AMENDMENT
NO. 1


EXECUTIVE
EMPLOYMENT AGREEMENT


 


This
is Amendment No. 1 (the “Amendment”) to the Executive Employment Agreement (“Agreement”)
dated April 8, 2019, by and between PolarityTE, Inc., a Delaware corporation (“Parent”) and Richard Hague,
an individual (“Executive”). Capitalized terms not defined herein, but defined in the Employment Agreement,
shall have the meaning stated in the Employment Agreement.


 


1.
Section 4 of the Agreement is superseded and replaced in its entirety by the following:


 


4.
Employment Term. The term of this Agreement shall commence on the Effective Date and shall continue through June 30, 2021
and shall be automatically renewed for successive one (1) year periods thereafter unless either party provides the other party
with written notice of his or its intention not to renew this Agreement at least three (3) months prior to the expiration of the
initial term or any renewal term of this Agreement. “Employment Period” shall mean the initial term ending
June 30, 2021, plus one (1) year renewals, if any.


 


2.
Section 5 of the Agreement is superseded and replaced in its entirety by the following:


 


5.
Base Salary and Board Fees. The Parent agrees to pay the Executive a base salary (“Base Salary”) for
the position of Chief Operating Officer as follows:


 


(a)
from the Effective Date through June 30, 2019, $370,000 per annum,


(b)
from July 1, 2019, through June 30, 2021, $185,000 per annum, and


(c)
during any renewal term after June 30, 2021, $370,000 per annum.


 


The
Base Salary shall be paid in periodic installments in accordance with the Parent’ s regular payroll practices. Executive
shall, subject to policies and procedures of the Parent’s Board of Directors, be eligible for additional fees for service
on the Parent’s Board


 


3.
Section 5 of the Agreement is amended by the addition of the following Section 5(c):


 


(c)
Effective July 1, 2019, the Company grants to the Executive restricted shares under the 2019 Equity Incentive Plan (the “2019
Plan”) for a number of shares equal to $740,000 divided by the Fair Market Value on June 28, 2019, rounded to the nearest
whole share, which will vest in one installment of approximately 8.3% on August 31, 2019, and the remainder in twenty-two (22)
consecutive monthly installments beginning in September 2019, all as provided for in a written restricted share agreement.


 




    	 	 	 



    	 



    

 


4.
For purposes of notice and other communications given under Section 15(f) of the Agreement, the address for the Parent is:


 


PolarityTE,
Inc.


Attn:
General Counsel


123
Wright Brothers Drive


Salt
Lake City, UT 84116


 


And
the address for the Executive is:


 


Richard
Hague


1542
Harvard Ave


Salt
Lake City, UT. 84105


 


5.
Except for the changes stated above, this Amendment does not make any change or modification to the Agreement, and the Agreement
remains in full force and effect with the changes made by this Amendment.


 


Agreed
and entered into this 28th day of June 2019.


 


	 	POLARITYTE,
    INC.
	 	 	 
	 	By	/s/
    Paul Mann           
	 	Name:	Paul
    Mann
	 	Title:	CFO
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	/s/ Richard Hague
	 	Richard Hague


 




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