SEC Contract Filing

Filing Date: 2024-05-30

Document Content:
<DOCUMENT>
<TYPE>EX-10.1
<SEQUENCE>3
<FILENAME>ex_680310.htm
<DESCRIPTION>EXHIBIT 10.1
<TEXT>
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<p style="margin: 0px 0pt; text-align: right; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt"><b>Exhibit 10.1</b></font></p>

<p style="margin: 0px 0pt; text-align: left; font-size: 10pt; font-family: &quot;Times New Roman&quot;;"><font style="font-family: 'Times New Roman', Times, serif; font-size: 10pt">&nbsp;</font></p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>CLENE INC.</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:center;margin:0pt;"><b>AMENDED 2020 STOCK PLAN</b></p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">1. &nbsp; &nbsp;<b>Purpose</b>. The purpose of this Amended 2020 Stock Plan (the &#8220;<b><i>Plan</i></b>&#8221;) is to enable Clene Inc., a Delaware corporation (the &#8220;<b><i>Company</i></b>&#8221;), to attract and retain the services of (i) selected employees, officers, and directors of the Company or any parent or subsidiary of the Company, and (ii) selected nonemployee agents, consultants, advisers, and independent contractors of the Company or any parent or subsidiary of the Company. For purposes of this Plan, a person is considered to be employed by or in the service of the Company if the person is employed by or in the service of any entity (the &#8220;<b><i>Employer</i></b>&#8221;) that is either the Company or a parent or subsidiary of the Company.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">2. &nbsp; &nbsp;<b>Shares Subject to the Plan</b>. Subject to adjustment as provided below and in <b>Section 8</b>, the shares to be offered under the Plan shall consist of Common Stock of the Company (&#8220;<b><i>Common Stock</i></b>&#8221;), and the total number of shares of Common Stock that may be issued under the Plan shall be forty-eight million four hundred thousand (48,400,000) shares, all of which may be issued pursuant to Incentive Stock Options or any other type of award under the Plan. If an option or other award granted under the Plan expires, terminates or is canceled, the unissued shares subject to that option or award shall again be available under the Plan. If shares awarded pursuant to the Plan are forfeited to or repurchased at original cost by the Company, the number of shares forfeited or repurchased at original cost shall again be available under the Plan.</p>

<p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;">&nbsp;</p>

<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">3. &nbsp; &nbsp;<b>Effective Date and Duration of Plan</b>.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:50pt;">3.1 &nbsp; &nbsp;<b><i>Effective Date</i></b>. The Plan was adopted by the board of directors of the Company (the &#8220;<b><i>Board of Directors</i></b>&#8221;) and became effective as of December 28, 2020 (the &#8220;<b><i>Effective Date</i></b>&#8221;). The Plan was approved by the Company&#8217;s stockholders on December 30, 2020. Options and stock awards pursuant to <b>Section 7</b> (&#8220;<b><i>Stock Awards</i></b>&#8221;) may be granted at any time after the Effective Date and before termination of the Plan. An amendment to the Plan to increase the total number of shares of Common Stock that may be issued under the plan was adopted by the Board of Directors on March 27, 2023 and approved by the Company&#8217;s stockholders on May 9, 2023.&nbsp;A second&nbsp;amendment to the Plan to increase the total number of shares of Common Stock that may be issued under the plan was adopted by the Board of Directors on April 3, 2024&nbsp;and approved by the Company&#8217;s stockholders on May 29, 2024.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:50pt;">3.2 &nbsp; &nbsp;<b><i>Duration</i></b>. The Plan shall continue in effect until the earlier of (i) the date that is 10 years after the Effective Date or (ii) such time as all shares available for issuance under the Plan have been issued and all restrictions on the shares have lapsed. The Board of Directors may suspend or terminate the Plan at any time except with respect to options Stock Awards then outstanding under the Plan. No options or Stock Awards may be granted under the Plan after termination of the Plan. Termination shall not affect any outstanding awards, any right of the Company to repurchase shares or the forfeitability of shares issued under the Plan.</p>

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<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;text-indent:25pt;">4. &nbsp; &nbsp;<b>Administration</b>.</p>

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