Document:

EX-10.17

 Exhibit 10.17 

Employment Agreement 

(Consolidation of the Successive Amendments to the Initial Contract dated January 2, 2006) 

 
 BETWEEN THE UNDERSIGNED 

The company CELLECTIS, having its registered office located at 8 rue de la Croix Jarry, 75013 Paris, France, represented by Mr. André
CHOULIKA, as Chief Executive Officer, 
 Below referred as the “Company” 

Of the one part, 
 And

 Mr. Luc Mathis, residing 30 rue Gambetta, 94270 Le Kremlin, France, born on December 7, 1969 in Paris 15th arrondissement, of French nationality, 
 Below referred as the “Employee” 

Of the other part, 
 Together
referred as the “Parties”. 
 RECITALS 
  

	 	•	 	By an indefinite term employment agreement entered into on January 2, 2006, the Company hired the Employee as of January 1, 2006 as Business Developer under the category of executive, ranking position II,
coefficient 100 (the “Initial Contract”). 

  

	 	•	 	Four amendments have been entered into on March 12, 2012, June 29, 2012, December 31, 2012 and December 31, 2013 between the Employee, the Company and Calyxt (formerly known as
“Cellectis Plant Sciences Inc”), a U.S. subsidiary of the Company, in order to set the conditions whereby the Employee has been seconded within Calyxt as Chief Executive Officer. 

 

	 	•	 	By a new amendment to the Initial Contract dated March 31, 2014, the Parties agreed that the Employee would fulfill the duties of “Head of the Plant Biotechnologies” within the Company as of April 1,
2014, under the authority and the instructions of the Chief Executive Officer. 

  

	 	•	 	By a new amendment to the Initial Contract dated July 1, 2016, the Parties agreed that the Employee would fulfill the duties of “Head of the New Projects” within the Company as of July 1, 2016, under
the authority and the instructions of the Chief Executive Officer. 

	 	•	 	The Parties agreed to execute the present agreement to sum up the relevant terms applicable as of Today to the Employee pertaining to his employment contract with the Company. 

It has been agreed as follows: 
 ARTICLE 1
– OFFICES 
 The Employee exercises since July 1, 2016 and shall continue to exercise the duties of “Head of the New Projects”,
under the authority and the instructions of the Chief Executive Officer or any other person designated by this latter, to whom the Employee shall report. 

Within the scope of his duties which encompass a creative dimension, the Employee will be responsible for the following tasks, this list being not limited:
the research of new strategic opportunities in the domain of the microbiome, the nutrition and health and their respective feasibility studies. 
 These
duties are changing by nature, which the Employee expressly accepts. Consequently, the Employee’s responsibilities may be partially modified, especially regarding the growth and evolution of the business and structure of the Company, which the
Employee hereby accepts. 
 ARTICLE 2 – INDUSTRIAL PROPERTY 

The Employee’s duties are creative. 
 Consequently, except
otherwise provided by legal mandatory provisions, it is hereby reminded that any invention made by the Employee during the exercise of his abovementioned duties and any other research or production that would result from or complement it, is the
sole property of the Company. 
 The Employee undertakes to immediately inform the Company of any of his invention. 

ARTICLE 3 – WORKPLACE 
 The Employee will
mainly perform his duties at the Company’s registered office currently located in the 13th arrondissement of Paris, it being agreed that the Employee may be asked to travel on a temporary
basis within France and abroad. 
 Any change of the usual workplace, required for the organization of the service and the good functioning of the business,
cannot be construed as a modification of the present agreement, even if it leads to a change of residency. 
 ARTICLE 4 – WORKING TIME –
REMUNERATION 
 The importance of the duties and the responsibilities entrusted to the Employee, which imply a large independence in the organization
and the management of his working time to achieve his mission, the autonomy granted to the Employee in the decision making process make him fall within the scope of the category of senior executives within the meaning of article L. 3111-2 of the
French Labor Code. 

  
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 Therefore, the Employee benefits from a fixed remuneration in consideration of the exercise of his mission, no
link being established between the amount of this remuneration and the time spent as a result of the exclusion of the Employee from the legal regime applicable to the working time. 

In consideration of his duties, the Employee receives since April 1st, 2015 an annual fixed gross
remuneration of one hundred fifty thousand euros (€ 150,000), an additional secondment bonus of one thousand eight hundred and seventy-five euros (€ 1,875) per month and a variable fee determined according to the objectives achieved,
as defined by the board of directors of the Company. 
 ARTICLE 5 – BUSINESS EXPENSES 

The expenses incurred by the Employee while carrying out his duties shall be, upon presentation of supporting documents, covered or reimbursed in accordance
with the terms and conditions in effect in the Company which could be modified over time without constituting a substantial modification of the present contract. 

ARTICLE 6 – EQUIPMENT 
 The Employee
undertakes to return, as of the effective termination of his duties, all the equipment belonging to the Company (computer, electronic agendas, software, telephone, fax, ...) in his possession and all the data concerning the Company (folder,
listing, programs, ...). 
 ARTICLE 7 – LOYALTY – CONFIDENTIALITY 

For the entire duration of this contract, the Employee shall be under a duty of loyalty owed to the Company. Without prejudice of the provisions set forth
under article 8 below, the Employee will be authorized to perform another professional activity, subject to the following conditions: 
  

	 	•	 	the activity developed by the Employee in any way whatsoever (whether under an employee regime or not, as corporate officer...) shall only be performed after the express authorization of the Chief Executive Officer
of the Company this latter being previously informed of the beneficiary entity and the duties of the Employee in this entity; 

  

	 	•	 	the activity developed by the Employee shall not benefit directly or indirectly to a business competing with one of the entities of the Cellectis group in France or throughout the world. 

  
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 Failure to comply with any of the above provision would constitute a serious breach of the Employee’s
professional obligations and would expose him to the payment of a lump sum of € 150,000 (one hundred fifty thousand euros), without prejudice to the Company’s right to obtain the full compensation of its damage before the courts of
competent jurisdiction. 
 It is also reminded that the developed activity shall not cause a decrease by circa 25% of the involvement of the Employee in the
Company. In this respect, the Parties recall the senior executive status of the Employee. 
 Given the research and development activity carried out within
the Company, the Employee shall remain bound, during the term of his employment contract and after its termination, to an absolute secrecy obligation, regarding all the activities of the Company, and especially regarding the patents, the processes,
the methods, the programs, the formulas, and any other information concerning the research and development activities, as well as the projects carried out by the Company, regardless the importance and the stage of development. 

Shall also be covered by this obligation of confidentiality, the information concerning the organization and the operation of the business, as well as all the
data or information which the Employee has had, have and could possibly know, directly or indirectly, whether or not these data or information are related to his duties. 

ARTICLE 8 – NON-COMPETITION 
 Given the
Company’s activity in the field of biotechnology, genome engineering research and development of patents, the investment made for the creation of a pole of expertise, the strategic nature of the information relating to the Company and the
market risks on which it operates. 
 Given the confidential nature and the high technicality of the former Employee’s position and the knowledge
gained in performing his functions, the highly secret and confidential nature of the information to which he had access, the Employee cannot, for whatever reason, in the event of the termination of this employment contract: 

 

	 	•	 	join a firm which has, fully or partially, a similar or comparable activity to the Company and which can be considered as a competitor, 

 

	 	•	 	get in contact, directly or indirectly, and in any form, with such a firm. 

 This non-competition clause is
limited to a two-year period, for a period of one year renewable once, beginning on the first day of the effective termination of this contract and covers the following regions: Ile de France, Alsace-Lorraine, Languedoc-Roussillon, Provence-Alpes
Côte d’Azur and Rhône-Alpes. 
 As consideration for the non-competition obligation provided above, the Employee shall receive, after
the effective termination of this contract, and throughout the prohibition 

  
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period, the financial compensation provided under article 28 of the national collective bargaining agreement applicable to the Engineers and executives working in the metal working sector
(“la Convention Collective Nationale Ingénieurs et Cadres de la Métallurgie”) namely:  
 “a monthly
special compensation equal to 5/10° of the average monthly salary as well as the contractual benefits and rewards the engineer or executives has received over the last twelve months of service in the company. 

However, in the event of a dismissal that is not caused by a serious misconduct (“faute grave”), this monthly compensation will be set at
6/10° of this average as long as the engineer or executive finds a new position and within the limit of the non-competition clause duration.” 

Any breach of this non-competition clause, while releasing the Company from its payment, will render the Employee indebted toward the Company for the amount
he received. 
 Any breach of this non-competition clause will automatically render the Employee liable to a penalty set to 6 months’ wages of the
monthly average wage earned over the last twelve months of service in the Company, this penalty being due for each discovered breach, without requiring a formal notice to end the competitive activity. 

The payment of this compensation shall not bar the Company from suing the Employee for reimbursement of the economic and moral damages actually suffered and
to obtain an injunction to stop the competitive activity. 
 Finally, pursuant to article 28 of the national collective bargaining agreement applicable to
the Engineers and executives working in the metal working sector (“la Convention Collective Nationale Ingénieurs et Cadres de la Métallurgie”) the Company, as of termination of this employment contract will be able to
release itself from the provided compensation by discharging the Employee from the non-competition clause provided that it informs the Employee in writing within eight days following the notification of the termination of this employment contract.

 ARTICLE 9 – NON POACHING 
 The Employee
undertakes not to seek or make an employment offer in any way whatsoever as employee or consultant, either on his own behalf or on behalf of any person or company for which he would become an employee, a corporate officer, a shareholder, a
consultant or otherwise interested, to an employee working within the Company or within an entity belonging to the Company’s group. 
 The Employee
also undertakes not to use in any circumstance, for whatever reason and capacity (CEO, employee, consultant, associate or any other position, even as a nonprofit), for his own benefit or for the benefit of a third party, the studies and projects led
by the Company on which he worked on or he was aware of in performing his duties. 

  
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 ARTICLE 10 – SOCIAL PROTECTION 

The Employee will benefit from all the pension benefits granted by the Company. 

The Employee cannot waive his right to these benefits nor to refuse to pay the share he would assume as his benefits and contributions are currently set or as
they could be set in the future because of a modification of his current regime. 
 ARTICLE 11 – DURATION OF CONTRACT 

This agreement is made for an indefinite term. It could be terminated at the request of either Party by providing a prior notice pursuant to the applicable
collective bargaining agreement, except for serious misconduct (“faute grave”) or force majeure. 
 ARTICLE 12 – APPLICABLE
LEGISLATION TO THE EMPLOYMENT RELATIONSHIP 
 Notwithstanding this written agreement, the following texts and provisions apply to the employment
relationship within the limits of their own terms: 
  

	 	•	 	the legal and regulatory provisions pertaining to paid vacations; 

  

	 	•	 	the applicable collective bargaining agreement in the Company regarding its main activity. The applicable bargaining agreement covers in particular the notice to be given in case of breach of contract. The Employee is
informed that the Company currently applies as a use the national collective bargaining agreement applicable to the Engineers and executives working in the metal working sector (“la Convention Collective Nationale Ingénieurs et Cadres
de la Métallurgie”); 

  

	 	•	 	the company’s internal regulation; and 

  

	 	•	 	the employer’s uses and unilateral decisions. 

 Made in Paris, 

The
                             

In two originals 
  

			
	Mr Luc MATHIS	 	 For the Company
 Mr André CHOULIKA

Chief Executive Officer

  
 6EX-10.18

 Exhibit 10.18 

 
 

 
 Mr Gregory R SMITH 
 3721
Glenhurst Avenue 
 St Louis, MN 55416 

April 24, 2015 
 Dear Mr Smith, 

On behalf of Cellectis Plant Sciences (the “Company”), I am pleased to offer you a position with the Company as Chief Financial Officer. This
offer letter (this “Letter”) sets forth the terms of your offer which, if you accept, will govern your employment with the Company. 
  

	1.	Certain Definitions. Certain words or phrases used in this Letter with initial capital letters will have the meanings set forth in paragraph 9 hereof. 

 

	2.	Employment. If you accept the terms of this Letter by April 27, 2015, the Company will employ you, and you accept employment with the Company, effective as of May 19, 2015 (the “Effective
Date”), upon the terms and conditions set forth in this Letter for the period beginning on the Effective Date and ending as provided in paragraph 5 hereof (the “Employment Period”). Notwithstanding anything in this
Letter to the contrary, you will be an at-will employee of the Company and you or the Company may terminate your employment with the Company for any reason or no reason at any time. 

 

	3.	Position and Duties. You will serve as Chief Financial Officer of the Company and will have the normal duties, responsibilities and authority of an employee serving in such position, subject to the Company’s
right to expand or limit such duties, responsibilities and authority, either generally or in specific instances. You shall devote all of your business time and attention to the performance of your duties under this Agreement and will not engage in
any other business, profession or occupation for compensation, or otherwise, that would conflict or interfere with the performance of these duties either directly or indirectly without the prior consent of the Company’s Board of Directors.
Notwithstanding the foregoing, you will be permitted to purchase and own less than five percent (5%) of the publicly-traded securities of any corporation, provided that this does not interfere with the performance of your duties and
responsibilities to the Company. 

  
 

 

 

 
  
  

	4.	Place of Performance. The principal place of your employment will be the Company’s office in New Brighton, Minnesota, except such other location as the parties mat agree upon from time to time and that you
may be required to travel on Company business during your employment. 

  

	5.	Compensation and Benefits. 

  

	 	(a)	Salary. The Company agrees to pay you a salary during the Employment Period in installments based on the Company’spractices as may be in effect from time to time. Your aggregate salary will be at the rate of
$175,000 per year (such annual salary, the “Base Salary”). 

 Your aggregate salary could increase at the
rate of $185,000 per year after the IPO if your performance is on expectations which will be based on achievement of individual goals which are established by the Board and/or the CEO in its sole discretion following start of employment. Following
the completion of the said IPO, the Board and/or the CEO will determine whether you have earned this raise. If your performance is below the expectations, your aggregate salary will remain at the rate of $175,000. 

 

	 	(b)	One-time IPO Bonus. You shall be eligible for a one-time IPO Bonus amounting to $50,000 upon timely & successful completion of the Company which is anticipated to take place in Q4 of 2015. This one-time
IPO Bonus will be based on achievement of individual goals which are established by the Board and/or the CEO in its sole discretion following start of employment. Following the completion of the said IPO, the Board and/or the CEO will determine
whether you have earned this one-time IPO Bonus, and the payment of any such bonus. Payment of the IPO Bonus shall be expressly conditioned upon your employment with the Company on the date that the one-time IPO Bonus is paid, except as provided in
paragraph 6(iv) below. The IPO Bonus shall be paid within the (90) days after successful completion of the IPO. In addition an equity award determined by the Board could be granted upon the same conditions. 

 

	 	(c)	 Annual Performance Bonus. For each calendar year strating in 2016, you shall be eligible to receive an
annual performance bonus (“Annual Performance Bonus”) from the Company. The Annual Performance Bonus will be based on achievement of individual and/or Company goals which are established by the Board and/or the CEO in its sole discretion
at the beginning of each calendar year. Following the close of each calendar year, the Board and/or the CEO 

  
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will determine whether you have earned an Annual Performance Bonus, and the amount of any such bonus. Payment of the Annual Performance Bonus shall be expressly conditioned upon your employment
with the Company on the date that the Annual Performance Bonus is paid, except as provided in paragraph 6(iv) below. The Annual Performance Bonus shall be paid within the ninety (90) days after the end of the calendar year for which it relates.
Your targets Annual Performance Bonus will be subject to periodic review and adjustment by the Board and/or the CEO from time to time and shall no exceed 25% of your base salary. 

 

	 	(d)	Equity Award. When a new or revised option plan exists, you will be recommended to the board of directors to receive a grant of options for CPS stock at a level commensurate with your position as an
officer. As part of the above, you will be recommended to the board of directors to receive an option award upon plan associated with the capital increase following Cellectis IPO and upon the successful IPO of CPS.” 

 

	 	(e)	Executive Benefits Package. You will be entitled during the Employment Period to participate, on the same basis as other executives of the Company, in the Company’s Executive Benefits Package. The
Company’s “Executive Benefits Package” means those benefits (including insurance and other benefits, but excluding, except as hereinafter provided in subparagraph 7(b), any severance pay program or policy of the Company) for which
substantially all of the executives of the Company are from time to time generally eligible, as determined from time to time by the Company’s Board of Directors (the “Board”). The Company reserves the right to amend or cancel
any executive benefit plans, programs, or policy at any time in its sole discretion, subject to the terms of the executive benefit plan and applicable law. 

  

	 	(f)	Vacation. During the Employment Period, you will be entitled to take paid vacation pursuant to the Company’s existing policies regarding paid vacations. You will be entitled to 15 days of paid vacation per
year. Your vacation time will accrue on a monthly basis at a rate of 1.25 days per month. Vacation time that is not used may be carried over to the next calendar year, but you will cease to accrue vacation time beyond your annual entitlement (i.e.,
15 days). Vacation accruals will recommence after you have taken vacation and your accrued vacation time has dropped below the maximum annual entitlement. 

  
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	 	(g)	Business Expenses. The Company will reimburse you for reasonable and necessary business expenses incurred by you in the conduct of Company business, in accordance with the Company’s reimbursement policies
and procedures. You will also be reimbursed for reasonable professional membership fees, subject to approval of the Company’s Chief Executive Officer, up to $1,000 per year. 

 

	6.	Employment Period. 

 Except as hereinafter provided, the Employment Period will continue
until terminated by one party with the occurrence of any of the following events: 
  

	 	(i)	your death; 

  

	 	(ii)	the Company’s termination of your employment due to Permanent Disability; 

  

	 	(iii)	a Termination For Cause; 

  

	 	(iv)	a Termination Without Cause; 

  

	 	(v)	a Voluntary Termination. 

  

	7.	Post-Employment Payments 

  

	 	(a)	Upon the termination of your employment for any reason, you will cease to have any rights to salary, bonus awards, business expense reimbursements or other benefits, except that you will be entitled to receive
(i) any Base Salary which has accrued but is unpaid, any reimbursable business expenses which have been incurred but are unpaid, and any vacation days which have accrued under the Company’s vacation policy but are unused, as of your
Termination Date; (ii) any plan benefits which by their terms extend beyond termination of your employment (but only to the extent provided in any benefit plan in which you participated as an employee of the Company and excluding any severance
payments or benefits under any program or policy of the Company and excluding any severance pay program or policy of the Company); and (iii) any benefits to which you are entitled under Part 6 of Subtitle B of Title I of the Employee Retirement
Income Security Act of 1974, as amended (“COBRA”). 

  

	 	(b)	If the Employment Period ends pursuant to paragraph 6 on account of a Termination Without Cause, the Company will pay you a lump-sum payment on the Company’s first payroll date that follows the date of your
termination in an amount equal to 3 months of your Base Salary. The Company may propose another severance plan by the end of a 3 months period after your arrival. 

  
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	 	(c)	Release. Notwithstanding anything herein to the contrary, your receipt of any benefit under any severance pay program or policy of the Company is conditioned upon (i) your execution of a release of all
current or future claims, known or unknown, arising on or before the date of the release against the Company and its subsidiaries and the directors, officers, employees and affiliates of any of them, in a form approved by the Company and
(ii) your non-revocation of such release during any applicable revocation period. 

  

	8.	Competitive Activity; Confidentiality; Nonsolicitation ; Discoveries and Inventions; Work Made of Hire. 

  

	 	(a)	Acknowledgements and Agreements. You hereby acknowledge and agree that in the performance of your duties to the Company, you will be brought into frequent contact with Existing Customers and Potential Customers
of the Company throughout the world. You agree that trade secrets and confidential information of the Company, more fully described in subparagraph 8(e)(i), gained by you during your association with the Company, have been developed by the Company
through substantial expenditures of time, effort and money and constitute valuable and unique property of the Company. You further understand and agree that the foregoing makes it necessary for the protection of the Company’s Business that you
do not compete with the Company during your employment with the Company and that you do not compete with the Company for a reasonable period thereafter, as further provided in the following subparagraphs. 

 

	 	(b)	Competitive activity. 

  

	 	(i)	While employed by the Company, and for a period of one (1) year following your termination Date, you will not compete, directly or indirectly, with the Company in United States. In accordance with this restriction,
but without limiting its terms, while employed by the Company, you will not: 

  

	 	(A)	enter into or engage in any business which competes with the Company’s Business and in particular but not limited with any of the following entities, in any geographic region : 

– Monsanto 

– Pioneer 

– Bayer 

– Syngenta 

  
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 – Dow 

– KWS 

– Arcadia 

– Precision Bioscience 

And in any CrispR Agriculture company 
  

	 	(B)	solicit customers, business, patronage or orders for, or sell, any products or services in competition with, or for any business that competes with, the Company’s Business; 

 

	 	(C)	divert, entice or otherwise take away any customers, business, patronage or orders of the Company or attempt to do so; or 

  

	 	(D)	promote or assist, financially or otherwise, any person, firm, association, partnership, corporation or other entity engaged in any business which competes with the Company’s Business. 

 

	 	(ii)	Direct or Indirect Competition. For the purpose of subparagraph 8(b)(i) but without limitation thereof, you will be in violation thereof if you engage in any or all of the activities set forth therein directly as
an individual on your own account, or indirectly as a partner, joint venturer, employee, agent, salesperson, consultant, officer and/or director of any firm, association, partnership, corporation or other entity, or as a stockholder of any
corporation in which you or your spouse, child or parent owns, directly or indirectly, individually or in the aggregate, more than five percent of the outstanding stock. 

 

	 	(iii)	If it is judicially determined that you have violated subparagraph 8(b)(i), then the period applicable to each obligation that you have been determined to have violated will automatically be extended from the date of
judicial determination by a period of time equal in length to the period during which such violation(s) occurred. 

  

	 	(c)	The Company. For purposes of this paragraph 8©, the Company will include any and all direct and indirect subsidiary, parent, affiliated, or related
companies of the Company for which you worked or had responsibility at the time of termination of your employment and at any time during the two-year period prior to such termination. 

  
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	 	(d)	Non-Solicitation. 

  

	 	(i)	Of Customers. You will not directly or indirectly at any time during the period of your employment or for a period of twenty-four (24) months following your Termination Date, directly or indirectly, solicit,
divert, or take away or supervise any other person, firm, or other entity in soliciting, diverting, or taking away any Customer or Prospective Customer of the Company for the purpose of selling, performing or providing Business Services to that
Customer or Prospective Customer. 

  

	 	(ii)	Of Employees. You will not, directly or indirectly, at any time during the period of your employment or for a period of twenty-four (24) months following your Termination Date solicit, hire, employ, engage,
affiliate with for profit, retain (or assist any other person or entity in soliciting, hiring, employing, engaging, affiliating for profit or retaining) any person who was a Company employee or consultant or independent contractor at any time during
the one (1)-year period prior to your soliciting, hiring, employing, engaging, affiliating for profit or retaining, whether for your benefit or the benefit of any other person or organization other than the Company, or solicit, induce, or encourage
any such person to terminate or leave the Company’s employ, engagement, or other remunerative relationship with the Company. You acknowledge that this covenant is necessary to enable the Company to maintain a stable workforce and remain in
business. 

  

	 	(e)	Confidentiality.  

  

	 	(i)	 You will keep in strict confidence, and will not, directly or indirectly, at any time, during or after your
employment with the Company, disclose, furnish, disseminate, make available or, except in the course of performing your duties of employment, use any trade secrets or confidential business and technical information of the Company or its Customers,
suppliers or vendors, without limitation as to when or how you may have acquired such information. Such confidential information will include, without limitation, all information belonging to the Company, its affiliates, subsidiaries, or any other
person or entity that has entrusted information to the Company in confidence, technology, computer programs or programming, systems, software, software codes, designs, data bases, trade secrets, know-how, research, methods, manuals, records, product
or service ideas or plans, work-in-progress, results, algorithms, inventions, developments, original works of authorship, discoveries, experimental processes, experimental results, unpublished patent applications, laboratory notebooks, processes,
formulas, investigation or research techniques, 

  
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engineering designs and drawings, hardware configuration information, regulatory information, medical reports, clinical data and analysis reagents, cell lines, biological materials, chemical
formulas, financial information including but not limited to price lists, pricing methodologies, cost data, financial forecasts, historical financial data, and budgets, marketing information, including but not limited to market share data, marketing
plans, licenses, business plans, lists of the needs and preferences of Customers and Prospective Customers, promotional materials, training courses and other training and instructional materials, vendor and product information, all agreements with
third parties and terms of agreements, transactions and potential transactions, negotiations, information relating to employees and consultants of the Company, including names, contact information, and expertise, lists of or information relating to
suppliers and vendors and other business information disclosed by the Company (whether by oral, written, graphic or machine-readable format) which confidential information is designated in writing to be confidential or proprietary, or if given
orally, is confirmed in writing as having been disclosed as confidential or proprietary within a reasonable time (not to exceed 30 days after the oral disclosure), or which information would, under the circumstances appear to a reasonable person to
be confidential or proprietary. 

  

	 	(ii)	You specifically acknowledge that all such confidential information, whether reduced to writing, maintained on any form of electronic media, or maintained in your mind or memory and whether compiled by the Company,
and/or you, derives independent economic value from not being readily known to or ascertainable by proper means by others who can obtain economic value from its disclosure or use, that reasonable efforts have been made by the Company to maintain the
secrecy of such information, that such information is the sole property of the Company and that any retention and your use of such information during your employment with the Company (except in the course of performing your duties and obligations to
the Company) or after the termination of your employment will constitute a misappropriation of the Company’s trade secrets. 

  

	 	(iii)	 You agree that upon termination of your employment with the Company, for any reason, you will return to the
Company, in good condition, all property of the Company, including without limitation, the originals and all copies of any documents in whatever form (electronic, hard copy, etc.) or materials which contain, reflect, summarize, describe, analyze or
refer or relate to any items of information listed in subparagraph 8(e)(i) of this Letter. You agree 

  
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that all confidential information, as listed in subparagraph 8(e)(i) of this Letter is the sole property of the Company and you have no right, title or interest to this property. In the event
that such items are not so returned, the Company will have the right to charge you for all reasonable damages, costs, attorneys’ fees and other expenses incurred in searching for, taking, removing and/or recovering such property.

  

	 	(iv)	Notwithstanding the above, you will have no liability to the Company with regard to any confidential information you can prove was in the public domain at the time it was disclosed or entered the public domain through
no fault of yours. 

  

	 	(f)	Discoveries and Inventions; Work Made for Hire. 

  

	 	(i)	You agree that upon conception and/or development of any idea, discovery, invention, improvement, software, writing or other material or design that: (A) relates to the business of the Company, or (B) relates
to the Company’s actual or demonstrably anticipated research or development, or (C) results from any work performed by you for the Company, you will assign to the Company the entire right, title and interest in and to any such idea,
discovery, invention, improvement, software, writing or other material or design (together, “Discoveries and Inventions”) Subject to the requirements of applicable state law, if any, you understand that Discoveries and Inventions will not
include, and the provisions of this Agreement will not apply to any idea, discovery, invention, improvement, software, writing or other material or design that qualifies fully for exclusion under the provisions of applicable state law. You also
agree that any idea, discovery, invention, improvement, software, writing or other material or design that relates to the business of the Company or relates to the Company’s actual or demonstrably anticipated research or development which is
conceived or suggested by you, either solely or jointly with others, within one year following termination of your employment under this Letter or any successor agreements will be presumed to have been so made, conceived or suggested in the course
of such employment with the use of the Company’s equipment, supplies, facilities, and/or trade secrets. 

  

	 	(ii)	 You agree that during your employment, and for one year after termination of your employment under this Letter or
any successor agreements, you will disclose immediately and fully to the Company any Discovery and Invention conceived, made or developed by you solely or jointly with others. The Company agrees to keep any such disclosures confidential. You also
agree to record descriptions of all work in the manner directed by the 

  
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Company, agree that all such records and copies, samples and experimental materials will be the exclusive property of the Company, and agree not to remove these records from the Company’s
place of business except as expressly permitted by Company policy which may, from time to time, be revised at the sole election of the Company for the purpose of furthering the Company’s business. You agree that at the request of and without
charge to the Company, but at the Company’s expense, you will execute a written assignment of the idea, discovery, invention, improvement, software, writing or other material or design to the Company and will assign to the Company any
application for letters patent or for trademark registration made thereon, and to any common-law or statutory copyright therein; and that you will do whatever may be necessary or desirable to enable the Company to secure any patent, trademark,
copyright, or other property right therein in the United States and in any foreign country, and any division, renewal, continuation, or continuation in part thereof, or for any reissue of any patent issued thereon. In the event the Company is
unable, after reasonable effort, and in any event after ten business days, to secure you signature on a written assignment to the Company of any application for letters patent or to any common-law or statutory copyright or other property right
therein, whether because of your physical or mental incapacity or for any other reason whatsoever, you irrevocably designate and appoint the General Counsel of the Company as your attorney-in-fact to act on your behalf to execute and file any such
application and to do all other lawfully permitted acts to further the prosecution and issuance of such letters patent, copyright or trademark. Any assignment of the rights to an idea, discovery, invention, improvement, software, writing or other
material or design includes all rights of attribution, paternity, integrity, modification, disclosure and withdrawal, any other rights through- out the world that may be known or referred to as “moral rights,” “artists rights,”
“droit moral,” or the like. (“Moral Rights”) To the extent that Moral Rights cannot be assigned under applicable law, you hereby waive and agree not to enforce any and all Moral Rights, including, without limitation, any
limitation on subsequent modification, to the extent permitted under applicable law. 

  

	 	(iii)	 You acknowledge that, to the extent permitted by law, all work papers, reports, documentation, drawings,
photographs, negatives, tapes and masters therefor, prototypes and other materials (hereinafter, “items”), including without limitation, any and all such items generated and maintained on any form of electronic media, generated by you
during your employment with 

  
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the Company will be considered a “work made for hire” and that ownership of any and all copyrights in any and all such items will belong to the Company. The item will recognize the
Company as the copyright owner, will contain all proper copyright notices, e.g., “(creation date), All Rights Reserved,” and will be in condition to be registered or otherwise placed in compliance with registration or other statutory
requirements throughout the world. 

  

	 	(g)	Communication of Contents of Agreement. While employed by the Company and for one year thereafter, you will communicate the contents of paragraph 8 of this Letter to any person, firm, association, partnership,
corporation or other entity that you intend to be employed by, associated with, or represent. 

  

	 	(h)	Confidentiality Agreements. You agree that you will not disclose to the Company or induce the Company to use any secret or confidential information belonging to your former employers. Except as indicated, you
warrant that you are not bound by the terms of a confidentiality agreement or other agreement with a third party that would preclude or limit your right to work for the Company and/or to disclose to the Company any ideas, inventions, discoveries,
improvements or designs or other information that may be conceived during employment with the Company. You agree to provide the Company with a copy of any and all agreements with a third party that preclude or limit your right to make disclosures or
to engage in any other activities contemplated by your employment with the Company. 

  

	 	(i)	Relief. You acknowledge and agree that the remedy at law available to the Company for breach of any of your obligations under this Letter would be inadequate. You therefore agree that, in addition to any other
rights or remedies that the Company may have at law or in equity, temporary and permanent injunctive relief may be granted in any proceeding which may be brought to enforce any provision contained in subparagraphs 8(b), 8(d), 8(e), 8(f), 8(g) and
8(h) inclusive, of this Letter, without the necessity of proof of actual damage or the need to post a bond. 

  

	 	(j)	Reasonableness. You acknowledge that your obligations under this paragraph 8 are reasonable in the context of the nature of the Company’s Business and the competitive injuries likely to be sustained by
the Company if you were to violate such obligations. You further acknowledge that this Letter is made in consideration of, and is adequately supported by the agreement of the Company to perform its obligations under this Letter and by other
consideration, which you acknowledge constitutes good, valuable and sufficient consideration. 

  
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	9.	Definitions. 

  

	 	(a)	“Customer” means any client, customer or account, including, but not limited to any person, firm, corporation, association or other business entity of any kind to which the Company has provided or is
providing products or services. 

  

	 	(b)	“Company’s Business” means the research, development, and/or commercialization of products and services based on gene-editing technologies in the field of agriculture, food and plant sciences,
which is to be construed to include all research, development, and/or commercialization of products and services as may hereinafter evolve within the gene editing field or is in planning or developmental stages at the Company 

 

	 	(c)	“Permanent Disability” means that, because of accident, disability, or physical or mental illness, you are incapable of performing your duties to the Company or any subsidiary, as determined by the
Board. Notwithstanding the foregoing, you will be deemed to have become incapable of performing your duties to the Company or any subsidiary, if you are incapable of so doing for (i) a continuous period of 90 days and remain so incapable at the
end of such 90 day period or (ii) periods amounting in the aggregate to 180 days within any one period of 365 days and remain so incapable at the end of such aggregate period of 180 days. 

 

	 	(d)	“Prospective Customer” means any prospective client, customer or account, including, without limitation, any person, firm, corporation, association or other business entity of any kind with which the
Company had any negotiations or substantial discussions regarding the possibility of providing products or services within the one (1) year period preceding your Termination Date. 

 

	 	(e)	“Section 409A” means Section 409A of the Internal Revenue Code of 1986, as amended, and any guidance issued thereunder. 

 

	 	(f)	“Termination Date” means the effective date of your termination of employment with the Company. 

  
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	 	(g)	“Termination For Cause” means the termination by the Company or any subsidiary of your employment with the Company or any subsidiary as a result of (i) your conviction of or plea of guilty or nolo
contendere to a crime that constitutes a felony or a crime that constitutes a misdemeanor involving moral turpitude; (ii) your engagement in an act of fraud, dishonesty, or unauthorized disclosure of confidential information (as defined in this
Agreement); (iii) your conduct that brings the Company or any subsidiary or affiliate of the Company into substantial public disgrace or disrepute; (iv) your gross negligence or gross misconduct with respect to the Company or any
subsidiary or affiliate of the Company; (v) your insubordination or failure to follow the directions of any officer of the Company; (vi) your material failure to comply with the Company’s written policies or rules, as they may be in
effect from time to time during your employment, which is not cured within five (5) days after written notice thereof to you; or (vii) your material breach of this Letter or any other agreement with the Company or any subsidiary, which is
not cured within thirty (30) days after written notice thereof to you. 

  

	 	(h)	“Termination Without Cause” means the termination by the Company or any subsidiary of your employment with the Company or any subsidiary for any reason other than a termination for Permanent Disability
or a Termination for Cause. 

  

	 	(i)	“Voluntary Termination” means your termination of your employment with the Company or any subsidiary for any reason. 

 

	10.	Survival. Subject to any limits on applicability contained therein, paragraph 8 hereof will survive and continue in full force in accordance with its terms notwithstanding any termination of the Employment
Period. 

  

	11.	Taxes. The Company may withhold from any amounts payable under this Letter all federal, state, city or other taxes as the Company is required to withhold pursuant to any applicable law, regulation or ruling.
Notwithstanding any other provision of this Letter, the Company will not be obligated to guarantee any particular tax result for you with respect to any payment provided to you hereunder, and you will be responsible for any taxes imposed on you with
respect to any such payment. 

  

	12.	Notices. Any notice provided for in this Letter will be in writing and will be either personally delivered, sent by reputable overnight carrier or mailed by first class mail, return receipt requested, to the
recipient at the address below indicated: 

  
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 Notices to You: 

Mr Gregory R SMITH 
 3721
Glenhurst Avenue 
 St Louis, MN 55416 

Notices to the Company: 

Cellectis plant sciences 
 Mr Luc
Mathis, CEO 
 600 County Road D STE 8 

New Brighton, MN 55112 
 or such
other address or to the attention of such other person as the recipient party will have specified by prior written notice to the sending party. Any notice under this Letter will be deemed to have been given when so delivered. 

 

	13.	Severability. Whenever possible, each provision of this Letter will be interpreted in such manner as to be effective and valid under applicable law, but if any provision of this Letter is held to be invalid or
unenforceable in any respect under any applicable law, such invalidity or unenforceability will not affect any other provision, but this Letter will be reformed, construed and enforced as if such invalid or unenforceable provision had never been
contained herein. Should a determination be made by the Court designated in paragraph 18 hereof that the character, duration, or geographical scope of paragraph 8 of the Agreement is unreasonable in light of the circumstances as they then exist,
then it is the intention and the agreement of the parties to the Agreement that the provision be construed by the Court in such a manner as to impose only those restrictions on the parties that are reasonable in light of the circumstances as they
then exist and as are necessary to assure the parties of the intended benefit of the Agreement. If, in any judicial proceeding, the Court refuses to enforce all of the separate provisions included in the Agreement because, taken together, they are
more extensive than necessary to assure the parties of the intended benefit of the Agreement, those provisions which, if eliminated, would permit the remaining separate provisions to be enforced in such proceeding, will, for the purpose of such
proceeding, be deemed eliminated from the Agreement. 

  
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	14.	Party’s Litigation Expenses. In the event of litigation between you and the Company related to this Letter, the initiating and non-prevailing party will reimburse the prevailing party for any costs and
expenses (including, without limitation, attorneys’ fees) reasonably incurred by the prevailing party in connection therewith. 

  

	15.	Complete Agreement. This Letter embodies the complete agreement and understanding between the parties with respect to the subject matter hereof and effective as of its date supersedes and preempts any prior
understandings, agreements or representations by or between the parties, written or oral, which may have related to the subject matter hereof in any way. 

  

	16.	Counterparts. This Letter may be executed in separate counterparts, each of which will be deemed to be an original and both of which taken together will constitute one and the same agreement. 

 

	17.	Successors and Assigns. This Letter will bind and inure to the benefit of and be enforceable by you, the Company and your and the Company’s respective heirs, executors, personal representatives, successors
and assigns, except that neither party may assign any rights or delegate any obligations hereunder without the prior written consent of the other party. You hereby consent to the assignment by the Company of all of its rights and obligations
hereunder to any successor to the Company by merger or consolidation or purchase of all or substantially all of the Company’s assets, provided such transferee or successor assumes the liabilities of the Company hereunder. 

 

	18.	Choice of Law. This Letter will be governed by, and construed in accordance with, the internal, substantive laws of the State of Delaware. You agree that the state and federal courts located in the State of
Delaware will have jurisdiction in any action, suit or proceeding against you based on or arising out of this Letter and you hereby: (a) submit to the personal jurisdiction of such courts; (b) consent to service of process in connection
with any action, suit or proceeding against you; and (c) waive any other requirement (whether imposed by statute, rule of court or otherwise) with respect to personal jurisdiction, venue or service of process. 

 

	19.	Amendment and Waiver. The provisions of this Letter may be amended or waived only with the prior written consent of you and the Company, and no course of conduct or failure or delay in enforcing the provisions of
this Letter will affect the validity, binding effect or enforceability of this Letter. 

  
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	20.	Section 409A. Any payments that are made pursuant to paragraph 7 above are intended to be exempt from Section 409A under Treasury Regulation section 1.409A-1(d) (short-term deferrals), and this Letter
shall be interpreted and administered consistent with this intent. 

 If these terms are acceptable to you, please sign and date this Letter
in the appropriate space below and return it to me as soon as possible. We look forward to you becoming a part of our team. 
 Please call me with any
questions at (651) 683 2807. 
 Sincerely, 
  

	
	
	   

	Luc Mathis, CEO

  

			
		
	Date:	 	 

  

	
	Agreed and Accepted:
	
	   

	Employee Signature

  

			
		
	Date:	 	 

  
 Page 16 of 16

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