Document:

cmhz_ex101.htm

EXHIBIT 10.1
  
 CANCELLATION AGREEMENT 
  
 by and among
  
 BANNY COSMIC INTERNATIONAL HOLDINGS, INC. (NEVADA)
  
 and
  
 BANNY INTERNATIONAL TRADING CO. LTD. (of MACAU)
  
 and
  
 CHOI KAI WENG 
  
 THIS CANCELLATION GREEMENT dated as of the 10th day of September, 2018 (the “Agreement”) among Banny Cosmic International Holdings, Inc. (formerly Wincash Apolo Gold & Energy Inc.), a State of Nevada company (“Banny Cosmic” or the “Company”), Banny International Trading Co. Ltd. (“Banny International”), a Macau corporation, and Choi Kai Weng (“Choi”), collectively hereafter referred as the parties (the “Parties”). 
  
 WHEREAS Banny Cosmic had acquired the brand name “Banny Choice” and the right to use Banny International’s sale distribution network under a Sale and Purchase Agreement dated April 3, 2018; 
  
 WHEREAS Choi is the sole shareholder of Banny International; 
  
 WHEREAS, Banny Cosmic had issued 36,500,000 shares (the “Shares”) of the Company’s common stock and an option (“Option”) to acquire 36,500,000 shares of the Company’s common stock at an exercise price of $0.25 per share to Banny International Group (Holdings) Limited in exchange for the purchase by Banny Cosmic of Banny International’s brand name “Banny Choice” and the right to use Banny International’s sale distribution network throughout Asia and other parts of the world; and 
  
 NOW THERFORE, in consideration of the mutual covenants and agreements contained in this Agreement, the receipt and sufficiency of which are hereby acknowledged, and intending to be legally bound, the Parties hereby agree as follows: 
  
 ARTICLE I: THE CANCELLATION TRANSACTION
  
 Section 1.1: The Cancellation Transaction
  
 The Parties agrees to cancel the transaction described in the above Sale and Purchase Agreement dated April 3, 2018. As a part of this cancellation transaction, the 36,500,000 Shares issued to Banny International Group (Holdings) Limited shall be returned to the Company’s treasury for cancellation, and the Option to acquire 36,500,000 shares of the Company’s common stock at an exercise price of $0.25 per share granted to Banny International Group (Holdings) Limited shall be cancelled. 
  
  	 
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 ARTICLE II: TRANSACTION CLOSING 
  
 Section 2.1: Closing
  
 The Closing shall be held on a date and at a place agreed by the Parties (the “Closing”), which date shall be no later than the Closing Date indicated in this agreement.
  
 ARTICLE III: REPRESENTATIONS AND WARRANTIES OF BANNY COSMIC
  
 Banny Cosmic represents and warrants to Banny International and Choi as of the date hereof that: 
  
 Section 3.1: Existence and Power
  
 Banny Cosmic is a corporation duly incorporated, validly existing and in good standing under the laws of the State of Nevada. Banny Cosmic has the requisite corporate power and authority to own or lease all its properties and assets and to carry on its business as it is now being conducted and is duly licensed or qualified to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary. 
  
 Section 3.2: Authorization
  
 The execution, delivery and performance of this Agreement has been duly authorized by all necessary action on the part of Banny Cosmic and its subsidiary, and this Agreement is a valid and binding obligation of the Company, enforceable against it in accordance with their terms. 
  
 Section 3.3: Board Approvals
  
 The transactions contemplated by this Agreement have been adopted, approved and declared advisable by the Board of Directors of Banny Cosmic.
  
 ARTICLE IV: REPRESENTATIONS AND WARRANTIES OF BANNY INTERNATIONAL
  
 Banny International represents and warrants to Banny Cosmic as of the date hereof that: 
  
 Section 4.1: Existence and Power
  
 Banny International is a corporation duly incorporated, validly existing and in good standing under the laws of Macau. Banny International has the requisite corporate power and authority to own or lease all its properties and assets and to carry on its business as it is now being conducted and is duly licensed or qualified to do business in each jurisdiction in which the nature of the business conducted by it or the character or location of the properties and assets owned or leased by it makes such licensing or qualification necessary. 
  
  	 
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 Section 4.2: Authorization
  
 The execution, delivery and performance of this Agreement has been duly authorized by all necessary action on the part of Banny International, and this Agreement is a valid and binding obligation of Banny International, enforceable against it in accordance with their terms. 
  
 Section 4.3: Board Approvals
  
 The transactions contemplated by this Agreement and the compliance with the terms of this Agreement, have been adopted, approved and declared advisable by the Board of Directors of Banny International.
  
 ARTICLE V: CONDITIONS TO TRANSACTION CLOSING 
  
 Section 5.1: Conditions to Each Party’s Obligation to Effect the Transaction
  
 The respective obligations of the Parties hereunder to effect the Transaction shall be subject to the fact that no order, injunction or decree being issued by any court or agency of competent jurisdiction or other law preventing or making illegal the consummation of the Transaction shall be in effect.
  
 ARTICLE VI: TERMINATION 
  
 Section 6.1: Termination by Consent
  
 This Agreement may only be terminated by written consent of all Parties.
  
 ARTICLE VII: MISCELLANEOUS TERMS
  
 Section 7.1: Notices
  
 All notices and other communications required or permitted to be given under this Agreement shall be in writing and shall be deemed to have been given if delivered personally, via email or by facsimile or seven days after having been sent by certified mail, return receipt requested, postage prepaid, to the Parties to this Agreement to such address as the parties to this Agreement shall specify by notice to the other party. 
  
 Section 7.2: Further Assurances
  
 Each party hereto shall do and perform or cause to be done and performed all further acts and shall execute and deliver all other agreements, certificates, instruments and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby. 
  
  	 
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 Section 7.3: Fees and Expenses
  
 Each party hereto shall pay all of its own fees and expenses incurred in connection with this Agreement and the transactions contemplated hereby. 
  
 Section 7.4: Governing Law
  
 This Agreement shall be governed and construed in accordance with the internal laws of the State of Nevada. 
  
 Section 7.5: Entire Agreement
  
 This Agreement constitutes the entire agreement between the Parties with respect to the subject matter of this Agreement and supersedes all prior agreements and understandings, both oral and written, between the parties and/or their affiliates with respect to the subject matter of this Agreement. 
  
 Section 7.6: Effect of Headings
  
 The Article and Section headings herein are for convenience only and shall not affect the construction hereof. 
  
 Section 7.7: Severability
  
 If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be deemed to be excluded from this Agreement and the balance of this Agreement shall be interpreted as if such provision were so excluded and shall be enforced in accordance with its terms to the maximum extent permitted by law. 
  
 Section 7.8: Counterparts
  
 This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures were upon the same instrument. No provision of this Agreement shall confer upon any person other than the Parties hereto any rights or remedies hereunder. 
  
 Section 7.9: Closing Date
  
 The transactions contemplated by this Agreement shall be completed within 5 days upon the signing of this Agreement by the Parties (the “Closing Date”), unless mutually agreed to a different date by the parties. 
  
  	 
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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their respective authorized officers as of the day and year first above written. 
  
  	BANNY COSMIC INTERNATIONAL HOLDINGS, INC. 	
	 	 	 
	Per:	/s/ Liu Wenxin 	
	 Name:
	 Liu Wenxin
	 
	Title:	 Director and CEO
	 
	  
	  
	  

	Dated:	10. Sep, 2018 	 
	  
	  
	  

	 BANNY INTERNATIONAL TRADING CO. LTD.
	  

	  
	  
	  

	 Per:
	 /s/ Choi Kai Weng
	  

	 Name:
	 Choi Kai Weng
	  

	 Title: 
	 Director 
	  

	  
	  
	  

	 Dated:
	 10. Sep, 2018 
	  

	  
	  
	  

	 CHOI KAI WENG
	  

	  
	  
	  

	 Signature
	 Choi Kai Weng 
	  

	  
	  
	  

	 Dated:
	 10. Sep, 2018
	  

  
  
  	 5Form of Indemnity Agreement

 Exhibit 10.1 

INDEMNITY AGREEMENT 
 This
Indemnity Agreement, dated as of ____________________ ____, 2018 is made by and between Sutro Biopharma, Inc., a Delaware corporation (the “Company”), and _______________________________________, a director, officer or key
employee of the Company or one of the Company’s subsidiaries or other service provider who satisfies the definition of Indemnifiable Person set forth below (“Indemnitee”). 

RECITALS 

A.    The Company is aware that competent and experienced persons are increasingly reluctant to serve as representatives
of corporations unless they are protected by comprehensive liability insurance and indemnification, due to increased exposure to litigation costs and risks resulting from their service to such corporations, and due to the fact that the exposure
frequently bears no relationship to the compensation of such representatives; 
 B.    The members of the Board of
Directors of the Company (the “Board”) have concluded that to retain and attract talented and experienced individuals to serve as representatives of the Company and its Subsidiaries and Affiliates and to encourage such
individuals to take the business risks necessary for the success of the Company and its Subsidiaries and Affiliates, it is necessary for the Company to contractually indemnify certain of its representatives and the representatives of its
Subsidiaries and Affiliates, and to assume for itself maximum liability for Expenses and Other Liabilities in connection with claims against such representatives in connection with their service to the Company and its Subsidiaries and Affiliates;

 C.    Section 145 of the Delaware General Corporation Law
(“Section 145”), empowers the Company to indemnify by agreement its officers, directors, employees and agents, and persons who serve, at the request of the Company, as directors, officers,
employees or agents of other corporations, partnerships, joint ventures, trusts or other enterprises, and expressly provides that the indemnification provided thereby is not exclusive; and 

D.    The Company desires and has requested Indemnitee to serve or continue to serve as a representative of the Company
and/or the Subsidiaries or Affiliates of the Company free from undue concern about inappropriate claims for damages arising out of or related to such services to the Company and/or the Subsidiaries or Affiliates of the Company. 

AGREEMENT 
 NOW,
THEREFORE, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1.    Definitions. 

(a)    Affiliate. For purposes of this Agreement, “Affiliate” of the Company means any
corporation, partnership, limited liability company, joint venture, trust or other enterprise in respect of which Indemnitee is or was or will be serving as a director, officer, trustee, manager, member, partner, employee, agent, attorney,
consultant, member of the entity’s governing body (whether constituted as a board of directors, board of managers, general partner or otherwise), fiduciary, or in any other similar capacity at the request, election or direction of the Company,
and including, but not limited to, any employee benefit plan of the Company or a Subsidiary or Affiliate of the Company. 

 (b)    Change in Control. For purposes of this Agreement,
“Change in Control” means (i) any “person” (as such term is used in Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended), other than a Subsidiary or a trustee or other fiduciary holding
securities under an employee benefit plan of the Company or Subsidiary, is or becomes the “Beneficial Owner” (as defined in Rule 13d-3 under said Act), directly or indirectly, of securities of the
Company representing 50% or more of the total voting power represented by the Company’s then outstanding capital stock or (ii) during any period of two consecutive years, individuals who at the beginning of such period constitute the Board
and any new director whose election by the Board or nomination for election by the Company’s stockholders was approved by a vote of at least two-thirds (2/3) of the directors then still in office who
either were directors at the beginning of the period or whose election or nomination for election was previously so approved, cease for any reason to constitute a majority thereof, or (iii) the stockholders of the Company approve a merger or
consolidation of the Company with any other corporation, other than a merger or consolidation that would result in the outstanding capital stock of the Company outstanding immediately prior thereto continuing to represent (either by remaining
outstanding or by being converted into capital stock of the surviving entity) at least 80% of the total voting power represented by the capital stock of the Company or such surviving entity outstanding immediately after such merger or consolidation,
or the stockholders of the Company approve a plan of complete liquidation of the Company or an agreement for the sale or disposition by the Company (in one transaction or a series of transactions) of all or substantially all of the Company’s
assets. 
 (c)    Expenses. For purposes of this Agreement, “Expenses” means all direct
and indirect costs of any type or nature whatsoever (including, without limitation, all attorneys’ fees and related disbursements, and other out-of-pocket costs),
paid or incurred by Indemnitee in connection with either the investigation, defense or appeal of, or being a witness in, a Proceeding (as defined below), or establishing or enforcing a right to indemnification under this Agreement, Section 145
or otherwise; provided, however, that Expenses shall not include any judgments, fines, ERISA excise taxes or penalties or amounts paid in settlement of a Proceeding. 

(d)    Indemnifiable Event. For purposes of this Agreement, “Indemnifiable Event” means any
event or occurrence related to Indemnitee’s service for the Company or any Subsidiary or Affiliate as an Indemnifiable Person (as defined below), or by reason of anything done or not done, or any act or omission, by Indemnitee in any such
capacity. 
 (e)    Indemnifiable Person. For the purposes of this Agreement, “Indemnifiable
Person” means any person who is or was a director, officer, trustee, manager, member, partner, employee, attorney, consultant, member of an entity’s governing body (whether constituted as a board of directors, board of managers,
general partner or otherwise) or other agent or fiduciary of the Company or a Subsidiary or Affiliate of the Company. 

(f)    Independent Counsel. For purposes of this Agreement, “Independent Counsel” means
legal counsel that has not performed services for the Company or Indemnitee in the five years preceding the time in question and that would not, under applicable standards of professional conduct, have a conflict of interest in representing either
the Company or Indemnitee. 
 (g)    Independent Director. For purposes of this Agreement, “Independent
Director” means a member of the Board who is not a party to the Proceeding for which a claim is made under this Agreement. 

(h)    Other Liabilities. For purposes of this Agreement, “Other Liabilities” means any and
all liabilities of any type whatsoever (including, but not limited to, judgments, fines, penalties, ERISA (or other benefit plan related) excise taxes or penalties, and amounts paid in settlement and all interest, taxes, assessments and other
charges paid or payable in connection with or in respect of any such judgments, fines, ERISA (or other benefit plan related) excise taxes or penalties, or amounts paid in settlement). 

  
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 (i)    Proceeding. For the purposes of this Agreement,
“Proceeding” means any threatened, pending, or completed action, suit or other proceeding, whether civil, criminal, administrative, investigative, legislative or any other type whatsoever, preliminary, informal or formal,
including any arbitration or other alternative dispute resolution and including any appeal of any of the foregoing. 

(j)    Subsidiary. For purposes of this Agreement, “Subsidiary” means any entity of which
more than 50% of the outstanding voting securities is owned directly or indirectly by the Company. 
 2.    Agreement
to Serve. The Indemnitee agrees to serve and/or continue to serve as an Indemnifiable Person in the capacity or capacities in which Indemnitee currently serves the Company as an Indemnifiable Person, and any additional capacity in which
Indemnitee may agree to serve, until such time as Indemnitee’s service in a particular capacity shall end according to the terms of an agreement, the Company’s Certificate of Incorporation or Bylaws, governing law, or otherwise. Nothing
contained in this Agreement is intended to create any right to continued employment or other form of service for the Company or a Subsidiary or Affiliate of the Company by Indemnitee. 

3.    Mandatory Indemnification. 

(a)    Agreement to Indemnify. In the event Indemnitee is a person who was or is a party to or witness in or is
threatened to be made a party to or witness in any Proceeding by reason of an Indemnifiable Event, the Company shall indemnify Indemnitee from and against any and all Expenses and Other Liabilities incurred by Indemnitee in connection with
(including in preparation for) such Proceeding to the fullest extent not prohibited by the provisions of the Company’s Bylaws and the Delaware General Corporation Law (“DGCL”), as the same may be amended from time to
time (but only to the extent that such amendment permits the Company to provide broader indemnification rights than the Bylaws or the DGCL permitted prior to the adoption of such amendment). 

(b)    Exception for Amounts Covered by Insurance and Other Sources. Notwithstanding the foregoing, the Company
shall not be obligated to indemnify Indemnitee for Expenses or Other Liabilities of any type whatsoever (including, but not limited to judgments, fines, penalties, ERISA excise taxes or penalties and amounts paid in settlement) to the extent such
have been paid directly to Indemnitee (or paid directly to a third party on Indemnitee’s behalf) by any directors and officers, or other type, of insurance maintained by the Company; provided, however, that payment made to
Indemnitee pursuant to an insurance policy purchased and maintained by Indemnitee at his or her own expense of any amounts otherwise indemnifiable or obligated to be made pursuant to this Agreement shall not reduce the Company’s obligations to
Indemnitee pursuant to this Agreement. 
 (c)    Company Obligations Primary. The Company hereby acknowledges that
Indemnitee may have rights to indemnification for Expenses and Other Liabilities provided by a venture capital firm or other sponsoring organization (“Other Indemnitor”). The Company agrees with Indemnitee that the Company is
the indemnitor of first resort of Indemnitee with respect to matters for which indemnification is provided under this Agreement and that the Company will be obligated to make all payments due to or for the benefit of Indemnitee under this Agreement
without regard to any rights that Indemnitee may have against the Other Indemnitor. The Company hereby waives any equitable rights to contribution or indemnification from the Other Indemnitor in respect of any amounts paid to

  
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Indemnitee hereunder. The Company further agrees that no reimbursement of Other Liabilities or payment of Expenses by the Other Indemnitor to or for the benefit of Indemnitee shall affect the
obligations of the Company hereunder, and that the Company shall be obligated to repay the Other Indemnitor for all amounts so paid or reimbursed to the extent that the Company has an obligation to indemnify Indemnitee for such Expenses or Other
Liabilities hereunder. 
 4.    Partial Indemnification. If Indemnitee is entitled under any provision of this
Agreement to indemnification by the Company for some or a portion of any Expenses or Other Liabilities but not entitled, however, to indemnification for the total amount of such Expenses or Other Liabilities, the Company shall nevertheless indemnify
Indemnitee for such total amount except as to the portion thereof for which indemnification is prohibited by the provisions of the Company’s Bylaws or the DGCL. In any review or Proceeding to determine the extent of indemnification, the Company
shall bear the burden to establish, by clear and convincing evidence, the lack of a successful resolution of a particular claim, issue or matter and which amounts sought in indemnity are allocable to claims, issues or matters which were not
successfully resolved. 
 5.    Liability Insurance. So long as Indemnitee shall continue to serve the Company or
a Subsidiary or Affiliate of the Company as an Indemnifiable Person and thereafter so long as Indemnitee shall be subject to any possible claim or threatened, pending or completed Proceeding as a result of an Indemnifiable Event, the Company shall
use reasonable efforts to maintain in full force and effect for the benefit of Indemnitee as an insured (i) liability insurance issued by one or more reputable insurers and having the policy amount and deductible deemed appropriate by the Board
and providing in all respects coverage at least comparable to and in the same amount as that provided to the Chairman of the Board or the Chief Executive Officer of the Company and (ii) any replacement or substitute policies issued by one or
more reputable insurers providing in all respects coverage at least comparable to and in the same amount as that being provided to the Chairman of the Board or the Chief Executive Officer of the Company. The purchase, establishment and maintenance
of any such insurance or other arrangements shall not in any way limit or affect the rights and obligations of the Company or of Indemnitee under this Agreement except as expressly provided herein, and the execution and delivery of this Agreement by
the Company and Indemnitee shall not in any way limit or affect the rights and obligations of the Company or the other party or parties thereto under any such insurance or other arrangement. In the event of a Change in Control subsequent to the date
of this Agreement, or the Company’s becoming insolvent, including being placed into receivership or entering the federal bankruptcy process, the Company shall maintain in force any and all insurance policies then maintained by the Company in
providing insurance—directors’ and officers’ liability, fiduciary, employment practices or otherwise—in respect of the individual directors and officers of the Company, for a fixed period of six years thereafter. Such coverage
shall be non-cancelable and shall be placed and serviced by the Company’s incumbent insurance broker or a broker selected by a majority of the Independent Directors. 

6.    Mandatory Advancement of Expenses. If requested by Indemnitee, the Company shall advance prior to the final
disposition of the Proceeding all Expenses reasonably incurred by Indemnitee in connection with (including in preparation for) a Proceeding related to an Indemnifiable Event within (30) days after the receipt by the Company of a statement or
statements from Indemnitee requesting such advance or advances from time to time, whether prior to or after final disposition of such Proceeding. Such statement or statements shall reasonably evidence the Expenses incurred by Indemnitee. The right
to advances under this section shall in all events continue until final disposition of any Proceeding, including any appeal therein. Indemnitee hereby undertakes to repay such amounts advanced if, and only if and to the extent that, it shall
ultimately be determined that Indemnitee is not entitled to be indemnified by the Company under the provisions of this Agreement, the Company’s Bylaws or the DGCL, and no additional form of undertaking with respect to such obligation to repay
shall be required. Indemnitee’s undertaking to repay any Expenses advanced to Indemnitee hereunder shall be unsecured and shall not be 

  
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subject to the accrual or payment of any interest thereon. In the event that Indemnitee’s request for the advancement of expenses shall be accompanied by an affidavit of counsel to
Indemnitee to the effect that such counsel has reviewed such Expenses and that such Expenses are reasonable in such counsel’s view, then such expenses shall be deemed reasonable in the absence of clear and convincing evidence to the contrary.

 7.    Notice and Other Indemnification Procedures. 

(a)    Notification. Promptly after receipt by Indemnitee of notice of the commencement of or the threat of
commencement of any Proceeding, unless the Company is a named co-defendant with Indemnitee, Indemnitee shall, if Indemnitee believes that indemnification or advancement of Expenses with respect thereto may be
sought from the Company under this Agreement, notify the Company of the commencement or threat of commencement thereof. However, a failure so to notify the Company promptly following Indemnitee’s receipt of such notice shall not relieve the
Company from any liability that it may have to Indemnitee except to the extent that the Company is materially prejudiced in its defense of such Proceeding as a result of such failure. 

(b)    Insurance and Other Matters. If, at the time of the receipt of a notice of the commencement of a Proceeding
pursuant to Section 7(a) above, the Company has director and officer liability insurance in effect, the Company shall give prompt notice of the commencement of such Proceeding to the issuers in accordance with the procedures set forth in the
respective policies. The Company shall thereafter take all reasonable action to cause such insurers to pay, on behalf of Indemnitee, all amounts payable as a result of such Proceeding in accordance with the terms of such insurance policies. In
addition, the Company will instruct the insurers and the Company’s insurance broker that they may communicate directly with Indemnitee regarding such claim. 

(c)    Assumption of Defense. In the event the Company shall be obligated to advance the Expenses for any Proceeding
against Indemnitee, the Company, if deemed appropriate by the Company, shall be entitled to assume the defense of such Proceeding as provided herein. Such defense by the Company may include the representation of two or more parties by one attorney
or law firm as permitted under the ethical rules and legal requirements related to joint representations. Following delivery of written notice to Indemnitee of the Company’s election to assume the defense of such Proceeding, the approval by
Indemnitee (which approval shall not be unreasonably withheld) of counsel designated by the Company and the retention of such counsel by the Company, the Company will not be liable to Indemnitee under this Agreement for any fees and expenses of
counsel subsequently incurred by Indemnitee with respect to the same Proceeding. If (A) the employment of counsel by Indemnitee has been previously authorized by the Company, (B) Indemnitee shall have notified the Board in writing that
Indemnitee has reasonably concluded that there may be a conflict of interest between the Company and Indemnitee in the conduct of any such defense, (C) the Company fails to employ counsel to assume the defense of such Proceeding, or
(D) after a Change in Control, the employment of counsel by Indemnitee has been approved by the Independent Counsel, the Expenses related to work conducted by Indemnitee’s counsel shall be subject to indemnification and/or advancement
pursuant to the terms of this Agreement. Nothing herein shall prevent Indemnitee from employing counsel for any such Proceeding at Indemnitee’s expense. Indemnitee agrees that any such separate counsel retained by Indemnitee will be a member of
any approved list of panel counsel under the Company’s applicable directors’ and officers’ insurance policy, should the applicable policy provide for a panel of approved counsel. 

(d)    Settlement. The Company shall not be liable to indemnify Indemnitee under this Agreement or otherwise for any
amounts paid in settlement of any Proceeding effected without the Company’s written consent; provided, however, that if a Change in Control has occurred subsequent to the date of this Agreement, the Company shall be liable for indemnification
of Indemnitee for amounts 

  
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paid in settlement if the Independent Counsel has approved the settlement. Neither the Company nor any Subsidiary or Affiliate shall enter into a settlement of any Proceeding that might result in
the imposition of any Expense, Other Liability, penalty, limitation or detriment on Indemnitee, whether indemnifiable under this Agreement or otherwise, without Indemnitee’s written consent. Neither the Company nor Indemnitee shall unreasonably
withhold consent from any settlement of any Proceeding. The Company shall promptly notify Indemnitee upon the Company’s receipt of an offer to settle, or if the Company makes an offer to settle, any Proceeding, and provide Indemnitee with a
reasonable amount of time to consider such settlement, in the case of any such settlement for which the consent of Indemnitee would be required hereunder. The Company shall not, on its own behalf, settle any part of any Proceeding to which
Indemnitee is a party with respect to other parties (including the Company) without the written consent of Indemnitee if any portion of the settlement is to be funded from insurance proceeds unless approved by a majority of the Independent
Directors, provided that this sentence shall cease to be of any force and effect if it has been determined in accordance with this Agreement that Indemnitee is not entitled to indemnification hereunder with respect to such Proceeding or if the
Company’s obligations hereunder to Indemnitee with respect to such Proceeding have been fully discharged. 

8.    Determination of Right to Indemnification. 

(a)    Success on the Merits or Otherwise. To the extent that Indemnitee has been successful on the merits or
otherwise in defense of any Proceeding referred to in Section 3(a) above or in the defense of any claim, issue or matter described therein, the Company shall indemnify Indemnitee against Expenses actually and reasonably incurred in connection
therewith. 
 (b)    Indemnification in Other Situations. In the event that Section 8(a) is inapplicable, the
Company shall also indemnify Indemnitee if Indemnitee has not failed to meet the applicable standard of conduct for indemnification. 

(c)    Forum. Indemnitee shall be entitled to select the forum in which determination of whether or not Indemnitee
has met the applicable standard of conduct shall be decided, and such election will be made from among the following: 

a.    Those members of the Board who are Independent Directors even though less than a quorum; 

b.    A committee of Independent Directors designated by a majority vote of Independent Directors, even though less than a
quorum; or 
 c.    Independent Counsel selected by Indemnitee and approved by the Board, which approval may not be
unreasonably withheld, which counsel shall make such determination in a written opinion. 
 If Indemnitee is an officer or a director of
the Company at the time that Indemnitee is selecting the forum, then Indemnitee shall not select Independent Counsel as such forum unless there are no Independent Directors or unless the Independent Directors agree to the selection of Independent
Counsel as the forum. 
 The selected forum shall be referred to herein as the “Reviewing Party”. Notwithstanding the foregoing,
following any Change in Control subsequent to the date of this Agreement, the Reviewing Party shall be Independent Counsel selected in the manner provided in c. above. 

  
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 (d)    Decision Timing and Expenses. As soon as practicable, and
in no event later than thirty (30) days after receipt by the Company of written notice of Indemnitee’s choice of forum pursuant to Section 8(c) above, the Company and Indemnitee shall each submit to the Reviewing Party such
information as they believe is appropriate for the Reviewing Party to consider. The Reviewing Party shall arrive at its decision within a reasonable period of time following the receipt of all such information from the Company and Indemnitee, but in
no event later than thirty (30) days following the receipt of all such information, provided that the time by which the Reviewing Party must reach a decision may be extended by mutual agreement of the Company and Indemnitee. All Expenses
associated with the process set forth in this Section 8(d), including but not limited to the Expenses of the Reviewing Party, shall be paid by the Company. 

(e)    Delaware Court of Chancery. Notwithstanding a final determination by any Reviewing Party that Indemnitee is
not entitled to indemnification with respect to a specific Proceeding, Indemnitee shall have the right to apply to the Court of Chancery, for the purpose of enforcing Indemnitee’s right to indemnification pursuant to this Agreement. 

(f)    Expenses. The Company shall indemnify Indemnitee against all Expenses incurred by Indemnitee in connection
with any hearing or Proceeding under this Section 8 involving Indemnitee and against all Expenses and Other Liabilities incurred by Indemnitee in connection with any other Proceeding between the Company and Indemnitee involving the
interpretation or enforcement of the rights of Indemnitee under this Agreement unless a court of competent jurisdiction finds that each of the material claims of Indemnitee in any such Proceeding was frivolous or made in bad faith. 

(g)    Determination of “Good Faith”. For purposes of any determination of whether Indemnitee acted in
“good faith” or acted in “bad faith,” Indemnitee shall be deemed to have acted in good faith or not acted in bad faith if in taking or failing to take the action in question Indemnitee relied on the records or books of account of
the Company or a Subsidiary or Affiliate, including financial statements, or on information, opinions, reports or statements provided to Indemnitee by the officers or other employees of the Company or a Subsidiary or Affiliate in the course of their
duties, or on the advice of legal counsel for the Company or a Subsidiary or Affiliate, or on information or records given or reports made to the Company or a Subsidiary or Affiliate by an independent certified public accountant or by an appraiser
or other expert selected by the Company or a Subsidiary or Affiliate, or by any other person (including legal counsel, accountants and financial advisors) as to matters Indemnitee reasonably believes are within such other person’s professional
or expert competence and who has been selected with reasonable care by or on behalf of the Company or a Subsidiary or Affiliate. In connection with any determination as to whether Indemnitee is entitled to be indemnified hereunder, or to advancement
of Expenses, the Reviewing Party or court shall presume that Indemnitee has satisfied the applicable standard of conduct and is entitled to indemnification or advancement of Expenses, as the case may be, and the burden of proof shall be on the
Company to establish, by clear and convincing evidence, that Indemnitee is not so entitled. The provisions of this Section 8(g) shall not be deemed to be exclusive or to limit in any way the other circumstances in which Indemnitee may be deemed
to have met the applicable standard of conduct set forth in this Agreement. In addition, the knowledge and/or actions, or failures to act, of any other person serving the Company or a Subsidiary or Affiliate as an Indemnifiable Person shall not be
imputed to Indemnitee for purposes of determining the right to indemnification hereunder. 
 9.    Exceptions.
Any other provision herein to the contrary notwithstanding, 
 (a)    Claims Initiated by Indemnitee. The Company
shall not be obligated pursuant to the terms of this Agreement to indemnify or advance Expenses to Indemnitee with respect to Proceedings or claims initiated or brought voluntarily by Indemnitee and not by way of defense, except

  
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(1) with respect to Proceedings brought to establish or enforce a right to indemnification under this Agreement, any other statute or law, as permitted under Section 145, or otherwise,
(2) where the Board has consented to the initiation of such Proceeding, or (3) with respect to Proceedings brought to discharge Indemnitee’s fiduciary responsibilities, whether under ERISA or otherwise, but such indemnification or
advancement of Expenses may be provided by the Company in specific cases if the Board finds it to be appropriate; or 

(b)    Actions Based on Federal Statutes Regarding Profit Recovery and Return of Bonus Payments. The Company shall
not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee on account of (i) any suit in which judgment is rendered against Indemnitee for an accounting of profits made from the purchase or sale by Indemnitee of securities
of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of l934 and amendments thereto or similar provisions of any federal, state or local statutory law, or (ii) any reimbursement of the Company by the
Indemnitee of any bonus or other incentive-based or equity-based compensation or of any profits realized by the Indemnitee from the sale of securities of the Company, as required in each case under the Exchange Act (including any such reimbursements
that arise from an accounting restatement of the Company pursuant to Section 304 of the Sarbanes-Oxley Act of 2002 (the “Sarbanes-Oxley Act”), or the payment to the Company of profits arising from the purchase and sale
by Indemnitee of securities in violation of Section 306 of the Sarbanes-Oxley Act); or 
 (c)    Unlawful
Indemnification. The Company shall not be obligated pursuant to the terms of this Agreement to indemnify Indemnitee for Other Liabilities if such indemnification is prohibited by law as determined by a court of competent jurisdiction in a final
adjudication not subject to further appeal. 
 10.    Non-exclusivity.
The provisions for indemnification and advancement of Expenses set forth in this Agreement shall not be deemed exclusive of any other rights which Indemnitee may have under any provision of law, the Company’s Certificate of Incorporation or
Bylaws, the vote of the Company’s stockholders or disinterested directors, other agreements, or otherwise, both as to acts or omissions in his or her official capacity and to acts or omissions in another capacity while serving the Company or a
Subsidiary or Affiliate as an Indemnifiable Person and Indemnitee’s rights hereunder shall continue after Indemnitee has ceased serving the Company or a Subsidiary or Affiliate as an Indemnifiable Person and shall inure to the benefit of the
heirs, executors and administrators of Indemnitee. 
 11.    Severability. If any provision or provisions of this
Agreement shall be held to be invalid, illegal or unenforceable for any reason whatsoever, (i) the validity, legality and enforceability of the remaining provisions of the Agreement (including, without limitation, all portions of any paragraphs
of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or unenforceable) shall not in any way be affected or impaired thereby, and (ii) to the fullest extent
possible, the provisions of this Agreement (including, without limitation, all portions of any paragraphs of this Agreement containing any such provision held to be invalid, illegal or unenforceable, that are not themselves invalid, illegal or
unenforceable) shall be construed so as to give effect to the intent manifested by the provision held invalid, illegal or unenforceable. 

12.    Supersession, Modification and Waiver. This Agreement supersedes any prior indemnification agreement between
the Indemnitee and the Company, its Subsidiaries or its Affiliates. If the Company and Indemnitee have previously entered into an indemnification agreement providing for the indemnification of Indemnitee by the Company, parties entry into this
Agreement shall be deemed to amend and restate such prior agreement to read in its entirety as, and be superseded by, this Agreement. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing

  
 8 

 
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 provision hereof (whether or not similar) and except
as expressly provided herein, no such waiver shall constitute a continuing waiver. 
 13.    Successors and
Assigns. The terms of this Agreement shall bind, and shall inure to the benefit of, and be enforceable by the parties hereto and their respective successors (including any direct or indirect successor by purchase, merger, consolidation or
otherwise to all or substantially all of the business and/or assets of the Company), assigns, spouses, heirs and personal and legal representatives. In addition, the Company shall require and cause any successor (whether direct or indirect by
purchase, merger, consolidation or otherwise) to all, substantially all, or a substantial part, of the business and/or assets of the Company, by written agreement in form and substance satisfactory to Indemnitee, expressly to assume and agree to
perform this Agreement and indemnify Indemnitee to the fullest extent permitted by law. 
 14.    Notice.
All notices, requests, demands and other communications under this Agreement shall be in writing and shall be deemed duly given (i) if delivered by hand and a receipt is provided by the party to whom such communication is delivered,
(ii) if mailed by certified or registered mail with postage prepaid, return receipt requested, on the signing by the recipient of an acknowledgement of receipt form accompanying delivery through the U.S. mail, (iii) personal service by a
process server, or (iv) delivery to the recipient’s address by overnight delivery (e.g., FedEx, UPS or DHL) or other commercial delivery service. Addresses for notice to either party are as shown on the signature page of this Agreement, or
as subsequently modified by written notice complying with the provisions of this Section 14. Delivery of communications to the Company with respect to this Agreement shall be sent to the attention of the Company’s Chief Financial Officer.

 15.    No Presumptions. For purposes of this Agreement, the termination of any Proceeding, by judgment, order,
settlement (whether with or without court approval) or conviction, or upon a plea of nolo contendere or its equivalent, shall not, of itself, create a presumption that Indemnitee did not meet any particular standard of conduct or have any particular
belief or that a court has determined that indemnification is not permitted by applicable law or otherwise. In addition, neither the failure of the Company or a Reviewing Party to have made a determination as to whether Indemnitee has met any
particular standard of conduct or had any particular belief, nor an actual determination by the Company or a Reviewing Party that Indemnitee has not met such standard of conduct or did not have such belief, prior to the commencement of Proceedings
by Indemnitee to secure a judicial determination by exercising Indemnitee’s rights under Section 8(e) of this Agreement shall be a defense to Indemnitee’s claim or create a presumption that Indemnitee has failed to meet any particular
standard of conduct or did not have any particular belief or is not entitled to indemnification under applicable law or otherwise. 

16.    Survival of Rights. The rights conferred on Indemnitee by this Agreement shall continue after Indemnitee has
ceased to serve the Company or a Subsidiary or Affiliate of the Company as an Indemnifiable Person and shall inure to the benefit of Indemnitee’s heirs, executors and administrators. 

17.    Subrogation and Contribution.    (a) Except as otherwise expressly provided in
this Agreement, in the event of payment under this Agreement, the Company shall be subrogated to the extent of such payment to all of the rights of recovery of Indemnitee, who shall execute all documents required and shall do all acts that may be
necessary to secure such rights and to enable the Company effectively to bring suit to enforce such rights. 
 (b) To the fullest extent
permissible under applicable law, if the indemnification provided for in this Agreement is unavailable to Indemnitee for any reason whatsoever, the Company, in lieu of indemnifying Indemnitee, shall contribute to the amount incurred by or on behalf
of Indemnitee, 

  
 9 

 
whether for judgments, fines, penalties, excise taxes, amounts paid or to be paid in settlement and/or for Expenses, in connection with any claim relating to an indemnifiable event under this
Agreement, in such proportion as is deemed fair and reasonable in light of all of the circumstances of such Proceeding in order to reflect (i) the relative benefits received by the Company and Indemnitee as a result of the event(s) and/or
transaction(s) giving cause to such Proceeding; and/or (ii) the relative fault of the Company (and its directors, officers, employees and agents) and Indemnitee in connection with such event(s) and/or transaction(s). 

18.    Specific Performance, Etc. The parties recognize that if any provision of this Agreement is violated by the
Company, Indemnitee may be without an adequate remedy at law. Accordingly, in the event of any such violation, Indemnitee shall be entitled, if Indemnitee so elects, to institute Proceedings, either in law or at equity, to obtain damages, to enforce
specific performance, to enjoin such violation, or to obtain any relief or any combination of the foregoing as Indemnitee may elect to pursue. 

19.    Counterparts. This Agreement may be executed in 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. Only one such counterpart signed by the party against whom enforceability is sought needs to be produced to evidence the existence of this Agreement. 

20.    Headings. The headings of the sections and 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 or interpretation thereof. 

21.    Governing Law. This Agreement shall be governed exclusively by and construed according to the laws of the
State of Delaware, as applied to contracts between Delaware residents entered into and to be performed entirely with Delaware. 

22.    Consent to Jurisdiction. The Company and Indemnitee each hereby irrevocably consent to the jurisdiction of
the courts of the State of Delaware for all purposes in connection with any Proceeding which arises out of or relates to this Agreement. 

[Signature Page Follows] 

  
 10 

 The parties hereto have entered into this Indemnity Agreement effective as of the date first
above written. 
  

					
		 	 SUTRO BIOPHARMA,
INC.:

 
					
			
		 	By:	 	 
			
		 	Its:	 	 

  

					
		
		 	INDEMNITEE:
			
		 		 	 
			
	Address:	 		 	 
			
		 		 	 

  
 SIGNATURE PAGE TO
INDEMNIFICATION AGREEMENT

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