Document:

exv10w7

 

EXHIBIT 10.7

                    

	 	 	 	 	 	 	 	 
	 	Northwest

	 	 	t (425) 608-3008
	 	 	www.nwbio.com 
	 	Biotherapeutics, Inc.

	 	 	    (800) 519-0755
	 	 	OTCBB: NWBT
	 	 

	 	 	f (425) 608-3009	 	 	 
	 	18701 120th Avenue NE
	 	 	 	 	 	 
	 	Suite 101
	 	 	 	 	 	 
	 	Bothell, WA 98011
	 	 	 	 	 	 

June 18, 2007

Dr. Jim Johnston

18701 120th Avenue NE, Suite 101

Bothell, WA 98011

Dear Mr. Johnston:

Your service to Northwest Biotherapeutics has been valuable and much appreciated over the past
year. The Board of Directors proposes to enter into an employment agreement with you for up to one
year of service in the senior management of the Company, with the following key terms, conditional
upon the Admission to trading of the Company’s AIM Placing shares:

	 	•	 	Title: CFO and Chief General Counsel
	 
	 	•	 	Term: Up to 1 year
	 
	 	•	 	Annual Salary: $180,000 for devotion of 60% of your time to Company business (a
full-time rate of $300,000).
	 
	 	•	 	Equity: 66,667 options to purchase Common Stock of the Company to be granted as
promptly as practicable after Admission of the AIM Placing Shares for trading. Vesting
shall occur over the 1-year employment term as defined in the Stock Option Grant Notice.
	 
	 	•	 	Termination: Employment will be at will. You may resign and at time with the
notice required below or without such notice (in which case certain consequences will apply
as described below). The Company may terminate your employment “For Cause” or “Without
Cause.” “Cause” is defined as, but not limited to, malfeasance, material non-performance or
materially inadequate performance of your duties following written notice or other
communication from the Board of such inadequate performance and a reasonable period of time
to cure it one time.
	 
	 	•	 	Effect of termination or resignation on options: Vesting of your stock
options will cease upon the termination of your employment or resignation.

	 	•	 	If your employment is terminated For Cause, options which are already
vested as of the date of termination shall expire 24 hours after such termination.

 

 

	 	•	 	If your employment is terminated Without Cause, options will be exercisable for
up to their full exercise period, so long as you execute a separation and release
agreement reasonably acceptable to the Company, and you do not work for or with a
Competing Company (as defined below) in any capacity (employee, director, adviser,
collaborator, etc.) for one year following the termination of your employment. The
term “Competing Company” means a business that is developing immunotherapies for
cancer.
	 
	 	•	 	If you resign, the vesting of your options will cease. If your
resignation complies with the notice, best efforts and good faith requirements
below, your options will be exercisable for 45 days following the last day of your
employment. If your resignation does not comply with the notice, best efforts and
good faith requirements below, your options will only be exercisable for 15 days
following the last day of your employment.

	 	•	 	Outside activities: During the term of this Agreement, you shall not engage in
any outside business activities except with express prior approval of the Board.
	 
	 	•	 	Non-competition: You agree not to work for or with any Competing Company (as
defined above) for 1 year after resignation, termination or expiration of your employment
with the Company. You must execute a non-competition agreement with the Company providing
for this arrangement.
	 
	 	•	 	Assignment of inventions; confidentiality: All inventions conceived or
developed by you during your employment by the Company must be assigned to the Company.
You must also execute the Company’s standard invention assignment agreement and a limited
power of attorney enabling the Company to make filings and take actions necessary to
implement your assignments of inventions. You must also execute the standard
confidentiality agreement.
	 
	 	•	 	Vacation and sick leave: 12 business days of vacation (based upon a full-time
rate of 4 weeks of vacation, pro rated to your employment by the Company for 60% of your
time), no carryover (use it or lose it) except in special circumstances with prior Board
approval and then only up to 2 weeks; 6 business days of sick leave (based upon a full-time
rate of 2 weeks of sick leave, pro rated to your employment by the Company for 60% of your
time), to be used only for sickness and medical appointments for yourself or family
members.
	 
	 	•	 	Notice of resignation: If you resign, you will give at least 45 days advance
notice, and during those 45 days will devote best efforts, in good faith, to the Company’s
business and any personnel transition. Failure to give 45 days notice will result in
clawback of any bonuses paid to you and option vesting that occurred in the 135 days prior
to the resignation announcement.

 

 

The Board hopes that you will find these terms agreeable. If so, please indicate your acceptance
by countersigning below. We look forward to your continued important role in the Company for the
next several years.

Sincerely,

	 	 	 	 	 	 	 
	NWBT BOARD OF DIRECTORS	 	I have read and accept this employment offer:

	By:

	 	 	 	By:	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	 
	 	 	 	 
	Name:

	 	 	 	Name:	 	 
	Title:
	 	 	 	 	 	 
	Date:

	 	 	 	Date:exv10w8

 

EXHIBIT 10.8

	 	 	 	 	 	 	 
	

	 	Northwest

Biotherapeutics, Inc.

18701 120th Avenue NE

Suite 101

Bothell, WA 98011
	 	t (425) 608-3008

  (800) 519-0755

f (425) 608-3009
	 	www.nwbio.com

OTCBB: NWBT

June 15, 2007

Ms. Linda Powers

9306 Kendale Road

Potomac, Maryland 20854

Dear Ms. Powers:

On behalf of the Board of Directors of Northwest Biotherapeutics, Inc. (the “Company”), we are
delighted that you have accepted the invitation to join the Board of Directors as the Chairperson
of the Board with effect from May 17, 2007. This letter, the terms of which are conditioned on the
admission of the Company’s share of common stock to trading on the London Stock Exchange’s AIM
market, confirms the terms of your appointment to the Board of Directors and as the Chairperson of
the Board.

Your appointment will continue, and the terms of this letter will apply, until terminated pursuant
to the bylaws of the Company.

In your role as a member of the Board of Directors and Chairperson of the Board, you will be
expected to attend all meetings of the Board of Directors of the Company and general meetings of
the Company’s stockholders and such other meetings relating to the Company as it is appropriate for
you to attend for the performance of your role. Prior to each meeting of the Board, you will be
informed of the time and location of the meeting and will receive copies of any relevant documents
to be discussed at the meeting to the extent that you did not arrange the time or location of the
meeting or prepare copies of the relevant documents.

Your compensation for service on the Board of Directors will be approximately £4,167 per month
(equivalent to £50,000 per year), paid in monthly installments on the first business day following
the month in which it is earned. To receive each payment, you must be Director of the Company on
the last day of the month for which it is earned. While the Company anticipates that your annual
compensation will not be decreased in subsequent years, the Company reserves the right to modify
your compensation prior to the beginning of any calendar year. You may also be eligible for grants
under the 2007 Stock Option Plan, which will be determined in the Company’s discretion.

As a Director, you will be required to comply with the reporting and trading requirements of
Section 16 of the Securities Exchange Act of 1934 and the Company’s share trading policy. Please
contact Jim Johnston for more information on the requirements of the Act and the Company’s internal
compliance procedures.

 

 

In addition to the indemnification provisions in the Company’s bylaws and certificate of
incorporation, the Company will enter into an indemnification agreement with each director, a copy
of which is attached.

If you are asked to join the board of another company, please be aware that you are required to
discuss the invitation with me or Jim Johnston so that we can determine whether there are any
present or potential conflicts associated with joining the other board.

We look forward to having you join us as a member of the Board. I would appreciate you contacting
me to discuss this matter further if you have any questions.

Very truly yours,

Alton L. Boynton

President & Chief Executive Officer

Attachment

Linda F. Powers:                                
           

Date:exv10w9

 

EXHIBIT 10.9

	 	 	 	 	 	 	 
	

	 	Northwest

Biotherapeutics, Inc.

18701 120th Avenue NE

Suite 101

Bothell, WA 98011
	 	t (425) 608-3008

  (800) 519-0755

f (425) 608-3009
	 	www.nwbio.com

OTCBB: NWBT

June 14, 2007

Mr. R. Steve Harris

Old Tiles

Westwood Road

Windlesham

Surrey

GU20 6NB

Dear Mr. Harris:

On behalf of the Board of Directors of Northwest Biotherapeutics, Inc. (the “Company”), I wish to
extend to you an invitation to join the Board of Directors. Your appointment is conditioned on the
admission of the Company’s shares of common stock to trading on the London Stock Exchange’s AIM
market and will be effective from the date of such admission.

Your appointment will continue, and the terms of this letter will apply, until terminated pursuant
to the bylaws of the Company.

In your role as a member of the Board of Directors, you will be expected to attend all meetings of
the Board of Directors of the Company and general meetings of the Company’s stockholders and such
other meetings relating to the Company as it is appropriate for you to attend for the performance
of your role. Prior to each meeting of the Board, you will be informed of the time and location of
the meeting and will receive copies of any relevant documents to be discussed at the meeting.

Your compensation for service on the Board of Directors will be approximately £2,500 per month
(equivalent to £30,000 per year), paid in monthly installments on the first business day following
the month in which it is earned. To receive each payment, you must be Director of the Company on
the last day of the month for which it is earned. While the Company anticipates that your annual
compensation will not be decreased in subsequent years, the Company reserves the right to modify
your compensation prior to the beginning of any calendar year. You may also be eligible for grants
under the 2007 Stock Option Plan, which will be determined in the Company’s discretion.

As a Director, you will be required to comply with the reporting and trading requirements of
Section 16 of the Securities Exchange Act of 1934 and the Company’s share trading policy. Please
contact Jim Johnston for more information on the requirements of the Act and the Company’s internal
compliance procedures.

 

 

In addition to the indemnification provisions in the Company’s bylaws and certificate of
incorporation, the Company will enter into an indemnification agreement with each director, a copy
of which is attached.

If you are asked to join the board of another company, please be aware that you are required to
discuss the invitation with me or Jim Johnston so that we can determine whether there are any
present or potential conflicts associated with joining the other board.

We look forward to having you join us as a member of the Board. I would appreciate you contacting
me to discuss this matter further if you have any questions. I would be grateful if you would
indicate your acceptance of your appointment by signing the attached copy of this letter.

Very truly yours,

Alton L. Boynton

President & Chief Executive Officer

Attachment

Steve Harris:                                    
             

Date:

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