Document:

EX-10.1

 Exhibit 10.1 
  

 
 PERSONAL AND CONFIDENTIAL 

August 3, 2016 
 Dear Andrew Last, Ph.D., 

It is my pleasure to extend an offer of employment to you on behalf of Intrexon Corporation (“Intrexon” or the “Company”) for the position
of Chief Operating Officer. In this position, you will report directly to Geno Germano, President; and your work site will be our South San Francisco location. In addition, you will have access to work from the downtown San Francisco office run by
Third Security. 
 As we have discussed, and contingent upon the satisfaction of the items described below, we expect your start date to be August 29,
2016. 
 In this position, your salary of $22,916.67 will be paid on a semi-monthly basis which calculates to $550,000.08 on an annualized basis. Please
note that this position is considered an exempt position as defined by the Fair Labor Standards Act, which means that you will not be eligible for overtime pay. 

In addition, as an executive officer, you will be eligible to participate in the Executive Incentive Compensation Plan pursuant to which you will be eligible
for an annual potential performance bonus. Please understand that the amount and eligibility of bonus is subject to: your being employed at the time the bonus is paid; your continued strong performance determined by management; and only paid at
the sole discretion of the Compensation Committee of Intrexon’s Board of Directors. 
 You will be eligible for a stock option grant of 600,000 shares
of Intrexon common stock, which will vest in increments of 25% per year, over a four-year period from the date of hire. Your option grant will have a strike price based on the closing price per share of common stock on your date of hire.
Additional terms of your stock option grant are included in the Intrexon Corporation 2013 Omnibus Incentive Plan Document and your individual stock option agreement, copies of which will be sent to you on the later of your first day of employment or
approval of your grant by the Board. 
 In this position, you will be eligible to participate in the Company’s employee benefits programs. These
programs include medical, dental, vision, and other benefits; a Summary of Benefits is attached for your reference. You will also be entitled to accrue Paid Time Off (PTO) at a rate of 8.34 hours per pay period, which equals 200 hours per
12-month period. Each of these benefits will be governed in accordance with Intrexon policies and/or the applicable Plan documents. 
 It should be
noted that Intrexon retains and reserves the right to alter, amend, and/or discontinue any of its benefit plans; to modify any of its policies, practices, or programs at its sole discretion and with or without advance notice. 

By signing this letter below, you acknowledge and agree that your employment with Intrexon is considered “at will”, meaning it is for an unspecified
period of time and that the employment relationship may be ended by you or by the Company at any time, with or without cause. 

 Page 2 

Andrew Last, Ph.D. 
 August 3, 2016 

 

 This offer and your continued employment with Intrexon are contingent, among other things, upon the
completion of a background screening being completed to the satisfaction of Intrexon, as determined at the Company’s sole discretion. This offer of employment and your hiring are also contingent upon your submitting original and appropriate
documents to verify your identity and your employment eligibility as required by Federal law. Further, this offer and your continued employment are contingent upon the execution by you and Intrexon of the enclosed Confidentiality and Proprietary
Rights Agreement. 
 This letter and the Confidentiality and Proprietary Rights Agreement set forth the entire understanding between you and the Company
concerning your employment with the Company, and may not be modified or amended other than by a written agreement executed by the Company. The agreement reflected in this letter and the enclosed Confidentiality and Proprietary Rights Agreement
supersedes all prior discussions, agreements, arrangements, understanding and negotiations, written or oral, between you and the Company regarding the subject matter thereof. 

If you wish to accept this offer, please do so by signing this letter below and the enclosed Confidentiality and Proprietary Rights Agreement where indicated.
Please either fax or scan and email all of the documents to HR Operations, as indicated below, no later than close of business on August 8, 2016. A facsimile copy or portable document format (PDF) copy of any party’s signature to this
employment offer shall be as effective as an original signature. 
  

			
	FAX:	  	Attention HR Operations at (540) 301-2226
	EMAIL:	  	Attention Sarah Castle at Scastle@intrexon.com

 If you should have any questions concerning these instructions, please feel free to contact Sarah Castle, Associate Director,
Human Resources at (540) 443-7227. 
  

					
	Sincerely,	 		 	
			
	/s/ Rick Sterling	 		 	
			
	Rick Sterling	 		 	
	Chief Financial Officer	 		 	
			
	Accepted and agreed:	 		 	
			
	 /s/ Andrew Last, Ph.D.
	 		 	8/5/2016
	Andrew Last, Ph.D.	 		 	Date

  
 1750 Kraft Drive,
Suite 1400, Blacksburg, VA 24060    Office 540.443.7227    FAX 540.301.2226    www.DNA.comex10_1.htm

 Exhibit 10.1 

 

 

 INFINITY DISTRIBUTION, INC.  Convertible Promissory Note   USD: $35,000.00  Date:   April 24, 2015    FOR VALUE RECEIVED, the undersigned, Infinity Distribution, Inc., a Delaware corporation ("Borrower"), hereby promises to pay to Raul Mansueto ("Lender"), the principal sum of Thirty-Five Thousand Dollars ($35,000.00) ("Principal Sum"), or such lesser amount as may then be outstanding, together with accrued but unpaid interest thereon unless converted to common stock according to Section 1 herein ("Note"), on the earlier of (i) March 19, 2016 or (ii) the Next Equity Financing ("Maturity Date"). Interest on the outstanding Principal Sum shall be at a rate of 5.0% per annum ("Interest").  This Note being issued pursuant to, and subject to certain covenants and conditions contained in, a certain Convertible Note Purchase Agreement entered into between the partied dated herewith.   1.CONVERSION  a. Investment by Lender. The entire Principal Sum of and (at the Borrowers option) accrued  Interest on this Note shall be converted into shares of the common stock of the Borrower ("Shares"). The number of Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing (i) the entire Principal Sum of this Note plus (iff applicable) accrued Interest by (ii) 30% of the price per share of the securities sold in the Next Equity Financing, rounded to the nearest whole share.   b.Next Equity Financing. For purposes of the Note, the term "Next Equity Financing" shall mean a sale of equity securities by the Borrower.  c. Mechanics and Effect Conversion. Upon conversion of this Note, the Lender shall  surrender this Note, duly endorsed, at the principal offices of the Borrower or any transfer agent of the Borrower. At this expense, the Borrower will, as soon as practicable thereafter, issue and deliver to such Lender, at such principal office, a certificate of  certificates for the number of Shares to which such Lender is entitled upon such conversion. Upon conversion of this Note, the Borrower will be forever released from all of its obligations and liabilities under the Note with regard to the portion of the Princ ipal Sum and accrued Interest being converted including without limitation the obligation to pay such portion of the principal amount and accrued interest. Moreover, the Lender acknowledges and agrees that the securities underlying the Note, if converted, shall be subject to the applicable provisions of any shareholders agreement governing the Borrowers common stock and Lender agrees, as a condition to exercising any rights of conversion under the Note, to enter into any such shareholders agreement.    Page 1 of 2 

 

    

    

    

 

 

 

          2.                      Prepayment. Prepayment of this Note may be made at any time without penalty or premium.  3.Transfer; Successors and Assigns. The terms and conditions of this Note shall inure to the benefit  of and be, binding upon the respective successors and assigns of the parties. Notwithstanding the foregoing, the Lender may assign, pledge, or otherwise transfer this Note without the prior written consent of the Borrower.   4. Payment. Unless converted pursuant to Section 1 above, payment of the Principal Sum and  Interest on the Maturity Date shall be made by certified or bank cashiers check payable to the Lender at the Lender's principal address, or by bank wire transfer, in immediately available funds, to the account specified, in lawful money of the United States of America. If the Maturity Date occurs on a date that is not a Business Day then the Principal Sum or Interest then due shall be paid on the next succeeding Business Day_ "Business Day" shall mean any day other than Saturday, Sunday or any day upon which banks authorize or required to the closed.   IN WITNESS WHEREOF, the Borrower has caused this Note to be signed on its behalf, in its corporate name, by its duly authorized officer as an instrument under seal, as of the day and year first above written.   BORROWER:  INFINITY DISTRIBUTION, INC.      By:  Its:      LENDER:  RAUL MANSUETO      Its:ex10_2.htm

 Exhibit 10.2 

 

  EVOLUTION HOLDINGS, LTD. Convertible Promissory Note   USD:                                                                                                                     $35,000.00  Date:May 7, 2015   FOR VALUE RECEIVED, the undersigned, Infinity Distribution, Inc., a Delaware corporation ("Borrower"), hereby promises to pay to Raul Mansueto ("Lender"), the principal sum of Thirty-Five Thousand Dollars ($35,000.00) ("Principal Sum"), or such lesser amount as may then be outstanding,  together with accrued but unpaid interest thereon unless converted to common stock according to Section 1 herein ("Note"), on the earlier of (i) March 19, 2016 or (ii) the Next Equity Financing ("Maturity  Date"). Interest on the outstanding Principal Sum shall be at a rate of 5.0% per annum ("Interest").   This Note being issued pursuant to, and subject to certain covenants and conditions contained in, a certain Convertible Note Purchase Agreement entered into between the partied dated herewith.   1.CONVERSION  a.Investment by Lender. The entire Principal Sum of and (at the Borrowers option) accrued Interest on this Note shall be converted into shares of the common stock of the Borrower ("Shares"). The number of Shares to be issued upon such conversion shall be equal to the quotient obtained by dividing (i) the entire Principal Sum of this Note plus (iff applicable) accrued Interest by (ii) 30% of the price per share of the securities sold in the Next Equity Financing, rounded to the nearest whole share.   b.Next Equity Financing. For purposes of the Note, the term "Next Equity Financing" shall mean a sale of equity securities by the Borrower.  c. Mechanics and Effect Conversion. Upon conversion of this Note, the Lender shall  surrender this Note, duly endorsed, at the principal offices of the Borrower or any transfer agent of the Borrower. At this expense, the Borrower will, as soon as practicable thereafter, issue and deliver to such Lender, at such principal office, a certificate of  certificates for the number of Shares to which such Lender is entitled upon such conversion. Upon conversion of this Note, the Borrower will be forever released from all of its obligations and liabilities under the Note with regard to the portion of the Principal Sum and accrued Interest being converted including without limitation the obligation to pay such portion of the principal amount and accrued interest. Moreover, the Lender acknowledges and agrees that the securities underlying the Note, if converted, shall be subject to the applicable provisions of any shareholders agreement governing the  Borrowers common stock and Lender agrees, as a condition to exercising any rights of conversion under the Note, to enter into any such shareholders agreement. 

 

    

    

    

 

 Page 1 of 2     2.                                Prepayment. Prepayment of this Note may be made at any time without penalty or premium.  3.Transfer; Successors and Assigns. The terms and conditions of this Note shall inure to the benefit  of and be, binding upon the respective successors and assigns of the parties. Notwithstanding the foregoing, the Lender may assign, pledge, or otherwise transfer this Note without the prior written consent of the Borrower.   4. Payment. Unless converted pursuant to Section 1 above, payment of the Principal Sum and  Interest on the Maturity Date shall be made by certified or bank cashiers check payable to the Lender at the Lender's principal address, or by bank wire transfer, in immediately available funds, to the account specified, in lawful money of the United States of America. If the Maturity Date occurs on a date that is not a Business Day then the Principal Sum or Interest then due shall be paid on the next succeeding Business Day. "Business Day" shall mean any day other than Saturday, Sunday or any day upon which banks authorize or required to the closed.  IN WITNESS WHEREOF, the Borrower has caused this Note to be signed on its behalf, in its corporate name, by its duly authorized officer as an instrument under seal, as of the day and year first above written.   BORROWER:  INFINITY DISTRIBUTION, INC.             LENDER:  RAUL MANSUETO   By:RCAAAI(✓\e/./ Its:              Page 2 of 2

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