Document:

ttoo-ex101_13.htm

Exhibit 10.1

 

	
AMENDMENT OF SOLICITATION/MODIFICATION OF CONTRACT
	
 
	
1. CONTRACT ID CODE
	
 
	
PAGE OF PAGES

	
 
	
 
	
 
	
 
	
1
	
1

	
2. AMENDMENT/MODIFICATION NO.
	
3. EFFECTIVE DATE
	
4. REQUISITION/PURCHASE REQ. NO.
	
5. PROJECT NO. (If applicable)

	
P00003
	
07/25/2021
	
 
	
 
	
 

	
6. ISSUED BY
	
CODE
	
ASPR-BARDA
	
7. ADMINISTERED BY (If other than Item 6)
	
CODE
	
ASPR-BARDA

	
ASPR-BARDA

200 Independence Ave., S.W.

Room 640-G

Washington DC 20201
	
ASPR-BARDA

US DEPT OF HEALTH & HUMAN SERVICES

BIOMEDICAL ADVANCED RESEACH & DEVELOPMENT AUT

200 INDEPENDENCE AVE, S.W.

Washington DC 20201

	
8. NAME AND ADDRESS OF CONTRACTOR (No., street, county, State and ZIP Code)
	
(x)
	
9A. AMENDMENT OF SOLICITATION NO.

	
T2 BIOSYSTEMS, INC. 1512719 

Attn: STEPHEN HAGAN

T2 BIOSYSTEMS, INC.          101 HARTWE

101 HARTWELL AVE 

LEXINGTON MA  024213125
	
 
	
 
	
 
	
 

	
 
	
9B. DATED (SEE ITEM 11)
	
 
	
 

	
 
	
 

	
x
	
10A. MODIFICATION OF CONTRACT/ORDER NO. 

75A50119C00053

	
 
	
 
	
 
	
 

	
 
	
10B. DATED (SEE ITEM 13)
	
 
	
 

	
CODE
	
1512719
	
FACILITY CODE
	
 
	
 
	
09/30/2019
	
 
	
 

	
11.  THIS ITEM ONLY APPLIES TO AMENDMENTS OF SOLICITATIONS

	
☐The above numbered solicitation is amended as set forth in Item 14. The hour and date specified for receipt of Offers
	
 
	
☐is extended.
	
☐is not extended.

	
Offers must acknowledge receipt of this amendment prior to the hour and date specified in the solicitation or as amended, by one of the following methods: (a) By completing Items 8 and 15, and returning                          copies of the amendment; (b) By acknowledging receipt of this amendment on each copy of the offer submitted , or (c) By separate letter or electronic communication which includes a reference to the solicitation and amendment numbers. FAILURE OF YOUR ACKNOWLEDGEMENT TO BE RECEIVED AT THE PLACE DESIGNATED FOR THE RECEIPT OF OFFERS PRIOR TO THE HOUR AND DATE SPECIFIED MAY RESULT IN REJECTION OF YOUR OFFER. If by virtue of this amendment you desire to change an offer already submitted, such change may be made by letter or electronic communication, provided each letter or electronic communication makes reference to the solicitation and this amendment, and is received prior to the opening hour and date specified.

	
12.  ACCOUNTING AND APPROPRIATION DATA (If required)
	
 
	
 
	
 

	
See Schedule

	
13.  THIS ITEM ONLY APPLIES TO MODIFICATION OF CONTRACTS/ORDERS. IT MODIFIES THE CONTRACT/ORDER NO. AS DESCRIBED IN ITEM 14.

	
CHECK ONE
	
A. THIS CHANGE ORDER IS ISSUED PURSUANT TO: (Specify authority) THE CHANGES SET FORTH IN ITEM 14 ARE MADE IN THE CONTRACT ORDER NO. IN ITEM 10A.

	
 

	
 
	
B. THE ABOVE NUMBERED CONTRACT/ORDER IS MODIFIED TO REFLECT THE ADMINISTRATIVE CHANGES (such as changes in paying office, appropriation data, etc.) SET FORTH IN ITEM 14, PURSUANT TO THE AUTHORITY OF FAR 43.103(b).

	
X
	
C. THIS SUPPLEMENTAL AGREEMENT IS ENTERED INTO PURSUANT TO AUTHORITY OF:

FAR 52.243-2 Changes – Cost Reimbursement, Alt V (Apr 1984)

	
 
	
D. OTHER (Specify type of modification and authority)

	
E. IMPORTANT:
	
Contractor
	
☐is not
	
☒is required to sign this document and return
	
1
	
 
	
copies to the issuing office.

	
 
	
 
	
 
	
 
	
 

	
14.  DESCRIPTION OF AMENDMENT/MODIFICATION (Organized by UCF section headings, including solicitation/contract subject matter where feasible.)

 

Tax ID Number: 20-4827488 

DUNS Number: 803126320

The purpose of this modification is to modify extend the period of performance from July 24, 2021 to October 16, 2021 with NO ADDITIONAL COST to the Government. In addition, this modification will modify the following Articles: B.3 Option Periods; G.1 Contracting officer; F.2 Deliverables; as well as update Section J with Attachment #1 - Statement of Work, dated April 9, 2021.

 

 

	
CONTINUATION SHEET
	
REFERENCE NO. OF DOCUMENT BEING CONTINUED
	
PAGE      OF

	
75A50119C00053/P00003
	
2
	
6

 

Period or Performance: 09/25/2019 to 10/16/2021

The period of performance [Option One] will be extended from July 24, 2021 to October 16, 2021.

Continued ...

Except as provided herein, all terms and conditions of the document referenced in Item 9A or 10A, as heretofore changed, remains unchanged and in full force and effect.

 

	
15A.NAME AND TITLE OF SIGNER (Type or print)
	
16A. NAME AND TITLE OF CONTRACTING OFFICER (Type or print)

	
 
	
 

	
Alec Barclay, Chief Operations Officer
	
ROSHAWN K. MAJORS

	
 
	
 
	
 
	
 

	
15B. CONTRACTOR/OFFEROR
	
15C. DATE SIGNED
	
16B. UNITED STATES OF AMERICA
	
16C. DATE SIGNED

	
 
	
/S/ ALEC BARCLAY
	
 
	
04/30/2021
	
 
	
Roshawn K. Simpson-S
	
Digitally signed by Roshawn K. Simpson-S

Date: 2021.05.04 10:02:52-04’00’
	
 
	
04/30/2021

	
(Signature of person authorized to sign)
	
 
	
(Signature of Contracting Officer)
	
 

	
 
	
 
	
 

	
Previous edition unusable
	
 
	
STANDARD FORM 30 (REV. 11/2016)

	
 
	
 
	
Prescribed by GSA FAR (48 CFR) 53.243

 

NAME OF OFFEROR OR CONTRACTOR

T2 BIOSYSTEMS, INC. 1512719

 

	
ITEM NO.
	
SUPPLIES/SERVICES
	
QUANTITY
	
UNIT
	
UNIT PRICE,
	
AMOUNT

	
(A)
	
(B)
	
(C)
	
(D)
	
(E)
	
(F)

	
 
	
The contract current value (BARDA only) remains as [***]

 
	
 
	
 
	
 
	
 

	
 
	
The contract current obligated amount (BARDA) remains as [***]

 
	
 
	
 
	
 
	
 

	
 
	
The overall contract value (BARDA) remains at $68,952,025.00 [UNCHANGED]

 
	
 
	
 
	
 
	
 

	
 
	
The overall contract period of performance is changed from [***]
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
 
	
 
	
 
	
 
	
 
	
 

	
NSN 7540-01-152-8067
	
 
	
OPTIONAL FORM 336 (4-86)

	
 
	
 
	
Sponsored by GSA 

	
 
	
 
	
FAR (48 CFR) 53.110

 

 

 

 

 

	
Contract No: 75A50119C00053

Modification No: P0002
	
SPECIAL PROVISIONS
	
Page 3 of 6

 

 

 

SUPPLEMENTAL AGREEMENT

 

**RED BOLD font denotes applicable changes

 

Beginning with the effective date of this modification, the Government and the Contractor mutually agree as follows: 

 

Under SECTION B – SUPPLIES OR SERVICES AND PRICES/COSTS, ARTICLE B.3 is hereby modified to reflect the following:

 

ARTICLE B.3 OPTION PERIODS

 

B.3 COST REIMBURSMENT OPTIONS [table]

 

	
Option
	
CLIN
	
Period of

Performance
	
Supplies/Services
	
BARDA

Estimated

Not to 

Exceed
	
T2

Estimated

Not to 

Exceed
	
Overall Total

Estimated

Not to 

Exceed

	
1
	
0002
	
 [***]
	
Option 1 Period:  [***]
	
$10,495,783
	
 

 

 

 

 

 

 

 

 

 

$[***]
	
 

 

 

 

 

 

 

 

 

 

$[***]

 

 

 

 

 

 

 

 

 

	
2
	
0003
	
[***]
	
Option 2 Period: [***] 

 
	
$[***]
	
 

 

 

 

$[***]
	
 

 

 

 

$[***]

 

 

 

 

 

	
Contract No: 75A50119C00053

Modification No: P0002
	
SPECIAL PROVISIONS
	
Page 4 of 6

 

	
3
	
0004
	
[***]
	
Option 3 Period:  [***]
	
 

 

 

$[***]
	
 

 

 

$[***]
	
 

 

 

$[***]

 

 

	
4
	
0005
	
[***]
	
Option 4 Period:  [***]
	
  

 

 

 

 

$[***]
	
 

 

 

 

 

$[***]
	
 

 

 

 

 

$[***]

 

 

 

 

 

	
5
	
0006
	
[***]
	
Option 5 Period:  [***]
	
 

 

 

 

 

 

 

$[***]
	
 

 

 

 

 

 

 

$[***]
	
 

 

 

 

 

 

 

$[***]

 

 

 

 

 

 

 

 

	
6
	
0007
	
[***]
	
Option 6 Period:  [***] 
	
 

 

 

 

 

 

 

$[***]
	
 

 

 

 

 

 

 

$[***]
	
 

 

 

 

 

 

 

$[***]

 

 

 

 

 

 

 

 

 

 

 

 

[***] – Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

 

 

	
Contract No: 75A50119C00053

Modification No: P0002
	
SPECIAL PROVISIONS
	
Page 5 of 6

 

	
Optional Services
	
0008
	
 [***]
	
  [***]
	
$[***]
	
 

 

 

 

 

 

 

 

 

 

$[***]
	
 

 

 

 

 

 

 

 

 

 

$[***]

 

 

 

 

 

 

 

 

 

	
 
	
 
	
TOTALS
	
Only option years
	
$[***]
	
$[***]
	
$[***]

	
 
	
 
	
TOTALS
	
Base + options
	
$[***]
	
$[***]
	
$[***]

 

All other contract terms under Section B remains unchanged.

 

Under SECTION C - DESCRIPTION/SPECIFICATIONS/WORK STATEMENT, Statement of Work is hereby modified to reflect Attachment # 1 dated April 9, 2021 in Section J of this contract.

 

All other contract terms under Section C remains unchanged.

 

Under SECTION F – DELIVERIES OR PERFORMANCE, is hereby modified to reflect the following:

 

ARTICLE F. 2 DELIVERABLES

 

Successful performance of the final contract shall be deemed to occur upon completion of performance of the work set forth in the Statement of Work dated April 9, 2021, set forth in Section J - List of Attachments of this contract and upon delivery and acceptance, as required by the Statement of Work, by the COR, of each of the deliverables described in Section C, Section F, and Section J.

 

All other contract terms under Section F remains unchanged.

[***] – Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

 

 

	
Contract No: 75A50119C00053

Modification No: P0002
	
SPECIAL PROVISIONS
	
Page 6 of 6

 

 

Under SECTION G – CONTRACT ADMINISTRATION DATA is hereby modified to reflect the following:

 

G.1. CONTRACTING OFFICER

 

The following Contracting Officers (CO) will represent the Government for the purpose of this contract:

 

Roshawn Washington (Simpson) 

U.S. Department of Health & Human Services

Office of the Assistant Secretary for Preparedness and Response (ASPR)

Biomedical Advanced Research and Development Authority (BARDA)

Division of Contract Management and Acquisition (DCMA)

O’Neill House Office Building

Washington, DC 20515

202-868-9276 (Direct)

roshawn.simpson@hhs.gov

 

Under SECTION J LIST OF ATTACHMENTS is hereby modified to reflect the following:

 

	
 
	
1.
	
STATEMENT OF WORK

Statement of Work, dated April 9, 2021, 28 pages

 

All other contract terms under Section J remains unchanged.

 

CONTRACTOR’S STATEMENT OF RELEASE

 

In consideration of the modification(s) agreed to herein as complete and equitable adjustments of any sort are NOT due from Contractor's revision of Section J, Attachment 1 – Statement of Work, dated April 9, 2021.  The Contractor hereby releases the Government from any and all liability under the contract for further equitable adjustments attributable to such facts or circumstances as a result of this action.

 

[***] – Certain confidential information contained in this document, marked by brackets, has been omitted because it is both (i) not material and (ii) would be competitively harmful if publicly disclosed.

 

ATTACHMENT #1

DATE APRIL 9, 2021

 

 

 

All other contract terms remain unchanged.

 

END OF MODIFICATION P00003

 

ATTACHMENT 1

 

Biomedical Advanced Research and Development Authority (BARDA) Broad Agency Announcement (BAA) (Solicitation   #BAA-18-100-SOL-00003)

 

Advanced Research and Development of Chemical, Biological, Radiological, and Nuclear Medical Countermeasures

 

RAPID, HIGH-THROUGHPUT, MULTIPLEXED DETECTION OF BIOTHREAT SPECIES ID AND RESISTANCE GENES USING T2MR

 

Topic Area of Interest No. [7.2.4 & 7.3.3] Statement of Work DATED April 9, 2021 (Diagnostics/Devices Product Development)

 

STATEMENT OF WORK

 

[***]

 

 

1 of 38ttoo-ex103_10.htm

Exhibit 10.3

T2 BIOSYSTEMS, Inc.

 

Non-Employee DIRECTOR COMPENSATION PROGRAM

(effective as of April 27, 2021)

 

Non-employee members of the board of directors (the “Board”) of T2 Biosystems, Inc. (the “Company”) shall be eligible to receive cash and equity compensation as set forth in this Non-Employee Director Compensation Program (this “Program”).  The cash and equity compensation described in this Program shall be paid or be made, as applicable, automatically and without further action of the Board, to each member of the Board who is not an employee of the Company or any parent or subsidiary of the Company (each, a “Non-Employee Director”) who may be eligible to receive such cash or equity compensation, unless such Non-Employee Director declines the receipt of such cash or equity compensation by written notice to the Company.  This Program shall remain in effect until it is revised or rescinded by further action of the Board.  This Program may be amended, modified or terminated by the Board at any time in its sole discretion.  The terms and conditions of this Program shall, as of its effective date set forth above (the “Effective Date”), supersede any prior cash and/or equity compensation arrangements for service as a member of the Board between the Company and any of its Non-Employee Directors.  No Non-Employee Director shall have any rights hereunder, except with respect to stock options and restricted stock units granted pursuant to the Program.  

1.Annual Compensation.  

(a)Annual Retainers.  Each Non-Employee Director shall be eligible to receive an annual retainer of $40,000 for service on the Board (the “Annual Retainer”).  

(b)Additional Annual Retainers.  In addition, each Non-Employee Director shall be eligible to receive the following annual retainers (each, a “Committee Member Retainer”):

(i)Chairman of the Board or Lead Independent Director.  A Non-Employee Director serving as Chairman of the Board or Lead Independent Director shall receive an additional annual retainer of $40,000 for such service.

(ii)Audit Committee.  A Non-Employee Director serving as Chairperson of the Audit Committee shall receive an additional annual retainer of $20,000 for such service. A Non-Employee Director serving as a member of the Audit Committee shall receive an additional annual retainer of $10,000.

(iii)Compensation Committee.  A Non-Employee Director serving as Chairperson of the Compensation Committee shall receive an additional annual retainer of $15,000 for such service. A Non-Employee Director serving as a member of the Compensation Committee shall receive an additional annual retainer of $6,000.

(vi) Nominating and Corporate Governance Committee.  A Non-Employee Director serving as Chairperson of the Nominating and Corporate Governance Committee shall receive an additional annual retainer of $10,000 for such service.  A Non-

 

 

 

 

US-DOCS\95084447.3

 

Employee Director serving as a member of the Nominating and Corporate Governance Committee shall receive an additional annual retainer of $5,000.

(c)Payment of Retainers.  The Annual Retainer and Committee Member Retainer shall be earned on a quarterly basis based on a calendar quarter and shall be paid by the Company in cash in arrears not later than the fifteenth day following the end of each calendar quarter.  In the event a Non-Employee Director does not serve as a Non-Employee Director, or in the applicable positions described in Section 1(b), for an entire calendar quarter, the retainer paid to such Non-Employee Director shall be prorated for the portion of such calendar quarter actually served as a Non-Employee Director, or in such position, as applicable.  Any changes to the retainers set forth above shall be pro-rated based on the effective date of such change.

 

(d) Annual Retainer Election. For each calendar year of the Non-Employee Director’s service, the Non-Employee Director will have the opportunity to elect in writing in a form provided by the Company and delivered to the Company, prior to January 1 of the applicable year, payment of the Annual Retainer in cash or an equivalent number of Restricted Stock Units (as defined in the Company’s 2014 Incentive Award Plan or any other applicable Company equity incentive plan then-maintained by the Company (the “Equity Plan”)), determined by dividing (1) the Annual Retainer by (2) the Fair Market Value (as defined in the Plan) of one share of the Company’s common stock on the last trading day prior to January 1 of the year to which the Annual Retainer relates.  Restricted Stock Units will be issued under, and subject to the terms of, the Equity Plan and a separate restricted stock unit agreement and will vest, subject to the Non-Employee Director’s continued service, in one single installment on January 1 of the year following the year to which the Annual Retainer relates.  Unless otherwise determined by the Board, unvested Restricted Stock Units will be forfeited upon the Non-Employee Director’s termination of service.  

 

2.Equity Compensation.  Non-Employee Directors shall be granted the equity awards described below.  The awards described below shall be granted under and shall be subject to the terms and provisions of the Equity Plan and shall be granted subject to award agreements, including attached exhibits, in substantially the forms previously approved by the Board.  All applicable terms of the Equity Plan apply to this Program as if fully set forth herein, and all grants of stock options hereby are subject in all respects to the terms of the Equity Plan.  For the avoidance of doubt, the share numbers in Sections 2(a) and 2(b) shall be subject to adjustment as provided in the Equity Plan.

	

	
(a)Initial Awards.  Each Non-Employee Director who is initially elected or appointed to the Board after the Effective Date shall be eligible to receive such number of Restricted Stock Units equal to 1.5 times the number of Restricted Stock Units subject to the Subsequent Award (as defined below) most recently granted pursuant to Section 2(b) below, including any Subsequent Award made on the date of election or appointment of the Non-Employee Director receiving the award. The awards described in this Section 2(a) shall be referred to as “Initial Awards.”  No Non-Employee Director shall be granted more than one Initial Award.  

	

	
(b)Subsequent Awards.  A Non-Employee Director who (i) has been serving as a Non-Employee Director on the Board for at least six months as of the date of any Annual Meeting and (ii) will continue to serve as a Non-Employee Director immediately following such meeting, shall be automatically granted on the date of the Annual Meeting a number of Restricted 

2

 

US-DOCS\95084447.3

 

		
Stock Units equal to (A) 81,967 in the case of the Chairman and Lead Independent Director, and (B) 73,224 for all other Non-Employee Directors (which number shall be subject to adjustment in accordance with the Equity Plan in the event of any stock splits, dividends, recapitalizations and the like effected after the Effective Date)  The awards described in this Section 2(b) shall be referred to as “Subsequent Awards.”  For the avoidance of doubt, a Non-Employee Director elected for the first time to the Board at an Annual Meeting shall only receive an Initial Award in connection with such election, and shall not receive any Subsequent Award on the date of such meeting as well.  

 

(c)Termination of Service of Employee Directors.  Members of the Board who are employees of the Company or any parent or subsidiary of the Company who subsequently terminate their service with the Company and any parent or subsidiary of the Company and remain on the Board will not receive an Initial Award pursuant to Section 2(a) above, but to the extent that they are otherwise eligible, will be eligible to receive, after termination from service with the Company and any parent or subsidiary of the Company, Subsequent Awards as described in Section 2(b) above.  

(d)Vesting of Awards Granted to Non-Employee Directors.Each Initial Award shall vest in substantially equal installments on each of the first three anniversaries of the date of grant, subject to the Non-Employee Director continuing in service on the Board through each such vesting date.  Each Subsequent Award shall vest in one installment on the earlier of (i) the first anniversary of the grant date and (ii) the date of the next annual meeting of stockholders, subject to the Non-Employee Director continuing in service on the Board through such vesting date.  Unless the Board otherwise determines, any portion of an Initial Award or Subsequent Award which is unvested at the time of a Non-Employee Director’s termination of service on the Board shall be immediately forfeited upon such termination of service and shall not thereafter become vested.  All of a Non-Employee Director’s Restricted Stock Units granted in respect of the Annual Retainer, Initial Awards and Subsequent Awards shall vest in full immediately prior to the occurrence of a Change in Control (as defined in the Equity Plan), to the extent outstanding at such time.

* * * * *

3

 

US-DOCS\95084447.3

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