Document:

EX-10.1

 Exhibit 10.1 

DISTRIBUTION SERVICES AGREEMENT 

DISTRIBUTION SERVICES AGREEMENT dated and effective as of June 20, 2016 (this “Agreement”) among PowerShares DB US
Dollar Index Trust, a Delaware statutory trust organized in series (the “Trust”), each series of the Trust as set forth on Schedule A attached hereto, and as it may be amended from time-to-time (individually, each a
“Fund” and collectively, the “Funds”), Invesco Distributors, Inc., a Delaware corporation and a registered broker-dealer under the Securities Exchange Act of 1934 (the “Distributor”), and Invesco
PowerShares Capital Management LLC, a Delaware limited liability company (the “Managing Owner”). Capitalized terms used but not defined in this Agreement shall have the meaning ascribed thereto in the Trust’s Prospectus
included in its corresponding Registration Statement as referenced in the attached Schedule C. 
 WHEREAS, the Managing Owner serves
as the sole managing owner of each Fund; and 
 WHEREAS, each Fund and the Managing Owner wish to employ Distributor in connection with the
performance of the services listed in Schedule B and additional services as may be agreed to from time-to-time. 
 NOW, THEREFORE, in
consideration of the mutual promises and undertakings herein contained, the parties agree as follows: 
 1. Documents — The Trust has furnished
or will furnish, upon request, the Distributor with copies of the Trust’s or, as applicable, each Fund’s Amended and Restated Declaration of Trust, advisory agreement, custodian agreement, transfer agency agreement, administration
agreement, current prospectus, and statement of additional information, and all forms relating to any plan, program or service offered by each Fund. The Trust shall, on behalf of each Fund, furnish, within a reasonable time period, to the
Distributor a copy of any amendment or supplement to any of the above-mentioned documents. Upon request, the Trust, on behalf of each Fund, shall furnish promptly to the Distributor any additional documents necessary or advisable to perform its
functions hereunder. As used in this Agreement the terms “registration statement,” “prospectus” and “statement of additional information” shall mean any registration statement, prospectus and statement of additional
information filed by the Trust and each Fund with the Securities and Exchange Commission (“SEC”) and any amendments and supplements thereto that are filed with the SEC. 

2. Authorized Representations — The Distributor is not authorized by the Trust or any Fund to give any information or to make any representations
other than those contained in the registration statement or prospectus and statement of additional information, or contained in shareholder reports or other material that may be prepared by or on behalf of the Trust or any Fund for the
Distributor’s use. Consistent with the foregoing, the Distributor may prepare and distribute sales literature or other material as it may deem appropriate in consultation with the Trust and the Managing Owner, provided such sales literature is
approved in accordance with Paragraph 8 below and complies with applicable law and regulations. 
 3. Registration of Shares — The Trust agrees
that it will take all action necessary to register the Shares of each Fund under the Securities Act of 1933 (the “Securities Act”) (subject to the necessary approval of its shareholders). The Trust shall make available to the Distributor,
at the Distributor’s expense, such number of copies of its prospectus and statement of additional information as the Distributor may reasonably request. The Trust shall furnish to the Distributor copies of all information, financial statements
and other papers related to the Funds, which the Distributor may reasonably request for use in connection with the distribution of Shares of each Fund. 

4. Fees and Fund Expenses — (a) In consideration of the services to be performed for each Fund by the Distributor hereunder as set forth on
Schedule B attached hereto and as it may be amended from time-

 
to-time, the Managing Owner (and not the Trust or any Fund) will pay the Distributor a fee in an amount set forth in Schedule C hereto, subject to any limitation imposed by any law, rule
or regulation applicable to any of the parties hereto. 
 (b) The Managing Owner shall reimburse the Distributor for any reasonable fees or
disbursements incurred by the Distributor in connection with the performance by the Distributor of its duties under and pursuant to this Agreement with the prior written consent of the Managing Owner. Further, unless otherwise agreed to by the
parties hereto in writing, the Distributor shall not be responsible for fees and expenses in connection with (a) filing of any registration statement, printing and the distribution of any prospectus and statement of additional information under the
Securities Act and amendments prepared for use in connection with the offering of Shares for sale to the public, preparing, setting in type, printing and mailing the prospectus, statement of additional information and any supplements thereto sent to
existing shareholders, (b) preparing, setting in type, printing and mailing any report (including annual and semi-annual reports) or other communication to shareholders of the Funds, and (c) the Blue Sky registration and qualification of Shares for
sale in the various states in which the officers of each Fund shall determine it advisable to qualify such Shares for sale (including registering the Trust or any Fund as a broker or dealer or any officer of the Trust or any Fund as agent or
salesman in any state). 
 (c) The Managing Owner, on behalf of each Fund, will monitor compensation received in connection with the Trust
to determine if the payments described hereunder must be limited, when combined with selling commissions charged by other FINRA members, in order to comply with the 10% limitation on total underwriters’ compensation pursuant to FINRA Rule 2310.

 5. Use of the Distributor’s Name — Neither the Trust nor any Fund shall use the name of the Distributor, or any of its affiliates, in
any prospectus or statement of additional information, sales literature, and other material relating to the Funds in any manner without the prior written consent of the Distributor (which shall not be unreasonably withheld); provided,
however, that the Distributor hereby approves all lawful uses of the names of the Distributor and its affiliates in the prospectus and statement of additional information of each Fund and in all other materials which merely refer to accurate
terms to their appointment hereunder or which are required by the SEC, FINRA, OCC, CFTC, NFA or any state securities authority. 
 6. Use of the
Trust’s and Funds’ Name — Neither the Distributor nor any of its affiliates shall use the name of the Trust or any Fund in any publicly disseminated materials, including sales literature in any manner without the prior consent of
the Trust and/or the applicable Fund (which shall not be unreasonably withheld); provided, however, that the Trust and each Fund hereby approve all lawful uses of their respective names in any required regulatory filings of the
Distributor which merely refer in accurate terms to the appointment of the Distributor hereunder, or which are required by the SEC, FINRA, OCC, CFTC, NFA or any state securities authority. 

7. Indemnification — Subject to the limitations set forth in Paragraph 12 below, each Fund agrees to indemnify and hold harmless the Distributor
and each of its directors and officers and each person, if any, who controls the Distributor within the meaning of Section 15 of the Securities Act, against any loss, liability, claim, damage or expense (including the reasonable cost of
investigating or defending any alleged loss, liability, claim, damage or expense and reasonable counsel fees incurred in connection therewith) by reason of any person acquiring any Shares, based upon the ground that the registration statement,
prospectus, statement of additional information, shareholder reports or other information filed or made public by any Fund (as from time-to-time amended) included an untrue statement of a material fact or omitted to state a material fact required to
be stated or necessary in order to make the statements not misleading under the Securities Act or any other statute or the common law. However, each Fund does not agree to indemnify the Distributor or hold it harmless to the extent that the
statement or omission 

 
was made in reliance upon, and in conformity with, information furnished to it by or on behalf of the Distributor. In no case (i) is the indemnity of any Fund in favor of the Distributor or
any person indemnified to be deemed to protect the Distributor or any person against any liability to a Fund or its security holders to which the Distributor or such person would otherwise be subject by reason of willful misfeasance, bad faith or
negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties under this Agreement, or (ii) is a Fund to be liable under its indemnity agreement contained in this paragraph with respect to any claim
made against the Distributor or any person indemnified unless the Distributor or person, as the case may be, shall have notified the applicable Fund in writing of the claim promptly after the summons or other first written notification giving
information of the nature of the claims shall have been served upon the Distributor or any such person (or after the Distributor or such person shall have received notice of service on any designated agent). However, failure to notify a Fund of any
claim shall not relieve that Fund from any liability which it may have to any person against whom such action is brought otherwise than on account of its indemnity agreement contained in this paragraph. Each Fund shall be entitled to participate at
its own expense in the defense, or, if it so elects, to assume the defense of any suit brought to enforce any claims, and if a Fund elects to assume the defense, the defense shall be conducted by counsel chosen by such Fund. In the event a Fund
elects to assume the defense of any suit and retain counsel, the Distributor, officers or directors or controlling person(s) or defendant(s) in the suit, shall bear the fees and expenses of any additional counsel retained by them. If a Fund does not
elect to assume the defense of any suit, it will reimburse the Distributor, officers or directors or controlling person(s) or defendant(s) in the suit for the reasonable fees and expenses of any counsel retained by them. Each Fund agrees to notify
the Distributor promptly of the commencement of any litigation or proceeding against it or any of its officers in connection with the issuance or sale of any of the Shares. 

The Distributor also covenants and agrees to indemnify and hold harmless the Trust and each Fund, the Managing Owner, and each of their respective officers,
representatives or agents and each person, if any, who controls the Trust and each Fund or the Managing Owner within the meaning of Section 15 of the Securities Act (each, an “Indemnified Party”), against any loss, liability, claim,
damage or expense (including the reasonable cost of investigating or defending any alleged loss, liability, claim, damage or expense and reasonable counsel fees incurred in connection therewith) arising by reason of any person acquiring any Shares,
based upon the Securities Act or any other statute or common law, alleging (a) any wrongful act of the Distributor or any of its employees or (b) that any sales literature, advertisements, information, statements or representations used or made by
the Distributor or any of its affiliates or employees or that the registration statement, prospectus, statement of additional information, (as from time-to-time amended) included an untrue statement of a material fact or omitted to state a material
fact required to be stated or necessary in order to make the statements not misleading, insofar as the statement or omission was made in reliance upon, and in conformity with, information furnished to such Fund or Managing Owner by or on behalf of
the Distributor. In no case (i) is the indemnity of the Distributor in favor of any Indemnified Party to be deemed to protect any such party against any liability to which the Indemnified Party would otherwise be subject by reason of willful
misfeasance, bad faith or negligence in the performance of its duties or by reason of its reckless disregard of its obligations and duties under this Agreement, or (ii) is the Distributor to be liable under its indemnity agreement contained in this
paragraph with respect to any claim made against any Indemnified Party unless such Indemnified Party shall have notified the Distributor in writing of the claim promptly after the summons or other first written notification giving information of the
nature of the claim shall have been served upon such Indemnified Party (or after such Indemnified Party shall have received notice of service on any designated agent). However, failure to notify the Distributor of any claim shall not relieve the
Distributor from any liability which it may have to the Indemnified Party against whom the action is brought otherwise than on account of its indemnity agreement contained in this paragraph. In the case of any notice to the Distributor it shall be
entitled to participate, at its own expense, in the defense or, if it so elects, to assume the defense of any suit brought to enforce any claims, and if the Distributor elects to assume the defense, the defense shall be conducted by counsel chosen
by it and satisfactory to the Indemnified Party, to its officers and to any 

 
controlling person(s), or defendant(s) in the suit. In the event that the Distributor elects to assume the defense of any suit and retain counsel, the Indemnified Party or controlling person(s),
defendant(s) in the suit, shall bear the fees and expenses of any additional counsel retained by them. If the Distributor does not elect to assume the defense of any suit, it will reimburse the Indemnified Party, officers or controlling person(s) or
defendant(s) in the suit for the reasonable fees and expenses of any counsel retained by them. The Distributor agrees to notify the Indemnified Party promptly of the commencement of any litigation or proceeding against it in connection with the
Indemnified Party and sale of any of the Shares. 
 8. Supplemental Information — The Distributor and the Managing Owner, on behalf of each
Fund, shall regularly consult with each other regarding the Distributor’s performance of its obligations under this Agreement. In connection therewith, the Managing Owner, on behalf of each Fund shall submit to the Distributor at a reasonable
time in advance of filing with the SEC reasonably final copies of any amended or supplemented registration statement (including exhibits) under the Securities Act; provided, however, that nothing contained in this Agreement shall in
any way limit the Trust’s or any Fund’s right to file at any time such amendments to any registration statement and/or supplements to any prospectus or statement of additional information, of whatever character, as the Trust or such Fund
may deem advisable, such right being in all respects absolute and unconditional. 
 The Distributor acknowledges that the only information provided to it by
the Managing Owner, Trust and each Fund is that contained in the registration statement, the prospectus, the statement of additional information and reports and financial information referred to herein. Neither the Distributor nor any other
person is authorized by the Managing Owner to give any information or to make any representations, other than those contained in such documents. 
 9.
Term — This Agreement shall become effective as of the date first written above and shall continue until one year from such date and thereafter shall continue automatically for successive annual periods, provided that such continuance is
specifically approved (with respect to each individual Fund) at least annually by the Managing Owner. This Agreement is terminable, with respect to each individual Fund, without penalty on sixty (60) days’ written notice by the Managing Owner
or by the Distributor. This Agreement shall automatically terminate in the event of its assignment. 
 Upon the termination of this Agreement by any one or
more of the Funds, at the expense and direction of the applicable Fund, the Distributor shall transfer to such successor, as the applicable Fund shall specify all relevant books, records and other data established or maintained by the Distributor
for such Fund under this Agreement. 
 10. Notice — Any notice required or permitted to be given by any party to another party shall be deemed
sufficient if sent by (i) email or (ii) registered or certified mail, postage prepaid, addressed by the party giving notice to the other party at the last address furnished by the other party to the party giving notice: 

 if to the Trust, any Fund or the Managing Owner, at: 

Invesco PowerShares Capital Management LLC 

3500 Lacey Road, Suite 700 

Downers Grove, IL 60515 
 Attn:
Head of Legal 
 if to the Distributor at: 

11 Greenway Plaza, Suite 1000, 

Houston, TX 77046 
 Attn: General
Counsel 
 or such other email address as may be furnished by one party to the other. 

11. Confidential Information — The Distributor, its officers, directors, employees and agents will treat confidentially and as proprietary
information of each Fund, all records and other information relative to each Fund and to prior or present shareholders or to those persons or entities who respond to the Distributor’s inquiries concerning investment in a particular Fund, and
will not use such records and information for any purposes other than performance of its responsibilities and duties hereunder. If the Distributor is requested or required by, but not limited to, depositions, interrogatories, requests for
information or documents, subpoena, civil investigation, demand or other action, proceeding or process or as otherwise required by law, statute, regulation, writ, decree or the like to disclose such information, the Distributor will provide the
applicable Fund with prompt written notice of any such request or requirement so that particular Fund may seek an appropriate protective order or other appropriate remedy and/or waive compliance with this provision. If such order or other remedy is
not sought, or obtained, or waiver not received within a reasonable period following such notice, then the Distributor may without liability hereunder, disclose to the person, entity or agency requesting or requiring the information, that portion of
the information that is legally required in the reasonable opinion of the Distributor’s counsel. 
 12. Limitation of Liability — The
Distributor agrees that, pursuant to Section 3804(a) of the Delaware Statutory Trust Act, the liabilities of each Fund shall be limited such that (a) the debts, liabilities, obligations and expenses incurred, contracted for or otherwise existing and
relating to this Agreement with respect to a particular Fund shall be enforceable against the assets of that particular Fund only, and not against the assets of the Trust generally or the assets of any other Fund and (b) none of the debts,
liabilities, obligations and expenses incurred, contracted for, or otherwise existing and relating to this Agreement with respect to the Trust generally and any other Fund shall be enforceable against the assets of such particular Fund. The
Distributor further agrees that it shall not seek satisfaction of any such obligation from the shareholders, any individual shareholder, officer, representative or agent of the Trust or any Fund, nor shall the Distributor seek satisfaction of any
such obligation from the Managing Owner, its members, managers, directors or officers. 
 Obligations of the Trust or any Fund entered into in the name or
on behalf thereof by the Managing Owner, members managers, officers, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the Managing Owner, members, managers, or officers, representatives or
agents personally, but bind only the property of a particular Fund party to said obligation, and all persons dealing with such Fund must look solely to that Fund’s property for the enforcement of any claims against that Fund. 

13. Miscellaneous — Each party agrees to perform such further acts and execute such further documents as are necessary to effectuate the purposes
hereof. Except with respect to Paragraph 12 above, which shall be construed, interpreted, and enforced in accordance with and governed by the laws of the 

 
State of Delaware, this Agreement shall be construed, interpreted, and enforced in accordance with and governed by the laws of the State of Illinois. The captions in this Agreement are included
for convenience of reference only and in no way define or delimit any of the provisions hereof or otherwise affect their construction or effect. This Agreement may not be changed, waived, discharged or amended except by written instrument that shall
make specific reference to this Agreement and which shall be signed by the party against which enforcement of such change, waiver, discharge or amendment is sought. This Agreement may be executed simultaneously in two or more counterparts, each
of which taken together shall constitute one and the same instrument. 
 All activities by the Distributor and its agents and employees as distributor of
the Shares shall comply with all applicable laws, rules and regulations including, without limitation, all rules and regulations made or adopted by the SEC, FINRA or any securities association registered under the Exchange Act or futures association
registered under the Commodity Exchange Act, as amended. Should the Distributor, or any of its agents and employees, materially fail to maintain compliance with all applicable laws, rules and regulations to which it is subject, or otherwise lose its
status as a registered broker-dealer in good standing with FINRA, the Distributor agrees to promptly notify the Managing Owner. 
 All activities by the
Managing Owner and its agents and employees as distributor of the Shares shall comply with all applicable laws, rules and regulations including, without limitation, all rules and regulations made or adopted by the SEC, CFTC or any securities
association registered under the Exchange Act or futures association registered under the Commodity Exchange Act, as amended. Should the Managing Owner, or any of its agents and employees, materially fail to maintain compliance with all applicable
laws, rules and regulations to which it is subject, or otherwise lose its status as a commodity pool operator in good standing with the CFTC, the Managing Owner agrees to promptly notify the Distributor. 

Remainder of page intentionally left blank. Signature page follows. 

 IN WITNESS WHEREOF, each of the undersigned have executed this instrument in its name and
behalf, and the Distributor has executed this instrument in its name and behalf, as of the date and year first above written. 
  

			
	 POWERSHARES DB US DOLLAR INDEX

TRUST

	 By: INVESCO POWERSHARES CAPITAL MANAGEMENT LLC,

	 as Managing Owner of PowerShares DB

US Dollar Index Trust

 
			
		
	By:	 	/s/ Daniel E. Draper
	Name:	 	Daniel E. Draper
	Title:	 	Chief Executive Officer

 
			
	
	 POWERSHARES DB US DOLLAR INDEX

TRUST WITH RESPECT ONLY TO
 POWERSHARES DB US DOLLAR
INDEX
 BULLISH FUND
 By:
INVESCO POWERSHARES CAPITAL MANAGEMENT LLC,
 as Managing Owner of PowerShares DB

US Dollar Index Bullish Fund

 
			
		
	By:	 	/s/ Daniel E. Draper
	Name:	 	Daniel E. Draper
	Title:	 	Chief Executive Officer

 
			
	
	 POWERSHARES DB US DOLLAR INDEX TRUST WITH RESPECT ONLY TO POWERSHARES DB US DOLLAR INDEX BEARISH FUND

By: INVESCO POWERSHARES CAPITAL MANAGEMENT LLC

as Managing Owner of PowerShares DB

US Dollar Index Bearish Fund

 
			
		
	By:	 	/s/ Daniel E. Draper
	Name:	 	Daniel E. Draper
	Title:	 	Chief Executive Officer

 
			
	
	 INVESCO DISTRIBUTORS,
INC.

 
			
		
	By:	 	/s/ Brian Thorp
	Name:	 	Brian Thorp
	Title:	 	Vice President

 
			
	INVESCO POWERSHARES CAPITAL MANAGEMENT LLC

 
			
		
	By:	 	/s/ Daniel E. Draper
	Name:	 	Daniel E. Draper
	Title:	 	Chief Executive Officer

 Schedule A 

List of Funds 
 Dated as of
June 20, 2016 
 PowerShares DB US Dollar Index Bullish Fund 

PowerShares DB US Dollar Index Bearish Fund 

 Schedule B 

List of Services for Each Fund 

Effective as of June 20, 2016 
  

	•	 	Review distribution related legal documents and contracts. 

  

	•	 	Consult with sponsor’s marketing staff on development of FINRA compliant marketing campaigns. 

  

	•	 	Review and file all marketing materials (including internet sites) with FINRA. 

  

	•	 	Consult with sponsor on marketing/sales strategy. 

  

	•	 	800 line telephone servicing. 

  

	•	 	Maintain books and records in respect of the Fund that relate to the services provided pursuant to this Agreement 

  

	•	 	Perform such additional marketing and distribution related services as may be agreed among the parties from time-to-time. 

 Schedule C 

Pursuant to Section 4(a) 
 In
consideration of the services to be provided by the Distributor under and pursuant to this Agreement, Managing Owner shall pay to the Distributor a reimbursement for actual costs associated with the Distributor performing the services provided
herein, with such compensation to be capped at $25,000 per Fund annually. Distributor’s compensation will be paid quarterly in arrears on the last business day of each calendar quarter and prorated for partial quarters in the event the
Distribution Services Agreement becomes effective on a date that is not the first day of a calendar quarter or is terminated on a date that is not the last day of a calendar quarter.EXHIBIT 10.1

 

 

 

SEPARATION AGREEMENT AND RELEASE
OF CLAIMS

 

This Separation Agreement
and Release of Claims (this "Agreement") is entered into by and between Endocyte, Inc. ("Endocyte"),
and P. Ron Ellis ("Ellis") (together, the "Parties") and will become effective on the date that
is eight days after Ellis has executed and not revoked this Agreement (the “Effective Date”).

 

Recitals

 

A.               
Ellis has tendered his resignation as an employee, officer and director of Endocyte.

 

B.                
Ellis and Endocyte have entered into the Change in Control and Severance Agreement, dated May 15, 2015 (the “Severance
Agreement”), under which Ellis is entitled to severance benefits under certain circumstances. The Parties have agreed
to modify those benefits in accordance with this Agreement.

 

Agreement

 

In consideration of the
foregoing and the following mutual undertakings, and subject to the terms and conditions of this Agreement, the Parties agree as
follows:

 

1.                 
Severance Benefits. Subject to the effectiveness of this Agreement and to the terms and conditions of this Agreement
and the Severance Agreement, Endocyte will:

 

(a)Within
30 days following the Effective Date, pay Ellis the sum of (i) $760,644 (equal to 150% of his current annualized base salary),
plus (ii) $152,129 (equal to 50% of his target bonus for 2016), plus (iii) $31,944 (equal to 12 months of COBRA payments as provided
for in the Severance Agreement), in each case less applicable tax withholdings;

 

(b)Accelerate
(as of immediately prior to Ellis’s termination of employment) the vesting of the portion of each of Ellis’s stock
option awards and restricted stock unit awards that, but for the termination of employment, would have vested on or before February
15, 2018; and

 

(c)Amend
the award agreement governing each of Ellis’s outstanding stock option awards to permit the exercise of the vested portion
of such option at any time up to the earlier of (i) June 15, 2019, or (ii) the expiration date of such option.

 

2.                 
Acknowledgements. Ellis acknowledges and agrees that:

 

(a)the
consideration, payments and benefits to be provided pursuant to Section 1 of this Agreement (i) have a greater value to Ellis than
those to which he otherwise would be entitled pursuant to the Severance Agreement, and the deviations from the precise terms of
the Severance Agreement have been agreed upon by the Parties at Ellis’s request; and (ii) will be deemed rescinded, void
and of no effect if this Agreement has not become effective within 60 days after it is first provided to Ellis as stated in Section
9(a) below;

 

 

 

Ellis’s Initials ______

    	 	1	 

     

    

 

 

(b)in connection
with his exercise of stock options and/or sale of option shares or RSU shares, he is relying on his own tax advisor; and

 

(c)upon
his receipt of the consideration, payments and benefits set forth in Section 1 of this Agreement, Endocyte will have fully discharged
its obligations to him pursuant to the Severance Agreement and otherwise in connection with his employment with, and service to,
Endocyte.

 

3.                 
Release. In consideration for, and as a condition to, his receipt of the benefits provided herein and in the Severance
Agreement:

 

(a)To the
fullest extent permitted by law, Ellis hereby irrevocably and unconditionally releases, discharges and covenants not to sue Endocyte
and its Representatives (as defined below) from and with respect to all claims, actions, costs and expenses, known or unknown,
that Ellis has or may have as of the Effective Date, except for (i) his rights under this Agreement, (ii) his rights under the
award agreements and plans governing his stock options and restricted stock units, (iii) his rights to indemnification under Endocyte’s
Certificate of Incorporation and By-Laws and to coverage under Endocyte’s D&O insurance policies, and (iv) his rights
as a stockholder (collectively, the “Preserved Rights”). Nothing in this Agreement shall constitute or be construed
as a waiver of future claims or a waiver of Ellis’s right to file a charge with the U.S. Equal Employment Opportunity
Commission or its state or local counterparts or to participate in an investigation of any such charge. However, Ellis does release
to the fullest extent permitted by law his right to file a court action and to seek or to accept individual remedies or damages
in any action filed on his behalf, and this release shall apply with full force and effect to any proceeding arising from or relating
to such recourse including, but not limited to, the right to monetary damages or other individual legal or equitable relief.

 

(b)For
the avoidance of doubt, this release shall be construed as broadly as lawfully possible and is intended, to the fullest extent
permitted by law, to include all claims that Ellis may have against Endocyte and any of its Representatives as of the Effective
Date other than the Preserved Rights, including those arising (i) from his service as an employee, officer and director of Endocyte
(or from the termination of such service), (ii) under any federal, state or local law (including anti-discrimination laws such
as the Age Discrimination in Employment Act), (iii) under any contract or agreement between Ellis and Endocyte, including the Severance
Agreement, and (iv) under any legal theory, including contract, tort or common law.

 

(c)The
“Representatives” of Endocyte to which the foregoing release extends include all of its officers, directors,
employees, agents, representatives, stockholders, benefit plans and programs (except with respect to any vested retirement benefits),
trusts, trustees, administrators, fiduciaries, insurers, attorneys and assigns, and all persons acting by, through, under, or in
concert with any of the foregoing entities or individuals.

 

 

 

Ellis’s Initials ______

    	 	2	 

     

    

 

(d)Ellis
represents and warrants that he has not commenced an action of any kind in any forum against Endocyte or any of its Representatives.

 

(e)Endocyte
hereby irrevocably and unconditionally releases, discharges and covenants not to sue Ellis, his estate and his heirs from and with
respect to all claims, actions, costs and expenses, known or unknown, that Endocyte has or may have as of the Effective Date; provided,
however, that the foregoing release does not extend to (i) Endocyte’s rights and Ellis’s obligations under this Agreement,
the Severance Agreement and the Surviving Covenants (as defined in Section 8(b) below), or (ii) any claims that cannot by law be
released through this Agreement.

 

(f)This
Agreement does not constitute an admission by either Party that such Party has violated any law or committed any wrongful act,
and each Party specifically denies having done so. This Agreement may not be introduced into evidence or relied upon in legal proceedings
except proceedings regarding breach of the terms of this Agreement or in defending legal claims.

 

4.                 
Confidentiality. Except as otherwise required by law, Ellis will not disclose any of the terms of this Agreement
to anyone other than (a) his spouse or professional advisors who agree to maintain the confidentiality of such terms, or (b) the
Equal Employment Opportunity Commission or any comparable state or local agency.

 

5.                 
Return of Property. Ellis will return promptly to Endocyte all of Endocyte's property, documents and materials in
Ellis’s possession or subject to Ellis’s control, including equipment, computers and electronic devices, access cards,
keys, manuals, and written literature (including electronically stored data in any form). Ellis affirms that he has not and will
not alter, destroy, remove, or inappropriately limit Endocyte's access to its records or documents.

 

6.                 
Non-Disparagement. Neither Ellis nor Endocyte shall make false, negative or disparaging statements about the other
Party (or, in the case of Ellis, about Endocyte's Representatives, management, policies, practices or services) to any other person
or entity, except as may be legally required.

 

7.                 
Consulting. In consideration for the payments and benefits provided pursuant to Section 1 above, and without additional
compensation, for a period of 90 days following the Effective Date, Ellis will provide advice and assistance, in the capacity of
a consultant, with respect to Endocyte’s operations and other matters within his experience and expertise, as requested by
Endocyte’s successor CEO; provided that Ellis’s consulting services hereunder will not unreasonably interfere with
any new employment he undertakes (or with his efforts to secure such new employment). Ellis will have no authority or responsibilities
other than to respond to reasonable requests for advice and assistance from the successor CEO. He will interact exclusively with
the successor CEO except as otherwise requested by the successor CEO.

 

 

 

Ellis’s Initials ______

    	 	3	 

     

    

 

8.                 
Miscellaneous.

 

(a)This
Agreement and the Severance Agreement contain the entire agreement between the Parties relating to the matters addressed in this
Agreement and Ellis acknowledges that he is not relying on any oral or written representations, statements, promises, or other
inducements made by Endocyte or its Representatives except those expressly stated in this Agreement.

 

(b)This
Agreement supersedes all prior written or oral negotiations, representations, or understandings relating to the matters addressed
in this Agreement unless otherwise preserved in this Agreement. However, all intellectual property assignment, dispute resolution,
restrictive stock transfer, voting, right of first refusal, lock up, confidentiality, nondisclosure, non-compete, non-solicitation
and other post-employment restrictions and covenants that apply to Ellis by virtue of the Severance Agreement, his employment with
Endocyte, Endocyte's plans, policies, and practices, or other prior agreements, statutes or common law (collectively, the “Surviving
Covenants”) remain in full force and effect and are not in any way affected, diminished or superseded by this Agreement.
Furthermore, this Agreement does not affect Ellis’s legal obligation to protect the confidentiality of Endocyte's information,
including but not limited to personnel and personal (including medical) information, research, trade secrets, proprietary information,
business plans and models, and financial data that Ellis obtained in connection with his employment with Endocyte.

 

(c)This
Agreement can only be amended or modified by a writing signed by both Parties.

 

(d)A court
of competent jurisdiction's declaration that any portion of this Agreement is illegal or unenforceable will not affect the legality,
enforceability, or validity of the remainder of this Agreement so long as the economic or legal substance this Agreement contemplates
is not affected in any manner materially adverse to any Party.

 

(e)This
Agreement will be binding upon and inure to the benefit of the Parties' heirs, personal representatives, successors and assigns.

 

(f)This
Agreement will be construed and enforced in accordance with Indiana law without regard to conflict of laws principles. Any legal
action relating to this Agreement will be commenced and maintained exclusively before an appropriate state or federal court of
record in Indiana. The Parties will submit to the jurisdiction of those courts and waive any right to challenge personal jurisdiction
or venue in any action commenced or maintained in those courts.

 

 

 

Ellis’s Initials ______

    	 	4	 

     

    

 

 

(g)This
Agreement may be executed in counterparts or using facsimile or electronic signatures, each of which will have the same force and
effect as original signatures.

 

(h)Neither
Party shall be deemed to be the drafter of this Agreement, which will be interpreted and construed without presumption or inference
based upon or against the Party responsible for its drafting.

 

(i)Ellis
acknowledges that he has had a reasonable opportunity to read and discuss all aspects of this Agreement with counsel, fully understands
all provisions of it, and is entering into this Agreement voluntarily and entirely of his own free will under no duress or coercion.

 

(j)The
Recitals are an integral part of this Agreement and specifically are incorporated by reference.

 

9.                 
Ellis acknowledges and agrees that:

 

(a)Endocyte
provided him this Agreement on June 15, 2016;

 

(b)Endocyte
advised him at that time to consult an attorney prior to signing this Agreement;

 

(c)He
is permitted a minimum of 21 days to accept Endocyte’s offer by signing this Agreement, and that, if discussions between
the Parties result in any changes to this Agreement before it is signed, the 21-day period will not be restarted; and

 

(d)Endocyte
informed him that (i) this Agreement will not be effective or enforceable against either Party if Ellis revokes it by giving written
notice of revocation to Katherine Parker at Endocyte, which notice must be received by Ms. Parker not later than seven days after
Ellis signs the Agreement, and (ii) if not revoked, this Agreement will become binding and enforceable on the eighth day following
Ellis’s execution hereof.

 

In order to evidence
their agreement to the foregoing, the Parties have executed this Agreement on the dates stated below.

 

 

	 	 	Endocyte, Inc.	 
	 	 	 	 	 
	/s/ P. Ron Ellis	 	By:	/s/ Mike Sherman	 
	P. Ron Ellis	 	Name:	Mike Sherman	 
	 	 	Title:	CEO	 
	 	 	 	 	 
	Date: 6/16/16	 	Date:	June 16, 2016	 

 

 

 

Ellis’s Initials ______

    	 	5

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00259-of-00352.parquet"}]]