Company Announcements

Alice’s Morality Clause

January 13, 2020
< 1 minute

Upon the occurrence of a Morals Event with respect to the Series Seed Director, the Series A-1 Director or the Joint Director (such director being an “Applicable Director”), if all members of the Board other than the Applicable Director notify the Company and the Applicable Director in writing that they wish to remove the Applicable Director from the Board as a result of the Morals Event, then the Stockholders shall, as soon as practicable thereafter, vote or act with respect to all of their respective Shares so as to remove the Applicable Director from the Board and such Applicable Director shall not thereafter be appointed or be eligible to be appointed to the Board pursuant Section 1.2(a), 1.2(b) or 1.2(d) of this Agreement, as applicable. For purposes of this Agreement, a “Morals Event” means an event, circumstance, action or inaction by the Series Seed Director, the Series A-1 Director or the Joint Director (including, without limitation, a #MeToo event, a racial discrimination, and/or sexual orientation discrimination) (A) involving moral turpitude under federal, state or local laws, (B) which might tend to bring to such Director public disrepute, contempt, scandal or ridicule, (C) which may embarrass, offend, insult or denigrate individuals or groups, or may shock, insult or offend the community or the Company’s workforce or public morals or decency or prejudice the Company, (D) which results in or is likely to result in actual or threatened claims against the Company, or (E) which otherwise may might tend to reflect unfavorably upon the Company.

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