Document:

Exhibit 10.1

ASSET PURCHASE AGREEMENT

THIS AGREEMENT made this 8th day of March, 2018 (this “Agreement”)

 BETWEEN:

BLOCKCHAIN MINING SUPPLY & SERVICES LTD.

a corporation incorporated under the laws of the Province of Ontario

(the "Vendor")

- and -

SUPER CRYPTO MINING, INC.

a corporation incorporated under the laws of the State of Delaware

(the "Purchaser")

WHEREAS the Vendor is the owner of certain assets being 1,100 Bitmain Antminer S9 model & 1,100 PSU more fully described on Schedule I attached hereto (the “Assets”);

AND WHEREAS the Purchaser is desirous of purchasing the Assets from the Vendor;

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual covenants and agreements set out herein, the parties respectively covenant and agree as follows.

	1.	
Definitions.

 

Where used in this Agreement or in any amendment, the following terms shall have the following meanings respectively:

		(a)	
"Agreement" means this Agreement of Purchase and Sale, including all schedules, and all instruments supplemental to or in amendment or confirmation of this Agreement;

		(b)	
“Assets” means 1,100 Bitmain Antminer S9 model, and 1,100 PSU;

		(c)	
“Purchase Price” means the purchase price to be paid by the Purchaser to the Vendor as described in Section 2 of this Agreement;

		(d)	
“Inspection” means inspecting the machines by opening randomly selected boxes of both machines and power supplies, plug and test random machines, counting all machines and comparing to packing slips. counting of items, opening boxes and confirming contents are as represented; and

		(e)	
“Toronto Warehouse” means the premises municipally known as 7347 Kimbel Street, Mississauga, Ontario.

 

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	2.	
Purchase Price. The purchase price payable to the Vendor by the Purchaser for the Assets shall be the sum of THREE MILLION TWO HUNDRED AND SEVENTY-TWO THOUSAND FIVE HUNDRED ($3,272,500 USD) US DOLLARS (the “Purchase Price”).

 

		a.	
Payment of Purchase Price. The Purchase Price shall be payable as follows:

 

		i.	
Deposit. The sum of ONE HUNDRED AND SIXTY-THREE THOUSAND, SIX HUNDRED AND TWENTY-FIVE ($163,625.00 USD) US DOLLARS being five (5) per cent of the Purchase Price, shall be paid to the Vendor as a Deposit herewith (the “Deposit”) is wired directly to the Vendor. $80,000 wired on 3/9 (after the inspection is completed on 3/8) and the remainder $83,625 wired on Tuesday 3/13/18 (no escrow). If the inspection is delayed for any reason other than the fault of the Purchaser, then the payment will shift accordingly at the same number of days as the delay.

 

		ii.	
Balance. Providing the inspection is satisfactory, the balance of the sum for the first 500 machines and 500 Power Supplies in the amount of ONE MILLION, FOUR HUNDRED AND EIGHT SEVEN THOUSAND, FIVE HUNDRED ($1,487,500.00 USD) US DOLLARS shall be paid on or before March 23, 2018, directly to Vendor to an account indicated by Vendor (the “Balance”). Upon receipt of the Balance, Vendor shall release the Assets to Purchaser and Purchaser shall make arrangements for its pick-up.

 

		iii.	 

Balance: The deposit will then be applied to the remaining 600 machines and Power Supplies that we will pick up after full payment ($1,621,375.00) is made on or before April 15th, 2018. If the payment for the 600 machines is not paid then, the deposit is non refundable.

 

3.          In the event Purchaser fails to pay the Balance to Vendor on or before April 15, 2018, the Deposit funds shall be forfeited to the Vendor, and the remainder of this Agreement save and except for Article 2(a)(i) and Article 3, shall be null and void and all parties shall be relieved of its further obligations herein. 

 

4.          Assets are sold FOB Toronto Warehouse. Any additional delivery of freight charge, customs clearance charges, duties, insurance, and taxes are on the account of the Purchaser.  All applicable charges herein must be paid to Vendor prior to pick up by Purchaser. Vendor agrees to assist purchaser in arranging freight and customs clearance at Purchaser’s cost.

 

5.          Warranty. Vendor hereby transfers and assigns to Purchaser any and all warranties with respect to the Assets provided by Bitmain to Vendor in connection with its original purchase of the Assets, and Vendor provides the Purchaser with full benefit of the warranty over the assets provided by Bitmain as published by Bitmain online.  Vendor is the true and lawful owner, and has good title to, all of the Assets, free and clear of all encumbrances.  The Assets owned are in good operating condition and repair and are adequate for the uses to which they are being put, ordinary wear and tear excepted.  As of the Escrow Funding Date, there will be no restrictions on the Purchaser’s right or ability to modify, relocate, or dispose of the Assets as the Purchaser sees fit.

 

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6.          Title. All right, title and interest to the Assets shall pass to Purchaser on the Closing Date by operation of law.

 

7.          Risk of Loss. All risk of loss with respect to the Assets shall remain with Vendor until the Closing Date.

 

8.          Duty to Insure. Vendor shall adequately insure the Assets against loss or damage by insurable hazards to at least equal to that of the Purchase Price until the Closing Date.

 

9.          No taxable supply. It is acknowledged and understood that the Assets are a taxable supply under the Excise Tax Act, RSC 1985 C E-15 (the “ETA”), however will not be subject to excise tax of GST/HST under the ETA pursuant to Schedule VI (Subsection 123(1)), Part V as an exempt supply of goods for export. Purchaser confirms that upon taking title to the Assets, the Assets will immediately be exported from Canada. If Assets remain in Canada, and excise taxes under the ETA become exigible, Purchaser shall be wholly responsible for same.

 

10.          Representations and Warranties of Vendor:

 

Vendor hereby makes the following representations and warranties, as of the date hereof, to and in favour of Purchaser, and acknowledges that Purchaser is relying upon such representations and warranties in connection with entering into this Agreement:

 

10.1          Incorporation and Corporate Power of Vendor. Vendor is a corporation incorporated, organized, validly subsisting and in good standing under the laws of the jurisdiction of its incorporation. Vendor has all requisite corporate power, authority and capacity to carry on its business as presently conducted and to execute and deliver this Agreement and all other agreements and instruments to be executed by it as contemplated herein and to perform its other obligations hereunder and under all such other agreements and instruments contemplated herein. Vendor has the corporate power, authority and capacity to own and dispose of the Assets to Purchaser.

 

10.2          Authorization by Vendor. The execution and delivery of this Agreement and all other agreements and instruments to be executed by it as contemplated herein and the completion of the transactions contemplated hereby and thereby have been duly authorized by all necessary corporate action on the part of Vendor and no further corporate action is required to be taken by the directors or shareholders to authorize the completion of the transactions contemplated herein.

 

10.3          Title to Assets. Vendor has good and marketable legal and beneficial title to the Assets, in each case, which will be free and clear of any and all liens and encumbrances.  There is no agreement, option or other right or privilege outstanding in favour of any Person for the purchase from Vendor of the Assets or any part thereof.

 

10.4          Regulatory Approvals. No regulatory approval or filing with, notice to, or waiver from any governmental authority is required to be obtained or made by Vendor: (a) in connection with the execution and delivery of, and performance by Vendor of its obligations under, this Agreement or the consummation of the transactions contemplated hereby; (b) to transfer any and all rights and benefits thereunder to Purchaser; or (c) to the knowledge of the Vendor, to permit the Purchaser to operate the Assets as contemplated.

 

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10.5          Absence of Conflicting Agreements. The execution, delivery and performance of this Agreement by Vendor and the completion of the transactions contemplated by this Agreement do not and will not result in or constitute any of the following:

 

		i.	
a default, breach or violation or an event that, with notice or lapse of time or both, would be a default, breach or violation of any of the terms, conditions or provisions of the articles or by-laws of Vendor;

 

		ii.	
an event which, pursuant to the terms of any contract or licence, would cause any right or interest of Vendor to come to an end or be amended in any way that is detrimental to the Assets or the business of Purchaser;

 

		iii.	
the violation of any applicable law.

 

10.6          Intellectual Property.  The Assets do not violate or infringe the intellectual property of any third party and Purchaser will have all rights to intellectual property (without the need to make any payments in connection therewith) required to operate the Assets in the manner currently contemplated.

 

10.7          Warranty Matters.  There have not been any warranty claims made against Vendor in respect of its business or sales of miners or for which Vendor was responsible in the 24 months prior to the date hereof.

 

	11.	
Representations and Warranties of Purchaser:

 

Purchaser hereby makes the following representations and warranties, as of the date hereof, to and in favour of Vendor, and acknowledges that Vendor is relying upon such representations and warranties in connection with entering into this Agreement:

 

11.1          Incorporation and Corporate Power. Purchaser is a corporation incorporated and organized and subsisting under the laws of the jurisdiction of its incorporation. Purchaser has the corporate power, authority and capacity to execute and deliver this Agreement and Purchaser as the requisite funds to satisfy the payment of the Purchase Price and has the authority to execute and deliver all other agreements and instruments to be executed by it as contemplated herein and to perform its obligations under this Agreement and under all such other agreements and instruments.

 

11.2          Authorization by Purchaser. The execution and delivery of this Agreement and all other agreements and instruments to be executed by it as contemplated herein and the completion of the transactions contemplated by this Agreement and all such other agreements and instruments have been duly authorized by all necessary corporate action on the part of Purchaser.

 

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11.3          Enforceability of Obligations. This Agreement constitutes a valid and binding obligation of Purchaser enforceable against Purchaser in accordance with its terms.

 

11.4          Absence of Conflicting Agreements. The execution, delivery and performance of this Agreement by Purchaser and the completion of the transactions contemplated by this Agreement do not and will not result in or constitute any of the following:

 

		i.	
a default, breach or violation or an event that, with notice or lapse of time or both, would be a default, breach or violation of any of the terms, conditions or provisions of the articles or by-laws of Purchaser; or

 

		ii.	
the violation of any applicable law.

 

	12.	
General.

 

		a.	
Confidentiality.  The parties shall hold in strictest confidence any information and material which is related to either Purchaser or Vendor’s business or is designated by either Purchaser or Vendor as proprietary and confidential, herein or otherwise.  Vendor further covenants not to disclose or otherwise make known to any Party nor to issue or release for publication any articles or advertising or publicity matter relating to this Agreement in which the name of Purchaser or any of its affiliates is mentioned or used, directly or indirectly, unless prior written consent is granted by the other party; provided, however, that the Purchaser shall be entitled to make any disclosures required by it as a public company under applicable law, regulation or stock exchange rule without any consent of Vendor, including the filing of this Agreement as an exhibit thereto.

 

		b.	
Force Majeure. Any delay or failure of Vendor to perform its obligations under this Agreement will be excused to the extent that the delay or failure was caused directly by an event beyond the Vendor’s control, without the Vendor’s fault or negligence and that by its nature could not have been foreseen by the Vendor or, if it could have been foreseen, was unavoidable (which events may include natural disasters, embargoes, explosions, riots, wars, acts of terrorism, strikes, labour stoppages or slowdowns or other industrial disturbances, and shortage of adequate power or transportation facilities).

 

		c.	
Notices.  All notices and other communications pertaining to this Agreement shall be in writing and shall be deemed duly to have been given if personally delivered to the other Party or if sent by certified mail, return receipt requested, postage prepaid or by Federal Express, United Parcel or other nationally recognized overnight carrier. All notices or communications between Purchaser and Vendor pertaining to this Agreement shall be addressed to the Vendor at: joekalfa@gmail.com and to the Purchaser at darren@supercrypto.com. Either Party may change its notification address by giving written notice to that effect to the other Party in the manner provided herein.

 

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		d.	
Waiver.  Any waiver by either Party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement.  The failure of a Party to insist upon strict adherence to any term of this Agreement on one or more occasions shall neither be considered a waiver nor deprive that Party of any right thereafter to insist upon strict adherence to that term or any other term of this Agreement.  Any waiver must be in writing and signed by the Party to be charged therewith.

 

		e.	
Modifications.  No revision or modification of this Agreement shall be effective unless in writing and executed by authorized representative of both parties.

 

		f.	
Assignment.  Neither party shall assign, transfer, delegate or subcontract any of its rights or obligations under this Agreement without the prior written consent of the other party. Any purported assignment or delegation in violation of this Section shall be null and void. No assignment or delegation shall relieve the other party of any of its obligations hereunder.

 

		g.	
Severability.  If any portion of this Agreement is held invalid, such invalidity shall not affect the validity of the remaining portions of the Agreement, and the parties will substitute for any such invalid portion hereof a provision which best approximates the effect and intent of the invalid provision.

 

		h.	
Construction and Jurisdiction.  This Agreement, the legal relations between the parties and any action, whether contractual or non-contractual, instituted by any party with respect to any matter arising between the parties, including but not limited to matters arising under or in connection with this Agreement, such as the negotiation, execution, interpretation, coverage, scope, performance, breach, termination, validity, or enforceability of this Agreement, shall be governed by and construed in accordance with the internal laws of the State of New York without reference to principles of conflicts of laws.  The parties hereto hereby irrevocably submit to the exclusive jurisdiction of the courts of the State of New York and the Federal Courts of the United States of America located within the Eastern or Southern District of New York with respect to any matter arising between the parties, and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or thereof, that it is not subject thereto or that such action, suit or proceeding may not be brought or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the parties hereto irrevocably agree that all claims with respect to such action or proceeding shall be heard and determined in such a New York State or Federal court.  The parties hereby consent to and grant any such court jurisdiction over the person of such parties and over the subject matter of such dispute and agree that mailing of process or other papers in connection with any such action or proceeding in any manner as may be permitted by applicable law, shall be valid and sufficient service thereof. With respect to any particular action, suit or proceeding arising between the parties, including but not limited to matters arising under or in connection with this Agreement, venue shall lie solely in any New York County or any Federal Court of the United States of America sitting in the Eastern or Southern District of New York.  The prevailing party in any dispute arising out of this Agreement shall be entitled to his or its reasonable attorney’s fees and costs.

 

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		i.	
Headings.  The paragraph titles of this Agreement are for conveniences only and shall not define or limit any of the provisions hereof.

 

		j.	
Entire Agreement.  This Agreement, all schedules attached hereto and the Escrow Agreement, is intended as the complete and exclusive statement of the agreement between Purchaser and Vendor with respect to the subject matter hereof, and supersede all prior agreements and negotiations related thereto.

 

		k.	
Binding Effect.  The provisions hereof shall be binding upon and shall inure to the benefit of Purchaser and Vendor, their respective successors, and permitted assigns.

 

		l.	
Counterparts.  Provided that all parties hereto execute a copy of this Agreement, this Agreement may be executed in counterparts, each of which shall be deemed an original and all of which together shall constitute one and the same instrument.  Executed copies of this Agreement may be delivered by facsimile transmission or other comparable means.  This Agreement shall be deemed fully executed and entered into on the date of execution by the last signatory required hereby.

 

[SIGNATURES APPEAR ON FOLLOWING PAGES AND ARE SIGNED IN COUNTERPART]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed as of the date first written above by their respective officers thereunto duly authorized.

	 	
By the Purchaser

	 	 
	 	
SUPER CRYPTO MINING, INC.

	 	 
	 	 
	 	
Per: /s/ Darren Magot

	 	
Name:  Darren Magot

	 	
Title:   CEO

	 	
I have authority to bind the corporation

	 	 
	 	 
	 	 
	 	
By the Vendor

	 	 
	 	
BLOCKCHAIN MINING SUPPLY &

	 	
SERVICES LTD.

	 	 
	 	 
	 	 
	 	
Per:   /s/ William Tencer

	 	
Name:  William Tencer

	 	
Title:    President

	 	
I have authority to bind the corporation

 

8Exhibit

Exhibit 10.72

SEPARATION AGREEMENT
AND GENERAL RELEASE OF CLAIMS
1.Factual Background. Benjamin L. Sitler ("Employee") was employed by NeoPhotonics Corporation (the "Company") beginning on or about July 21, 2003, and is currently employed by the Company as its SVP, Global Sales Officer.
2.Separation Date, Reimbursement and Payments. Employee's last day of employment with the Company will be Friday, February 28, 2018 (the "Separation Date"). If Employee submits appropriate documentation by no later than thirty (30) days after the Separation Date, the Company will reimburse Employee for any business-related expenses incurred by Employee through the Separation Date, consistent with Company policy. On the Separation Date, Employee will be paid his accrued salary through the Separation Date, and will be paid any accrued unused paid time off/vacation that he has earned as of the Separation Date. Other than consideration payments described in this Agreement, his unpaid base salary through the Separation Date, and his accrued unused paid time off/vacation as of Separation Date (if any), Employee acknowledges and agrees that to date he has been paid all wages (including, without limitation, base salary, bonuses, and accrued unused paid time off/vacation) that he earned during his employment with the Company.
3.Transition Period. Between now and the Separation Date (the "Transition Period"), Employee shall continue to use his best efforts to perform his currently assigned duties and responsibilities, and to transition these duties and responsibilities, as requested by the Company (the "Transition Services"). Employee must continue to, in all material respects, comply with all of his contractual and legal obligations to the Company, and, in all material respects, comply with the Company's policies and procedures, during the Transition Period. During the Transition Period, Employee will continue to receive his current base salary, subject to standard withholdings and deductions; will continue to accrue paid time off/vacation according to Company policy; will continue to vest in Employee’s equity awards in accordance with their terms; and will continue to be eligible for the Company's standard benefits, subject to the terms of such plans and programs.
4.Severance Benefits. In full satisfaction of any obligations to provide Employee severance benefits for an "Involuntary Termination Generally" under the terms of the Retention Agreement entered into between Employee and the Company dated August 5, 2016 (the "Retention Agreement"), if: (i) Employee returns this fully signed Agreement to the Company on or within twenty-one (21) days of his receipt of it and Employee allows the releases contained herein to become effective; (ii) Employee fully complies with his obligations hereunder under the Transition Period and thereafter; and (iii) on or within twenty-one (21) days after the Separation Date, Employee signs and returns to the Company the Separation Date Release, attached hereto as Exhibit 

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

A (the "Release") and allow the releases contained therein to become effective; then the Company will pay Employee the following as his sole “Severance Benefits”:
		
	a)
	Severance Payment. The Company will pay Employee, as severance, a single lump-sum amount equal to his annual base salary in effect as of the Separation Date (which annual base salary shall be no less than Employee’s annual base salary as in effect as of 

December 19, 2017), subject to standard payroll deductions and withholdings (the "Severance Payment"). The Severance Payment will be paid in a single lump sum no later than ten (10) business days after the Release Effective Date (as defined herein).
		
	b)
	Health Insurance. To the extent provided by the federal COBRA law or, if applicable, state insurance laws (collectively, "COBRA"), and by the Company's current group health insurance policies, Employee will be eligible to continue his group health insurance benefits at his own expense. Later, Employee may be able to convert to an individual policy through the provider of the Company's health insurance, if he wishes. Employee will be provided with a separate notice more specifically describing his rights and obligations to continuing health insurance coverage under COBRA on or after the Separation Date. As an additional severance benefit, the Company will pay Employee a fully taxable cash payment in the amount of $72,000 (the "Special Cash Payment"), which the Employee may, but is not required to use towards continued health coverage. The Special Cash Payment shall be paid to Employee in a lump sum no later than ten (10) business days after the Release Effective Date.

		
	c)
	Accelerated Vesting and Repurchase Rights. As an additional severance benefit, any of Employee's outstanding equity awards that provide for time-based vesting, and the rate of lapsing of any repurchase rights applicable to such awards, shall be immediately accelerated and exercisable as of the Separation Date as though the outstanding awards continued to vest for a period of eighteen (18) months following the Separation Date.

		
	d)
	No Other Compensation and Benefits. Employee acknowledges and agrees that the Severance Benefits, and other benefits provided herein are in full and complete satisfaction of the Company's obligations, if any, to pay Employee severance benefits pursuant to the Retention Agreement, or any other agreements.

5.Release of Claims. In exchange for the Severance Benefits and other consideration set forth herein, Employee and his successors release the Company and its parents, divisions, subsidiaries, and affiliated entities, and each of their respective current and former shareholders, investors, directors, officers, members, employees, agents, attorneys, insurers, legal successors, assigns, and affiliates (the "Released Parties") of and from any and all claims, actions and causes of action, whether now known or unknown, which Employee now has, or at any other time had, or shall or 

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

may have against those Released Parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at any time up to and including the date on which Employee signs this Agreement, including, but not limited to, any claims of breach of express or implied contract, wrongful termination, constructive discharge, retaliation, fraud, defamation, infliction of emotional distress or national origin, race, age, sex, sexual orientation, disability or other discrimination or harassment under the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the California Fair Employment and Housing Act, the California Labor Code, the Fair Labor Standards Act, the Fair Credit Reporting Act, or any other applicable law (all listed statutes in this paragraph as they have been, or are in the future, amended). 

6.ADEA Waiver. Employee acknowledges that he is knowingly and voluntarily waiving and releasing any rights he has under the ADEA, and that the consideration given for the waiver and release he has given in this Agreement is in addition to anything of value to which he was already 
entitled. Employee further acknowledges that he has been advised, as required by the ADEA, that: (i) his waiver and release does not apply to any rights or claims that arise after the date he signs this Agreement; (ii) he should consult with an attorney prior to signing this Agreement (although he may choose voluntarily not to do so); (iii) he has twenty-one (21) days to consider this Agreement (although he may choose voluntarily to sign it sooner); (iv) he has seven (7) days following the date he signs this Agreement to revoke this Agreement (in a written revocation delivered to me); and (v) this Agreement will not be effective until the date upon which the revocation period has expired, which will be the eighth day after Employee signs this Agreement provided that he does not revoke it (the "Effective Date").

7.Section 1542 Waiver. Employee acknowledges that he has read Section 1542 of the Civil Code of the State of California, which states in full:

A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor.

Employee waives any rights that he has or may have under Section 1542 (or any similar provision of the laws of any other jurisdiction) to the full extent that he may lawfully waive such rights pertaining to this general release of claims, and affirms that he is releasing all known and unknown claims that he has or may have against the parties listed above.

8.Excluded Claims/Protected Rights. Notwithstanding the foregoing, the following are not included in the Release of Claims (the "Excluded Claims"): (i) any rights or claims for indemnification Employee may have pursuant to any written indemnification agreement with the Company to which he is a party, the charter, bylaws, or operating agreements of the Company, or under applicable law; (ii) any rights which are not waivable as a matter of law; and (iii) any claims for breach of this Agreement. Employee hereby represents and warrants that, other than the Excluded Claims, Employee is not aware of any claims he has or may have against any of the Released Parties that are not included in the Released Claims. Employee understands that nothing in this Agreement limits his ability to file a charge or complaint with the Equal Employment Opportunity Commission, 

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

the Department of Labor, the National Labor Relations Board, the Occupational Safety and Health Administration, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission ("Government Agencies"). Employee further understands this Agreement does not limit his ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. While this Agreement does not limit Employee's right to receive an award for information provided to the Securities and Exchange Commission, Employee understands and agrees that, to maximum extent permitted by law, Employee is otherwise waiving any and all rights he may have to individual relief based on any claims that he has released and any rights he has waived by signing this Agreement.

9.Continuing Obligations and Return of Company Property. Employee acknowledges and agrees that he shall continue to be bound by and comply with the terms of the Proprietary Information and Inventions Assignment Agreement entered into between Employee and the Company. On or before the Separation Date, Employee will return to the Company, in good working condition, all Company property and equipment that is in Employee's possession or control, including, but not limited to, any files, records, computers, computer equipment, cell phones, credit cards, keys, programs, manuals, business plans, financial records, customer information, and all documents (whether in paper, electronic, or other format, and any copies thereof) that Employee prepared or received in the course of his employment with the Company (with the exception of a copy of any employee handbook and personnel documents specifically relating to Employee). In addition, if Employee used any personally-owned computer, server, 
e-mail system, mobile phone, or portable electronic device (e.g., iPhone), (collectively, "Personal Systems") to receive, store, prepare or transmit any Company confidential or proprietary data, materials or information, then by no later than the Separation Date, Employee will make reasonable and good faith efforts to permanently delete and expunge all such Company confidential or proprietary information from such Personal Systems without retaining any copy or reproduction in any form and, if the Company requests, will provide a written certification to that effect. Employee also agrees to sign and return to the Company on the Separation Date the Termination Certificate, attached hereto as Exhibit B.

10.Mutual Non-Disparagement. Employee agrees that he will not, at any time in the future, make any disparaging statements to any third parties (including, without limitation, any print or broadcast media) about the Company, or any of its products, services, employees, or clients, unless such statements are made truthfully in connection with a government investigation, in response to a subpoena, or other legal process. In addition, nothing in this provision or this Agreement is intended to prohibit or restrain Employee in any manner from making disclosures that are protected under the whistleblower provisions of federal law or regulation or under other applicable law or regulation.  The Company agrees to refrain from any disparaging statements about Employee.  Employee understands that the Company’s obligations under this paragraph extend only to the Company’s current executive officers and members of its Board of Directors and only for so long as each officer or member is an employee or Director of the Company. 

11.Non-Solicitation of Co-Workers. Employee agrees that for a period of one (1) year following the Separation Date, he will not, on behalf of himself or any other person or entity, directly 

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

or indirectly solicit any employee, independent contractor, or consultant of the Company to terminate his/her employment or relationship with the Company in order to become an employee, consultant or independent contractor for any other person or entity.

12.Agreement Not To Assist With Other Claims. Subject to paragraph 8 governing Employee’s protected rights, Employee agrees that he shall not, at any time in the future, encourage any current or former Company employee, or any other person or entity, to file any legal or administrative claim of any type or nature against the Company or any of its officers or employees. Employee further agrees that he shall not, at any time in the future, assist in any manner any current or former Company employee, or any other person or entity, in the pursuit or prosecution of any legal or administrative claim of any type or nature against the Company or any of its officers or employees, unless pursuant to a duly-issued subpoena or other compulsory legal process.

13.No Admissions. Nothing contained in this Agreement shall be construed as an admission by either Employee or the Company of any liability, obligation, wrongdoing, or violation of law.

14.Representations. Employee hereby represents and warrants that to date: (i) Employee has received all the leave and leave benefits and protections for which he is eligible pursuant to FMLA, any applicable law or Company policy; and (iii) Employee has not suffered any on-the-job injury or illness for which he has not already filed a workers' compensation claim.

15.Compliance with Section 409A. It is the intent of the parties to this Agreement that all payments made hereunder will either comply with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended, and the regulations and other guidance issued thereunder ("Section 409A") or comply with an exemption from Section 409A such that no payments made under this Agreement are includible in income pursuant to Section 409A, and the terms and conditions of this Agreement shall be construed and interpreted consistent with such intent. All payments made under this Agreement shall be treated as separate payments and shall not be aggregated with any other payment for purposes of Section 409A.

16.Attorneys' Fees. In the event of any legal action relating to or arising out of this Agreement, the prevailing party shall be entitled to recover from the losing party its attorneys' fees and costs incurred in that action.

17.Governing Law/Venue. This Agreement shall be interpreted in accordance with and governed by the laws of the State of California. In the event of any litigation relating to or arising out of this Agreement, the parties agree that the Superior Court of California located in the County of Santa Clara shall be the sole and exclusive venue for all such actions.

18.Severability. If any provision of this Agreement is deemed invalid, illegal, or unenforceable, that provision will be modified so as to make it valid, legal, and enforceable, or if it cannot be so modified, it will be stricken from this Agreement, and the validity, legality, and enforceability of the remainder of the Agreement shall not in any way be affected.

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

19.Integration and Modification. This Agreement, along with any agreements referenced herein as well as Exhibit A attached to the Agreement, constitute the entire agreement between the parties with respect to the termination of their employment relationship and the other matters covered herein, and they supersede all prior negotiations and agreements between the parties regarding those matters, whether written or oral. This Agreement may not be modified or amended except by a document signed by both the Senior Vice President of Human Resources of the Company and Employee.

[signature page to follow]

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

Dated: December 20, 2017                By:   /s/ Benjamin Sitler
       Benjamin L. Sitler

 

Dated: December 20, 2017                By:  /s/ Karen Drosky
       Karen Drosky
       Vice President, Human Resources
        NeoPhotonics Corporation
    

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

EXHIBIT A
SEPARATION DATE RELEASE
(To be signed on or within twenty-one (21) days after the Separation Date.)
In consideration for the various benefits provided to me by NeoPhotonics Corporation (the "Company") pursuant to the Separation Agreement and General Release of Claims with
the Company dated    • (the "Agreement"), I agree to the terms below.
I hereby and completely release the Company and its parents, divisions, subsidiaries, and affiliated entities, and each of their respective current and former shareholders, investors, directors, officers, members, employees, agents, attorneys, insurers, legal successors, assigns, and affiliates (the "Released Parties") of and from any and all claims, actions and causes of action, whether now known or unknown, which I now have, or at any other time had, or shall or may have against those Released Parties based upon or arising out of any matter, cause, fact, thing, act or omission whatsoever occurring or existing at any time up to and including the date on which I sign this Agreement, including, but not limited to, any claims of breach of express or implied contract, wrongful termination, constructive discharge, retaliation, fraud, defamation, infliction of emotional distress or national origin, race, age, sex, sexual orientation, disability or other discrimination or harassment under the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the California Fair Employment and Housing Act, the California Labor Code, the Fair Labor Standards Act, the Fair Credit Reporting Act, or any other applicable law (all listed statutes in this paragraph as they have been, or are in the future, amended).
I acknowledge that I am knowingly and voluntarily waiving and releasing any rights I may have under the ADEA, and that the consideration given for the waiver and release in this Release pursuant to the Agreement is in addition to anything of value to which I am already entitled. I further acknowledge that I have been advised, as required by the ADEA, that: (i) my waiver and release does not apply to any rights or claims that may arise after the date that I sign this Release; (ii) I should consult with an attorney prior to signing this Release (although I may choose voluntarily not to do so); (iii) I have twenty-one (21) days to consider this Release (although I may choose voluntarily to sign it earlier); (iv) I have seven (7) days following the date I sign this Release to revoke it (by providing written notice of my revocation to the Company); and (v) this Release will not be effective until the date upon which the revocation period has expired, which will be the eighth day after the date that this Release is signed by me provided that I do not revoke it (the "Release Effective Date").
I UNDERSTAND THAT THIS RELEASE INCLUDES A RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS. I acknowledge that I have read and understand Section 1542 of the 

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

California Civil Code which reads as follows: "A general release does not extend to claims which the creditor does not know or suspect to exist in his or her favor at the time of executing the release, which if known by him or her must have materially affected his or her settlement with the debtor." I hereby expressly waive and relinquish all rights and benefits under that 
section and any law or legal principle of similar effect in any jurisdiction with respect to my release of claims herein, including but not limited to the release of unknown and unsuspected claims.
I am not releasing: (i) any rights or claims for indemnification I may have pursuant to any written indemnification agreement with the Company to which I am a party or under applicable law; (ii) any rights which are not waivable as a matter of law; and (iii) any claims for breach of this Agreement.
I understand that nothing in this Agreement limits my ability to file a charge or complaint with the Equal Employment Opportunity Commission, the Department of Labor, the National Labor Relations Board, the Occupational Safety and Health Administration, the California Department of Fair Employment and Housing, the Securities and Exchange Commission or any other federal, state or local governmental agency or commission ("Government Agencies"). I further understand this Agreement does not limit my ability to communicate with any Government Agencies or otherwise participate in any investigation or proceeding that may be conducted by any Government Agency, including providing documents or other information, without notice to the Company. While this Agreement does not limit my right to receive an award for information provided to the Securities and Exchange Commission, I understand and agree that, to maximum extent permitted by law, I am waiving any and all rights I may have to individual relief based on any claims that I have released and any rights I have waived by signing this Release.
I hereby confirm that other than the Severance Benefits, to date: I have been paid all earned compensation owed for all hours worked by me for the Company; I have received all leave and leave benefits and protections for which I was eligible (pursuant to the Family and Medical Leave Act or otherwise) in connection with my work with the Company; and I have not suffered any injury or illness in connection with my work with the Company for which I have not already filed a claim.
This Release, together with the Agreement (including all exhibits thereto), constitutes the complete, final and exclusive embodiment of the entire agreement between me and the Company with regard to the subject matter hereof. It is entered into without reliance on any promise or representation, written or oral, other than those expressly contained in the Release or the Agreement, and it entirely supersedes any other such promises, warranties or representations, whether oral or written.

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

	
		
	Dated: ______________, 2017
	By: __________

	 
	Benjamin L. Sitler

	 
	 

EXHIBIT B
TERMINATION CERTIFICATE
This is to certify that I do not have in my possession, nor have I failed to return, any devices, records, data, notes, reports, proposals, lists, correspondence, specifications, drawings, blueprints, sketches, materials, equipment, other documents or property, or reproductions of any aforementioned items belonging to NeoPhotonics Corporation, its subsidiaries, affiliates, successors or assigns (together the "Company").
I further certify that I have complied with all the terms of the Company's Proprietary Information and Inventions Agreement signed by me, including the reporting of any inventions and original works of authorship (as defined therein), conceived or made by me (solely or jointly with others) covered by that agreement.
I further agree that, in compliance with Proprietary Information and Inventions Agreement, I will preserve as confidential all trade secrets, confidential knowledge, data or other proprietary information relating to products, processes, know-how, designs, formulas, developmental or experimental work, computer programs, data bases, other original works of authorship, customer lists, business plans, financial information or other subject matter pertaining to any business of the Company or any of its employees, clients, consultants or licensees.
I further agree that, in compliance with the Proprietary Information and Inventions Agreement, for one (1) year after the date of termination of my employment, I will not, either directly or through others, solicit or attempt to solicit any employee, independent contractor or consultant of the Company to terminate his or her relationship with the Company in order to become an employee, consultant or independent contractor to or for any other person or entity.
 	
		
	Dated: ______________, 2017
	By: __________

	 
	Benjamin L. Sitler

	 
	 

2911 Zanker Road, San Jose, CA 95134-2125  USA  T +1.408.232.9200  F +1.408.456.2971  www.neophotonics.com

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