Document:

Document

Exhibit 10.4

August 30, 2021

Pete Gerstberger Orange County, CA

Re:    Employment Agreement

Dear Pete:

The Honest Company, Inc. (the “Company”) is pleased to offer you at-will employment in the position of SVP, Chief Digital and Strategy on the terms and conditions set forth in this letter agreement (the “Agreement”).

1.Employment by the Company. This Agreement and your employment under the terms hereunder shall take effect on October 4, 2021 (the “Effective Date”). This is an exempt position, and during your employment with the Company, you will devote your best efforts and substantially all of your business time and attention to the business of the Company, except for approved vacation periods and reasonable periods of illness or other incapacities permitted by the Company’s general employment policies. You shall perform such duties as are required by the Company’s Chief Executive Officer (“CEO”), to whom you will report. Your primary work location shall be the Company’s office located in Los Angeles, California. The Company reserves the right to reasonably require you to perform your duties at places other than your primary office location from time to time, and to require reasonable business travel.

2.Compensation.

2.1.Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $ 325,000 per year (the “Base Salary”), subject to standard payroll deductions and withholdings and payable in accordance with the Company’s regular payroll schedule.

2.2.Annual Bonus. You will be eligible for an annual discretionary bonus with a target amount of 50% of your then current annual Base Salary (the “Annual Bonus”). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the “Board”) in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board and other criteria to be determined by the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. If your employment terminates for any reason prior to the payment date, you will not have earned, and will not be paid, any pro-rated bonus. The Annual Bonus, if earned, shall be paid to you in a lump

sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings.

2.3.    Sign on Bonus. You will be paid a cash bonus of $300,000. The first installment of 50% of the sign on bonus will be paid out within 60 days of the Effective Date, and the remaining 50% will be paid out 18 months from the Effective Date. Each sign on bonus payment is subject to repayment to the Company if you resign without Good Reason or are terminated for Cause within 12 months of the payment.

2.4   Equity. Subject to the approval of the Board and you remaining employed by the Company through the grant date, the Company will grant you restricted stock units (“RSUs”) having a grant date value approximately equal to $3,450,000 as soon as administratively practicable following the Effective Date, with the number of RSUs to be determined by the Board in its sole discretion. The RSUs will be granted under and governed by the Company’s 2021 Equity Incentive Plan (the “Plan”), and the Company’s standard restricted stock unit award agreement and grant notice approved by the Board for use under the Plan. Twenty percent (20%) of the RSUs will vest on the Company quarterly vesting date next following the one- year anniversary of the Effective Date, and one-sixteenth (1/16th) of the remaining RSUs will vest on each of the next sixteen (16) Company quarterly vesting dates thereafter, subject to your Continuous Service (as defined in the Plan) on each vesting date. If within twelve (12) months of the Effective Date either your position is eliminated or you are terminated without Cause, then twenty percent (20%) of the granted RSUs identified above will accelerate and vest on your separation date. For clarity, the Board will determine the Company quarterly vesting dates at the time of grant in its sole and absolute discretion. You will be eligible for future equity awards as determined by the Board in its sole discretion.

3.Business Expenses. You will be eligible for reimbursement of all reasonable, necessary and documented out-of-pocket business, entertainment, and travel expenses incurred by you in connection with the performance of your duties hereunder in accordance with the Company's expense reimbursement policies and procedures.

4.Company Policies; Standard Company Benefits. The employment relationship between the parties shall be governed by the general employment policies and practices of the Company, except that when the terms of this Agreement differ from or are in conflict with the Company’s general employment policies or practices, this Agreement shall control. You shall remain eligible to participate in all employee benefit programs for which you are eligible under the terms and conditions of the benefit plans that may be in effect from time to time. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees, including senior management, at any time.

5.At-Will Employment. Your employment relationship is at-will. Either you or the Company may terminate the employment relationship at any time, with or without cause or advance notice. Subject to the “Good Reason” provision set forth 

in Section 7 and Section 8.3, the Company may, in its sole discretion, adjust salaries, incentive compensation, stock plans, benefits, job titles, locations, duties,

responsibilities, and reporting relationships. Upon termination of your employment for any reason, you shall resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination.

6.Outside Activities During Employment. Except with the prior written consent of the Board, you will not during the term of your employment with the Company undertake or engage in any other employment, occupation or business enterprise, other than ones in which you are a passive investor. You may engage in civic and not-for-profit activities so long as such activities do not materially interfere with the performance of your duties hereunder. You agree not to acquire, assume or participate in, directly or indirectly, any position, investment or interest known to be adverse or antagonistic to the Company, its business or prospects, financial or otherwise.

7.Termination; Severance.

7.1.Involuntary Termination. If you are subject to an Involuntary Termination and provided that you remain in compliance with the terms of this Agreement (including the conditions described in Section 7.3 below), the Company shall provide you with the following Severance Benefits:

(a)Cash Severance. The Company shall pay you, as severance, the equivalent of 6 months (the “Severance Period”) of your Base Salary in effect as of the date of your employment termination, subject to standard payroll deductions and withholdings and an amount equal to 6 months of health insurance under COBRA on an after-tax basis (the “Severance”). The Severance will be paid as a continuation on the Company’s regular payroll, beginning no later than the first regularly-scheduled payroll date following the sixtieth (60th) day after your Separation from Service, provided the Separation Agreement (as discussed in Section 7.3) has become effective.

(b)Payment of Continued Group Health Plan Benefits. If you are eligible for and timely elect continued group health plan coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 or any state law of similar effect (“COBRA”) following your Involuntary Termination, the Company will pay your COBRA group health insurance premiums for you and your eligible dependents directly to the insurer until the earliest of (A) the end of the period immediately following your Involuntary Termination that is equal to the Severance Period (the “COBRA Payment Period”), (B) the expiration of your eligibility for continuation coverage under COBRA, or (C) the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self- employment. For purposes of this Section, references to COBRA premiums shall not include any amounts payable by you under a Section 125 health care reimbursement plan under the Code. Notwithstanding the foregoing, if at any time the Company determines, in its sole discretion, that it cannot pay the COBRA premiums without potentially incurring financial costs or penalties under applicable law (including, without limitation, Section 2716 of the Public Health Service Act),

then regardless of whether you elect continued health coverage under COBRA, and in lieu of providing the COBRA premiums, the Company will instead pay you on the last day of each remaining month of the COBRA Payment Period, a fully taxable cash payment equal to the COBRA premiums for that month, subject to applicable tax withholdings (such amount, the “Special Severance Payment”), which payments shall continue until the earlier of expiration of the COBRA Payment Period or the date when you become eligible for substantially equivalent health insurance coverage in connection with new employment or self-employment. On the first payroll date following the effectiveness of the Release, the Company will make the first payment to the insurer under this clause (and, in the case of the Special Severance Payment, such payment will be to you, in a lump sum) equal to the aggregate amount of payments that the Company would have paid through such date had such payments instead commenced on the date of your Involuntary Termination, with the balance of the payments paid thereafter on the schedule described above. If you become eligible for coverage under another employer’s group health plan, you must immediately notify the Company of such event, and all payments and obligations under this subsection shall cease.

7.2.   Termination for Cause; Resignation Without Good Reason; Death or Disability. If you resign without Good Reason, or the Company terminates your employment for Cause, or upon your death or disability, then all payments of compensation by the Company to you hereunder will terminate immediately (except as to amounts already earned), and you will not be entitled to any Severance Benefits.     

7.3.   Conditions to Receipt of Severance Benefits. The receipt of the Severance Benefits will be subject to you signing and not revoking a separation agreement and release of claims in a form reasonably satisfactory to the Company (the “Separation Agreement”) by no later than the sixtieth (60th) day after your employment termination (“Release Deadline”). No Severance Benefits will be paid or provided until the Separation Agreement becomes effective. You shall also resign from all positions and terminate any relationships as an employee, advisor, officer or director with the Company and any of its affiliates, each effective on the date of termination.

8.Definitions.

8.1.Cause. For purposes of this Agreement, “Cause” means any one of the following: (a) willful material breach by you of any material Company policy (including, but not limited to, the Company’s policies on nondiscrimination, anti- harassment, and confidential information) or your duties or obligations hereunder;
(b) your willful engagement in conduct materially injurious to the Company, monetarily or otherwise; (c) acts of fraud, theft or other willful illegal acts calling into question your personal integrity, or conviction on a felony charge, whether or not related to your employment hereunder; or (d) your willful refusal to follow lawful instructions of the Board. In order to terminate your employment for Cause pursuant to (a) or (d), but only to the extent the Board determines in its reasonable discretion that such breach is amenable to cure, the Board must provide you written notice within thirty (30) days after the first occurrence of the event giving rise to Cause 

setting forth the basis for the existence of Cause, allow you thirty (30) days from receipt of such written notice to cure such event, and if such event is not reasonably cured within such period, the Company must terminate your employment not later than thirty (30) days after the expiration of the cure period.

8.2.   Code. For purposes of this Agreement, “Code” means the U.S. Internal Revenue Code of 1986 (as it has been and may be amended from time to time) and any regulations and guidance that has been promulgated or may be promulgated from time to time thereunder and any state law of similar effect.

8.3.   Good Reason. For purposes of this Agreement, “Good Reason” means any one of the following without your consent: (a) an assignment of duties or responsibilities (including reporting responsibilities) materially inconsistent with, or which materially reduce, your duties, authority, responsibilities and status with the Company; (b) an adverse change in your title; (c) any material reduction in your Base Salary, other than a reduction, generally applicable to other executives of the Company, by not more than 25%; (d) the relocation of your principal place of employment to a location that is more than twenty-five (25) miles away from its current location; or (e) the uncured breach of any material provision of this Agreement (or any other agreement with you) by the Company. In order to resign for Good Reason, you must provide written notice to the Company’s Board within thirty (30) days after the first occurrence of the event giving rise to Good Reason setting forth the basis for your resignation, allow the Company thirty (30) days from receipt of such written notice to cure such event, and if such event is not reasonably cured within such period, you must resign from all positions you then hold with the Company not later than thirty (30) days after the expiration of the cure period.  

8.4. Involuntary Termination. For purposes of this Agreement, “Involuntary Termination” means a termination of your employment with the Company pursuant to either (i) a termination initiated by the Company without Cause, or (ii) your resignation for Good Reason, and provided in either case such termination constitutes a Separation from Service. An Involuntary Termination does not include any other termination of your employment, including a termination due to your death or disability. 

8.5.   Separation from Service. For purposes of this Agreement, “Separation from Service” means a “separation from service”, as defined under Treasury Regulation Section 1.409A-1(h).

9.Proprietary Information Obligations. As a condition of your continued employment, you shall execute and abide by the Company’s standard form of Employee Confidential Information and Invention Assignment Agreement, attached as Exhibit A. In your work for the Company, you will be expected not to use or disclose any confidential information, including trade secrets, of any former employer or other person to whom you have an obligation of confidentiality. Rather, you will be expected to use only that information which is generally known and used by persons with training and experience comparable to your own, which is common knowledge in the industry or otherwise legally in the public domain, or which is  

otherwise provided or developed by the Company. You acknowledge that you have not brought onto Company premises any unpublished documents or property belonging to any former employer or other person to whom you have an obligation of confidentiality and have disclosed to the Company any contract you have signed that may restrict your activities on behalf of the Company.

10.Section 409A. It is intended that all of the severance benefits and other payments payable under this Agreement satisfy, to the greatest extent possible, the exemptions from the application of Code Section 409A provided under Treasury Regulations Sections 1.409A 1(b)(4), 1.409A 1(b)(5) and 1.409A 1(b)(9), and this Agreement will be construed to the greatest extent possible as consistent with those provisions, and to the extent not so exempt, this Agreement (and any definitions hereunder) will be construed in a manner that complies with Section 409A. For all purposes of Code Section 409A (including, without limitation, for purposes of Treasury Regulations Sections 1.409A 2(b)(2)(i) and (iii)), your right to receive any installment payments under this Agreement (whether severance payments, reimbursements or otherwise) shall be treated as a right to receive a series of separate payments and, accordingly, each installment payment hereunder shall at all times be considered a separate and distinct payment. Notwithstanding any provision to the contrary in this Agreement, if you are deemed by the Company at the time of your Separation from Service to be a “specified employee” for purposes of Code Section 409A(a)(2)(B)(i), and if any of the payments upon Separation from Service set forth herein and/or under any other agreement with the Company are deemed to be “deferred compensation,” then to the extent delayed commencement of any portion of such payments is required in order to avoid a prohibited distribution under Code Section 409A(a)(2)(B)(i) and the related adverse taxation under Section 409A, such payments shall not be provided to you prior to the earliest of (i) the first date following expiration of the six-month period following the date of your Separation from Service with the Company, (ii) the date of your death or (iii) such earlier date as permitted under Section 409A without the imposition of adverse taxation. Upon the first business day following the expiration of such applicable Code Section 409A(a)(2)(B)(i) period, all payments deferred pursuant to this Paragraph shall be paid in a lump sum to you, and any remaining payments due shall be paid as otherwise provided herein or in the applicable agreement. No interest shall be due on any amounts so deferred. If the severance benefits are not covered by one or more exemptions from the application of Section 409A and the Release Deadline occurs in the calendar year following the calendar year of your Separation from Service, the Release will not be deemed effective any earlier than the Release Deadline for purposes of determining the timing of provision of any severance benefits.

11.Arbitration of All Disputes.

11.1.Agreement to Arbitrate. To ensure the timely and economical resolution of disputes that may arise between you and the Company, both you and the Company mutually agree that pursuant to the Federal Arbitration Act, 9 U.S.C.
§1-16, and to the fullest extent permitted by applicable law, you and the Company will submit solely to final, binding and confidential arbitration any and all disputes, claims, or causes of action arising from or relating to: (i) the negotiation, execution,

interpretation, performance, breach or enforcement of this Agreement; or (ii) your application, hiring, and employment with the Company (including but not limited to all statutory claims); or (iii) the termination of your employment with the Company (including but not limited to all statutory claims). BY AGREEING TO THIS ARBITRATION PROCEDURE, BOTH YOU AND THE COMPANY WAIVE THE RIGHT TO RESOLVE ANY SUCH DISPUTES THROUGH A TRIAL BY JURY OR JUDGE OR THROUGH AN ADMINISTRATIVE PROCEEDING. 

11.2.  Arbitrator Authority. The arbitrator shall have the sole and exclusive authority to determine whether a dispute, claim or cause of action is subject to arbitration under this Section and to determine any procedural questions which grow out of such disputes, claims or causes of action and bear on their final disposition.

11.3.  Individual Capacity Only. All claims, disputes, or causes of action under this Section, whether by you or the Company, must be brought solely in an individual capacity, and shall not be brought as a plaintiff (or claimant) or class member in any purported class or representative proceeding, nor joined or consolidated with the claims of any other person or entity. The arbitrator may not consolidate the claims of more than one person or entity, and may not preside over any form of representative or class proceeding. To the extent that the preceding sentences in this Section are found to violate applicable law or are otherwise found unenforceable, any claim(s) alleged or brought on behalf of a class shall proceed in a court of law rather than by arbitration. 

11.4.  Arbitration Process. Any arbitration proceeding under this Section shall be presided over by a single arbitrator and conducted by Judicial Arbitration and Mediation Services, Inc. (“JAMS”) in Los Angeles County, California, or as otherwise agreed to by you and the Company, under the then applicable JAMS rules for the resolution of employment disputes (available upon request and also currently available at http://www.jamsadr.com/rules-employment-arbitration/). You and the Company both have the right to be represented by legal counsel at any arbitration proceeding, at each party’s own expense. The Arbitrator shall: (i) have the authority to compel adequate discovery for the resolution of the dispute; (ii) issue a written arbitration decision, to include the arbitrator’s essential findings and conclusions and a statement of the award; and (iii) be authorized to award any or all remedies that you or the Company would be entitled to seek in a court of law. The Company shall pay all JAMS arbitration fees in excess of the amount of court fees that would be required of you if the dispute were decided in a court of law. 

11.5. Excluded Claims. This Arbitration section shall not apply to any action or claim that cannot be subject to mandatory arbitration as a matter of law, including, without limitation, claims brought pursuant to the California Private Attorneys General Act of 2004, as amended, to the extent such claims are not permitted by applicable law to be submitted to mandatory arbitration and such applicable law is not preempted by the Federal Arbitration Act or otherwise invalid (collectively, the “Excluded Claims”). In the event you intend to bring multiple

claims, including any Excluded Claims, the Excluded Claims may be filed with a court, while any other claims will remain subject to mandatory arbitration. 

11.6.  Injunctive Relief and Final Orders. Nothing in this Section is intended to prevent either you or the Company from obtaining injunctive relief in court to prevent irreparable harm pending the conclusion of any such arbitration. Any final award in any arbitration proceeding hereunder may be entered as a judgment in the federal and state courts of any competent jurisdiction and enforced accordingly.

12.General Provisions. This Agreement, together with the Confidential Information and Inventions Assignment Agreement, constitutes the entire agreement between you and the Company with regard to this subject matter and is the complete, final, and exclusive embodiment of the parties’ agreement with regard to this subject matter. This Agreement is entered into without reliance on any promise or representation, written or oral, other than those expressly contained herein, and it supersedes any other such promises, warranties or representations (the “Prior Agreements”). You agree and acknowledge that you are not eligible for, and will not receive, any compensation, benefits, or severance pursuant to the Prior Agreements. You also agree and acknowledge that there are no circumstances as of the date of this Agreement that constitute, and nothing contemplated in this Agreement or otherwise shall be deemed for any purpose to be or to create, an involuntary termination without Cause or a Good Reason resignation right, including for purposes of the Prior Agreements, or any other severance or change in control plan, agreement or policy maintained by the Company or its affiliates. This Agreement cannot be modified or amended except in a writing signed by you and a duly authorized officer of the Company. Whenever possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Agreement is held to be invalid, illegal or unenforceable in any respect under any applicable law or rule in any jurisdiction, such invalidity, illegality or unenforceability will not affect any other provision or any other jurisdiction, but this Agreement will be reformed, construed and enforced in such jurisdiction to the extent possible in keeping with the intent of the parties. Any waiver of any breach of any provisions of this Agreement must be in writing to be effective, and it shall not thereby be deemed to have waived any preceding or succeeding breach of the same or any other provision of this Agreement. This Agreement is intended to bind and inure to the benefit of and be enforceable by you and the Company, and their respective successors, assigns, heirs, executors and administrators. The Company may freely assign this Agreement, without your prior written consent. You may not assign any of your duties hereunder and you may not assign any of your rights hereunder without the written consent of the Company. This Agreement shall become effective as of the Start Date and shall terminate upon your termination of employment with the Company. The obligations as forth under Sections 7, 8, 9, 10, 11, and 12 will survive the termination of this Agreement. All

questions concerning the construction, validity and interpretation of this Agreement will be governed by the laws of the State of California.

Accepted and agreed:

Best regards,

THE HONEST COMPANY, INC.

Nikolaos A. Vlahos Chief Executive Officer

Date:

8/31/2021 | 10:58 EDT

Exhibit A

Employee Confidential Information and Invention Assignment AgreementExhibit 10.3

  

   

  

  EMPLOYMENT AGREEMENT

   

  EMPLOYMENT AGREEMENT dated as of July 22, 2021, by and between ReWalk Robotics, Inc., a Delaware corporation (the "Company"), with offices at 200 Donald Lynch
    Boulevard, Marlboro, MA 01752 and Jeannine Lynch (the "Employee") of San Francisco, CA.

   

  WITNESSETH:

  

  

  WHEREAS the Company desires to enter into employment with the Employee for the period provided in this Agreement,
    and the Employee is willing to accept such employment with the Company on a full-time basis, all in accordance with the terms and conditions set forth below.

  

  

  NOW, THEREFORE, for and in consideration of the premise hereof and the mutual covenants contained herein, the
    parties hereto hereby covenant and agree as follows:

   

  1.          Employment. 

  

  

  (a)           The Company hereby agrees to employ the Employee, and the Employee hereby agrees to accept such employment with the Company, beginning on August 31, 2021 and continuing for the period set forth in Section 2 hereof, all upon
      the terms and conditions hereinafter set forth.

   

  (b)          The Employee affirms and represents that as of the commencement of her employment by the Company on August 31, 2021 she will be under no obligation to any former employer or other party which is in any way inconsistent with,
      or which imposes any restriction upon, the Employee's acceptance of employment hereunder with the Company, the employment of the Employee by the Company, or the Employee's undertakings under this Agreement.

  

  

  2.          Term of Employment. 

  

  

  (a)          Unless earlier terminated as provided in this Agreement, the term of the Employee's employment under this Agreement shall be for a period beginning on August 31, 2021 through August 31, 2022 (the "Initial Term").

   

  (b)           The term of the Employee's employment under this Agreement shall be automatically renewed for additional twelve month terms (the "Renewal Term") upon the expiration of the Initial Term or Additional Terms unless the Company
      or the Employee delivers to the other, at least ninety (90) days prior to the expiration of the Initial Term or Additional Terms, written notice specifying that the term of the Employee's employment will not be renewed at the end of the Initial or
      Additional Terms. If the contract is not renewed the severance terms of section 10(b) would take effect. The period from July__ , 2021 through July __, 2022 or, in the event that the Employee's employment hereunder is earlier terminated as provided herein
      or renewed as provided in this Section 2(b), such shorter or longer period, as the case may be, is hereinafter called the "Employment Term".

  

  

   

    

  
    
      

  

  
    3.          Duties. The Employee shall be employed as the Vice President of Market Access & Strategy and as an officer of the
        company, shall faithfully and competently perform such duties as inhere in such position and as are specified in the Bylaws of the Company and shall also
        perform and discharge such other executive employment duties and responsibilities as the CEO of the Company shall from time to time determine. The position shall report to the CEO. The Employee shall perform her duties principally at their home or
        executive offices of the Company, with such travel to such other locations from time to time as the CEO of the Company may reasonably prescribe and that is mutually agreed upon. Except as may otherwise be approved in advance by the CEO of the
        Company, and except during vacation periods and reasonable periods of absence due to sickness, personal injury or other disability or non-profit public service activities, the Employee shall devote her full time throughout the Employment Term to
        the services required of her hereunder; The Employee shall render her business services exclusively to the Company (which term includes any of its subsidiaries or affiliates).  During the Employment Term, the Employee shall use her best efforts,
        judgment and energy to improve and advance the business and interests of the Company in a manner consistent with the duties of her position. Notwithstanding the foregoing, the Employee shall be entitled to participate as a director and investor in other business enterprises and to engage in activities related thereto so long as such participation and activities do not (i) involve a substantial amount of
        the Employee's time, (ii) impair the Employee's ability to perform her duties under this Agreement or (iii) violate the provisions of Section 12 of this Agreement.

  

   

  4.          Salary. As compensation for the complete and satisfactory performance by the Employee of the services to be performed by the
      Employee hereunder during the Employment Term, the Company shall pay the Employee a base salary at the annual rate of Three Hundred-Twenty-Thousand Dollars ($320,000.00) (said amount, together with any increases thereto as may be determined from time
      to time by the Compensation Committee of the Company in its sole discretion, being hereinafter referred to as "Salary"). Any Salary payable hereunder shall be paid in regular intervals (in the United States twice per month) in accordance with the
      Company's payroll practices from time to time in effect. Employee shall additionally be eligible to participate in annual merit increases beginning January 1, 2022.

   

  5.          Bonus. The Employee will be eligible to participate in the Company's bonus plan, with eligibility for an annual bonus of up
      to thirty-five percent (35%) of the Employee's then-base salary, assuming Company and individual objectives are met (the "Bonus"). Bonus percentage will be subject to specific objectives and accomplishments as are mutually agreed upon by the Board of
      Directors and the Employee. Payment of such bonuses will be subject to the approval of the Compensation Committee of the Board of Directors. Performance that exceeds the agreed upon objectives will allow for payment beyond the 35% target.

   

  6.          Equity Compensation. Pursuant to and subject to the terms of a stock option plan of the Company (the "SOP"), the Employee
      will be granted RSU’s (Restricted Stock Units). The initial shares that have been approved by the compensation committee are 125,000 shares. The company will consider additional equity awards on an annual basis as per the compensation policy approved
      by the shareholders.

  

  

  7.          Other Benefits. During the Employment Term, the Employee shall:

   

  (i)          be eligible to participate (on terms at least as favorable as other executive employees) in employee fringe benefits and pension and/or profit sharing plans that may be provided by the Company for its executive employees in
      accordance with the provisions of any such plans, as the same may be in effect from time to time;

  

  

  (ii)          be entitled to fully paid CIGNA or equivalent medical and dental coverage under the Company’s health care policy for its executive employees and dependents in accordance with the provisions of such Company’s health care
      policy, as the same may be in effect from time to time;

   

    

  
    
      

  

  

  

  (iii)          be entitled to the number of paid vacation days in each calendar year determined by the Company from time to time for its executive officers, provided that such number of paid vacation days in each calendar year shall not be
      less than twenty (20) work days (four (4) calendar weeks); the Employee shall also be entitled to all paid holidays given by the Company to its senior executive officers;

  

  

  (iv)          be entitled to sick leave, sick pay and disability benefits in accordance with any Company policy that may be applicable to senior executive employees from time to time; and

  

  

  (v)          be entitled to reimbursement for all reasonable and necessary out-of-pocket business expenses incurred by the Employee in the performance of her duties hereunder in accordance with the Company's normal policies from time to time in effect.

  

  

  8.          Confidential Information. The Employee hereby covenants, agrees and acknowledges as follows:

   

  (a)          The Employee has and will have access to and will participate in the development of or be acquainted with confidential or proprietary information and trade secrets related to the business of the Company and any other present
      or future  subsidiaries or affiliates of the Company (collectively with the Company, the "Companies"), including but not limited to (i) inventions; designs; specifications; materials to be used in products and manufacturing processes; customer lists;
      claims histories, adjustments and settlements and related records and compilations of information; the identity, lists or descriptions of any new customers, referral sources or organizations; financial statements; cost reports or other financial
      information; contract proposals or bidding information; business plans; training and operations methods and manuals; personnel records; software programs; reports and correspondence; premium structures; and management systems, policies or procedures,
      including related forms and manuals; (ii) information pertaining to future developments such as future marketing or acquisition plans or ideas, and potential new business locations and (iii) all other tangible and intangible property, which are used
      in the business and operations of the Companies but not made public. The information and trade secrets relating to the business of the Companies described hereinabove in this paragraph (a) are hereinafter referred to collectively as the "Confidential Information", provided that the term Confidential Information shall not include any information (x) that is or becomes generally
      publicly available (other than as a result of violation of this Agreement by the Employee), (y) that the Employee receives on a non-confidential basis from a source (other than the Companies or their representatives) that is not known by her to be
      bound by an obligation of secrecy or confidentiality to any of the Companies or (z) that was in the possession of the Employee prior to disclosure by the Companies.

   

  (b)          The Employee shall not disclose, use or make known for her or another's benefit any Confidential information or use such Confidential information in any way except as is in the best interests of the Companies in the
      performance of the Employee's duties under this Agreement. The Employee may disclose Confidential Information when required by a third party and applicable law or judicial process, but only after providing immediate notice to the Company at any third
      party's request for such information, which notice shall include the Employee's intent with respect to such request.

   

    

  (c)          The Employee acknowledges and agrees that a remedy at law for any breach or threatened breach of the provisions of this Section 8 would be inadequate and, therefore, agrees that the Companies shall be entitled to injunctive
      relief in addition to any other available rights and remedies in case of any such breach or threatened breach; provided, however, that nothing
      contained herein shall be construed as prohibiting the Companies from pursuing any other rights and remedies available for any such breach or threatened breach.

   

  
    
      

  

  

  

  (d)          The Employee agrees that upon termination of her employment with the Company for any reason, the Employee shall forthwith return to the Company all Confidential Information in whatever form maintained (including, without
      limitation, computer discs and other electronic media).

   

  (e)          The obligations of the Employee under this Section 8 shall, except as otherwise provided herein, survive the termination of the Employment Term and the expiration or termination of this Agreement.

  

  

  (f)          Without limiting the generality of Section 13 hereof, the Employee hereby expressly agrees that the foregoing provisions of this Section 8 shall be binding upon the Employee's heirs, successors and legal representatives.

  

  

  9.          Termination.

   

  (a)          The Employee's employment hereunder shall be terminated upon the occurrence of any of the following:

   

    

                                                  (i)          death of the Employee;

   

                                                (ii)          the Employee's inability to perform her duties on account of disability
    or incapacity for a period of one hundred eighty (180) or more days, whether or not consecutive, within any period of twelve (12) consecutive months;

   

                                                (iii)          the Company giving written notice, at any time, to the Employee that the
    Employee's employment is being terminated "for cause" (as defined below); or

   

                                                (iv)          the Company giving written notice, at any time, to the Employee that the
    Employee's employment is being terminated other than pursuant to clause (i), (ii) or (iii) above.

   

  The following actions, failures and events by or affecting the Employee shall constitute "cause" for termination
    within the meaning of clause (iii) above: (A) an indictment for or conviction of the Employee of, or the entering of a plea of nolo contendere by the Employee with respect to, having committed a felony, (B) abuse of controlled substances or alcohol or
    acts of dishonesty or moral turpitude by the Employee that are detrimental to the Company, (C) acts or omissions by the Employee that the Employee knew were likely to damage the business of the Company, (D) negligence by the Employee in the performance
    of, or disregard by the Employee of, her material obligations under this Agreement or otherwise relating to her employment, which negligence or disregard continue un-remedied for a period of fifteen (15) days after written notice thereof to the
    Employee or (E) failure by the Employee to obey the reasonable and lawful orders and policies of the Board of Directors that are consistent with the provisions of this Agreement (provided that, in the case of an indictment described written notice of
    such proposed termination and a reasonable opportunity to discuss the matter with the CEO in clause (A) above, and in the case of clause (B), (C) or (E) above, the Employee shall have received of the Company, followed by a notice that the CEO of the
    Company adheres to its position.

   

  
    
      

  

  

  

  (b)          In the event that the Employee's employment is terminated pursuant to clause (iv) of Section 9(a) above, at any time during her employment, the Company shall pay to the Employee, as severance pay or liquidated damages or
      both, monthly payments at the rate per annum of her Salary and Bonus (and the replacement cost of her benefits as described in Section 7 above) at the time of such termination for a period from the date of such termination to the date which is six
      months after such termination.

   

  (c)          The employee shall be entitled to voluntary leave and receive severance as defined in Section 10 (b) if the company (i) moves the primary office outside the US, (ii) reduces her title or primary responsibilities, or moves
      her principal location of work.

  

  

  (d)          Notwithstanding anything to the contrary expressed or implied herein, except as required by applicable law and except as set forth in Section 9(b) above, the Company (and its affiliates) shall not be obligated to make any
      payments to the Employee or on her behalf of whatever kind or nature by reason of the Employee's cessation of employment (including, without limitation, by reason of termination of the Employee's employment by the Company's for "cause"), other than
      (i) such amounts, if any, of her Salary as shall have accrued and remained unpaid as of the date of said cessation and (ii) such other amounts, if any, which may be then otherwise payable to the Employee pursuant to the terms of the Company's
      benefits plans.

  

  

  (e)          No interest shall accrue on or be paid with respect to any portion of any payment hereunder.

   

  10.          Change of Control   In the event the company is subject to a merger or acquisition where the
      employee is terminated in less than 12 months after the closing of the transaction, vesting of 100% of the outstanding equity will be accelerated.

  

  

  11.          Non-Assignability.

   

  (a)          Neither this Agreement nor any right or interest hereunder shall be assignable by the Employee or her beneficiaries or legal representatives without the Company's prior written consent; provided, however, that nothing in this Section 10(a) shall preclude the Employee from designating a beneficiary to receive any benefit payable hereunder upon her death or
      incapacity.

  

  

  (b)          Except as required by Jaw, no right to receive payments under this Agreement shall be subject to anticipation, commutation, alienation, sale, assignment, encumbrance, charge, pledge, or hypothecation or to exclusion,
      attachment, levy or similar process or to assignment by operation of law, and any attempt, voluntary or involuntary, to effect any such action shall be null, void and of no effect.

   

  1 l.          Inventions. Any and all inventions, innovations or improvements ("inventions") made, developed or created by the Employee
      (whether at the request or suggestion of the Company or otherwise, whether alone or in conjunction with others, and whether during regular hours of work or otherwise) during the Employment Term which may be directly or indirectly useful in, or relate
      to, the business of the Company shall be promptly and fully disclosed by the Employee to the Board of Directors of the Company and shall be the Company's exclusive property as against the Employee, and the Employee shall promptly deliver to an
      appropriate representative of the Company as designated by the Board of Directors all papers, drawings, models, data and other material relating to any inventions made, developed or created by her as aforesaid. The Employee shall, at the request of
      the Company and without any payment therefor, execute any documents necessary or advisable in the opinion of the Company's counsel to direct issuance of patents or copyrights to the Company with respect to such inventions as are to be the Company's
      exclusive property as against the Employee or to vest in the Company title to such inventions as against the Employee. The expense of securing any such patent or copyright shall be borne by the Company.

   

  
    
      

  

  

  

                12.          Restrictive Covenants.

  

  

  (a)          Competition. During the Employment Term and, in the event the Employee's employment is terminated by the Company pursuant to clause (iii) or (iv) of Section 9(a) above, during the twelve (12) month period following such
      termination (provided that, in the case of a termination pursuant to clause (iv) of said Section 9(a), any payments required pursuant to Section 9(b)hereof are made in full and in a timely fashion)), the Employee will not directly or indirectly (as a
      director, officer, executive employee, manager, consultant., independent  contractor, advisor or otherwise) engage in competition with, or own any interest in, perform any services for, participate in or be connected with any business or organization
      which engages in competition with the Company within the meaning of Section 12(d), provided, however, that the provisions of this Section 12(a) shall
      not be deemed to prohibit the Employee's ownership of not more than two percent (2%) of the total shares of all classes of stock outstanding of any publicly held company in competition with the Company, or ownership, whether through direct or
      indirect stock holdings or otherwise, of one percent (1%) or more of any other business in competition with the Company. The geographic territory within which this Section 12(a) applies is all of the United States of America, Europe and Asia.

   

  (b)          Non-Solicitation. During the Employment Term and during the twelve (12) month period following the end of the Employment Term for any reason whatsoever (or, if later, the twelve ( 12) month period following termination of
      the Employee's employment with the Company), provided that payments, if any, required pursuant to Section 9(b)hereof are made in full and in a timely fashion, the Employee will not directly or indirectly induce or attempt to induce any employee of
      any of the Companies to leave the employ of the Company, or in any way interfere with the relationship between the Company and any employee thereof.

   

  (c)          Non-Interference. During the Employment Term and, in the event the Employee's employment is terminated by the Company
      pursuant to clause (iii) or (iv) of Section 9(a) above, during the twelve (12) month period following such termination (provided that, in the case of a termination pursuant to clause (iv) of said Section 9(a), any payments required pursuant to
      Section 9(b)hereof are made in full and in a timely fashion)), the Employee will not directly or indirectly hire, engage, send any work to, place orders with, or in any manner be associated with any supplier, contractor, subcontractor or other
      business relation of the Company if such action by her would have a material adverse effect on the business, assets or financial condition of the Company, or materially interfere with the relationship between any such person or entity and the
      Company.

  

  

  (d)          Certain Definitions. For purposes of this Section 10, a person or entity (including, without limitation, the Employee) shall
      be deemed to be a competitor of the Company, or a person or entity (including, without limitation, the Employee) shall be deemed to be engaging in competition with the Company, if such person or entity is engaged in a business involving robotic
      technologies designed to allow mobility of paralyzed or limited mobility patients.

  

  

  (e)          Certain Representations of the Employee. In connection with the foregoing provisions of this Section 12, the Employee represents that her experience, capabilities and circumstances are such that such provisions will not prevent her from earning a
      livelihood. The Employee further agrees that the limitations set forth in this Section 12 (including, without limitation, time and territorial limitations) are reasonable and properly required for the adequate protection of the current and future
      businesses of the Companies. It is understood and agreed that the covenants made by the Employee in this Section 12 (and. in Section 8shereof) shall survive the expiration or termination of this Agreement.

   

    

  
    
      

  

   

  

  

  (f)          Injunctive Relief. The Employee acknowledges and agrees that a remedy at law for any breach or threatened breach of the
      provisions of Section 12hereof would be inadequate and, therefore, agrees that the Company shall be entitled to injunctive relief in addition to any other available rights and remedies in cases of any such breach or threatened breach; provided, however, that nothing contained herein shall be construed as prohibiting the Company from pursuing any other rights and remedies available for
      any such breach or threatened breach.

   

                13.          Binding Effect. Without limiting or diminishing the effect of Section 8 or Section
    12hereof, this Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors, legal representatives and assigns.

   

                14.          Notices. All notices which are required or may be given pursuant to the terms of this
    Agreement shall be in writing and shall be sufficient in all respects if given in writing and (i) delivered personally, (ii) mailed by certified or registered mail, return receipt requested and postage prepaid, (iii) sent via a nationally recognized
    overnight courier or (iv) sent via facsimile confirmed in writing to the recipient, if to the Company at the Company's principal place of business, and if to the Employee, at her home address most recently filed with the Company, or to such other
    address or addresses as either party shall have designated in writing to the other party hereto, provided, however, that any notice sent by certified or registered mail shall be deemed delivered on the date of delivery as evidenced by the return
    receipt.

  

  

                 15.          Law Governing. This Agreement shall be governed by and construed in accordance with
    the laws of the Commonwealth of Massachusetts.

  

  

  16.          Severability. The Employee agrees that in the event that any court of
      competent jurisdiction shall finally hold that any provision of Section 8 or 12shereof is void or constitutes an unreasonable restriction against the Employee, the provisions of such Section 8 or 12 shall not be rendered void but shall apply with
      respect to such extent as such court may judicially determine constitutes a reasonable restriction under the circumstances.  If any part of this Agreement
      other than Section 8 or 12 is held by a court of competent jurisdiction to be invalid, illegible or incapable of being enforced in whole or in part by reason of any rule of law or public policy, such part shall be deemed to be severed from the
      remainder of this Agreement for the purpose only of the particular legal proceedings in question and all other covenants and provisions of this Agreement shall in every other respect continue in full force and effect and no covenant or provision
      shall be deemed dependent upon any other covenant or provision.

  

  

  17.          Waiver. Failure to insist upon strict compliance with any of the terms, covenants or condition hereof shall not be deemed a
      waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times.

  

  

  18.          Entire Agreement; Modifications. This Agreement constitutes the entire and final expression of the agreement of the parties
      with respect to the subject matter hereof and supersedes all prior agreements, oral and written, between the parties hereto with respect to the subject matter hereof. This Agreement may be modified or amended only by an instrument in writing signed
      by both parties hereto.

   

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

  

  

  [SIGNATURE PAGE FOLLOWS]

   

  

  
    
      

  

   

  IN WITNESS WHEREOF, the Company and the Employee have duly executed and delivered this
    Agreement as of the day and year first above written.

  

  

  
    	
            
              /s/ Jeannine Lynch 

              

              Jeannine Lynch  

            

          	
            /s/ Larry Jasinski

            Larry Jasinski

            Chief Executive Officer

            ReWalk Robotics, Inc.

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