Document:

ex10_3.htm

 

 EXHIBIT 10.3

 

 

 

PRIVATE & CONFIDENTIAL

 

28th August 2017

 

	
MR. WONG, Wai Lim  [HKID : K057502 (A)]

 

Present

 

Dear Mr. WONG, Wai Lim,

 

Employment Offer Letter

 

We have pleasure in offering you a full-time employment with ABV CONSULTING LIMITED (the “Company”) as Chief Executive Officer  effective from 1st September, 2017. The Terms and Conditions of your employment are as follows :

 

	1.	Remuneration

 

	
 
	
Monthly Salary

	
 
	·	Your monthly salary will be HKD5,000.- payable at each month end.
	
 
	·	You will not be on a probation period.

 

	
 
	
Annual Bonus

	
 
	·	Your annual bonus will be optional, payable at the end of each year, depending on the Company’s business results and your individual performance.

 

	
 
	
Entertainment Allowance

	
 
	·	You will be given entertainment allowance of maximum HK$15,000.- for each month, by actual claims, subject to the submission of reasonable expenses receipts and subsequent approval by the Company.

 

	
 
	
Commission

	
 
	·	Your commission will be calculated according to the Company’s sales & marketing incentive scheme subject to the Company’s business results and your individual performance, and it will be payable at the agreed timeframe as stipulated by the Company.

 

 
	 
	Page 1 of 3
	

 
	 

 

 

	2.	Fringe Benefits

 

	
 
	
Standard Working Time

	
 
	·	Your working time will be 5 days a week (Monday to Friday), from 9:00am to 6:00pm.
	
 
	·	You may be required to work on Saturday and travel aboard as when necessary.
	
 
	·	No overtime allowance and travel hardship allowance will be paid.

 

	
 
	
Leave and Holidays

	
 
	·	Your annual leave will be 7 days each year, any untaken annual leave will be forfeited at the end of each year.
	
 
	·	You will enjoy the national legal holidays as stipulated by the HKSAR.

 

	
 
	
Mandatory Provident Fund (MPF)

	
 
	·	You will be enrolled into the MPF by the Company. The Company will contribute its portion as required by legislation. You shall consider yourself to contribute your portion according to the Special Voluntary Contributions Scheme.

 

	
 
	
Medical Insurance

	
 
	·	You will NOT be entitled to the medical insurance as stipulated by the Company’s policy.

 

	3.	Obligations

 

	
 
	·	You are expected to devote full time and due diligence to the discharge of your duties with utmost loyalty and high integrity. You hereby undertake that you shall abide by the Company’s Code of Conduct and policies.
	
 
	·	Any property (including any confidential information in particular, customer database) of the Company that you may be provided with during your employment should be returned upon your departure from the Company.

 

	4.	Confidentiality

 

	
 
	·	You understand that you will acquire confidential information of business value to the Company during the course of your employment. You hereby agree not to divulge such confidential information (including the intellectual property of the Company) to any other parties, or to use such information for your profit except in performance of employment activities beneficial to the company.
	
 
	
·
	
You are required to observe the Company’s policy of treating all salaries and remuneration with the strictest confidence. They should not be discussed with other staff members.

 

 

 

	 
	Page 2 of 3
	

 
	 

 

  

	5.	Termination

 

	
 
	·	This contract may be terminated by either party by giving one month’s written notices or salary in lieu of notice.
	
 
	·	The Company reserves the right to terminate your employment at any time without notice or salary in lieu of notice should you be found guilty of misconduct or negligence.

 

	6.	Non-Solicitation : Employees
	
 
	
 

		You shall not at any time during/after the termination of your employment directly or indirectly (whether on your own account or for any other person, firm or company) solicit, entice or attempt to entice away any employee from the Company or from any group companies.
	
 
	
 

	7.	Governing Law
	
 
	
 

		This contract is legally binding, governed and will be enforced according to the laws of Hong Kong Special Administration Region.

 

 

	
Yours Sincerely,
	
 
	
 

	
 
	
 
	
 

	
For and on behalf of
	
 
	
 

	
ABV CONSULTING LIMITED
	
 
	
I agree to the above terms and conditions

	
 
	
 
	
 

 

	
 
	
 
	
 

	
Date : 28th August 2017 
	
 
	
Date : 28th August 2017

 

 

 

	Page 3 of 3ex10_4.htm

 

EXHIBIT 10.4

 

 

PRIVATE & CONFIDENTIAL

 

28th August 2017

 

MR. CHOW, Chi Lin  [HKID : C671022 (9)]

 

Present

 

Dear Mr. CHOW, Chi Lin,

 

Employment Offer Letter

 

We have pleasure in offering you a full-time employment with ABV CONSULTING LIMITED (the “Company”) as Corporate Secretary effective from 1st September, 2017. The Terms and Conditions of your employment are as follows :

 

	1.	Remuneration

 

	
 
	
Monthly Salary

	
 
	·	Your monthly salary will be HKD5,000.- payable at each month end.
	
 
	·	You will not be on a probation period.

 

	
 
	
Annual Bonus

	
 
	·	Your annual bonus will be optional, payable at the end of each year, depending on the Company’s business results and your individual performance.

 

	
 
	
Entertainment Allowance

	
 
	·	You will be given entertainment allowance of maximum HK$15,000.- for each month, by actual claims, subject to the submission of reasonable expenses receipts and subsequent approval by the Company.

 

	
 
	
Commission

	
 
	·	Your commission will be calculated according to the Company’s sales & marketing incentive scheme subject to the Company’s business results and your individual performance, and it will be payable at the agreed timeframe as stipulated by the Company.

 

 

	 
	Page 1 of 3
	

 
	 

 

  

	2.	Fringe Benefits

 

	
 
	
 Standard Working Time

	
 
	·	Your working time will be 5 days a week (Monday to Friday), from 9:00am to 6:00pm.
	
 
	·	You may be required to work on Saturday and travel aboard as when necessary.
	
 
	·	No overtime allowance and travel hardship allowance will be paid.

 

	
 
	
Leave and Holidays

	
 
	·	Your annual leave will be 7 days each year, any untaken annual leave will be forfeited at the end of each year.
	
 
	·	You will enjoy the national legal holidays as stipulated by the HKSAR.

 

	
 
	
Mandatory Provident Fund (MPF)

	
 
	·	You will be enrolled into the MPF by the Company. The Company will contribute its portion as required by legislation. You shall consider yourself to contribute your portion according to the Special Voluntary Contributions Scheme.

 

	
 
	
Medical Insurance

	
 
	·	You will NOT be entitled to the medical insurance as stipulated by the Company’s policy.

 

	3.	Obligations

 

	
 
	·	You are expected to devote full time and due diligence to the discharge of your duties with utmost loyalty and high integrity. You hereby undertake that you shall abide by the Company’s Code of Conduct and policies.
	
 
	·	Any property (including any confidential information in particular, customer database) of the Company that you may be provided with during your employment should be returned upon your departure from the Company.

 

	4.	Confidentiality

 

	
 
	·	You understand that you will acquire confidential information of business value to the Company during the course of your employment. You hereby agree not to divulge such confidential information (including the intellectual property of the Company) to any other parties, or to use such information for your profit except in performance of employment activities beneficial to the company.
	
 
	
·
	
You are required to observe the Company’s policy of treating all salaries and remuneration with the strictest confidence. They should not be discussed with other staff members.

 

 

	 
	Page 2 of 3
	

 
	 

 

 

	5.	Termination

 

	
 
	·	This contract may be terminated by either party by giving one month’s written notices or salary in lieu of notice.
	
 
	·	The Company reserves the right to terminate your employment at any time without notice or salary in lieu of notice should you be found guilty of misconduct or negligence.

 

	6.	Non-Solicitation : Employees
	
 
	
 

	
 
	
You shall not at any time during/after the termination of your employment directly or indirectly (whether on your own account or for any other person, firm or company) solicit, entice or attempt to entice away any employee from the Company or from any group companies.

 

 

	7.	Governing Law
	
 
	
 

	
 
	
This contract is legally binding, governed and will be enforced according to the laws of Hong Kong Special Administration Region.

 

 

	
Yours Sincerely,
	
 
	
 

	
 
	
 
	
 

	
For and on behalf of
	
 
	
 

	
ABV CONSULTING LIMITED
	
 
	
I agree to the above terms and conditions

	

	
 
	
 

 

 

 

 

	
 
	
 
	
 

	
Date : 28th August 2017 
	
 
	
Date : 28th August 2017

 

 

 

	 
	Page 3 of 3Corindus Vascular Robotics, Inc. 10-K

Exhibit 10.25

Corindus Vascular Robotics, Inc.

Director Compensation Policy

as Amended and Restated
Effective December 15, 2017

	I.	Overview

The Board of Directors (the “Board”) of Corindus
Vascular Robotics, Inc. (“Corindus” or the “Company”) has approved the following Director Compensation
Policy (the “Policy”) to provide an inducement to attract and retain the services of qualified persons to serve as
directors.

	II.	Eligibility

This Policy shall apply to each director of the Board who
is not an employee of, or compensated consultant to, Corindus or any of its affiliates (a “Non-Employee Director”).
Employees of Corindus and their affiliates are not eligible to receive compensation under this Policy.

	III.	Director Compensation

The following is a description of the compensation arrangements
under which our Non-Employee Directors are compensated for their service as directors, including as members of the various committees
of our Board, consisting of the cash retainers described in Section III.A and the annual equity award described in Section III.B.

		A.	Cash Compensation

Subject to Section III.A.2, each Non-Employee Director shall
receive the following cash compensation on a quarterly basis for his or her service on the Board and committees of the Board:

	Board Retainer*	$5,000
	Additional Board Chair Retainer	$2,000
	Additional Audit Committee Chair Retainer	$2,000
	Additional Compensation Committee Chair Retainer	$1,500
	Additional Nominating Committee Chair Retainer	$1,000
	Additional Audit Committee Member Retainer	$1,000
	Additional Compensation Committee Member Retainer	$500
	Additional Nominating Committee Member Retainer	$500

 

* The Board Retainer amount is based
on each Non-Employee Director’s in person participation (i) at the quarterly board meeting ($4,000) and (ii) on one mid-quarter
update call ($1,000). In the event a Non-Employee Director attends a quarterly Board meeting remotely (by teleconference or other
means), such Non-Employee Director’s Board Retainer shall be reduced by $2,000. In the event a Non-Employee Director fails
to attend a quarterly Board meeting in-person or remotely, such Non-Employee Director’s Board Retainer shall be reduced by
$4,000. In the event a Non-Employee Director fails to attend a mid-quarter update call, such Non-Employee Director’s Board
Retainer shall be reduced by $1,000. For the avoidance of doubt, no additional fees will be paid in the event the Board meets more
than once per quarter or holds more than one update call per quarter.

    	 		 

    	 

    

 

In the event of absences by Non-Employee
Directors, the Board Chair Retainer and Committee-related retainers will be pro-rated based on the number of meetings or teleconferences
held during such fiscal quarter.

		1.	Terms for Cash Payment

Cash payments to Non-Employee Directors shall be paid
quarterly in arrears on the fifth business day following the end of the fiscal quarter to which service relates (each, a “Payment
Date”).

Each Non-Employee Director that is elected or appointed
to the Board after the date hereof shall receive a prorated cash retainer for the portion of the fiscal quarter during which he
or she begins serving on the Board or a committee of the Board (the “Prorated Retainer”). The Prorated Retainer shall
be an amount equal to the product of (A) the aggregate amount payable in respect of such Non-Employee Director’s service
for a full fiscal quarter multiplied by (B) a fraction, the numerator of which is (x) the number of days during which the
Non-Employee Director serves on the Board or committees during his or her initial fiscal quarter and the denominator of which is
(y) the total number of days during such fiscal quarter. The Prorated Retainer shall be paid on first Payment Date following such
Non-Employee Director’s election or appointment to the Board.

		2.	Election for Equity in Lieu of Cash Retainers

Prior to the end of each calendar year, each Non-Employee
Director shall make an annual election with respect to cash retainers for the following calendar year, indicating whether he or
she elects to receive the retainers in cash, as described in Section III.A.1, or in Corindus’ common stock, $0.0001 par value
per share (“Common Stock”), in lieu of the cash retainers. If no election has been made as of the first day of the
year, the Non-Employee Director shall receive all retainers in cash as set forth in Section III.A.1 or, if a previous election
has been made to receive Common Stock in lieu of the cash retainers, such election shall remain in effect for subsequent calendar
years until such election is changed by the completion, signature and delivery to Corindus of a new election form, in accordance
with the terms of this Policy. Each newly elected or appointed Non-Employee Director shall make an election prior to, or within
30 days of, his or her initial appointment or election to the Board, for the remainder of the year of such appointment or election,
whether to receive the retainers in cash or in Common Stock.

In the event an election is made to receive Common Stock in
lieu of cash retainers, such director shall automatically be granted on the applicable Payment Date a number of shares of Common
Stock having an aggregate fair market value equal to the aggregate amount of such Non-Employee Director’s cash retainer for
such fiscal quarter, determined by dividing (A) the aggregate amount of the retainers by (B) the closing price of the Common
Stock on NYSE American on the applicable Payment Date (rounded down to the nearest whole share) (the “Quarterly Retainer
Award”).

All Common Stock granted to Non-Employee Directors under this
Policy shall be (i) granted under Corindus’ Amended and Restated 2014 Stock Award Plan or any successor plan (the “Plan”)
and will be subject to the terms and conditions set forth in the Plan and (ii) subject to a resale restriction ending on the earlier
of such Non-Employee Director’s termination of service as a Non-Employee Director and the three (3)-year anniversary of the
Payment Date, as set forth in the Non-Employee Director Compensation Election Form.

		B.	Equity Compensation

		1.	Annual Equity Award

Each Non-Employee Director will automatically be
granted, without any further action by the Board, on the date (the “Grant Date”) of the annual meeting of the
Board coincident with or immediately following Corindus’ annual meeting of stockholders (the “Annual
Stockholders Meeting”), a number of restricted stock units (“RSUs”) (each RSU relating to one (1) shares of
Common Stock) having an aggregate fair market value equal to $40,000, determined by dividing (A) $40,000 by (B) the
closing price of the Common Stock on NYSE American on the Grant Date (rounded down to the nearest whole share) (the
“Annual Award”). The Annual Awards shall become vested in full upon the one year anniversary of the applicable
Grant Date, vesting in four successive equal quarterly installments on the quarterly anniversary of the Grant Date (rounded
down to the nearest whole share), provided that the Non-Employee Director is a director of the Company on the applicable
vesting date. All RSUs granted to Non-Employee Directors under this Section III.B.1 shall vest in full immediately upon a
Change in Control (as defined in the Plan).

    	 	2	 

    	 

    

 

		2.	Off-Cycle Equity Award

If a Non-Employee Director is initially
elected or appointed to the Board other than at the Annual Stockholders Meeting or the annual meeting of the Board coincident with
or immediately following the Annual Stockholders Meeting, such Non-Employee Director will automatically be granted on his election
or appointment date, without any further action by the Board, a number of RSUs having an aggregate fair market value equal to the
product of (A) $40,000 multiplied by (B) a fraction, the numerator of which is (x) the number of days between such Non-Employee
Director’s initial election or appointment to the Board and the date that is 12 months following the Annual Stockholders
Meeting preceding such Non-Employee Director’s initial election or appointment to the Board and the denominator of which
is (y) 365 days (the “Prorated Annual Award Amount”), determined by dividing (A) the Prorated Annual Award Amount
by (B) the closing price of the Common Stock on NYSE American on the date of grant (rounded down to the nearest whole share) (an
“Off-Cycle Award”). The Off-Cycle Awards shall become vested in full upon the one year anniversary of the applicable
grant date, vesting in four successive equal quarterly installments on the quarterly anniversary of the grant date (rounded down
to the nearest whole share), provided that the Non-Employee Director is a director of the Company on the applicable vesting date.
All RSUs granted to Non-Employee Directors under this Section III.B.2 shall vest in full immediately upon a Change in Control (as
defined in the Plan).

All Annual Awards and Off-Cycle Awards
granted to Non-Employee Directors under this Policy shall be granted under the Plan, and will be subject to the terms and conditions
set forth in the Plan and the form of Restricted Stock Unit Agreement approved by the Board [on December [___], 2017] (a “Restricted
Stock Unit Agreement”). All Annual Awards and Off-Cycle Awards will be subject to a resale restriction ending on the earlier
of such Non-Employee Director’s termination of service as a Non-Employee Director and the three (3)-year anniversary of the
date of grant, as provided in the applicable Restricted Stock Unit Agreement.

		C.	Expense Reimbursement

Upon presentation of documentation of such expenses reasonably
satisfactory to Corindus, each Non-Employee Director shall be reimbursed for his or her reasonable out-of-pocket business expenses
incurred in connection with attending meetings of the Board and its committees or in connection with other business related to
the Board. Each Non-Employee Director shall also be reimbursed for his or her reasonable out-of-pocket business expenses authorized
by the Board or one of its committees that are incurred in connection with attendance at meetings with Corindus’ management.
Each Non-Employee Director shall abide by Corindus’ travel and other policies applicable to company personnel.

	IV.	Policy Review / Amendments

The Compensation Committee or the Board
shall review this Policy from time to time to assess whether any amendments in the type and amount of compensation provided herein
should be adjusted in order to fulfill the objectives of this Policy. This Policy may only be amended by the Board.

 

    	 	3

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