Document:

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Section 4 of the Agreement is superseded and replaced in its entirety by the following: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Section 5 of the Agreement is superseded and replaced in its entirety by the following: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

 

    	 	2AMENDMENT
NO. 1

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
is Amendment No. 1 (the “Amendment”) to the Executive Employment Agreement (“Agreement”)
dated March 1, 2019, by and between PolarityTE, Inc., a Delaware corporation (“Parent”) and David Seaburg,
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:

 

2.
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.
Compensation. The Parent agrees to pay the Executive a base salary (“Base Salary”) for the position
of President as follows:

 

(a)
from the Effective Date through June 30, 2019, $325,000 per annum,

(b)
from July 1, 2019, through June 30, 2021, $162,500 per annum, and

(c)
during any renewal term after June 30, 2021, $325,000 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(b):

 

(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 $650,000 divided by the Fair Market Value on June 28, 2019, rounded to the nearest
whole share. Five twenty fourths (5/24) shall vest on Dec 6, 2019 following which the shares will vest in monthly installments
beginning December 31, 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:

 

David
Seaburg

170
East 78th Street, Apt 3F.

New
York, NY 10075

 

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/ David Seaburg
	 	David Seaburg

 

    	 	2AMENDMENT
NO. 1

EXECUTIVE
EMPLOYMENT AGREEMENT

 

This
is Amendment No. 1 (the “Amendment”) to the Executive Employment Agreement (“Agreement”)
dated May 12, 2018, by and between PolarityTE, Inc., a Delaware corporation (“Parent”) and Paul Mann, 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 2 of the Agreement is superseded and replaced in its entirety by the following:

 

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 4 of the Agreement is superseded and replaced in its entirety by the following:

 

4.
Base Salary and Board Fees. The Parent agrees to pay the Executive a base salary (“Base Salary”) for
the position of Chief Financial Officer as follows:

 

(a)
from the Effective Date through June 30, 2019, $400,000 per annum,

(b)
from July 1, 2019, through June 30, 2021, $200,000 per annum, and

(c)
during any renewal term after June 30, 2021, $400,000 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(b):

 

(b)
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 $800,000 divided by the Fair Market Value on June 28, 2019, rounded to the nearest
whole share. Five twenty fourths (5/24) shall vest on Dec 6, 2019 following which the shares will vest in monthly installments
beginning December 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:

 

Paul
Mann

1108
SE Strathmore Dr.

Port
Saint Lucie, FL 34952

 

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/
    Cameron Hoyler
	 	Name:	Cameron
    Hoyler
	 	Title:	General
    Counsel
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	/s/ Paul Mann
	 	Paul Mann

 

    	 	2PolarityTE,
Inc.

2019
Equity Incentive Plan

 

Notice
of Restricted Stock Grant

 

You
(the “Grantee”) have been granted by PolarityTE, Inc., a Delaware corporation (the “Company”)
the following award of its restricted Common Stock (the “Restricted Stock”), par value $0.001 per share (the
“Shares”), pursuant to the PolarityTE, Inc., 2019 Equity Incentive Plan (the “Plan”):

 

	 	Name
    of Grantee:	 	[NAME]
	 	 	 	 
	 	Number
    of Shares of Restricted Stock Granted:	 	[NUMBER]
	 	 	 	 
	 	Effective
    Date of Grant:	 	[DATE]
	 	 	 	 
	 	Vesting
    and Period of Restriction:	 	[VESTING
    SCHEDULE]

 

By
your signature and the signature of the Company’s representative below, you and the Company agree and acknowledge that this
grant of Restricted Stock is granted under and governed by the terms and conditions of the Plan and the attached Restricted Stock
Award Agreement, which are incorporated herein by reference, and that you have been provided with a copy of the Plan and Restricted
Stock Agreement.

 

	Grantee:	 	PolarityTE,
    Inc.
	 	 	 
	By:	 	 	By:	 
	Name: 	[NAME]	 	Name: 	 Richard
    Hague
	 	 	 	Title:	 Chief
    Operating Officer

 

    	 

    	 

    

 

PolarityTE,
Inc.

2019
Equity Incentive Plan

 

Restricted
Stock Award Agreement

 

Section
1. Grant of Restricted Stock

 

(a)
Restricted Stock. On the terms and conditions set forth in the Notice of Restricted Stock Grant (the “Grant Notice”)
and this Restricted Stock Award Agreement (the “Agreement”), the Company grants to the Grantee on the Effective
Date of Grant the Shares of Restricted Stock (the “Restricted Stock”) set forth in the Grant Notice.

 

(b)
Plan and Defined Terms. The Restricted Stock is granted pursuant to the Plan. All terms, provisions, and conditions applicable
to the Restricted Stock set forth in the Plan and not set forth herein are hereby incorporated by reference herein. To the extent
any provision hereof is inconsistent with a provision of the Plan, the provisions of the Plan will govern. All capitalized terms
that are used in the Grant Notice or this Agreement and not otherwise defined therein or herein shall have the meanings ascribed
to them in the Plan.

 

Section
2. Forfeiture and Transfer Restrictions

 

(a)
Forfeiture Restrictions.

 

(i)
If the Grantee’s employment or service is terminated for any reason other than (A) death, (B) “disability” (as
defined in a written employment agreement between the Grantee and the Company), (C) by the Company without “cause”
(as defined in a written employment agreement between the Grantee and the Company), or (D) by the Grantee for “good reason”
(as defined in a written employment agreement between the Grantee and the Company), the Grantee shall, for no consideration, forfeit
to the Company the Shares of Restricted Stock to the extent such Shares are subject to a Period of Restriction at the time of
such termination.

 

(ii)
If the Grantee’s employment or service is terminated (A) due to death, (B) due to “disability” (as defined in
a written employment agreement between the Grantee and the Company), (C) by the Company without “cause” (as defined
in a written employment agreement between the Grantee and the Company), or (D) by the Grantee for “good reason” (as
defined in a written employment agreement between the Grantee and the Company), while Shares of Restricted Stock are subject to
a Period of Restriction, the Period of Restriction with respect to such Shares shall lapse, and the Shares shall vest and become
free of the forfeiture and transfer restrictions described in this Section 2, on the date of the Grantee’s termination of
employment or service.

 

(iii)
In the event there is a Change in Control as defined in the Plan while Shares of Restricted Stock are subject to a Period of Restriction,
the Period of Restriction with respect to such Shares shall lapse, and the Shares shall vest and become free of the forfeiture
and transfer restrictions described in this Section 2 immediately prior to the Change in Control event.

 

    	 	1	 

    	 

    

 

(b)
Transfer Restrictions. During the Period of Restriction, the Restricted Stock may not be sold, assigned, pledged, exchanged,
hypothecated or otherwise transferred, encumbered or disposed of to the extent such Shares are subject to a Period of Restriction.

 

(c)
Lapse of Restrictions. The Period of Restriction shall lapse as to the Restricted Stock in accordance with the Grant Notice.
Subject to the terms of the Plan and Section 4(a) hereof, upon lapse of the Period of Restriction, the Grantee shall own the Shares
that are subject to this Agreement free of all restrictions otherwise imposed by this Agreement.

 

Section
3. Stock Certificates

 

As
soon as practicable following the grant of Restricted Stock, the Shares of Restricted Stock shall be registered in the Grantee’s
name in certificate or book-entry form. If a certificate is issued, it shall bear an appropriate legend referring to the restrictions
and it shall be held by the Company, or its agent, on behalf of the Grantee until the Period of Restriction has lapsed. If the
Shares are registered in book-entry form, the restrictions shall be placed on the book-entry registration. The Grantee may be
required to execute and return to the Company a blank stock power for each Restricted Stock certificate (or instruction letter,
with respect to Shares registered in book-entry form), which will permit transfer to the Company, without further action, of all
or any portion of the Restricted Stock that is forfeited in accordance with this Agreement.

 

Except
for the transfer restrictions, and subject to such other restrictions, if any, as determined by the Administrator (or its designee),
the Grantee shall have all other rights of a holder of Shares, including the right to receive dividends paid (whether in cash
or property) with respect to the Restricted Stock and the right to vote (or to execute proxies for voting) such Shares. Unless
otherwise determined by the Administrator (or its designee), if all or part of a dividend in respect of the Restricted Stock is
paid in Shares or any other security issued by the Company, such Shares or other securities shall be held by the Company subject
to the same restrictions as the Restricted Stock in respect of which the dividend was paid.

 

Section
4. Miscellaneous Provisions

 

(a)
Tax Withholding. Pursuant to Section 8.5 of the Plan, the Company shall have the power and right to deduct or withhold,
or require the Grantee to remit to the Company, an amount sufficient to satisfy any federal, state and local taxes (including
the Grantee’s FICA obligations) required by law to be withheld with respect to this Award. The Administrator (or its designee)
may condition the delivery of Shares upon the Grantee’s satisfaction of such withholding obligations. The Company may, at
its sole discretion, accept as satisfaction of all or part of such withholding requirement Grantee’s tender of previously-owned
Shares or Grantee’s request that the Company withhold Shares having a Fair Market Value equal to the minimum statutory withholding
(based on minimum statutory withholding rates for federal, state and local tax purposes, as applicable, including payroll taxes)
that could be imposed on the transaction subject to any restrictions or limitations that the Administrator (or its designee),
in its sole discretion, deems appropriate, and, to the extent the Administrator (or its designee) so permits, amounts in excess
of the minimum statutory withholding to the extent it would not result in additional accounting expense.

 

    	 	2	 

    	 

    

 

(b)
Ratification of Actions. By accepting this Agreement, the Grantee and each person claiming under or through the Grantee
shall be conclusively deemed to have indicated the Grantee’s acceptance and ratification of, and consent to, any action
taken under the Plan or this Agreement and Grant Notice by the Company, the Board or the Administrator (or its designee).

 

(c)
Notice. Any notice required to be delivered to the Company under this Agreement shall be in writing and addressed to the
Corporate Secretary of the Company at the Company’s principal corporate offices. Any notice required to be delivered to
the Grantee under this Agreement shall be in writing and addressed to the Grantee at the Grantee’s address as shown in the
records of the Company. Either party may designate another address in writing (or by such other method approved by the Company)
from time to time.

 

(d)
Section 83(b) Election. If Grantee makes an election pursuant to section 83(b) of the Code with respect to this Award,
Grantee shall be required to promptly file a copy of such election with the Administrator (or its designee), file notice of the
election with the Internal Revenue Service within thirty (30) days of the date of the grant and shall provide the required withholding
to the Company pursuant to Section 4(a). Grantee is solely responsible for any filing and notification required pursuant to regulations
issued under Section 83(b) of the Code.

 

(e)
Choice of Law. This Agreement and the Grant Notice shall be governed by, and construed in accordance with, the laws of
the State of Delaware, without regard to any conflicts of law or choice of law rule or principle that might otherwise cause the
Plan, this Agreement or the Grant Notice to be governed by or construed in accordance with the substantive law of another jurisdiction.

 

(f)
Modification or Amendment. This Agreement may only be modified or amended by written agreement executed by the parties
hereto; provided, however, that the adjustments permitted pursuant to Section 4.3 of the Plan may be made without such written
agreement.

 

(h)
Severability. In the event any provision of this Agreement shall be held illegal or invalid for any reason, the illegality
or invalidity shall not affect the remaining provisions of this Agreement, and this Agreement shall be construed and enforced
as if such illegal or invalid provision had not been included.

 

(i)
References to Plan. All references to the Plan shall be deemed references to the Plan as may be amended from time to time.

 

(j)
Section 409A Compliance. To the extent applicable, it is intended that the Plan and this Agreement comply with the requirements
of Code Section 409A and any related regulations or other guidance promulgated with respect to such Section by the U.S. Department
of the Treasury or the Internal Revenue Service and the Plan and the Award Agreement shall be interpreted accordingly.

 

    	 	3

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