

    

 

This
letter agreement constitutes the complete agreement between you and the Company regarding your service on the Board and supersedes all
other agreements and understandings regarding such subject matter. This letter agreement can only be changed by another written
agreement signed by you and an authorized representative of the Company. Should any provision of this letter agreement be determined by
an arbitrator, court of competent jurisdiction, or government agency to be wholly or partially invalid or unenforceable, the legality,
validity and enforceability of the remaining parts, terms, or provisions are intended to remain in full force and effect. This letter
agreement will be construed in accordance with, and governed in all respects by, the internal laws of the State of Delaware (without giving
effect to principles of conflicts of laws).

 

By entering into this letter agreement, you represent
that you are not bound by any employment contract, restrictive covenant, or other restriction preventing you from serving on the Board.

 

You will be required to sign the Company’s
standard Employee Confidential Information and Inventions Assignment Agreement prior to your Start Date, a copy of which is attached as
Exhibit A.

 

We are excited about the prospect of having you
join the Company as the Executive Chairperson. Please confirm that the foregoing accurately reflects our agreement regarding your service
and compensation as Executive Chairperson of the Board by signing below and returning a signed copy to the Company.

 

	 	Very truly yours,
	 	 
	 	 
	 	 
	 	Name: Kevin Appelbaum
	 	Title: CEO

 

Accepted and Agreed:

 

	David Perry	 

 

	Date:	 	 

 

    3

     

    

 

EXHIBIT A

 

Employee Confidential Information and Inventions
Assignment Agreement

 

    4kld-ex101_35.htm

 

			
	

	
 
	
Exhibit 10.1

 

June 15, 2021

 

 

Christopher Weiler

 

 

 

Dear Chris,

 

As part of the KLD response to the COVID-19 global pandemic, you previously agreed to temporarily adjust your base salary.  Effective at the beginning of the July 2, 2021 pay period, your pay will be restored to the amount prior to any voluntary, temporary pay reductions.  

 

Temporary annualized base salary:  $300,000

Temporary calculated bi-weekly amount (annualized salary/26):  $11,538

 

Fully restored annualized based salary:  $500,000

Fully restored calculated bi-weekly amount:  $19,230.77

 

All other terms and conditions of your employment remain unchanged.  

 

To confirm your acceptance of this pay change, please sign and return this letter.

 

 

Sincerely,

 

/s/ Lindsey Hammond

 

Lindsey Hammond

VP, Global Talent

 

 

 

I accept the above change to my base salary and acknowledge that this change is now part of my employment agreement for the period stated.

 

	
Name
	
 
	
Christopher Weiler

	
 
	
 
	
 

	
Signature
	
 
	
/s/ Christopher Weiler

	
 
	
 
	
 

	
Date
	
 
	
July 14, 2021

 

 

			
	
KLDiscovery Ontrack, LLC
	
 
	
 

	
8201 Greensboro Drive, Suite 300
	
 
	
kldiscovery.com

	
McLean, VA 22102kld-ex102_34.htm

 

			
	

	
 
	
Exhibit 10.2

 

 

 

 

June 15, 2021

 

 

Dawn Wilson

 

 

 

Dear Dawn,

 

As part of the KLD response to the COVID-19 global pandemic, you previously agreed to temporarily adjust your base salary.  Effective at the beginning of the July 2, 2021 pay period, your pay will be restored to the amount prior to any voluntary, temporary pay reductions.  

 

Current Temporary annualized base salary:  $320,000

Current Temporary calculated bi-weekly amount (annualized salary/26):  $12,307

 

Fully restored annualized based salary:  $400,000

Fully restored calculated bi-weekly amount:  $15,384.62

 

All other terms and conditions of your employment remain unchanged.

 

To confirm your acceptance of this pay change, please sign and return this letter.

 

Sincerely,

 

/s/ Lindsey Hammond

 

Lindsey Hammond

VP, Global Talent

 

 

 

I accept the above change to my base salary and acknowledge that this change is now part of my employment agreement.

 

	
Name
	
 
	
Dawn Wilson

	
 
	
 
	
 

	
Signature
	
 
	
/s/ Dawn Wilson

	
 
	
 
	
 

	
Date
	
 
	
July 10, 2021

 

 

			
	
KLDiscovery Ontrack, LLC
	
 
	
 

	
8201 Greensboro Drive, Suite 300
	
 
	
kldiscovery.com

	
McLean, VA 22102

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