Document:

Independent Consulting Agreement

 Exhibit 10.1 
 INDEPENDENT CONSULTING AGREEMENT 
 This INDEPENDENT CONSULTING
AGREEMENT (the “Agreement”), is dated September 19, 2012, to be effective as of October 1, 2012 (the “Effective Date”), by and between, Thomas A. McGauley, CPA, (“Consultant”), and
GALECTIN THERAPEUTICS INC., a Nevada corporation, having its principal office at 4960 Peachtree Industrial Boulevard, Suite 240, Norcross, Georgia 30071 (the “Company”). 

RECITALS 
 WHEREAS, Consultant is currently engaged by Company as a Consultant; 
 WHEREAS,
Consultant and Company desire to continue their ongoing engagement of the Consultant with enhanced responsibilities as Acting Chief Financial Officer for a specific duration under written agreement; 

WHEREAS, the current engagement of the Consultant with the Company ends September 30, 2012. 

WHEREAS, in exchange for these services, the Company is expected to provide valuable consideration to Consultant in the form of the
payments contemplated herein. 
 NOW, THEREFORE, for good and valuable consideration, the receipt, adequacy and sufficiency of
which is hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 1.
Incorporation of Recitals. The recitals set forth above are incorporated by reference into this Agreement as if set forth fully and completely herein. 
 2. Effective Date. This Agreement shall become effective as of the Effective Date. 
 3. Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms shall have the following meanings in this Agreement: 

(a) “Affiliate” means any Person directly or indirectly controlling, controlled by or under common control with another
Person; a Person shall be deemed to control another Person if such Person possesses, directly or indirectly, the power to direct or cause the direction of the management and policies of such other Person, whether through ownership of voting
securities, by contract, or otherwise. 
 (b) “Cause” means the earliest to occur of the following events, as
determined by the Company in the reasonable exercise of its discretion: (i) Consultant’s willful misconduct; (ii) Consultant’s gross negligence; (iii) any breach or threatened breach of any of the representations, covenants
and warranties provided in Sections 8 through 10 below; or (iv) Consultant’s failure to perform its other duties and obligations hereunder, which failure is not cured to the reasonable satisfaction of the Company within thirty
(30) days after receipt of written notice describing Consultant’s alleged failure to perform. 
 (c)
“CEO” means the chief executive officer of the Company. 
 (d) “Company Affiliate” means any
Affiliate of the Company. 

  
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 (e) “Company Business” means the research and development of therapeutic
agents that are applicable in the treatment of fibrosis, cancer and related diseases and the discovery and development of carbohydrate based agents that are generally applicable to human disease. 

(f) “Competing Business” means any Person that, in whole or in part, is engaged in, or conducts, a business
substantially similar to the Company Business. 
 (g) “Confidential Information” means all oral and written
information concerning the business, finances or operations of the Company and any Company Affiliate, including, but not limited to, any information relating to financial statements, evaluations, products, projects, business, plans, programs,
plants, processes, manufacturing, marketing, research and development, know-how, technology, equipment and other assets, costs and customers (including, but not limited to, intellectual property, patents, and patents pending), subject only to the
following exceptions. It is understood that the following shall not constitute Confidential Information or Trade Secrets (as defined below): (i) information that is now in the public domain or subsequently enters the public domain other than as
the result of an unauthorized disclosure by Consultant or any of its representatives; (ii) information that was known by Consultant and was legitimately in its possession, without any obligation to keep such information confidential, prior to
receipt from the Company and/or any Company Affiliate; (iii) information that Consultant obtains from any third-party unaffiliated with the Company or any Company Affiliate having legitimate possession of such information and who is not under
any obligation to keep such information confidential; and/or (iv) information that Consultant independently acquires or develops without use of any information received from the Company or any Company Affiliate, and is wholly unrelated to the
business of the Company or any Company Affiliate. 
 (h) “Disability” means the determination by two
independent medical doctors (one selected by the Company’s health or disability insurer, and one selected by Consultant) that Consultant is unable to perform one or more of the essential functions contemplated in Section 4(b),
either with or without a reasonable accommodation, for a period of no less than six (6) months, either consecutive or non-consecutive, within any twelve (12) month period. Any refusal by Consultant to submit to a medical examination for
the purpose of evaluating Disability shall be deemed to constitute irrefutable evidence of a Disability. 
 (i) “Initial
Term” means the initial contract period established in Section 4 below, excluding any renewals of this Agreement. 
 (j) “Person” means an individual, corporation, limited liability company, partnership, association, trust or other entity or organization, including a government or political subdivision
or an agency or instrumentality thereof. 
 (k) “Restricted Period” means the Term (as defined below) and the
two (2) year period following the date on which this Agreement is terminated regardless of the reason for such termination; provided, however, that the Restricted Period shall be extended by the length of time, if any, during which any party is
in violation of any of its or his obligations under Sections 9 or 10 of this Agreement, as finally determined by the arbitration panel (or any court of competent jurisdiction in the event that arbitration is not compelled or any arbitration
award is reviewed by such court). 
 (l) “Term” means the total period during which this Agreement remains in
effect, including the Initial Term and any renewal terms. 
 (m) “Territory” means worldwide, which is the
geographic territory in which the Company shall engage in the Company Business. 

  
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 (n) “Trade Secrets” means any information not generally known about the
business of the Company or any Company Affiliate which is the subject of efforts that are reasonable under the circumstances to maintain its secrecy or confidentiality and from which the Company and/or any Company Affiliate derives economic value
from the fact that the information is not generally known to other Persons who can obtain economic value from its disclosure or use, and shall include any and all Confidential Information which may be protected as a trade secret under any applicable
law, even if not specifically designated as such. 
 (o) “Work Product” means any and all discoveries, designs,
Trade Secrets, Confidential Information, trademarks, data, materials, formulae, research, documentation, computer programs, communication systems, audio systems, system designs, inventions (whether or not patentable), copyrightable subject matter,
works of authorship, and any other kind of information or work product (including all worldwide rights therein under patent, copyright, trademark, trade secret, confidential information, moral rights, and other property rights), which Consultant has
made or conceived, or may make or conceive, either solely or jointly with others, while providing services to the Company or any Company Affiliate relating to company business, or with the use of the time, material or facilities of the Company or
any Company Affiliate, or relating to any actual or anticipated business of the Company or any Company Affiliate known to Consultant while providing services to the Company or any Company Affiliate, or suggested by or resulting from any task
assigned to Consultant or work performed by Consultant for or on behalf of the Company or any Company Affiliate, in each instance whether before or during the Term. 
 4. Terms of the Engagement. 
 (a) Term. The Initial Term
shall begin on the Effective Date and shall end on December 31, 2012, or such earlier date as this Agreement may be terminated in accordance with Section 5 below. The CEO, in his sole discretion, can extend the Agreement and
continue on a month-to-month basis until the Company provides thirty (30) days’ notice of its desire to end its engagement of Consultant, or such earlier date as this Agreement may be terminated in accordance with Section 5
below. 
 (b) Consultant’s Services. Consultant shall provide financial services and serve as the Acting Chief
Financial Officer to the Company in furtherance of the Company Business at the discretion of the CEO and in accordance with the business direction provided to Consultant by the CEO. Consultant agrees to devote the time and effort necessary to
perform the services requested but in any event, Consultant agrees to be available for at least ninety five (95) hours per month during the Term. Consultant shall carry out all such services in accordance with all applicable laws and
regulations governing the business of the Company, any Company Affiliate and Consultant. Consultant shall have discretion in the time, place and manner in which it provides services, giving due regard to the Company’s needs in growing the
Company Business. 
 (c) Consultant’s Fee. Unless otherwise agreed by the parties in writing, the Company shall pay
to Consultant a base fee of $14,250 per month, which is based on an estimated 95 (ninety five) hours of work per month. Hours greater than 95 (ninety five) during a month will be billed at the Consultant rate of $150 (one-hundred-fifty) per hour.

 (d) Reimbursement of Expenses. Company shall reimburse Consultant, in accordance with the Company’s policies and
practices in effect from time to time, for all out-of-pocket expenses reasonably incurred by Consultant in performance of Consultant’s duties under this Agreement. Consultant is responsible for proper substantiation and reporting of all such
expenses. Consultant shall consult a tax advisor of their own choosing to determine the taxability of any reimbursements made hereunder and the record keeping requirements therefor. 

  
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 (e) Independent Contractor Status. The relationship between Consultant and the
Company is an independent contractor relationship so that Consultant is not an employee of the Company. Subject to the provisions of Sections 9 and 10 below, the relationship between the Company and Consultant is non-exclusive, meaning that
Consultant may accept other engagements that do not conflict with its obligations hereunder. Consultant shall be responsible for all taxes arising from any compensation paid to it in connection with this Agreement, and no taxes shall be withheld
from the sums paid to Consultant under this Agreement. Consultant, when requested by the Company, shall provide all required documentation to the Company demonstrating that any and all required federal, state and/or local taxes have been paid by
Consultant. 
 (f) Benefits. Consultant shall not be eligible to participate in any employee pension, health, welfare or
other benefit plan or program sponsored by the Company. 
 5. Early Termination. Notwithstanding anything in
Section 4(a) to the contrary, this Agreement and the then current Term shall end upon the earliest to occur of any of the following events: (a) immediately upon Consultant’s death; (b) Consultant’s Disability, upon
thirty (30) days’ written notice provided by the Company of such Disability event; (c) Cause, immediately upon written notice delivered by the Company; or (d) Consultant’s resignation, upon ninety (90) days’
written notice to the Company. 
 6. Rights and Remedies Upon Termination. Upon the termination of this Agreement
for any reason, including, without limitation, upon the expiration of the then current Term following notice of non-renewal issued in accordance with Section 4(a) above, the parties shall not have any further rights, duties or
obligations under this Agreement other than those provided in Sections 9 and 10 below. Notwithstanding the foregoing, the termination of this Agreement may trigger certain rights and obligations of the parties under other agreements, which
rights and obligations shall not in any way be altered by this Agreement. Furthermore, the termination of this Agreement shall not in any way negate the parties’ respective rights, duties or obligations that accrued prior to the termination of
this Agreement. 
 7. Indemnification by Consultant. 

(a) Scope of Indemnification. Consultant shall indemnify and hold harmless the Company, any Company Affiliate and each of its and
their respective partners, members, managers, officers, and directors (collectively, the “Company Parties”) harmless with respect to any and all actual or alleged claims, losses, liabilities, damages, expenses (including, without
limitation, reasonable attorneys’ fees and expenses) incurred as a result of: (i) the classification of the relationship between Consultant and the Company as an independent contractor relationship; and (ii) any taxes due on payments
made to Consultant; This indemnification and hold harmless provision expressly shall apply to any taxes, penalties and interest allegedly due from any of the Company Parties as a result of any matter within the scope of this Section. 

(b) Claim for Indemnification. In the event that any of the Company Parties makes a claim for indemnification pursuant to
Section 7(a), the Company Parties shall provide Consultant with notice of the claim, in writing, specifying the nature of the claim and the extent of indemnification sought (to the extent then known by the Company Parties). The Company
Parties shall retain the right to engage counsel in the defense of any claim within the scope of the indemnification provision set forth in Section 7(a), and shall submit timely requests for payment to Consultant. Notwithstanding the
foregoing, Consultant may satisfy its indemnification obligations, either in whole or in part, by providing applicable insurance that covers any such claim asserted against the Company Parties. To the extent that any insurance is not adequate to
cover the full extent of the claim, Consultant shall remain responsible for all amounts owed above the limits of such insurance. 

  
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 8. Material Inducements. Consultant represents, warrants and acknowledges
that: (a) the covenants set forth in Sections 9, 10 and 11 are being provided as a material inducement for the Company’s willingness to enter into this Agreement; (b) he will be expending substantial time, money, effort and
other resources to develop the goodwill, clients, business sources and relationships of the Company, which has a legitimate interest in protecting these interests; (c) he shall be privy to certain Confidential Information and Trade Secrets of
the Company and Company Affiliates; (d) the nature and periods of the restrictions imposed by the covenants set forth in Sections 9 and 10 of this Agreement are fair, reasonable, and necessary to protect and preserve the goodwill,
Confidential Information, Trade Secrets and other legitimate business interests of the Company and Company Affiliates; and (e) the Company and Company Affiliates (as applicable) will sustain great and irreparable loss and damage if was in any
manner to breach any of the covenants set forth in Sections 9 and 10 of this Agreement. 
 9. Non-Competition and
Non-Solicitation Covenants Protecting the Company’s Interests. 
 (a) During the Restricted Period, Consultant
shall not, without the prior written consent of the CEO, engage in the Company Business on behalf of a Competing Business anywhere within the Territory, either directly or indirectly, alone or as a stockholder (other than as a holder of less than 5%
of the capital stock of any publicly-traded corporation), partner, officer, director, employee, consultant, independent contractor, agent or otherwise in or with any organization other than the Company. 

(b) During the Restricted Period, Consultant shall not, without the prior written consent of the CEO, on behalf of a Competing Business,
solicit, divert, appropriate, take away or do business with any customer or potential customer of the Company or any Company Affiliate (as applicable) with whom Consultant had contact in performing any services pursuant to this Agreement.

 (c) During the Restricted Period, Consultant shall not, without the prior written consent of the CEO, on behalf of a
Competing Business, hire, retain, solicit or encourage any officer, employee or consultant of the Company or any Company Affiliate (as applicable) to leave their employment or affiliation with the Company or any Company Affiliate (as applicable) to
become affiliated with a Competing Business. 
 10. Confidentiality and Company Property Covenants. 

(a) Non-Disclosure of Confidential Information and Trade Secrets. 

(i) Consultant covenants and agrees that all Confidential Information and Trade Secrets, and all physical embodiments thereof received
or developed by him or disclosed to him in connection with this Agreement is confidential and is and will remain the sole and exclusive property of the Company or Company Affiliate, as applicable. Consultant furthermore covenants and agrees that,
throughout the Restricted Period, he shall not use any Confidential Information or Trade Secrets of the Company or any Company Affiliate for any purpose other than for performing the obligations set forth in this Agreement; he will hold all
Confidential Information and Trade Secrets in trust and in the strictest confidence; and will not use, reproduce, distribute, disclose or otherwise disseminate the Confidential Information, Trade Secrets or any physical embodiments thereof except to
the extent necessary to perform the duties set forth in this Agreement, and in no event shall either of them take any action or fail to take the action necessary in order to prevent any Confidential Information or Trade Secret disclosed to or
developed by any 

  
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of them to lose its character or cease to qualify as Confidential Information or Trade Secrets. Notwithstanding anything contained herein to the contrary, this covenant shall not limit in any
manner the protections otherwise afforded to the Company or any Company Affiliate by any applicable law or regulation governing confidential and/or trade secret information. 
 (ii) Notwithstanding anything in Section 10(a)(i) to the contrary, the disclosure of Trade Secrets is prohibited for the life of Consultant, or until the Trade Secret information becomes
publicly available through no direct or indirect fault or act of Consultant. 
 (iii) In the event that Consultant is requested
or becomes legally compelled (by deposition, interrogatory, request for documents, subpoena, civil investigative demand or similar process) to disclose any Confidential Information or Trade Secrets, then such Person so requested or compelled shall
provide the Company or any Company Affiliate (as applicable) with prompt written notice of such request or requirement so that the Company or any Company Affiliate (as applicable) may seek a protective order or other appropriate remedy and/or waive
compliance with the terms of this Section 10. In the event that such protective order or other remedy is not obtained, or that the Company or any Company Affiliate (as applicable) waives compliance with the provisions of this
Section 10, then Consultant agrees to furnish only that portion of the Confidential Information or Trade Secrets that he is advised by counsel is legally required to be disclosed and to exercise reasonable efforts to obtain assurance
that confidential treatment will be accorded the Confidential Information and Trade Secrets. 
 (b) Return of Property.
Promptly upon demand by the CEO, but in no event later than the termination of this Agreement, Consultant agrees to immediately return to the Company or Company Affiliate (as applicable) all property, Confidential Information and Trade Secrets of
the Company and Company Affiliate (as applicable), regardless of whether in written or electronic form, including, but not limited to, all Work Product, writings, records, notes, files, data, memoranda, reports, price lists, devices, client lists,
drawings, plans, sketches, documents, equipment, apparatus, physical manifestations of programs and like items, and all copies thereof. In addition, Consultant agrees to destroy all copies of any analyses, notes, compilations, studies or other
documents that he prepared containing or reflecting any Confidential Information or Trade Secrets. 
 (c) Work Product.
All Work Product shall be the exclusive property of the Company or Company Affiliate (as applicable). If any of the Work Product may not, by operation of law or otherwise, be considered the exclusive property of the Company or Company Affiliate, or
if ownership of all right, title and interest to the legal rights therein shall not otherwise vest exclusively in the Company or Company Affiliate, then Consultant hereby assigns to the Company and Company Affiliates, without further consideration,
the ownership of all Work Product. The Company and Company Affiliates shall have the right to obtain and hold in its and their own name copyrights, patents, registrations, and any other protection available in the Work Product. Consultant will
promptly disclose any Work Product to the Company and Company Affiliate, through the CEO. Consultant agrees to perform, during or after the Term of this Agreement and without further consideration, such further acts as may be necessary or desirable
to transfer, perfect and defend the ownership of the Work Product as requested by the Company or Company Affiliate. 
 (d)
License. To the extent that any preexisting materials are contained in the materials Consultant delivers to the Company or the Company’s customers, and such preexisting materials are not Work Product, then Consultant hereby grants to the
Company or Company Affiliate (as applicable) an irrevocable, exclusive, worldwide, royalty-free license to: (i) use and distribute (internally and externally) copies of, and prepare derivative works based upon, such preexisting materials and
derivative works thereof, and (ii) authorize others to do any of the foregoing. Consultant shall notify the Company in writing of any and all preexisting materials of which Consultant has knowledge, and which are delivered to the Company by
Consultant. Consultant acknowledges and agrees that the Company and Company Affiliates do not wish to 

  
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incorporate any unlicensed or unauthorized materials into their products or technology. Therefore, Consultant agrees that he will not knowingly disclose to, use in performing services under this
Agreement or cause the Company or any Company Affiliate to use any information or material which is confidential to any third party unless the Company or Company Affiliate has a written agreement with such third party or otherwise has the right to
receive and use such information. Consultant will not knowingly incorporate into Consultant’s work any material which is the subject of the copyrights, patents or proprietary rights of any third party unless the Company or Company Affiliate has
a written agreement with such third party or otherwise has the right to receive and use such information. 
 11.
Remedies. Consultant acknowledges and agrees that the Company and Company Affiliates (as applicable) will suffer irreparable loss and damage if Consultant should breach or violate any of the covenants and agreements contained in
Sections 9 and/or 10 of this Agreement. Consultant furthermore acknowledge and agree that, in addition to any other remedies available, the Company and Company Affiliates (as applicable) shall be entitled to injunctive relief to prevent a
breach or threatened breach of any of the covenants or agreements contained in Sections 9 and/or 10 of this Agreement without the necessity of proving actual damages or being required to post a bond or other form of security. In the event
that the Company or any Company Affiliate seeks enforcement of any of the covenants set forth in Sections 9 and/or 10 of this Agreement and secures any form of relief, whether interim or otherwise, then the Company and Company Affiliates (as
applicable) will be entitled to recover from Consultant all reasonable attorneys’ fees and expenses incurred in the pursuit of such relief, in addition to all other damages and remedies otherwise available to the Company and Company Affiliates.

 12. Reformation. If at any time the covenants set forth in Sections 9 and/or 10 of this Agreement shall
be determined to be invalid or unenforceable, by reason of being vague, overbroad or unreasonable as to area, duration or scope of activity, then Consultant agrees that such covenants shall be modified and narrowed to the narrowest extent possible
to protect the legitimate business interests of the Company and Company Affiliates as described in this Agreement, and without negating or impairing all of the other covenants set forth in this Agreement. 

13. Governing Law. This Agreement shall be governed by and construed in accordance with the internal laws (and not the law
of conflicts) of the State of Georgia and the federal laws of the United States applicable therein. 
 14. Dispute
Resolution. 
 (a) Except with respect to disputes, controversies or claims as to which a remedy sought is injunctive
relief, if any dispute, controversy or claim arises out of or relates to this Agreement and the transactions contemplated hereby, the parties shall first attempt, for a period of thirty (30) days from the date on which a party provides another
party with notice of such dispute, to resolve such dispute amicably through negotiation among designated executives of each party or by mediation. In the event that a dispute cannot be resolved within such thirty (30) day period or involves a
remedy of injunctive relief, then such dispute shall be finally settled by arbitration in accordance with Title 9 of the United States Code (the “United States Arbitration Act”) and the Commercial Arbitration Rules, all as amended
from time to time (the “Rules”) of the American Arbitration Association (“AAA”) and the provisions of this Section; provided, however, that the provisions of this Section shall prevail in the event of any conflict
with such Rules. 
 (b) Unless otherwise agreed by all of the parties to the dispute, the parties agree that they shall use
their best efforts to cause the matter to be presented to a panel of three arbitrators (at least one of whom shall have at least ten years of industry experience relating to the subject matter of the dispute) within thirty (30) days after the
establishment of such panel. Such panel shall consist of one 

  
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arbitrator selected by Consultant, one arbitrator selected by the Company, and a third arbitrator selected by the two arbitrators so selected, who shall act as chairman of the panel; provided,
that each arbitrator shall be independent. Any arbitration shall be conducted in the regional office of the American Arbitration Association for the State of Georgia. 
 (c) The arbitration panel shall apply the law of the State of Georgia as to both substantive and procedural questions, but excepting any rule that would require the application of the law of a different
jurisdiction and further excepting any rule that would result in judicial failure to enforce this arbitration provision or any portion thereof. 
 (d) The decision of a majority of the arbitration panel with respect to the matters referred to them pursuant hereto shall be final and binding upon the parties, subject to any rights of appeal under the
Rules, and confirmation and enforcement thereof may be rendered thereon by any court having jurisdiction upon application of any Person who is a party to the arbitration proceeding. The arbitration panel shall set forth the grounds for its decision
in the award. 
 (e) In addition to the provisions set forth in Section 11 of this Agreement, the costs and expenses
incurred in the course of such arbitration, including reasonable attorneys’ fees, shall be borne by the party or parties against whose favor the decisions and conclusions of the arbitration panel are rendered; provided, however, that if the
arbitration panel determines that its decisions are not rendered wholly against the favor of one party or parties or the other, the arbitration panel shall be authorized to apportion such costs and expenses in the manner that it deems fair and just
in light of the merits of the dispute and its resolution. 
 15. Notices. All notices, requests, demands and other
communications required or permitted hereunder shall be in writing and shall be deemed to have been duly given when actually received if such notice shall have been personally delivered, two business days after delivery when delivered by a
recognized national courier service providing written or facsimile receipt or acknowledgement of delivery, five business days after mailing with postage prepaid by certified or registered mail with return receipt requested, or one business day after
receipt of confirmation of a facsimile transmission, to the address of each party listed above 
 16. Capacity to
Execute. Each of the parties represents and warrants that he or it is legally viable and competent to enter into this Agreement, is relying on independent judgment and the advice of legal counsel and has not been influenced, pressured, or
coerced to any extent whatsoever in making this Agreement by any representations or statements made by any party, and/or any Person or Persons representing any party, and that the individuals executing this Agreement on his or its behalf are
authorized to do so. 
 17. Assignment. This Agreement is not assignable or delegable, in whole or in part, by
Consultant without the prior written consent of the CEO. The rights and obligations of the Company under this Agreement shall inure to the benefit of, and shall be binding upon, the successors and assigns of the Company. Furthermore, the Company
shall have the right to assign this Agreement to its successors and assigns, and all covenants herein shall inure to the benefit of, and be enforceable by, said successors and assigns. 

18. Waiver. The waiver by one party of a breach of any provision of this Agreement by the other party shall not operate or
be construed as a waiver of any subsequent breach of the same or any other provision by the other party. The failure of a party at any time to require performance of any provision hereof shall in no manner affect its right at a later time to enforce
the same. 

  
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 19. Entire Agreement. This Agreement supersedes all other agreements, oral or
written, between the parties with respect to the subject matter hereof, and contains all of the agreements and understandings between the parties with respect to the subject matter hereof. There are no promises, representations, inducements or
statements between the parties other than those that are expressly contained herein. No parol evidence or other evidence may be admitted to alter, modify or construe this Agreement, which may be changed only by a writing signed by the parties
hereto. Furthermore, any waiver or modification of any term of this Agreement shall be effective only if it is set forth in writing and signed by all parties hereto. 
 20. Counterparts. This Agreement may be executed in any number of counterparts, all of which together shall constitute a single instrument, with the same effect as if the signatures thereto
were in the same instrument. Signature pages exchanged by telefax or other electronic means shall be fully binding. 

[Signatures on following page] 

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

	
	CONSULTANT:
	
	/s/ Thomas A. McGauley
	Thomas A. McGauley
	
	COMPANY:
	
	Galectin Therapeutics Inc.
	
	By: /s/ Peter G. Traber
	Name: Peter G. Traber, MD
	Title: President, CEO, and CMOEX-10.20

 Exhibit 10.20 
 EMPLOYMENT AGREEMENT 
 THIS EMPLOYMENT AGREEMENT (the
“Agreement”) is effective as of April 9, 2012 (the “Effective Date”), by and between Remy International, Inc., a Delaware corporation (the “Company”), and Mark McFeely (the “Employee”). In consideration
of the mutual covenants and agreements set forth herein, the parties agree as follows: 
 1.
     Purpose. The purpose of this Agreement is to recognize the Employee’s significant contributions to the overall financial performance and success of the Company and to provide a single, integrated document
which shall provide the basis for the Employee’s continued employment by the Company. 
 2.
     Employment and Duties. Subject to the terms and conditions of this Agreement, the Company agrees to continue to employ the Employee to serve in an executive capacity as Senior Vice-President and Chief Operations
Officer. The Employee accepts such continued employment and agrees to undertake and discharge the duties, functions and responsibilities commensurate with the aforesaid position and such other duties, functions and responsibilities as may be
prescribed from time to time by the Company’s Chief Executive Officer (“CEO”). The Employee shall devote his full business time, attention and effort to the performance of his duties hereunder and, except as described below, shall not
engage in any business, profession or occupation, other than personal, personal investment, charitable, or civic activities or other matters that do not conflict with the Employee’s duties. The Employee shall report to the President and CEO of
the Company. 
 3.      Term. The term of this Agreement shall commence on the
Effective Date and shall continue until December 31, 2013 or if earlier pursuant to Section 8 (including any extensions as provided in this Section 3, the “Employment Term”). Notwithstanding any termination of the Employment
Term or the Employee’s employment, the Employee and the Company agree that Sections 8 through 28 hereof shall remain in effect until all parties’ obligations and benefits are satisfied thereunder. This Agreement shall continue to renew for
successive one-year terms upon expiration of the original Employment Term, and each extension thereof, unless either party gives prior written notice of its intent not to renew at least ninety (90) days before the end of the applicable
Employment Term. 
 4.      Salary. During the Employment Term, the Company
shall pay the Employee a base salary at an annual rate, before deducting all applicable withholdings, of no less than two hundred eighty thousand ($280,000) per year, payable at the time and in the manner dictated by the Company’s standard
payroll policies. Such minimum annual base salary may be periodically reviewed and increased (but not decreased without the Employee’s express written consent and except in connection with a broad based corporate officer salary decrease) at the
discretion of the Compensation Committee (the “Committee”) of the Board of Directors of the Company (the “Board’) to reflect, among other matters, cost of living increases and performance results (such annual base salary,
including any increases pursuant to this Section 4, the “Annual Base Salary”). 
 5.
     Other Compensation and Fringe Benefits. In addition to any executive bonus, pension, deferred compensation and long-term incentive plans which the Company or an affiliate of the Company may from time to time make
available to the Employee, the Employee shall be entitled to the following during the Employment Term: 

	 	(a)	 the standard Company benefits enjoyed by and provided by Company to senior executives, including an annual executive physical;

  

	 	(b)	 an annual incentive bonus opportunity under the Company’s Amended and Restated Annual Bonus Plan (“Annual Bonus Plan”) for each
calendar year included in the Employment Term, with such opportunity to be earned based upon attainment of performance objectives established by the Committee (“Annual Bonus”). The Employee shall be eligible for an annual target incentive
bonus of not less than 70% of his base salary under the Annual Bonus Plan, subject to the terms and conditions thereunder, including the attainment of objectives already established the Board. The Annual Bonus shall be paid no later than the
March 15 first following the calendar year to which the Annual Bonus relates. 

  

	 	(c)	 An Equity Grant valued at $500,000 for 2012. 

6.      Vacation. For and during each calendar year within the Employment Term, the
Employee shall be entitled to 3 weeks paid vacation periods consistent with the Employee’s position and in accordance with the Company’s standard policies. In addition, the Employee shall be entitled to such holidays consistent with the
Company’s standard. 
 7.      Expense Reimbursement. In addition to the
compensation and benefits provided herein, the Company shall, upon receipt of appropriate documentation, reimburse the Employee for his reasonable travel, lodging, entertainment, promotion and other ordinary and necessary business expenses to the
extent such reimbursement is permitted under the Company’s expense reimbursement policy. 
 8.
     Termination of Employment. The Company or the Employee may terminate the Employee’s employment at any time and for any reason in accordance with Subsection 8(a) below. The Employment Term shall be deemed to
have ended on the last day of the Employee’s employment. The Employment Term shall terminate automatically upon the Employee’s death. 
  

	 	(a)	 Notice of Termination. Any purported termination of the Employee’s employment (other than by reason of death) shall be communicated by
written Notice of Termination (as defined herein) from one party to the other in accordance with the notice provisions contained in Section 25. For purposes of this Agreement, a “Notice of Termination” shall mean a notice that
indicates the Date of Termination (as that term is defined in Subsection 8(b)) and, with respect to a termination due to Disability (as that term is defined in Subsection 8(e)), Cause (as that term is defined in Subsection 8(d)), or Good Reason (as
that term is defined in Subsection 8(f)), sets forth in reasonable detail the facts and circumstances that are alleged to provide a basis for such termination. A Notice of Termination from the Company shall specify whether the termination is with or
without Cause or due to the Employee’s Disability. A Notice of Termination from the Employee shall specify whether the termination is with or without Good Reason. 

  
 2 

	 	(b)	 Date of Termination. For purposes of this Agreement, “Date of Termination” shall mean the date specified in the Notice of
Termination (but in no event shall such date be earlier than the thirtieth (30th) day following the date the Notice of Termination is given) or the date of the Employee’s death. Notwithstanding the foregoing, in no event shall the Date of Termination occur until the
Employee experiences a “separation of service” within the meaning of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and notwithstanding anything contained herein to the contrary, the date on
which such separation from service takes place shall be the “Date of Termination,” and all references herein to a “termination of employment” (or words of similar meaning) shall mean a “separation of service” within the
meaning of Code Section 409A. 

  

	 	(c)	 No Waiver. The failure to set forth any fact or circumstance in a Notice of Termination, which fact or circumstance was not known to the
party giving the Notice of Termination when the notice was given, shall not constitute a waiver of the right to assert such fact or circumstance in an attempt to enforce any right under or provision of this Agreement. 

 

	 	(d)	 Cause. For purposes of this Agreement, a termination for “Cause” means (i) the Employee engages in gross misconduct or gross
negligence in the performance of the Employee’s material duties for the Company or any of its subsidiaries, (ii) the Employee embezzles assets of the Company or any of its subsidiaries, (iii) the Employee is convicted of or enters a
plea of guilty or nolo contendere to a felony or misdemeanor involving moral turpitude, (iv) the Employee’s breach of any restrictive covenant set forth in Section 8 of this Agreement, (v) the Employee’s willful and material
failure to follow the lawful and reasonable instructions of the CEO or the Board, or (vi) the Employee’s becoming barred or prohibited by the United States Securities and Exchange Commission or other regulatory body from holding his
position with the Company or any of its subsidiaries; provided, however, that in each such case (except with regard to subsection (iii) or (vi), is not cured within 30 days after receipt of notice. 

 

	 	(e)	 Disability. For purposes of this Agreement, a termination based upon “Disability” means a termination by the Company based upon the
Employee’s entitlement to long-term disability benefits under the Company’s long-term disability plan or policy, as the case may be, as in effect on the Date of Termination; provided, however, that if the Employee is not a participant in
the Company’s long-term disability plan or policy on the Date of Termination, he shall still be considered terminated based upon Disability if he would have been entitled to benefits under the Company’s long-term disability plan or policy
had he been a participant on his Date of Termination. 

  

	 	(f)	 Good Reason. For purposes of this Agreement, a termination for “Good Reason” means a termination by the Employee based upon the
occurrence (without The Employee’s express written consent) of any of the following: 

  
 3 

	 	(i)	 a material adverse change in the Employee’s position or title, or a material diminution in the Employee’s managerial authority, duties or
responsibilities or the conditions under which such duties or responsibilities are performed (e.g., a material reduction in the number or scope of department(s), functional group(s) or personnel over which the Employee has managerial authority);

  

	 	(ii)	 a material adverse change in the position to which the Employee reports (i.e., the CEO), or a material diminution in the managerial authority,
duties or responsibilities of the person in that position; 

  

	 	(iii)	 a material diminution in the Employee’s Annual Base Salary or Annual Bonus opportunity except in connection with a broad based corporate
officer salary decrease; or 

  

	 	(iv)	 notice of non-renewal of this Agreement by the Company pursuant to Section 3 hereof or a material breach by Company of any of its obligations
under this Agreement. 

  

	 	(g)	 Notwithstanding the foregoing, the Employee being placed on a paid leave for up to sixty (60) days pending a determination of whether there is
a basis to terminate the Employee for Cause shall not constitute Good Reason. The Employee’s continued employment shall not constitute consent to, or a waiver of rights with respect to, any act or failure to act constituting Good Reason
hereunder; provided, however, that no such event described above shall constitute Good Reason unless: (i) the Employee gives Notice of Termination to Company specifying the condition or event relied upon for such termination within ninety
(90) days of the initial existence of such event; and (ii) Company fails to cure the condition or event constituting Good Reason within thirty (30) days following receipt of the Employee’s Notice of Termination.

 9.      Obligations of the Company Upon Termination.

  

	 	(a)	 Termination by the Company for a Reason Other than Cause, Death or Disability and Termination by the Employee for Good Reason. If the
Employee’s employment is terminated by the Company for any reason other than Cause, Death or Disability; or by the Employee for Good Reason: 

  

	 	(i)	 the Company shall pay the Employee the following (collectively, the “Accrued Obligations”): (A) within five (5) business days
after the Date of Termination, any earned but unpaid Annual Base Salary; (B) within a reasonable time following submission of all applicable documentation, any expense reimbursement payments owed to the Employee for expenses incurred prior to
the Date of Termination; and (C) any other accrued and vested payments under any employee benefit plan, to be paid in accordance with the terms of such employee benefit plan, including the Omnibus Plan. 

  
 4 

	 	(ii)	 the Company shall pay the Employee no later than March 15th of the calendar year following the year in which the Date of Termination occurs, a prorated Annual Bonus based upon
the actual Annual Bonus that would have been earned by the Employee for the year in which the Date of Termination occurs (based upon the target Annual Bonus opportunity in the year in which the Date of Termination occurred, or the prior year if no
target Annual Bonus opportunity has yet been determined, and the actual satisfaction of the applicable performance measures, but ignoring any requirement under the Annual Bonus Plan that the Employee must be employed on the payment date) multiplied
by the percentage of the calendar year completed before the Date of Termination; 

  

	 	(iii)	 the Company shall pay the Employee, no later than the sixtieth (60th) calendar day after the Date of Termination, a lump-sum payment equal to 100% of the sum of: (A) the
Employee’s Annual Base Salary in effect immediately prior to the Date of Termination (disregarding any reduction in Annual Base Salary to which the Employee did not expressly consent in writing); and (B) the higher of (i) the highest
of the Annual Bonus paid in the three calendar years prior to the Date of Termination, or (ii) the target Annual Bonus for the year of termination; and 

 

	 	(iv)	 as long as the Employee pays the full monthly premiums for COBRA coverage, the Company shall provide the Employee and, as applicable, the
Employee’s eligible dependents with continued medical and dental coverage, on the same basis as provided to the Company’s active executives and their dependents until the earlier of: (i) two (2) years after the Date of
Termination; or (ii) the date the Employee is first eligible for medical and dental coverage (without pre-existing condition limitations) with a subsequent employer. In addition, within sixty-five (65) days after the Date of Termination,
the Company shall pay the Employee a lump sum cash payment equal to twenty-four (24) months of medical and dental COBRA premiums based on the level of coverage in effect for the Employee (e.g., employee only or family coverage) on the Date of
Termination. 

  

	 	(b)	 Termination by the Company for Cause and by the Employee without Good Reason. If the Employee’s employment is terminated (i) by the
Company for Cause or (ii) by the Employee without Good Reason, the Company’s only obligation under this Agreement shall be payment of any Accrued Obligations. 

 

	 	(c)	 Termination due to Death. If the Employee’s employment is terminated due to death, the Company shall pay to the Employee’s estate
or personal representative, within sixty-five (65) days after the Date of Termination any Accrued Obligations. In addition, the Company shall pay to the Employee’s estate or personal representative: (i) a prorated Annual Bonus, for
the year of termination, determined in accordance with the terms of the Annual Bonus Plan, but not less than the amount equal to the target Annual Bonus for the year of termination,

  
 5 

	 	 
multiplied by the percentage of the calendar year completed before the Date of Termination such payment to be made no later than 2 1/2 months after the end of the year in which the death occurs and at
the time when bonus payments are paid to other senior executives in accordance with the Company’s normal payroll practices, and (ii) the Long Term Bonus and Restricted Stock Awards or other vested payments under any employee benefit plan
which are payable in accordance with such plans. 

  

	 	(d)	 Termination Due to the Employee’s Disability. The Company may terminate the Employee’s employment hereunder due to Disability in
accordance with this Section. Notwithstanding the foregoing, if, in the good faith determination of the Board, the Employee is suffering from a mental or physical disease or disability that impacts the performance of his duties in any material
respect, the Company may suspend the Employee for a period of up to one hundred eighty (180) days during the Employment Term (provided that such suspension shall not constitute Good Reason under Section 8(f) and provided further that
during such suspension, the Employee shall (i) continue to receive his Annual Base Salary in accordance with Section 4 and (ii) be eligible to receive benefits he may be entitled to under the Company’s short-term disability plan,
if any). If the Board does not re-instate the Employee to employment (under the terms and conditions of this Agreement) by the end of such one hundred eighty (180) day period or at any time prior to the end of such period, in the Board’s
sole discretion, the Company may (i) terminate the Employee’s employment without Cause (as provided under Section 8(d)) if the Employee’s condition does not meet the definition of Disability (as provided under this Section), or
(ii) for Disability if the Employee’s condition does meet the definition of Disability at the time of termination. In such latter event, the Employee or his legal representative, as the case may be, shall be entitled to: (i) any
Annual Base Salary earned but not paid as of the date of the Employee’s termination due to Disability, (ii) a pro-rata payment, for the year of termination determined according to the terms of the Annual Bonus Plan, but not less than the
amount equal to the target Annual Bonus multiplied by a fraction, the numerator of which is the number of days transpired in the calendar year up to and including the date on which the Employee is terminated by the Company due to Disability, and the
denominator of which is 365, such payment shall be made no later than 2 1/2 months after the end of the year in which the termination due to disability occurs and at the time when bonus payments are paid to other senior executives in accordance with the Company’s normal
payroll procedures, and (iii) the Long Term Bonus and Restricted Stock Awards or other vested payments under any employee benefit plan which are payable in accordance with such plans. 

 

	 	(e)	 Six-Month Delay. To the extent the Employee is a “specified employee,” as defined in Code Section 409A(a)(2)(B)(i) and the
regulations and other guidance promulgated thereunder and any elections made by the Company in accordance therewith, notwithstanding the timing of payment provided in any other Section of this Agreement, no payment, distribution or benefit under
this Agreement that constitutes a distribution of deferred compensation (within the meaning of Treasury Regulation Section 1.409A-1(b)) upon separation from service (within

  
 6 

	 	 
the meaning of Treasury Regulation Section 1.409A-1(h)), after taking into account all available exemptions, that would otherwise be payable, distributable or settled during the six
(6) month period after separation from service, will be made during such six (6) month period, and any such payment, distribution or benefit will instead be paid on the first business day after such six (6) month period, provided,
however, that if the Employee dies following the Date of Termination and prior to the payment, distribution, settlement or provision of any payments, distributions or benefits delayed on account of Code Section 409A, such payments,
distributions or benefits shall be paid or provided to the personal representative of the Employee’s estate within thirty (30) days after the date of the Employee’s death. 

10.    Excise Taxes. If any payments or benefits paid or provided or to be paid or provided to the
Employee or for the Employee’s benefit pursuant to the terms of this Agreement or otherwise in connection with, or arising out of, his employment with the Company or its subsidiaries or the termination thereof (a “Payment” and,
collectively, the “Payments”) would be subject to the excise tax imposed by Code Section 4999 (the “Excise Tax”), then, the Employee may elect for such Payments to be reduced to one dollar less than the amount that would
constitute a “parachute payment” under Code Section 280G (the “Scaled Back Amount”). Any such election must be in writing and delivered to the Company within thirty (30) days after the Date of Termination. If the
Employee does not elect to have Payments reduced to the Scaled Back Amount, the Employee shall be responsible for payment of any Excise Tax resulting from the Payments and the Employee shall not be entitled to a gross-up payment under this Agreement
or any other agreement for such Excise Tax. If the Payments are to be reduced, they shall be reduced in the following order of priority: (i) first from cash compensation, (ii) next from equity compensation, then (iii) pro-rata among
all remaining Payments and benefits. To the extent there is a question as to which Payments within any of the foregoing categories are to be reduced first, the Payments that will produce the greatest present value reduction in the Payments with the
least reduction in economic value provided to the Employee shall be reduced first. Notwithstanding the order of priority of reduction set forth above, the Employee may include in the Employee’s election for a Scaled Back Amount a change to the
order of such Payment reduction. The Company shall follow such revised reduction order, if and only if, the Company, in its sole discretion, determines such change does not violate the provisions of Code Section 409A. 

11.    Non-Delegation of the Employee’s Rights. The obligations, rights and benefits of the
Employee hereunder are personal and may not be delegated, assigned or transferred in any manner whatsoever, nor are such obligations, rights or benefits subject to involuntary alienation, assignment or transfer. 

12.    Confidential Information. The Employee acknowledges that he will occupy a position of trust
and confidence and will have access to and learn substantial information about the Company and its affiliates and their operations that is confidential or not generally known in the industry including, without limitation, information that relates to
purchasing, sales, customers, marketing, and the financial positions and financing arrangements of the Company and its affiliates. The Employee agrees that all such information is proprietary or confidential, or constitutes trade secrets and is the
sole property of the Company and/or its affiliates, as the case 

  
 7 

 
may be. The Employee will keep confidential, and will not reproduce, copy or disclose to any other person or firm, any such information or any documents or information relating to the
Company’s or its affiliates’ methods, processes, customers, accounts, analyses, systems, charts, programs, procedures, correspondence or records, or any other documents used or owned by the Company or any of its affiliates, nor will the
Employee advise, discuss with or in any way assist any other person, firm or entity in obtaining or learning about any of the items described in this Section 12. Accordingly, the Employee agrees that during the Employment Term and at all times
thereafter he will not disclose, or permit or encourage anyone else to disclose, any such information, nor will he utilize any such information, either alone or with others, outside the scope of his duties and responsibilities with the Company and
its affiliates. 
 13.    Non-Competition. 

 

	 	(a)	 During Employment Term. The Employee agrees that, during the Employment Term, he will devote such business time, attention and energies
reasonably necessary to the diligent and faithful performance of the services to the Company and its affiliates, and he will not engage in any way whatsoever, directly or indirectly, in any business that is a direct competitor with the
Company’s or its affiliates’ principal business, nor solicit customers, suppliers or employees of the Company or affiliates on behalf of, or in any other manner work for or assist any business which is a direct competitor with the
Company’s or its affiliates’ principal business. In addition, during the Employment Term, the Employee will undertake no planning for or organization of any business activity competitive with the work he performs as an employee of the
Company, and the Employee will not combine or conspire with any other employee of the Company or any other person for the purpose of organizing any such competitive business activity. 

 

	 	(b)	 After Employment Term. The parties acknowledge that the Employee will acquire substantial knowledge and information concerning the business
of the Company and its affiliates as a result of his employment. The parties further acknowledge that the scope of business in which the Company and its affiliates are engaged as of the Effective Date is national and very competitive and one in
which few companies can successfully compete. Competition by the Employee in that business after the Employment Term would severely injure the Company and its affiliates. Accordingly, for a period of one (1) year after the Employee’s
employment terminates for any reason whatsoever, except as otherwise stated herein below, the Employee agrees: (i) not to become an employee, consultant, advisor, principal, partner or substantial shareholder of any firm or business that
directly competes with the Company or its affiliates in their principal products and markets; and (ii) on behalf of any such competitive firm or business, not to solicit any person or business that was at the time of such termination and
remains a customer or prospective customer, a supplier or prospective supplier, or an employee of the Company or an affiliate. Notwithstanding any of the foregoing provisions to the contrary, the Employee shall not be subject to the restrictions set
forth in this Subsection 13(b) if the Employee’s employment is terminated by the Company without Cause. 

  
 8 

 14.    Return of Company Documents. Upon termination
of the Employment Term, the Employee shall return immediately to the Company all records and documents of or pertaining to the Company or its affiliates and shall not make or retain any copy or extract of any such record or document, or any other
property of the Company or its affiliates. 
 15.    Improvements and Inventions. Any and
all improvements or inventions that the Employee may make or participate in during the Employment Term, unless wholly unrelated to the business of the Company and its affiliates and not produced within the scope of the Employee’s employment
hereunder, shall be the sole and exclusive property of the Company. The Employee shall, whenever requested by the Company, execute and deliver any and all documents that the Company deems appropriate in order to apply for and obtain patents or
copyrights in improvements or inventions or in order to assign and/or convey to the Company the sole and exclusive right, title and interest in and to such improvements, inventions, patents, copyrights or applications. 

16.    Actions. The parties agree and acknowledge that the rights conveyed by this Agreement are of
a unique and special nature and that the Company will not have an adequate remedy at law in the event of a failure by the Employee to abide by its terms and conditions, nor will money damages adequately compensate for such injury. Therefore, it is
agreed between and hereby acknowledged by the parties that, in the event of a breach by the Employee of any of the obligations of this Agreement, the Company shall have the right, among other rights, to damages sustained thereby and to obtain an
injunction or decree of specific performance from any court of competent jurisdiction to restrain or compel the Employee to perform as agreed herein. Nothing herein shall in any way limit or exclude any other right granted by law or equity to the
Company. 
 17.    Release. Notwithstanding any provision herein to the contrary, the
Company may require that, prior to payment of any amount or provision of any benefit under Section 9 (other than due to the Employee’s death), the Employee shall have executed a complete release of the Company and its affiliates and
related parties in such form as is reasonably required by the Company, and any waiting periods contained in such release shall have expired; provided, however, that such release shall not apply to the Employee’s rights under the benefit plans
and programs of the Company and its affiliates, which rights shall be determined in accordance with the terms of such plans and programs. With respect to any release required to receive payments owed pursuant to Section 9, the Company must
provide the Employee with the form of release no later than seven (7) days after the Date of Termination and the release must be signed by the Employee and returned to the Company, unchanged, effective and irrevocable, no later than sixty
(60) days after the Date of Termination. 
 18.    No Mitigation. The Company agrees
that, if the Employee’s employment hereunder is terminated during the Employment Term, the Employee is not required to seek other employment or to attempt in any way to reduce any amounts payable to the Employee by the Company hereunder.
Further, the amount of any payment or benefit provided for hereunder (other than pursuant to Subsection 9(a)(v) hereof) shall not be reduced by any compensation earned by the Employee as the result of employment by another employer, by retirement
benefits or otherwise. 

  
 9 

 19.    Entire Agreement and Amendment. This Agreement
embodies the entire agreement and understanding of the parties hereto in respect of the subject matter of this Agreement supersedes and replaces all prior agreements, understandings and commitments with respect to such subject matter. This Agreement
may be amended only by a written document signed by both parties to this Agreement. 
 20.
   Governing Law. This Agreement shall be governed by, and construed in accordance with, the laws of the State of Indiana, excluding any conflicts or choice of law rule or principle that might otherwise refer construction or
interpretation of this Agreement to the substantive law of another jurisdiction. Any litigation pertaining to this Agreement shall be adjudicated in courts located in Indiana. 

21.    Successors. This Agreement may not be assigned by the Employee. In addition to any
obligations imposed by law upon any successor to the Company, the Company will require any successor (whether direct or indirect, by purchase, merger, consolidation or otherwise) to all or substantially all of the stock, business and/or assets of
the Company, to expressly assume and agree to perform this Agreement in the same manner and to the same extent that the Company would be required to perform it if no such succession had taken place. Failure of the Company to obtain such assumption
by a successor shall be a material breach of this Agreement. The Employee agrees and consents to any such assumption by a successor of the Company, as well as any assignment of this Agreement by the Company for that purpose. As used in this
Agreement, “Company” shall mean the Company as herein before defined as well as any such successor that expressly assumes this Agreement or otherwise becomes bound by all of its terms and provisions by operation of law. This Agreement
shall be binding upon and inure to the benefit of the parties and their permitted successors or assigns. 
 22.
   Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 

23.    Attorneys’ Fees. If any party finds it necessary to employ legal counsel or to bring an
action at law or other proceedings against the other party to interpret or enforce any of the terms hereof, the party prevailing in any such action or other proceeding shall be promptly paid by the other party its reasonable legal fees, court costs,
litigation expenses, all as determined by the court and not a jury, and such payment shall be made by the non-prevailing party no later than the end of the Employee’s tax year following the Employee’s tax year in which the payment amount
becomes known and payable; provided, however, that following the Employee’s termination of employment with the Company, if any party finds it necessary to employ legal counsel or to bring an action at law or other proceedings
against the other party to interpret or enforce any of the terms hereof, the Company shall pay (on an ongoing basis) to the Employee to the fullest extent permitted by law, all legal fees, court costs and litigation expenses reasonably incurred by
the Employee or others on his behalf (such amounts collectively referred to as the “Reimbursed Amounts”); provided, further, that the Employee shall reimburse the Company for the Reimbursed Amounts if it is determined that a majority of
the Employee’s claims or defenses were frivolous or without merit. Requests for payment of Reimbursed Amounts, together with all documents required by the Company to substantiate them, must be submitted to the Company no later than ninety
(90) days after the expense was incurred. The Reimbursed Amounts shall be 

  
 10 

 
paid by the Company within ninety (90) days after receiving the request and all substantiating documents requested from the Employee. The payment of Reimbursed Amounts during the
Employee’s tax year will not impact the Reimbursed Amounts for any other taxable year. The rights under this Section 23 shall survive the termination of employment and this Agreement until the expiration of the applicable statute of
limitations. 
 24.    Severability. If any Section, subsection or provision hereof is
found for any reason whatsoever to be invalid or inoperative, that section, subsection or provision shall be deemed severable and shall not affect the force and validity of any other provision of this Agreement. If any covenant herein is determined
by a court to be overly broad thereby making the covenant unenforceable, the parties agree and it is their desire that such court shall substitute a reasonable judicially enforceable limitation in place of the offensive part of the covenant and that
as so modified the covenant shall be as fully enforceable as if set forth herein by the parties themselves in the modified form. The covenants of the Employee in this Agreement shall each be construed as an agreement independent of any other
provision in this Agreement, and the existence of any claim or cause of action of the Employee against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants
in this Agreement. 
 25.    Notices. Any notice, request, or instruction to be given
hereunder shall be in writing and shall be deemed given when personally delivered or three (3) days after being sent by United States Certified Mail, postage prepaid, with Return Receipt Requested, to the parties at their respective addresses
set forth below: 
 To the Company: 

 

	 	    	 Chief Executive Officer 

	 	    	 Remy International, Inc. 

	 	    	 600 Corporation Drive 

	 	    	 Pendleton, Indiana 46064 

 To the Employee: 
  

	 	    	 Mark McFeely 

	 	    	 1416 Orlando Drive 

	 	    	 Arcadia, CA 91007 

 26.    Waiver of Breach. The waiver by any party of any provisions of this Agreement shall not operate or be construed as a waiver of any prior or subsequent breach by the other
party. 
 27.    Tax Withholding. The Company or an affiliate may deduct from all
compensation and benefits payable under this Agreement any taxes or withholdings the Company is required to deduct pursuant to state, federal or local laws. 
 28.    Code Section 409A. To the extent applicable, it is intended that this Agreement and any payment made hereunder shall comply with the requirements of Section 409A of
the Code, or an exemption or exclusion therefrom and any related regulations or other guidance promulgated with respect to such Section by the U.S. Department of the Treasury or the Internal 

  
 11 

 
Revenue Service (“Code Section 409A”), provided that for the avoidance of doubt, this provision shall not be construed to require a gross-up payment in respect of any taxes,
interest or penalties imposed on the Employee as a result of Code Section 409A. Any provision that would cause the Agreement or any payment hereof to fail to satisfy Code Section 409A shall have no force or effect until amended in the
least restrictive manner necessary to comply with Code Section 409A, which amendment may be retroactive to the extent permitted by Code Section 409A. Each payment under this Agreement shall be treated as a separate payment for purposes of
Code Section 409A. In no event may the Employee, directly or indirectly, designate the calendar year of any payment to be made under this Agreement. All reimbursements and in-kind benefits provided under this Agreement shall be made or provided
in accordance with the requirements of Code Section 409A, including, without limitation, that (i) in no event shall reimbursements by the Company under this Agreement be made later than the end of the calendar year next following the
calendar year in which the applicable fees and expenses were incurred; (ii) the amount of in-kind benefits that the Company is obligated to pay or provide in any given calendar year shall not affect the in-kind benefits that the Company is
obligated to pay or provide in any other calendar year; (iii) the Employee’s right to have the Company pay or provide such reimbursements and in-kind benefits may not be liquidated or exchanged for any other benefit; and (iv) in no
event shall the Company’s obligations to make such reimbursements or to provide such in-kind benefits apply later than the Employee’s remaining lifetime. The Employee acknowledges that he has been advised to consult with an attorney and
any other advisors of the Employee’s choice prior to executing this Agreement, and the Employee further acknowledges that, in entering into this Agreement, he has not relied upon any representation or statement made by any agent or
representative of Company or its affiliates that is not expressly set forth in this Agreement, including, without limitation, any representation with respect to the consequences or characterization (including for purpose of tax withholding and
reporting) of the payment of any compensation or benefits hereunder under Code Section 409A and any similar sections of state tax law. 
 IN WITNESS WHEREOF the parties have executed this Agreement to be effective as of the date first set forth above. 

 

			
	REMY INTERNATIONAL, INC.
		
	By:	 	/s/ Gerald T. Mills
	Its:	 	SVP HR
	
	EMPLOYEE NAME
		
	By:	 	/s/ Mark McFeely
	Mark McFeely

  
 12

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