Document:

Exhibit 10.1

 

 

 

 

September 17, 2013

 

Greg Slusser

19960 Sweetwater Curve

Shorewood, MN 55331

 

Dear Greg:

 

On behalf of Baxano Surgical, Inc., I am pleased to offer you
the position of Vice President of Commercial Operations, reporting to our President and CEO, Ken Reali. If you accept our
offer, we would like to plan for a start date of October 7, 2013.

 

Be advised that this offer shall be contingent upon board
approval, and the successful completion of all background checks, including criminal, identity, professional, academic and credit,
as well as work and personal references. 

 

The following describes the terms of our offer of employment
to you.

 

Job Responsibilities:

 

As Vice President of Commercial Operations,
your core function will encompass the classic executive management responsibilities to build and maintain a productive and profitable
sales organization.

 

You will be expected to devote your full business
time and best efforts to the performance of your duties and responsibilities and to abide by Company policies and procedures that
may be changed from time to time.

 

Your primary office work location will be our home office in
Raleigh, NC.

 

Compensation:

 

Your base salary will be at the annual
rate of Two Hundred Seventy-Five Thousand Dollars ($275,000) (less applicable payroll deductions), and will be paid in installments
in accordance with the Company’s payroll period (currently semi-monthly).

 

You will also be eligible for an annual target
bonus of thirty-five (35%) percent of your annual base salary, and based upon specific objectives established in collaboration
with our President and CEO, as well as corporate bonus plan criteria. The bonus for 2013 will be prorated to recognize your achievement
in the fourth quarter.

 

Benefits:

 

During your
employment, you will be entitled to participate in all benefit plans made available to Baxano Surgical employees in comparable
positions, subject to associated plan terms and Company policies. Initially, you will begin earning paid Vacation time at
a rate of two (2) weeks per year. See the enclosed Benefits Brochure for details. 

 

www.baxanosurgical.com

 

Corporate Headquarters

 110 Horizon Dr., Suite 230

Raleigh, NC 27615

866-256-1206 * 919-825-0872

HR Fax- 866.954.8873

  

    	 

    	 

    

 

Stock Options:

 

As part of this offer, and following the
Board of Directors approval, you will be granted options to purchase 125,000 shares of common stock of Baxano Surgical. The price
per share will be established as the fair market value at the time your employment commences. Once granted, the stock options shall
vest 25% on the first anniversary date of your employment with the Company and thereafter will vest in thirty-six equal monthly
installments. These options are subject to the conditions outlined in the Company’s 2007 Stock Incentive Plan, including
your continued employment. A copy of the Plan will be given to you on your acceptance of this offer.

 

Relocation:

 

Baxano Surgical will pay up to a gross amount of $90,000 in
documented relocation costs provided they are submitted for reimbursement before June 1, 2014 or a date agreed to by the President
and CEO. In the meantime, Baxano Surgical will pay for the cost of temporary housing (lease and utilities) expenses. All expenses
will require proper recording and approval by the President and CEO to qualify for reimbursement. Be advised that expenses not
directly associated with relocation are normally considered to be taxable income to you. Human Resources will provide guidance
to minimize this exposure and be available assistance throughout the process.

 

Should you resign your employment with Baxano Surgical during
the first twelve (12) months after the actual date of your completed relocation, one hundred (100%) percent of the relocation monies
paid to you or on your behalf up until that point will be paid back to Baxano Surgical. Should you resign your employment with
Baxano Surgical before you have completed twenty-four (24) months of your employment after the actual date of your completed relocation,
fifty (50%) percent of the relocation monies paid to you or on your behalf up until that point will be paid back to Baxano Surgical.

 

Employment Integrity:

 

This employment offer is contingent upon your
successful completion of our standard background review.

 

Because this new position carries great responsibility
and exercises authority which directly affects business performance, we have included a Confidentiality, Intellectual Property,
Non-Compete and Non-Solicitation Agreement with this offer, which you must sign and return to the Company before your employment
begins.

 

By your signature below, you represent
and warrant to the Company that you: (i) are not subject to any employment, noncompetition or other similar agreement that would
prevent or interfere with the Company’s employment of you on the terms set forth herein; and (ii) have not brought and will
not bring with you to the Company, any materials or documents of a former employer which are not generally available to the public
or which did not belong to you prior to your employment with the Company, unless you have obtained written authorization from the
former employer or other owner for their possession and use, and provided the Company with a copy thereof.

 

The Company operates under the doctrine of
employment “at-will.” Either you or the Company has the right to terminate the employment relationship
at any time, for any reason, with or without cause or notice. Nothing in this offer creates, or is intended to create, a fixed
term of employment, whether express or implied, and shall not be interpreted as a guarantee of employment for any period of time
or as an agreement or contract of any nature.

 

    	 

    	 

    

 

___________________

 

This offer will remain open for a period
of three (3) business days. Please advise regarding your interest in accepting this position during this time, as well as any questions
you may have. Before you begin work, please sign and return a copy of this offer letter and associated PIA to me.

 

866.954.8873 (fax) * tod.mcdonald@baxsurg.com

 

 

We are looking forward to having you join
the Baxano Surgical Team and contributing to the continued growth and success of the Company.

 

Sincerely,

 

/s/ J. Tod McDonald

J. Tod McDonald

Senior HR Director

 

 

Accepted:

 

/s/ Greg Slusser

Greg Slusser

 

Date: 17 September 2013

 

 

CC: Ken Reali, President and CEOSTOCK PURCHASE AGREEMENT

 

THIS STOCK PURCHASE AGREEMENT (this “Agreement”)
dated as of September 17, 2013 by and between each seller identified on the signature page hereto (each a “Seller”
and, collectively, the “Sellers”) and Green Forest Management Consulting Inc. (the “Purchaser”).

 

RECITALS

 

A.  Sellers own a total of 7,160,000
shares of the issued and outstanding shares of common stock (the “Shares”) of Da Ren International Development Inc.,
a Taiwan corporation (the "Company").

 

B. Pursuant to the terms and conditions
of this Agreement, Sellers desire to sell, and Purchaser desires to purchase, all of the Sellers’ rights, title and interest
in and to all of the Company’s shares held by Sellers (the “Da Ren Shares”) as further described herein.

 

C. Following the Purchaser’s acquisition
of the Da Ren Shares, Sellers will relinquish their entire interests in the Company, including all Company assets, and Purchaser
will become the majority owner of the Company and will assume responsibility for overseeing the management, property and personnel
of the Company.

 

NOW, THEREFORE, in consideration of the
covenants, promises and representations set forth herein, and for other good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, and intending to be legally bound hereby, the parties agree as follows:

 

1.          Incorporation
of Recitals. The recitals set forth above are incorporated herein by reference.

 

2.         Agreement to Purchase and Sell.  Subject
to the terms and conditions of this Agreement, simultaneous with the execution and delivery of this Agreement, Sellers shall sell,
assign, transfer, convey and deliver to Purchaser, and Purchaser shall accept and purchase, the Da Ren Shares and any and all rights
in the Da Ren Shares to which Sellers are entitled, and by doing so Sellers shall be deemed to have assigned all of their rights,
title and interest in and to the Da Ren Shares to Purchaser.  Such sale of the Da Ren Shares shall be evidenced by stock
certificates, duly endorsed in blank or accompanied by stock powers duly executed in blank or other instruments of transfer in
form and substance reasonably satisfactory to the transfer agent of the Company or the Company, in the event the Company has no
transfer agent.

 

3.           Consideration.  In
consideration for the sale of the Da Ren Shares, Purchaser shall deliver to Ninety One Million Nine Hundred Ninety Six Thousand
Five Hundred Twenty Four New Taiwan Dollars (TWD $91,996,524), (the “Purchase Price”). The Purchase Price shall be
paid in the form of a TWD $91,996,524 promissory note (the “Promissory Note”) from the Purchaser to the Sellers in
the form attached hereto as Exhibit A. The amount deliverable to each individual Seller under the Promissory Note is enumerated
in Annex A to Exhibit A, attached hereto.

 

4.           Closing;
Deliverables.

 

(a)           The
purchase and sale of the Da Ren Shares shall be held concurrently with the execution of this Agreement (the “Closing”).

 

(b)           At
the Closing  (1) Sellers shall deliver to Purchaser (A) stock certificates evidencing the Da Ren Shares, duly endorsed
in blank or accompanied by stock powers duly executed in blank, or other instruments of transfer in a form and substance reasonably
satisfactory to the Purchaser, (B) any documentary evidence of the due recordation in the Company’s share register of Purchaser’s
full and unrestricted title to the Shares, and (C) such other documents as may be required under applicable law or reasonably requested
by Purchaser and (2) Purchaser shall deliver to Sellers the duly executed Promissory Note in the principal amount specified on
Exhibit A.

 

5.           Representations
and Warranties of Sellers.  As an inducement to Purchaser to enter into this Agreement and to consummate the
transactions contemplated herein, each Seller represents and warrants to Purchaser as follows:

 

    	 

    	 

    

  

5.1           Authority.  Seller
has the right, power, authority and capacity to execute and deliver this Agreement, to consummate the transactions contemplated
hereby and to perform his or her obligations under this Agreement.  This Agreement constitutes the legal, valid and binding
obligations of Seller, enforceable against Seller in accordance with the terms hereof.

 

5.2           Ownership.  Seller
is the sole record and beneficial owner of the Da Ren Shares, has good and marketable title to the Da Ren Shares, free and clear
of all Encumbrances (hereafter defined), other than applicable restrictions under applicable securities laws, and has full legal
right and power to sell, transfer and deliver the Da Ren Shares to Purchaser in accordance with this Agreement.  “Encumbrances”
means any liens, pledges, hypothecations, charges, adverse claims, options, preferential arrangements or restrictions of any kind,
including, without limitation, any restriction of the use, voting, transfer, receipt of income or other exercise of any attributes
of ownership.  Upon the execution and delivery of this Agreement, Purchaser will receive good and marketable title to
the Da Ren Shares, free and clear of all Encumbrances, other than restrictions imposed pursuant to any applicable securities laws
and regulations.  There are no stockholders’ agreements, voting trusts, proxies, options, rights of first refusal
or any other agreements or understandings with respect to the Shares.

 

5.3           Valid
Issuance.  The Da Ren Shares are duly authorized, validly issued, fully paid and non-assessable, and were not issued
in violation of any preemptive or similar rights.

 

5.4           No
Conflict.  None of the execution, delivery or performance of this Agreement, and the consummation of the transactions
contemplated hereby, conflicts or will conflict with, or (with or without notice or lapse of time or both) result in a termination,
breach or violation of (i) any instrument, contract or agreement to which the Seller is a party or by which he is bound, or to
which the Da Ren Shares are subject; or (ii) any federal, state, local or foreign law, ordinance, judgment, decree, order, statute
or regulation, or that of any other governmental body or authority, applicable to the Seller or the Da Ren Shares.

 

5.5          No
Consent.  No consent, approval, authorization or order of, or any filing or declaration with any governmental
authority or any other person is required for the consummation by the Seller of any of the transactions on its part contemplated
under this Agreement.

 

5.6           No
General Solicitation or Advertising. Neither any Seller nor any of its affiliates nor any person acting on its or their behalf
(i) has conducted or will conduct any general solicitation (as that term is used in Rule 502(c) of Regulation D) or general advertising
with respect to any of the Da Ren Shares, or (ii) made any offers or sales of any security or solicited any offers to buy any security
under any circumstances that would require registration of the Shares under the Securities Act of 1933, as amended (the “Securities
Act”).

 

5.7           Full
Disclosure. No representation or warranty of the Seller to the Purchaser in this Agreement omits to state a material fact necessary
to make the statements herein, in light of the circumstances in which they were made, not misleading. There is no fact known to
the Seller that has specific application to the Da Ren Shares or the Company that materially adversely affects or, as far as can
be reasonably foreseen, materially threatens the Da Ren Shares or the Company that has not been set forth in this Agreement.

 

6.      Representations
and Warranties of Purchasers.  As an inducement to Sellers to enter into this Agreement and to consummate the
transactions contemplated herein, each Purchaser represents and warrants to Sellers as follows:

 

6.1           Authority.  Purchaser
has the right, power, authority and capacity to execute and deliver this Agreement, to consummate the transactions contemplated
hereby and to perform its obligations under this Agreement.  This Agreement constitutes the legal, valid and binding obligations
of Purchaser, enforceable against Purchaser in accordance with the terms hereof.

 

6.2           No
Consent.  No consent, approval, authorization or order of, or any filing or declaration with any governmental
authority or any other person is required for the consummation by the Purchaser of any of the transactions on its part contemplated
under this Agreement.

 

    	 

    	 

    

  

6.3           No
Conflict.  Neither the execution, delivery or performance of this Agreement, or the consummation of the transactions
contemplated hereby, conflicts or will conflict with, or will (with or without notice or lapse of time or both) result in a termination,
breach or violation of (i) any instrument, contract or agreement to which Purchaser is a party or by which it is bound; or (ii)
any federal, state, local or foreign law, ordinance, judgment, decree, order, statute or regulation, or that of any other governmental
body or authority, applicable to Purchaser.

 

6.4           Potential
Loss of Investment.  Purchaser understands that an investment in the Da Ren Shares is a speculative investment which
involves a high degree of risk and the potential loss of its entire investment.

 

6.5           Receipt
of Information.  Purchaser has received all documents, records, books and other information pertaining to its investment
that has been requested by the Purchaser, including without limitation, a certificate of good standing of the Company, its articles
of incorporation and bylaws.

 

6.6           No
Advertising.  At no time was the Purchaser presented with or solicited by any leaflet, newspaper or magazine article,
radio or television advertisement, or any other form of general advertising or solicited or invited to attend a promotional meeting
otherwise than in connection and concurrently with such communicated offer.

 

6.7          
Investment Experience.  The Purchaser is (i) experienced in making investments of the kind described in this Agreement,
(ii) able, by reason of its business and financial experience to protect its own interests in connection with the transactions
described in this Agreement, and (iii) able to afford the entire loss of its investment in the Shares.

 

6.8           Investment
Purposes.  The Purchaser is acquiring the Da Ren Shares for its own account as principal, not as a nominee or agent,
for investment purposes only, and not with a view to, or for, resale, distribution or fractionalization thereof in whole or in
part and no other person has a direct or indirect beneficial interest in the amount of restricted Shares the Purchaser is acquiring
herein.  Further, Purchaser does not have any contract, undertaking, agreement or arrangement with any person to sell,
transfer or grant participations to such person or to any third person, with respect to the Da Ren Shares the Purchaser is acquiring.

 

7.      Indemnification;
Survival.

 

7.1           Indemnification.  Each
party hereto shall jointly and severally indemnify and hold harmless the other party and such other party’s agents, beneficiaries,
affiliates, representatives and their respective successors and assigns (collectively, the “Indemnified Persons”) from
and against any and all damages, losses, liabilities, taxes and costs and expenses (including, without limitation, attorneys’
fees and costs) (collectively, “Losses”) resulting directly or indirectly from (a) any inaccuracy, misrepresentation,
breach of warranty or non-fulfillment of any of the representations and warranties of such party in this Agreement, or any actions,
omissions or statements of fact inconsistent in any material respect with any such representation or warranty, or (b) any failure
by such party to perform or comply with any agreement, covenant or obligation in this Agreement.

 

7.2           Survival.  All
representations, warranties, covenants and agreements of the parties contained herein or in any other certificate or document delivered
pursuant hereto shall survive the date hereof until the expiration of the applicable statute of limitations.

 

8.      Miscellaneous.

 

8.1           Further
Assurances.  From time to time, whether at or following the Closing, each party shall make reasonable commercial
efforts to take, or cause to be taken, all actions, and to do, or cause to be done, all things reasonably necessary, proper or
advisable, including as required by applicable laws, to consummate and make effective as promptly as practicable the transactions
contemplated by this Agreement.

 

8.2           Notices.  All
notices or other communications required or permitted hereunder shall be in writing and shall be deemed duly given (a) if by personal
delivery, when so delivered, (b) if mailed, three (3) business days after having been sent by registered or certified mail, return
receipt requested, postage prepaid and addressed to the intended recipients at the addresses set forth on the signature page(s),
or (c) if sent through an overnight delivery service in circumstances to which such service guarantees next day delivery, the day
following being so sent to the addresses of the parties as indicated on the signature page(s) hereto. Any party may change the
address to which notices and other communications hereunder are to be delivered by giving the other parties notice in the manner
herein set forth.

 

    	 

    	 

    

  

8.3           Choice
of Law.  This Agreement shall be governed, construed and enforced in accordance with the laws of Taiwan (R.O.C.),
without giving effect to its principles of conflicts of law.

 

8.4          
Disputes. In the event a dispute arises regarding this Agreement, or concerning any matter arising out of this agreement,
the parties shall attempt to resolve such dispute through negotiation and/or formal mediation.

 

8.5           Entire Agreement.  This
Agreement sets forth the entire agreement and understanding of the parties in respect of the transactions contemplated hereby and
supersedes all prior and contemporaneous  agreements, arrangements and understandings of the parties relating to the
subject matter hereof.  No representation, promise, inducement, waiver of rights, agreement or statement of intention
has been made by any of the parties which is not expressly embodied in this Agreement. 

 

8.6           Assignment.
Each party's rights and obligations under this Agreement shall not be assigned or delegated, by operation of law or otherwise,
without the other party's prior written consent, and any such assignment or attempted assignment shall be void, of no force or
effect, and shall constitute a material default by such party.

 

8.7           Amendments.  This
Agreement may be amended, modified, superseded or cancelled, and any of the terms, covenants, representations, warranties or conditions
hereof may be waived, only by a written instrument executed by the parties hereto.

 

8.8           Waivers.  The
failure of any party at any time or times to require performance of any provision hereof shall in no manner affect the right at
a later time to enforce the same.  No waiver by any party of any condition, or the breach of any term, covenant, representation
or warranty contained in this Agreement, whether by conduct or otherwise, in any one or more instances shall be deemed to be or
construed as a further or continuing waiver of any such condition or breach or a waiver of any other term, covenant, representation
or warranty of this Agreement.

 

8.9           Counterparts.  This
Agreement may be executed simultaneously in two or more counterparts and by facsimile, each of which shall be deemed an original,
but all of which together shall constitute one and the same instrument.

 

8.10          Severability. 
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority
to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall
remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance
of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such determination,
the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the fullest extent possible.

 

8.11         Interpretation.  The
parties agree that this Agreement shall be deemed to have been jointly and equally drafted by them, and that the provisions of
this Agreement therefore shall not be construed against a party or parties on the ground that such party or parties drafted or
was more responsible for the drafting of any such provision(s). The parties further agree that they have each carefully read the
terms and conditions of this Agreement, that they know and understand the contents and effect of this Agreement and that the legal
effect of this Agreement has been fully explained to its satisfaction by counsel of its own choosing.

 

 SIGNATURE PAGE
TO FOLLOW

 

    	 

    	 

    

   

IN WITNESS WHEREOF, the parties have duly
executed this Stock Purchase Agreement as of the date first above written.

 

	SELLERS:	 	PURCHASER:
	 	 	 	 
	 	 	Green Forest Management Consulting. Inc.
	 	 	 	 
	/s/ Chang Cheng-Sung	 	By:	/s/ Chiang Yu-Chang
	Chang Cheng-Sung	 	 	Chiang Yu-Chang
	(3,000,000 Da Ren Shares)	 	 	Chairman of the Board
	No. 78, Ziqiang Rd.	 	 	Green Forest Management Consulting Inc.
	Zhudong Township, Hsinchu County 310	 	 	Rm. B302C, 3F.-2, No. 185, Kewang Rd.
	Taiwan (R.O.C.)	 	 	Longtan Township, Taoyuan County 325
	 	 	 	Taiwan (R.O.C.)
	 	 	 	 
	 	 	 	 
	/s/ Liao Chi-Sheng	 	 	 
	Liao Chi-Sheng	 	 	 
	(3,000,000 Da Ren Shares)	 	 	 
	7F., No. 5, Ln. 9, Sanfu St.	 	 	 
	Wenshan Dist., Taipei City 116	 	 	 
	Taiwan (R.O.C.)	 	 	 
	 	 	 	 
	 	 	 	 
	/s/ Yu Chien-Yang	 	 	 
	Yu Chien-Yang	 	 	 
	(550,000 Da Ren Shares)	 	 	 
	No. 548, Kewang Rd.	 	 	 
	Longtan Township, Taoyuan County 325	 	 	 
	Taiwan (R.O.C.)	 	 	 

 

 

	Da Chuang Business Management Consultant Co., Ltd.	 
	 	 	 
	By:	/s/ Chen Kuan-Yu	 
	 	Chen Kuan-Yu	 
	 	Chairman of the Board	 
	 	Da Chuang Business Management Consultant Co., Ltd.
	 	(610,000 Da Ren Shares)	 
	 	3F. No. 132, Gongyi Rd.	 
	 	West Dist., Taichung City 403	 
	 	Taiwan (R.O.C.)	 

 

    	 

    	 

    

 

Exhibit A

 

 

GREEN FOREST MANAGEMENT CONSULTING INC.

 

PROMISSORY NOTE

 

 

 

TWD $91,996,524

 

Dated: ________________, 2013

 

 

For value
received, and pursuant to the Land Sale and Purchase Agreement dated September __, 2013, Green
Forest Management Consulting Inc. promises to pay the sellers of Da Ren International Development Inc., Chang Cheng-Sung, Liao
Chi-Sheng, Yu Chien-Yang and Da Chuang Business Management Consultant Co., Ltd. (together, the “Da Ren Sellers”) the
sum of Ninety One Million Nine Hundred Ninety Six Thousand
Five Hundred Twenty Four New Taiwan Dollars (TWD $91,996,524). Each of the Da Ren Sellers’ ownership interests in this Promissory
Note is detailed on Annex A to this Promissory Note.

 

The sum shall be repaid to the Da Ren Sellers on or before ___________,
2013 according to the instructions of the Da Ren Sellers.

 

 

	 	Green Forest Management Consulting Inc.
	 	 	 
	 	By:	 
	 	 	Chiang Yu-Chang
	 	 	Chairman of the Board
	 	 	Green Forest Management Consulting
Inc.
	 	 	Rm. B302C, 3f.-2, No. 185,
Kewang Rd.
	 	 	Longtan Township, Taoyuan County 325
	 	 	Taiwan (R.O.C.)

 

    	 

    	 

    

  

Annex A

 

 

PROMISSORY NOTE HOLDERS

 

	Promissory Note Holder	Value Held in Promissory Note (TWD)

  

	
        Chang Cheng-Sung

         
	TWD $30,000,000
	
        Liao Chi-Sheng

         
	TWD $30,000,000
	
        Yu Chien-Yang

         
	TWD $5,500,000
	
        Da Chuang Business Management Consultant Co., Ltd.

         
	TWD $26,496,524

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