Document:

Exhibit 10.1

 

EXOSOME SCIENCES, INC.

STOCK PURCHASE AGREEMENT

 

This Stock Purchase Agreement (the “Agreement”)
is made as of November ___, 2013 by and among Exosome Sciences, Inc., a Nevada corporation (the “Company”),
and the purchasers listed on Exhibit A attached hereto (each a “Purchaser” and together the “Purchasers”).

 

The parties hereby agree as follows:

 

1.       Purchase
and Sale of Common Stock.

 

1.1       Sale
and Issuance of Common Stock. Subject to the terms and conditions of this Agreement,
each Purchaser agrees, severally and not jointly, to purchase at the Initial Closing and the Company agrees to sell and issue to
each Purchaser at the Initial Closing that number of shares of the Company’s common stock, par value $.001 per share (the
“Common Stock”), set forth opposite each such Purchaser’s name on Exhibit A at a purchase price of $5.00 per
share. The shares of Common Stock issued to the Purchasers pursuant to this Agreement (including any shares issued at the Initial
Closing and any Additional Shares, as defined below), shall be referred to in this Agreement as the “Stock.” The Company
may sell up to an aggregate of 300,000 shares of Stock (the “Offered Stock”) pursuant to this Agreement. The minimum
investment amount per Purchaser is $20,000. 

 

1.2       Closing;
Delivery.

 

(a)       The
purchase and sale of the Stock shall take place remotely via the exchange of documents and signatures,
at 1:00 p.m. (Pacific Time), on the date hereof, or at such other time and place as the Company and the Purchasers mutually agree
upon, orally or in writing (which time and place are designated as the “Initial Closing”; each of the Initial
Closing and each Additional Closing (as defined below) may be referred to herein as a “Closing”).

 

(b)       At
each Closing, the Company shall deliver to each Purchaser a certificate representing the Stock being purchased by such Purchaser
against payment of the purchase price therefor by check payable to the Company or by wire transfer to a bank account designated
by the Company.

 

1.3       Subsequent
Sales of Stock. At any time following the Initial Closing but no later than December
31, 2013, which date may be extended in the Company’s sole discretion, the Company may sell up to the balance of the Offered
Stock not sold at the Initial Closing to such persons as may be approved by the Company (the “Additional Purchasers”).
All such sales made at any additional closings (each an “Additional Closing”)
shall be made on the terms and conditions set forth in this Agreement, and (i) the representations and warranties of the Company
set forth in Section 2 hereof (and the Disclosure Schedule) shall speak as of the Initial Closing and the Company shall have no
obligation to update any such disclosure, and (ii) the representations and warranties of the Additional Purchasers in Section
3 hereof shall speak as of such Additional Closing. The Schedule of Purchasers may be amended by the Company without the consent
of the Purchasers to include any Additional Purchasers upon the execution by such Additional Purchasers of a counterpart signature
page hereto. Any shares of Stock sold pursuant to this Section 1.3 shall be deemed to be “Stock” for all purposes
under this Agreement and any Additional Purchasers thereof shall be deemed to be “Purchasers” for all purposes under
this Agreement. 

 

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1.4       Defined
Terms Used in this Agreement. In addition to the terms defined above, the following terms used in this Agreement shall be
construed to have the meanings set forth or referenced below.

 

“Affiliate” means, with
respect to any specified Person, any other Person who, directly or indirectly, controls, is controlled by, or is under common control
with such Person, including, without limitation, any general partner, managing member, officer or director of such Person or any
venture capital fund now or hereafter existing that is controlled by one or more general partners or managing members of, or shares
the same management company with, such Person.

 

“Material Adverse Effect”
means a material adverse effect on the business, assets (including intangible assets), liabilities, financial condition, property
or results of operation of the Company.

 

“Person” means any individual,
corporation, partnership, trust, limited liability company, association or other entity.

 

“Securities Act” means
the Securities Act of 1933, as amended.

 

2.       Representations
and Warranties of the Company.
The Company hereby represents and warrants to each Purchaser that, except
as set forth on a Disclosure Schedule delivered separately by the Company to each Purchaser, which exceptions shall be deemed
to be representations and warranties as if made hereunder, the following representations are true and complete as of the date
of the Initial Closing, except as otherwise indicated. 

 

For purposes of these representations and
warranties, the phrase “to the Company’s knowledge” shall mean the actual knowledge, after reasonable
investigation, of James A. Joyce.

 

2.1       Organization,
Good Standing and Qualification. The
Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Nevada and has all
requisite corporate power and authority to carry on its business as presently conducted and as currently proposed to be conducted.
The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure so to qualify
would have a Material Adverse Effect.

 

2.2       Capitalization.
The authorized capital of the Company consists, or will consist, immediately
prior to the Initial Closing, of: 

 

(a)       20,000,000
shares of Common Stock, 1,200,000 shares of which are issued and outstanding immediately prior to the Initial Closing. All of the
outstanding shares of Common Stock have been duly authorized, are fully paid and nonassessable and were issued in compliance with
the Securities Act and all applicable state securities laws.

 

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(b)       Except
for the Stock, there are no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first
refusal or similar rights) or agreements, orally or in writing, for the purchase or acquisition from the Company of any shares
of its capital stock. No stock plan, stock purchase, stock option or other agreement between the Company and any holder of equity
securities or rights to purchase equity securities provides for acceleration of vesting, or the lapse of a Company repurchase right,
upon the occurrence of any event. The Company has never adjusted or amended the exercise price of any stock options previously
awarded, whether through amendment, cancellation, replacement grant, repricing, or any other means.

 

2.3       Subsidiaries.
The Company does not currently own or control, directly or indirectly,
any interest in any other corporation, partnership, trust, joint venture, limited liability company, association or other business
entity. The Company is not a participant in any joint venture, partnership or similar arrangement.

 

2.4       Authorization.
All corporate action on the part of the Company and its officers, directors
and stockholders necessary for the authorization, execution and delivery of this Agreement, the performance of all obligations
of the Company hereunder and the authorization, issuance and delivery of the Stock has been taken or will be taken prior to the
Initial Closing, and this Agreement, when executed and delivered by the Company, shall constitute the valid and legally binding
obligation of the Company, enforceable against the Company in accordance with its terms except (a) as limited by applicable bankruptcy,
insolvency, reorganization, moratorium, fraudulent conveyance, or other laws of general application relating to or affecting the
enforcement of creditors’ rights generally, or (b) as limited by laws relating to the availability of specific performance,
injunctive relief, or other equitable remedies.

 

2.5       Valid
Issuance of Securities. The
Stock, when issued, sold and delivered in accordance with the terms of this Agreement for the consideration expressed herein,
will be duly and validly issued, fully paid and nonassessable and free of liens, encumbrances and restrictions on transfer other
than restrictions on transfer under this Agreement, applicable state and federal securities laws and liens or encumbrances created
by or imposed by a Purchaser. Based in part upon the representations of the Purchasers in Section 3 of this Agreement and subject
to the provisions of Section 2.6 below, the Stock will be issued in compliance with the Securities Act and all applicable federal
and state securities laws. The sale of the Stock is not subject to any preemptive rights or rights of first refusal that have
not been properly waived or complied with.

 

2.6       Governmental
Consents and Filings. Assuming
the accuracy of the representations made by the Purchasers in Section 3 of this Agreement, no consent, approval, order or authorization
of, or registration, qualification, designation, declaration or filing with, any federal, state or local governmental authority
is required on the part of the Company in connection with the consummation of the transactions contemplated by this Agreement,
except for filings pursuant to Regulation D of the Securities Act, and applicable state securities laws, which have been made
or will be made in a timely manner.

 

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2.7       Litigation.
There is no claim, action, suit, proceeding, arbitration, complaint, charge
or investigation pending or, to the Company’s knowledge, currently threatened against the Company that questions the validity
of this Agreement or the right of the Company to enter into it, or to consummate the transactions contemplated hereby, or that
would reasonably be expected to cause, either individually or in the aggregate, a Material Adverse Effect. Neither the Company
nor, to the Company’s knowledge, any of its officers or directors, is a party or is named as subject to the provisions of
any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action, suit,
proceeding or investigation by the Company pending or which the Company intends to initiate. The foregoing includes, without limitation,
claims, actions, suits, proceedings or investigations pending or threatened in writing (or any basis therefor known to the Company)
involving the prior employment of any of the Company’s employees, their use in connection with the Company’s business,
or any information or techniques allegedly proprietary to any of their former employers, or their obligations under any agreements
with prior employers. 

 

2.8       Intellectual
Property. To the Company’s knowledge, the Company
owns or possesses sufficient legal rights to all trademarks, service marks, trade names, domain names, copyrights, trade secrets,
licenses, information and proprietary rights and processes and all patents necessary to the conduct of the Company’s business
as now conducted and as currently proposed to be conducted, without any conflict with, or infringement of or violation of, the
rights of others. Section 2.8 of the Disclosure Schedule contains a complete list of patents and pending patent applications and
registrations and applications for trademarks of the Company. There are no outstanding options, licenses, agreements, claims,
encumbrances or shared ownership interests of any kind relating to any of the foregoing owned by or exclusively licensed to the
Company, nor is the Company bound by or a party to any options, licenses or agreements of any kind with respect to the patents,
trademarks, service marks, trade names, domain names, copyrights, trade secrets, licenses, information, proprietary rights and/or
processes of any other person or entity, except, in either case, for standard end-user, object code, internal-use software license
and related support/maintenance agreements for software that is not and will not be incorporated into, the Company’s software,
products or services. The Company has not received any communications alleging that the Company has violated or, by conducting
its business as proposed, would violate any of the patents, trademarks, service marks, trade names, domain names, copyrights,
trade secrets or other proprietary rights or processes of any other person or entity, and the Company is not aware of any potential
basis for such an allegation or of any reason to believe that such an allegation may be forthcoming. The Company is not aware
that any of its employees is obligated under any contract (including licenses, covenants or commitments of any nature) or other
agreement, or subject to any judgment, decree or order of any court or administrative agency, that would interfere with the use
of such employee’s best efforts to promote the interest of the Company or that would conflict with the Company’s business
as now conducted and as currently proposed to be conducted. Neither the execution or delivery or performance of this Agreement,
nor the carrying on of the Company’s business by the employees of the Company, nor the conduct of the Company’s business
as proposed, will, to the Company’s knowledge, conflict with or result in a breach of the terms, conditions, or provisions
of, or constitute a default under, any contract, covenant or instrument under which any such employee is now obligated. The Company
does not believe it is or will be necessary to use any inventions of any of its employees made prior to or outside the scope of
their employment by the Company.

 

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2.9       Compliance
with Other Instruments. The
Company is not in violation or default (i) of any provisions of its Articles of Incorporation or Bylaws, or (ii) of any instrument,
judgment, order, writ, or decree, or under any note, indenture, mortgage, lease, agreement, contract or purchase order to which
it is a party or by which it is bound or, (iii) to its knowledge, of any provision of federal or state statute, rule or regulation
applicable to the Company, and with respect to the foregoing subsections (ii) and (iii) only, the violation of which could reasonably
be expected to have a Material Adverse Effect. The execution, delivery and performance of this Agreement and the consummation
of the transactions contemplated hereby will not result in any such violation or be in conflict with or constitute, with or without
the passage of time and giving of notice, either a default under any such provision, instrument, judgment, order, writ, decree
or contract or an event which results in the creation of any lien, charge or encumbrance upon any assets of the Company or the
suspension, revocation, impairment, forfeiture or nonrenewal of any material permit, license, authorization or approval applicable
to the Company.

 

2.10       Agreements;
Actions.

 

(a)       Except
for this Agreement or as set forth in Section 2.10(a) of the Disclosure Schedule, there are no agreements, understandings, instruments,
contracts or proposed transactions to which the Company is a party or by which it is bound that involve (i) obligations (contingent
or otherwise) of, or payments to, the Company in excess of $50,000, (ii) the license of any patent, copyright, trade secret or
other proprietary right to or from the Company other than the non-exclusive license to the Company of standard, generally commercially
available “off-the-shelf” third-party products that are not and will not be incorporated into the Company’s
products, (iii) the grant of rights to manufacture, produce, assemble, license, market, or sell its products to any other person
or affect the Company’s exclusive right to develop, manufacture, assemble, distribute, market or sell its products, or (iv)
indemnification by the Company with respect to infringements of proprietary rights, except in the ordinary course of business pursuant
to standard end-user agreements.

 

(b)       Except
as set forth in Section 2.10(b) of the Disclosure Schedule, the Company has not (i) declared or paid any dividends, or authorized
or made any distribution upon or with respect to any class or series of its capital stock, (ii) incurred any indebtedness for money
borrowed or incurred any other liabilities individually in excess of $25,000 or in excess of $100,000 in the aggregate, (iii) made
any loans or advances to any person, other than ordinary advances for travel expenses, or (iv) sold, exchanged or otherwise disposed
of any of its assets or rights, other than the sale of its inventory in the ordinary course of business. For the purposes of subsections
(b) and (c) of this Section 2.10, all indebtedness, liabilities, agreements, understandings, instruments, contracts and proposed
transactions involving the same person or entity (including persons or entities the Company has reason to believe are affiliated
with that person or entity) shall be aggregated for the purposes of meeting the individual minimum dollar amounts of each such
subsection.

 

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(c) The Company is not a guarantor or indemnitor
of any indebtedness of any person.

 

(d) The Company has not engaged in the past
three months in any discussion with any representative of any Person regarding (i) a sale of all or substantially all of the Company’s
assets, or (ii) any merger, consolidation or other business combination transaction of the Company with or into another Person.

 

2.11       Certain
Transactions. 

 

(a)       Except
as set forth in Section 2.11(a) of the Disclosure Schedule, there are no agreements, understandings or proposed transactions between
the Company and any of its officers, directors or consultants, or any of its or their Affiliates.

 

(b)       The
Company is not indebted, directly or indirectly, to any of its directors, officers or employees or to their respective spouses
or children or to any Affiliate of any of the foregoing. None of the Company’s directors, officers or employees, or any members
of their immediate families, or any Affiliate of the foregoing are, directly or indirectly, indebted to the Company or, to the
Company’s knowledge, have any (i) material commercial, industrial, banking, consulting, legal, accounting, charitable or
familial relationship with any of the Company’s customers, suppliers, service providers, joint venture partners, licensees
and competitors, (ii) direct or indirect ownership interest in any firm or corporation with which the Company is affiliated or
with which the Company has a business relationship, or any firm or corporation which competes with the Company except that directors,
officers, employees or stockholders of the Company may own stock in (but not exceeding two percent (2%) of the outstanding capital
stock of) publicly traded companies that may compete with the Company; or (iii) financial interest in any material contract with
the Company.

 

2.12       Title
to Property and Assets. The
Company owns its property and assets free and clear of all mortgages, deeds of trust, liens, loans and encumbrances, except for
statutory liens for the payment of current taxes that are not yet delinquent and encumbrances and liens that arise in the ordinary
course of business and do not materially impair the Company’s ownership or use of such property or assets. With respect
to the property and assets it leases, the Company is in compliance with such leases and, to its knowledge, holds a valid leasehold
interest free of any liens, claims or encumbrances other than to the lessors of such property or assets. The Company does not
own any real property.

 

2.13       Financial
Statements. The Company
has not prepared any balance sheet, income statement, statement of operations, statement of changes in financial position and
stockholders’ equity or other financial statement. Except as set forth in Section 2.13 of the Disclosure Schedule, the Company
has no material liabilities, contingent or otherwise, other than (a) liabilities incurred after the date of incorporation in the
ordinary course of business that are not material, individually or in the aggregate, and (b) obligations under contracts and commitments
incurred in the ordinary course of business which would not be required under generally accepted accounting principles to be reflected
in financial statements prepared in accordance with generally accepted accounting principles. 

 

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2.14       Employee
Benefit Plans. The Disclosure
Schedule sets forth all employee benefit plans maintained, established or sponsored by the Company, or in or to which the Company
participates or contributes, which are subject to the Employee Retirement Income Security Act of 1974, as amended (“ERISA”).
The Company has made all required contributions and has no liability to any such employee benefit plan, other than liability for
health plan continuation coverage described in Part 6 of Title I(B) of ERISA, and has complied with all applicable laws for any
such employee benefit plan.

 

2.15       Tax
Returns and Payments. There are no federal, state, county, local or foreign taxes due and payable by the Company which have
not been timely paid. There are no accrued and unpaid federal, state, county, local or foreign taxes of the Company which are
due, whether or not assessed or disputed. There have been no examinations or audits of any tax returns or reports of the Company
by any applicable federal, state, local or foreign governmental agency. The Company has duly and timely filed all federal, state,
county, local and foreign tax returns required to have been filed by it and there are in effect no waivers of applicable statutes
of limitations with respect to taxes for any year.

 

2.16       Insurance.
The Company has in full force and effect fire and casualty insurance
policies, with extended coverage, sufficient in amount (subject to reasonable deductibles) to allow it to replace any of its properties
that might be damaged or destroyed.

 

2.17       Labor
Agreements and Actions. The
Company is not bound by or subject to (and none of its assets or properties is bound by or subject to) any written or oral, express
or implied, contract, commitment or arrangement with any labor union, and no labor union has requested or, to the Company’s
knowledge, has sought to represent any of the employees, representatives or agents of the Company. There is no strike or other
labor dispute involving the Company pending, or to the Company’s knowledge threatened, which could have a Material Adverse
Effect, nor is the Company aware of any labor organization activity involving its employees. The Company is not aware that any
officer or key employee intends to terminate their employment with the Company, nor does the Company have any present intention
to terminate the employment of any officer or key employee. The employment of each officer and employee of the Company is terminable
at the will of the Company. To its knowledge, the Company has complied in all material respects with all applicable state and
federal equal employment opportunity laws and with other laws related to employment. The Company is not a party to or bound by
any deferred compensation agreement, bonus plan, incentive plan, profit sharing plan, or retirement agreement. The Company is
not obligated to pay severance or any other additional compensation upon the termination of any director, officer, consultant
or employee.

 

2.18       Permits.
The Company has all franchises, permits, licenses and any similar authority
necessary for the conduct of its business, the lack of which could have a Material Adverse Effect, and the Company believes it
can obtain, without undue burden or expense, any similar authority for the conduct of its business as proposed. The Company is
not in default in any material respect under any of such franchises, permits, licenses or other similar authority.

 

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2.19       Corporate
Documents. The
Articles of Incorporation and Bylaws of the Company are in the form provided to counsel for the Purchasers. The copy of the minute
books of the Company provided to the Purchasers’ counsel contains minutes of all meetings of directors and stockholders and
all actions by written consent without a meeting by the directors and stockholders since the date of incorporation and accurately
reflects in all material respects all actions by the directors (and any committee of directors) and stockholders with respect to
all transactions referred to in such minutes.

 

2.20       Disclosure.
The Company has made available to each Purchaser all the information reasonably
available to the Company that such Purchaser has requested for deciding whether to purchase the Stock. No representation or warranty
of the Company contained in this Agreement, as qualified by the Disclosure Schedule, or in any certificate furnished or to be furnished
to a Purchaser at the Closing contains any untrue statement of a material fact or omits to state a material fact necessary to make
the statements herein or therein not misleading in light of the circumstances under which they were made.

 

3.       Representations
and Warranties of the Purchasers. Each
Purchaser, severally and not jointly, hereby represents and warrants to the Company that:

 

3.1       Authorization.
The Purchaser has full power and authority to enter into this Agreement.
This Agreement, when executed and delivered by the Purchaser, will constitute the valid and legally binding obligation of the Purchaser,
enforceable in accordance with its terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance, and any other laws of general application relating to or affecting enforcement of creditors’ rights
generally, and (b) as limited by laws relating to the availability of a specific performance, injunctive relief, or other equitable
remedies.

 

3.2       Purchase
Entirely for Own Account. This
Agreement is made with the Purchaser in reliance upon the Purchaser’s representation to the Company, which by the Purchaser’s
execution of this Agreement the Purchaser hereby confirms, that the Stock to be acquired by the Purchaser will be acquired for
investment for the Purchaser’s own account, not as a nominee or agent, and not with a view to the resale or distribution
of any part thereof, and that the Purchaser has no present intention of selling, granting any participation in, or otherwise distributing
the same. By executing this Agreement, the Purchaser further represents that the Purchaser does not presently have any contract,
undertaking, agreement or arrangement with any Person to sell, transfer or grant participations to such Person or to any third
Person, with respect to any of the Stock. If the Purchaser is a corporation, partnership or other entity, such Purchaser has not
been formed for the specific purpose of acquiring the Stock.

 

3.3       Disclosure
of Information. The
Purchaser believes it has received all information it considers necessary or appropriate for deciding whether to purchase the Stock.
The Purchaser has had an opportunity to ask questions and receive answers from the Company regarding the terms and conditions of
the offering of the Stock and the business, properties, prospects and financial condition of the Company. The foregoing, however,
does not limit or modify the representations and warranties of the Company in Section 2 of this Agreement or the right of the Purchasers
to rely on such representations and warranties.

 

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3.4       Restricted
Securities. The Purchaser understands that the Stock will be characterized as “restricted
securities” under the federal securities laws, inasmuch as it is being acquired from the Company in a transaction not involving
a public offering, and that under such laws and applicable regulations such Stock may not be resold without registration under
the Securities Act, except in certain limited circumstances. In this connection, the Purchaser represents that it is familiar with
Rule 144 promulgated under the Securities Act, as presently in effect, and understands the resale limitations imposed thereby and
by the Securities Act. The Purchaser acknowledges that the Company has no obligation to register or qualify the Stock for resale.
The Purchaser further acknowledges that if an exemption from registration or qualification is available, it may be conditioned
on various requirements including, but not limited to, the time and manner of sale, the holding period for the Stock, and on requirements
relating to the Company that are outside the Purchaser’s control, and which the Company is under no obligation and may not
be able to satisfy.

 

3.5       No
Public Market.  The
Purchaser understands that no public market now exists for the Stock, and that the Company has made no assurances that a public
market will ever exist for the Stock.

 

3.6       Legends.
The Purchaser understands that any certificates representing
the Stock and any securities issued in respect of or exchange for the Stock, may bear one or all of the following legends:

 

(a)       
“THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AND HAVE BEEN ACQUIRED
FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH, THE SALE OR DISTRIBUTION THEREOF. NO SUCH SALE OR DISTRIBUTION MAY
BE EFFECTED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.”

 

(b)       Any
legend set forth in or required by any other section of this Agreement.

 

(c)       Any
legend required by the securities laws of any state to the extent such laws are applicable to the shares represented by the certificate
so legended.

 

3.7       Accredited
Investor.
The Purchaser is an accredited investor as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.

 

3.8       Foreign
Investors. If
the Purchaser is not a United States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended),
such Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection
with any invitation to subscribe for the Stock or any use of this Agreement, including (a) the legal requirements within its jurisdiction
for the purchase of the Stock, (b) any foreign exchange restrictions applicable to such purchase, (c) any governmental or other
consents that may need to be obtained, and (d) the income tax and other tax consequences, if any, that may be relevant to the purchase,
holding, redemption, sale, or transfer of the Stock. Such Purchaser’s subscription and payment for and continued beneficial
ownership of the Stock, will not violate any applicable securities or other laws of the Purchaser’s jurisdiction. The funds
used to purchase the Stock do not violate the anti-money laundering provisions of the Money Laundering Control Act of 1986 or the
Bank Secrecy Act of 1970, as amended by the USA Patriot Act of 2001.

 

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3.9       No
General Solicitation. Neither the Purchaser, nor any of its officers, employees, agents,
directors, stockholders or partners has engaged the services of a broker, investment banker or finder to contact any potential
investor nor has the Purchaser or any of the Purchaser’s officers, employees, agents, directors, stockholders or partners,
agreed to pay any commission, fee or other remuneration to any third party to solicit or contact any potential investor. Neither
the Purchaser, nor any of its officers, directors, employees, agents, stockholders or partners has (a) engaged in any general solicitation,
or (b)published any advertisement in connection with the offer and sale of the Stock.

 

3.10       Exculpation
Among Purchasers. The
Purchaser acknowledges that it is not relying upon any Person, other than the Company and its officers and directors, in making
its investment or decision to invest in the Company. The Purchaser agrees that neither any Purchaser nor the respective controlling
persons, officers, directors, partners, members, agents, or employees of any Purchaser shall be liable to any other Purchaser for
any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of the Stock.

  

3.11       Residence.
If the Purchaser is an individual, then the Purchaser
resides in the state or province identified in the address of the Purchaser set forth on Exhibit A; if the Purchaser is a partnership,
corporation, limited liability company or other entity, then the office or offices of the Purchaser in which its principal place
of business is located is identified in the address or addresses of the Purchaser set forth on Exhibit A.

 

4.       Conditions
of the Purchasers’ Obligations at Closing.
 The obligations of each Purchaser to purchase Stock at the Initial Closing
or any subsequent Closing are subject to the fulfillment, on or before such Closing, of each of the following conditions, unless
otherwise waived by the applicable Purchaser:

 

4.1       Representations
and Warranties. The representations and warranties of the Company contained in Section
2 shall be true and correct in all respects as of the Closing.

 

4.2       Performance.
The Company shall have performed and complied with
all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied
with by it on or before the Closing.

 

4.3       Compliance
Certificate. The
President of the Company shall deliver to the Purchasers at the Closing a certificate certifying that the conditions specified
in Sections 4.1 and 4.2 have been fulfilled.

 

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4.4       Qualifications.
All authorizations, approvals or permits, if any,
of any governmental authority or regulatory body of the United States or of any state that are required in connection with the
lawful issuance and sale of the Stock pursuant to this Agreement shall be obtained and effective as of the Closing.

 

4.5       Secretary’s
Certificate. The
Secretary of the Company shall deliver to the Purchasers at the Closing a certificate certifying (a) the Articles of Incorporation
of the Company, (b) the Bylaws of the Company, and (c) resolutions of the Board of Directors of Company approving this Agreement
and the transactions contemplated hereby.

 

4.6       Proceedings
and Documents. All corporate and other proceedings in connection with the transactions
contemplated at the Closing and all documents incident thereto shall be reasonably satisfactory in form and substance to such Purchaser,
and such Purchaser (or its counsel) shall have received all such counterpart original and certified or other copies of such documents
as reasonably requested. Such documents may include good standing certificates.

 

5.       Conditions
of the Company’s Obligations at Closing. The
obligations of the Company to sell Stock to the Purchasers at the Initial Closing or any subsequent Closing are subject to the
fulfillment, on or before the Closing, of each of the following conditions, unless otherwise waived:

 

5.1      Representations
and Warranties. The
representations and warranties of each Purchaser contained in Section 3 shall be true and correct in all respects on and as of
the Closing.

 

5.2       Performance.
The Purchasers shall have performed and complied
with all covenants, agreements, obligations and conditions contained in this Agreement that are required to be performed or complied
with by them on or before the Closing.

 

5.3       Qualifications.
All authorizations, approvals or permits, if any,
of any governmental authority or regulatory body of the United States or of any state that are required in connection with the
lawful issuance and sale of the Stock pursuant to this Agreement shall be obtained and effective as of the Closing.

 

6.       Miscellaneous.

 

6.1       Survival
of Warranties. Unless otherwise set forth in this Agreement, the warranties, representations
and covenants of the Company and the Purchasers contained in or made pursuant to this Agreement shall survive the execution and
delivery of this Agreement and the Closing.

 

6.2       Transfer;
Successors and Assigns. The terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement, express or
implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights,
remedies, obligations, or liabilities under or by reason of this Agreement, except as expressly provided in this Agreement.

 

    	11

    	 

    

6.3       Governing
Law. This Agreement and all acts and transactions pursuant hereto and the rights and
obligations of the parties hereto shall be governed, construed and interpreted in accordance with the laws of the State of California,
without giving effect to principles of conflicts of law.

 

6.4       Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an original and all of which together
shall constitute one instrument. Counterparts may be delivered via facsimile, electronic mail (including pdf or any electronic
signature complying with the U.S. federal ESIGN Act of 2000, e.g., www.docusign.com) or other transmission method, and any
counterpart so delivered shall be deemed to have been duly and validly delivered and be valid and effective for all purposes.

 

6.5       Title
and Subtitles. The titles and subtitles used in this Agreement are used for convenience
only and are not to be considered in construing or interpreting this Agreement.

 

6.6       Notices.
All notices and other communications given or made pursuant to this Agreement shall be in writing and shall be deemed effectively
given upon the earlier of actual receipt, or (a) personal delivery to the party to be notified, (b) when sent, if sent by electronic
mail or facsimile during normal business hours of the recipient, and if not sent during normal business hours, then on the recipient’s
next business day, (c) five (5) days after having been sent by registered or certified mail, return receipt requested, postage
prepaid, or (d) one (1) business day after deposit with a nationally recognized overnight courier, freight prepaid, specifying
next business day delivery, with written verification of receipt. All communications shall be sent to the respective parties at
their address as set forth on the signature page or Exhibit A, or to such
e-mail address, facsimile number or address as subsequently modified by written notice given in accordance with this Section 6.6.
If notice is given to the Company, a copy shall also be sent to Jennifer A. Post, c/o Post Law Group, PC, 5900 Wilshire Boulevard,
Suite 620, Los Angeles, California 90036.

 

6.7       Finder’s
Fees. Each party represents that it neither is nor will be obligated for any finder’s
fee or commission in connection with this transaction. Each Purchaser agrees to indemnify and to hold harmless the Company and
each other Purchaser from any liability for any commission or compensation in the nature of a finder’s fee arising out of
this transaction (and the costs and expenses of defending against such liability or asserted liability) for which such Purchaser
or any of its officers, employees, or representatives is responsible. The Company agrees to indemnify and hold harmless each Purchaser
from any liability for any commission or compensation in the nature of a finder’s or broker’s fee arising out of this
transaction (and the costs and expenses of defending against such liability or asserted liability) for which the Company or any
of its officers, employees or representatives is responsible.

 

6.8       Attorney’s
Fees. Subject to Section 6.14, if any action at law or in equity (including arbitration)
is necessary to enforce or interpret the terms of any of this Agreement, the prevailing party shall be entitled to reasonable attorney’s
fees, costs and necessary disbursements in addition to any other relief to which such party may be entitled.

 

    	12

    	 

    

6.9       Amendment
and Waivers. Any term of this Agreement may be amended or waived only with the written
consent of the Company and (a) the holders of a majority of the then-outstanding Stock sold hereunder, or (b) if prior to the Initial
Closing, Purchasers obligated to purchase a majority of the Stock to be issued at the Initial Closing. Any amendment or waiver
effected in accordance with this Section 6.9 shall be binding upon the Purchasers and each transferee of the Stock, each future
holder of all such securities, and the Company.

 

6.10       Severability.
If one or more provisions of this Agreement are held to be unenforceable under applicable law, such provision shall be excluded
from this Agreement and the balance of the Agreement shall be interpreted as though such provision were so excluded and shall be
enforceable in accordance with its terms.

 

6.11       Delays
or Omissions. No delay or omission to exercise any right, power or remedy accruing
to any party under this Agreement, upon any breach or default of any other party under this Agreement, shall impair any such right,
power or remedy of such non-breaching or non-defaulting party nor shall it be construed to be a waiver of any such breach or default,
or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single
breach or default be deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent
or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the
part of any party of any provisions or conditions of this Agreement, must be in writing and shall be effective only to the extent
specifically set forth in such writing. All remedies, either under this Agreement or by law or otherwise afforded to any party,
shall be cumulative and not alternative.

 

6.12       Entire
Agreement. This Agreement and the documents referred to herein constitute the entire
agreement between the parties hereto pertaining to the subject matter hereof, and any and all other written or oral agreements
relating to the subject matter hereof existing between the parties hereto are expressly canceled.

 

6.13       Confidentiality.
Each Purchaser hereto agrees that, except with the prior written permission of the Company, such Purchaser shall at all times hold
in confidence and trust and not use or disclose any confidential information of the Company provided to or learned by such Purchaser
in connection with the Purchaser’s rights under this Agreement; provided, however, that that the foregoing shall not apply
to information disclosed by a Purchaser that is an investment fund to its limited partners, partners or members in order to allow
such Purchaser to comply with its obligations and arrangements with such persons or entities, provided that, in each case, such
parties are subject to substantially similar confidentiality obligations with respect to such information; provided further, that
each Purchaser may disclose any confidential information of the Company provided to or learned by such Purchaser in connection
with such rights to the extent reasonably necessary (a) to evaluate or monitor such Purchaser’s investment in the Company;
(b) as required by any court or other governmental body, provided that such Purchaser provides the Company with prompt notice of
such court order or requirement to enable the Company to seek a protective order or otherwise to prevent or restrict such disclosure;
(c) to legal counsel of such Purchaser; (d) in connection with the enforcement of this Agreement or rights under this Agreement;
or (e) to comply with applicable law. The provisions of this Section 6.13 shall be in addition to, and not in substitution for,
the provisions of any separate nondisclosure agreement executed by the parties hereto with respect to the transactions contemplated
hereby.

 

    	13

    	 

    

 

 

6.14       Dispute
Resolution. Any unresolved controversy or claim arising out of or relating to this Agreement,
except as (a) otherwise provided in this Agreement, or (b) any such controversies or claims arising out of any party’s intellectual
property rights for which a provisional remedy or equitable relief is sought, shall be submitted to arbitration by one arbitrator
mutually agreed upon by the parties, and if no agreement can be reached within thirty (30) days after names of potential arbitrators
have been proposed by the American Arbitration Association (the “AAA”), then by one arbitrator having reasonable experience
in corporate finance transactions of the type provided for in this Agreement and who is chosen by the AAA. The arbitration shall
take place in the State of California, County of San Diego, in accordance with the AAA rules then in effect, and judgment upon
any award rendered in such arbitration will be binding and may be entered in any court having jurisdiction thereof. There shall
be limited discovery prior to the arbitration hearing as follows: (1) exchange of witness lists and copies of documentary evidence
and documents relating to or arising out of the issues to be arbitrated, (2) depositions of all party witnesses and (3) such other
depositions as may be allowed by the arbitrators upon a showing of good cause. Depositions shall be conducted in accordance with
Section 6.3 hereof, the arbitrator shall be required to provide in writing to the parties the basis for the award or order of
such arbitrator, and a court reporter shall record all hearings, with such record constituting the official transcript of such
proceedings. The prevailing party shall be entitled to reasonable attorney’s fees, costs, and necessary disbursements in
addition to any other relief to which such party may be entitled.

 

 

 

 

[Signature
Pages Follow]

 

 

 

    	14

    	 

    

 

The parties have executed this Stock Purchase
Agreement as of the date first written above.

 

	 	 
	 	COMPANY:
	 	EXOSOME SCIENCES, INC.
	 	 
	 	 
	 	By:  /s/ James A. Joyce
	 	 
	 	Name:  James A. Joyce
	 	 
	 	Title:  President
	 	 
	 	Address:  8910 University Center
	 	Lane, Suite 660
	 	San Diego, CA 92122

 

 

 

Signature Page to Exosome
Sciences, Inc. Stock Purchase Agreement

    	15

    	 

    

 

The parties have executed this Stock Purchase
Agreement as of the date first written above.

 

	 	
        Purchasers:

         

        _________________________

         

         

         

        By: ______________________

        Name: ____________________

        Title: _____________________

         

        Address:

        ________________________

        ________________________

        ________________________

         

         

        Investment amount: $_______

         

	 	 

 

 

 

 

 

 

Signature Page to Exosome
Sciences, Inc. Stock Purchase Agreement

    	16

    	 

    

 

EXHIBIT A

 

SCHEDULE OF PURCHASERS

 

INITIAL CLOSING: November ___, 2013

 

	
        Purchaser
        Name and Address
	
        Purchase
        Price
	
        Shares
        of Common Stock Purchased

	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	TOTAL:	
        $Exhibit 10.46

 

 

August 2, 2013

 

Michelle Stacy
 Green Mountain Coffee Roasters
 33 Coffee Lane
 Waterbury, VT 05676

 

Re:  Transition Agreement with Green Mountain Coffee Roasters, Inc.

 

Dear Michelle:

 

Green Mountain Coffee Roasters, Inc. (“Company”), and you have agreed that you will transition from the Company and its affiliates on the terms set forth in this transition agreement.

 

1.                                      Employment Period; Termination Date.

 

A.                                    Employment Period.

 

1.                                      Your role as President, US Commercial, of the Company, will end on September 28, 2013. Your employment with the Company will continue until March 31, 2014 (the “Transition Date”), subject to earlier termination as provided herein.

 

2.                                      Subject to earlier termination as provided below, at the close of business on the Transition Date, you will terminate your service as an employee of the Company, and such termination shall be deemed an involuntary termination not for cause.  The period of time between the date hereof and the Transition Date (or earlier Termination Date, as defined below) is hereinafter referred to as the “Employment Period”.

 

3.                                      During the Employment Period you may terminate your employment and your services at any time for any reason, subject to the notice provision below.  During the Employment Period the Company may terminate you only for gross misconduct meaning any combination of the following: (i) commission by you of a crime involving moral turpitude, or of a felony; (ii) gross neglect of your duties (other than as a result of incapacity resulting from physical or mental illness or injury) that continues for thirty (30) days after the Company gives written notice to you thereof; or (iii) an act of dishonesty or breach of faith in the conduct by you of your duties for the Company that is materially injurious to the Company.

 

4.                                      Your termination date (“Termination Date”) is the last day that you perform services as an employee of the Company.  In no event will your Termination Date be later than March 31, 2014.  The occurrence of your Termination Date will also terminate the Employment Period.  For avoidance of doubt, your Termination Date will be the Transition Date unless you previously die, unilaterally voluntarily terminate your employment, you and the Company mutually agree in writing to an earlier Termination Date or unless the Company terminates you

 

 

 

for gross misconduct.

 

2.                                      Duties and Compensation.

 

A.                                    Employment duties.  During the Employment Period, you will continue to perform your duties as assigned from time to time by the Company’s President and Chief Executive Officer, faithfully, with the utmost loyalty, to the best of your abilities and in the best interests of the Company.  Should you commence employment as an employee with another company at any time during the Employment Period, you will be deemed to have unilaterally voluntarily terminated your employment with the Company, except as provided herein. Provided further, and subject to the provisions of Paragraph 8C below, following September 28, 2013, you shall be permitted to serve on behalf of Boards, civic groups or educational institutions, or engage in other similar activities.

 

B.                                    Compensation. Subject to your execution of releases as provided in Section 7, and to your continued compliance with Section 8,

 

1.                                      Base Salary.  During the Employment Period, the Company will continue to pay you a base salary at the gross annual rate of $406,000 (“Base Salary”).  The Base Salary shall be paid in accordance with the Company’s normal payroll practices.

 

2.                                      FY 2013 Annual Incentive Bonus Payment.   You shall receive the FY 2013 annual incentive bonus under the Senior Executive Short Term Incentive Compensation Plan (“STIP”), paid at the same time as other recipients receive their annual incentive payments for FY 2013.

 

3.                                      Benefit Plans.

 

a)                                     During the Employment Period, you will continue to be eligible to participate in the Company’s employee benefit plans, including but not limited to: the 401(k) plan, employee stock purchase plan, group medical, dental, life and vision plans, and to receive fringe benefits, all in accordance with Company plans and policies, as they may be in effect from time to time.

 

b)                                     As of the earlier of the Transition Date or your Termination Date, you will no longer to be eligible to participate in employee benefit plans (including 401(k), employee stock purchase plan, group medical, dental and vision plans, or fringe benefits), and your participation therein shall cease.

 

c)                                      COBRA Payments.  Subject to your having timely elected under the federal law known as “COBRA” to continue participation in the Company’s group medical, dental and vision plans for yourself and those individuals who were your eligible dependents immediately prior to the earlier of the Transition Date or your Termination Date, and subject to your making the required payments of the applicable COBRA

 

 

premium, the Company will make monthly payments (“COBRA Payments”) in an amount equal to the difference between the monthly cost of such COBRA continuation coverage and the premium cost to you of participation in such group medical, dental and vision plans had you remained in active employment. Provided you continue to pay the applicable COBRA premiums, such monthly COBRA Payments shall continue until the earlier of (a) nine (9) months from the earlier of your Transition Date or your Termination Date or (b) the date you (or in the case of your dependents, your dependents) become eligible for coverage under the medical, dental and/or vision plan of another employer (or in the case of your dependents, cease to be eligible for COBRA continuation coverage).

 

4.                                      Options PSUs and RSUs.  During the Employment Period you will continue to vest in your options, performance stock units (“PSUs”) and restricted stock units (“RSUs”) in accordance with their terms, as amended from time to time, except as otherwise provided herein.  For the avoidance of doubt, your provision of services hereunder through the Termination Date, regardless of role, shall be deemed “Employment” for purposes of the Company’s 2006 Incentive Plan (“2006 LTI Plan”) and any awards granted thereunder.  As of your Termination Date (whenever occurring), your outstanding options, PSUs and RSUs will be treated as provided under the terms of the respective award agreement (as amended from time to time) for an involuntary termination other than for Cause, except as otherwise herein provided.  You shall not be eligible for “Retirement” treatment under such agreements.

 

5.                                      During the Employment Period you will continue to be eligible for reimbursement of appropriate business expenses in accordance with Company policies, as they may be amended from time to time.

 

6.                                      If your employment ends on the Transition Date the Company will continue to pay your Base Salary, in accordance with the Company’s normal payroll practices, for the period from the Transition Date through December 31, 2014, except as otherwise provided herein.

 

7.                                      Outplacement.   The Company agrees to provide you with Executive Outplacement services with a value of up to $25,000.00 with a service provider selected exclusively by the Company.  Outplacement services will be available to you commencing on or after September 1, 2013 to be completed by August 31, 2014. Payment for outplacement services will be made directly to the service provider. No payment will be made to you in lieu of utilization of outplacement services. During the Employment Period, the Company agrees to accommodate your schedule for purposes of meeting, consulting and engaging with the Executive Outplacement provider.

 

C.                                    Effective August 23, 2013,

 

1.                                      Your participation in the Green Mountain Coffee Roasters, Inc. 2008 Change-In-Control Severance Benefit Plan, as amended (the “Change in Control Severance Benefit Plan”), shall cease and;

 

 

2.                                      You will not be eligible for new or additional awards under the 2006 LTI Plan and;

 

3.                                      You will not receive a merit increase and will not participate in the STIP for fiscal years ending after FY 2013.  However, in lieu of your continued participation in the STIP for the portion of your Employment Period that occurs after September 28, 2013 you shall receive a lump sum bonus of $68,000.00, (less taxes and authorized withholdings) payable within ten (10) days of your Termination Date or earlier by mutual agreement.

 

4.                                      You shall also be eligible for an additional bonus of $42,000.00, less taxes and authorized withholdings, payable on or before December 1, 2013,  contingent upon the Company’s good faith determination that you have demonstrated good faith alignment with, flexibility and positive support for, the organizational structure changes and personnel assignments to be determined and implemented by the company.

 

3.                                      Early Termination.

 

A.                                    You may terminate your employment hereunder unilaterally and voluntarily at any time by written notice to the President and Chief Executive Officer of the Company.  Your Termination Date shall be the date stated in such notice, but not earlier than 10 days after delivery of such notice to the Chief Executive Officer of the Company.  Should you unilaterally terminate your employment prior to March 31, 2014, such termination shall be treated as a voluntary termination for all purposes and in accordance with Company plans and policies, as they may be in effect from time to time.   Should you and the Company mutually agree in writing to a Termination Date after December 31, 2013 and prior to March 31, 2014, the Company shall continue to pay your Base Salary, in accordance with the Company’s normal payroll practices for a period of nine (9) months from such Termination Date and your options, PSUs and RSUs shall be treated as an involuntary termination without cause as provided in their respective grant agreements, as amended from time to time, except as otherwise provided herein.

 

B.                                    The Company may terminate you for gross misconduct as defined above. The Company acknowledges that as of the date of this Agreement it is not aware of circumstances that would constitute your gross misconduct.  The date of the end of the notice period, if any, shall be the Termination Date.  The Company’s sole obligation to you in the event of such termination shall be to pay you the Accrued Obligations (as defined in Section 5), to the extent not previously paid.  Your unvested equity awards shall thereupon be forfeited.

 

C.                                    In the event your services are terminated by your death prior to the Transition Date, the date of your death shall be the Termination Date and the Company will pay or provide your designated beneficiary (or if none, your estate) with the following, provided your designated beneficiary (or, if none, your executor) duly executes and does not revoke the Supplemental Release described in Section 7.B.:

 

1.                                      The Accrued Obligations, to the extent not previously paid;

 

 

2.                                      In lieu of your 2013 Annual Incentive, a lump sum payment in respect of your FY 2013 STIP, in an amount equal to your target FY2013 STIP which shall be paid not more than 30 business days after your death. The lump sum bonus described in Section 2C.3 above; and

 

3.                                      Treatment of your equity as described in the applicable grant agreement (as amended from time to time) in the event of termination of employment by death, except as otherwise provided herein.

 

4.                                      Death after Termination Date.  If your death occurs after your Termination Date but prior to the date you have received all payments to which you are entitled under Section 2.B.6., the Company’s sole obligation to your designated beneficiary (or if none, your estate) will be (a) to accelerate the remaining such payments and to pay them in a lump sum as soon as administratively practical after your death, but in no event more than 30 business days after your death, and (b) if not previously paid, to pay your FY2013 STIP.

 

5.                                      Accrued Obligations.  Whether or not you sign a Supplemental Release as provided in Section 7.B.,  the Company will pay or provide you the following (collectively, the “Accrued Obligations”):

 

A.                                    Within five (5) business days after your Termination Date, the Company will pay you any earned but unpaid Base Salary through your Termination Date; your FY2013 STIP, if unpaid.

 

B.                                    The Company will reimburse any unreimbursed business expenses existing on your Termination Date, in accordance with the Company’s normal reimbursement policies and practices.

 

C.                                    Effective as of the earlier of the Transition Date or your Termination Date, you may elect to continue group medical, dental and vision coverage under the federal law known as “COBRA,” if and to the extent you are eligible to do so.

 

D.                                    Within 5 days after the earlier of the Transition Date or your Termination Date, the Company will pay you any earned but unused vacation time as determined in accordance with the Company’s policies then in effect.

 

E.                                     You will be entitled to your vested account balance under and subject to the terms and provisions of the Company’s 401(k) Plan, and, if enrolled, a refund of any of the funds you contributed to the Company’s employee stock purchase plan, as amended, according to the terms and provisions of the plan.

 

6.                                      Change in Control.

 

A.                                    After your Termination Date.  If there should occur a change in control of the Company (as defined in the Company’s Change in Control Severance Benefit Plan) that qualifies as a change in ownership of the Company or a change in effective control of the Company, or as a change in the ownership of a substantial portion of the assets of the Company under Treasury Regulation 1.409A-3(i)(5)(v), (vi), or (vii) (a “409A CIC”) after your Termination Date, the Company’s sole obligations to you will be, subject to the last sentence of this Section 6.A., to provide the following:  (i) to accelerate

 

 

the payment of any remaining payments to which you may be entitled as of the date of the 409A CIC under Section 2.B.6. and to pay them in a lump sum within five (5) business days after the 409A CIC, and (ii) if the 409A CIC occurs after your Termination Date and prior to the end of the applicable performance period under the FY 2013 STIP, then no amount shall be payable under Section 2.B.2., and you shall be entitled to a lump sum payment equal to the amount that would have been paid to you in respect of the FY 2013 STIP had you remained employed until the date of the 409A CIC pursuant to the relevant transaction documents, such amount payable in respect to the FY 2013 STIP not later than five (5) business days after the 409A CIC.  For avoidance of doubt, a change in control of the Company that is not a 409A CIC shall not affect the timing of payments hereunder.

 

B.                                    On or Before your Termination Date.  If there should occur a 409A CIC and your Termination Date has not previously occurred, then the date of the 409A CIC shall be your Termination Date; and you shall be paid the Accrued Obligations not later than five (5) business days after the 409A CIC, to the extent not previously paid.  In addition, provided you sign and do not revoke the Supplemental Release as described in Section 7.B. and subject to your continued compliance with Section 8, the Company will pay or provide the following, in lieu of the amounts and form of payment applicable under Sections 2.B.6, 2.B.2., and/or 2.B.4., as applicable:

 

a)                                     Remaining payments.  In a lump sum not later than five (5) business days after the date of the 409A CIC, an amount equal to the sum of the remaining unpaid amounts under Section 2.B.6.;

 

b)                                     FY 2013 STIP.  To the extent no amount relating to your STIP for FY 2013 has previously been paid, an amount equal to your target annual bonus under the STIP for FY 2013  in a lump sum not later than five (5) business days after the 409A CIC;

 

c)                                      The lump sum bonus described in Section 2C.3 above; and

 

d)                                     Options, PSUs and RSUs.  Your options, PSUs and RSUs to the extent not previously settled, will be treated as provided in the documents and instruments effecting the 409A CIC; provided that if the options, PSUs and RSUs are not assumed by the acquiror survivor in the transaction, your unvested equity shall become fully vested immediately prior to the CIC so that you have an opportunity to exercise any outstanding options and participate in the 409A CIC transaction the same as any common shareholder with respect to your equity.

 

7.                                      Release; Supplemental Releases.

 

A.                                    Release.  The effectiveness of this transition agreement is contingent on your timely execution and non-revocation of a release and waiver of claims in the form attached hereto as Appendix A (“Release”).  If you do not timely execute the Release or if you revoke it, then you will be deemed to have involuntarily terminated your employment and your service with the Company and its affiliates as of the date of this transition agreement.  In that case, this transition agreement shall be null and void,

 

 

and any payments of compensation or provision of benefits after the date of this transition agreement and the last date for non-revocation of the Release shall be deemed made pursuant to the terms of your September 23, 2008, as revised March 16, 2009, employment letter from the Company.

 

B.                                    Supplemental Releases.  As a condition of receiving any benefits other than the Accrued Obligations after your Termination Date, you agree to execute within 21 days after your Termination Date and not revoke, a separate supplemental release and waiver of claims in the form attached hereto as Appendix B (“Supplemental Release”).

 

C.                                    No Payments until Release Irrevocable.  Payments and benefits conditioned upon the execution and nonrevocation of the Release or Supplemental Release shall not be made or commence, notwithstanding any other provision of this transition agreement to the contrary, prior to the expiration of the revocation period for the Release or Supplemental Release, as applicable.  Upon the expiration of the applicable revocation period for the Release or Supplemental Release, any payments or benefits so postponed shall be cumulated and paid the day after the expiration of such revocation period; provided you have not revoked the Release or Supplemental Release.

 

8.                                      Confidentiality; Restrictive Covenants.

 

A.                                    Need for Restrictive Covenants.  You acknowledge that, as a senior executive of the Company, you have and, prior to the Termination Date, will acquire and have access to, and have and will, prior to the Termination Date, continue to develop substantial and intimate knowledge of, the Company’s Confidential Information, as defined below, and that you have and will, prior to the Termination Date, also continue to develop a unique and comprehensive familiarity with the Company and the business conducted by the Company and its affiliates, which you would not have otherwise had but for your employment with the Company, and which you acknowledge are valuable assets of the Company.  Accordingly, in consideration of the foregoing and of entering into this transition agreement, you agree to undertake the obligations set forth in Sections 8.B., C. and D., which you acknowledge are reasonably designed to protect the legitimate business interests of the Company, without unreasonably restricting your post-employment employment opportunities.   This paragraph 8 shall constitute the entire agreement between you and the Company and its affiliates on the subject of the restrictive covenants applicable to you after the date hereof, and supersedes all other prior agreements between you and the Company or its affiliates regarding such subject matter.

 

B.                                    Confidentiality.  You acknowledge that you have and, prior to the Termination Date, will continue to have access to Confidential Information of the Company, its affiliates, and the Foundation. All Confidential information is of irreplaceable value to the Company, its affiliates, and the Foundation.  Except as required to perform your responsibilities for the Company, its affiliates, or the Foundation, to comply with law or regulation, or as authorized in writing in advance by the Chief Executive Officer of the Company, you will not, at any time, use, disclose or take any action which may result in the use or disclosure of any Confidential Information.  “Confidential Information” means all confidential and proprietary information of the Company or its affiliates, and includes, but is not limited to actual and prospective customer and client lists and pricing information, business plans, programs and tactics, research and development information, personnel information, and all other information unique to the

 

 

Company and not readily available to the public, including designs, improvements, inventions, formulas, compilations, methods, strategies, capabilities, forecasts, software programs, processes, know-how, data, operating methods and techniques, and all business costs, profits, vendors, markets, sales, products, marketing, sales or other financial or business information, and any modifications or enhancements of any of the foregoing.

 

C.                                    Restrictive Covenants.  You agree and covenant not to, without the explicit written permission of the Chief Legal Officer of the Company:

 

1.                                      contribute your knowledge, directly or indirectly, in whole or in part, as an employee, officer, owner, manager, advisor, consultant, agent, partner, director, shareholder, volunteer, intern or in any other similar capacity to an entity engaged in the same or similar business as of September 28, 2013 as the Company and its affiliates anywhere in the United States for a period of 12 months following your Termination Date;

 

2.                                      directly or indirectly, solicit, hire, recruit, attempt to hire or recruit, or induce the termination of employment of any employee of the Company or its affiliates for 12 months following your Termination Date; or

 

3.                                      directly or indirectly, solicit, contact (including, but not limited to, e-mail, regular mail, express mail, telephone, fax, instant message, or tweet) attempt to contact or meet with any current customer of the Company or any of its affiliates for purposes of offering or accepting goods or services similar to or competitive with those currently offered by the Company or any of its affiliates for a period of 12 months following your Termination Date.

 

D.                                    Nondisparagement.  You agree (a) not to make issue, circulate, publish or utter any statement, whether written or oral, to any third party or take any action or cause or assist another person to do so, which is intended to or would reasonably be foreseeable to have the effect of being false or of disparaging, defaming, criticizing, holding in a negative light or reflecting adversely upon the Company (including its current and former parents, subsidiaries, affiliates, successors, assigns, directors, officers, shareholders, employees, agents, products, services or practices, and the Foundation), and (b) not to publish, comment upon or disseminate any statements suggesting or accusing the Company, any of its affiliates or the Foundation, or any of their respective agents, employees or officers of any misconduct or unlawful behavior. The Company agrees to direct its, executive officers, (x) not to make issue, circulate, publish or utter any statement, whether written or oral, to any third party or take any action or cause or assist another person to do so, which is intended to or would reasonably be foreseeable to have the effect of being false or of disparaging, defaming, criticizing, holding in a negative light or reflecting adversely upon you, and (y) not to publish, comment upon or disseminate any statements suggesting or accusing you of any misconduct or unlawful behavior.  Notwithstanding the foregoing, you and the Company’s executive officers may give truthful and non-malicious testimony if properly subpoenaed to testify under oath, and truthfully and non-maliciously cooperate in investigations by governmental or regulatory authorities.  You agree to direct all inquiries from prospective employers, the media or, after your Termination Date, governmental or regulatory authorities to the Company’s Chief Human Resources Officer or Chief Legal Officer.

 

 

E.                                     Company Property.  As soon as practicable following your Termination Date, you will return to the Company all keys, key cards, Confidential Information, documents, manuals, computers, computer programs, flash drives, CDs, diskettes or other recording media, customer lists, notebooks, reports and other written or graphic materials, including all copies thereof and whether in electronic form or otherwise, relating in any way to the Company’s business and prepared by your or obtained by your from the Company, its customers or suppliers during the course of your provision of services to the Company.  You covenant that you will retain no copies of any such material.

 

F.                                      Remedies on Breach.  In the event of a breach of any of the foregoing covenants (including Sections 8.B., C., D. and E hereof),

 

1.                                      Any unvested portion of your outstanding options, PSUs and RSUs shall be forfeited effective as of the date of such breach, unless sooner terminated by operation of another term or condition of this transition agreement or the applicable plan; and

 

2.                                      Any amounts due to be paid under Section 2.B shall be forfeited as of the date of such breach, and any amounts previously paid under Section 2.B shall be subject to recoupment (to the extent permitted by applicable law); and

 

3.                                      The Company shall be entitled to seek, in addition to other available remedies, a temporary or permanent injunction or other equitable relief against such breach or threatened breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security.  Such equitable relief shall be in addition to, and not in lieu of, legal remedies, monetary damages or other available forms of relief.

 

9.                                      Litigation and Regulatory Cooperation.  You agree to reasonably cooperate with the Company and its affiliates after the Transition Date in the defense or prosecution of any claims or actions now in existence or which may be brought in the future against or on behalf of the Company or any of its affiliates that relate to events or occurrences that transpired during the time you provided services to the Company, including but not limited to pending matters, whether asserted as litigation, threatened litigation, an internal investigation or complaint, or any investigation or review by any foreign, federal, state or local regulatory authority.  Your full cooperation in connection with such claims or actions shall include, but not be limited to, being available at reasonable times and reasonable places to (a) meet with and provide truthful and accurate information to counsel for the Company and its affiliates as part of the Company’s investigation of such matters, (b) meet with governmental officials to provide accurate and truthful information at the request of the Company or an affiliate, (c) prepare for discovery or trial, and (d) act as a witness at the request of the Company or any affiliate and provide truthful testimony as may be required.  In scheduling your time to prepare for such meetings and conferences, and any appearances for discovery or trial, the Company shall take into account your personal and professional obligations and shall use reasonable efforts to minimize interference with any other employment obligations that you may have, provided that you shall also use reasonable efforts to accommodate the schedule of the Company and its counsel.  You will be entitled, upon delivery of customary supporting documentation, to reimbursement for reasonable out-of-pocket travel expenses approved in advance, and other expenses approved in advance by the Company, including but not limited to reasonable

 

 

counsel fees and costs you incur in connection with the foregoing.  For the avoidance of doubt, Executive shall continue to be indemnified in substantially the same manner as if under the August 10, 2009 Indemnification Agreement for alleged acts or omissions for the period May 9, 2013 through March 31, 2014 provided Executive remains employed during that period.

 

10.                               Additional provisions.

 

A.                                    Withholding; Deductions.  Any payments to you are subject to required withholding and authorized deductions.

 

B.                                    Recoupment.

 

1.                                      Recoupment provisions in any documents or any Company policy applicable to you shall remain in effect.

 

2.                                      If there is a material adjustment of financial results for fiscal year 2013 or fiscal year 2014 (the “Adjusted Financial Statements”), and the Board of Directors of the Company (the “Board”) or a committee thereof determines that as a result of such adjustment materially more compensation was paid to you under the FY2013 STIP, and/or materially more PSUs were granted to you, than if the Adjusted Financial Statements had been the financial statements originally reported, the Board or a committee thereof may require you to (a) reimburse the Company for any incentive paid to you under the FY2013 STIP in excess of what would have been paid to you under the Adjusted Financial Statements, and (b) forfeit any or all PSUs granted to you in excess of what would have been granted to you under the Adjusted Financial Statements (including any shares of Common Stock issued to you upon such PSUs’ vesting).  Provided, that such actions are taken against all other participants or grantees.

 

3.                                      In addition, your FY2013 STIP and PSUs shall be subject to recoupment by the Company to the extent required to comply with (a) applicable law or regulation or the rules of the stock exchange on which the Company’s common stock is traded or (b) any other applicable clawback or recoupment policy as required by law.

 

C.                                    Compliance with Section 409A.

 

1.                                      To the extent this transition agreement provides for compensation that is deferred compensation subject to Section 409A, it is intended that you not be subject to the imposition of taxes and penalties (“409A Penalties”) under Section 409A, and this transition agreement shall be construed in accordance with that intent.

 

2.                                      Notwithstanding any other provision in this transition agreement, if as of the date on which you incur a separation from service within the meaning of Section 409A, you are a “specified employee” as determined by the Company, then to the extent any amount payable or benefit provided to you that the Company reasonably determines would be nonqualified deferred compensation within the meaning of Section 409A,   for which payment is triggered

 

 

by your separation from service (other than on account of death), and that under the terms of this transition agreement would be payable on or prior to the six-month anniversary of your separation from service, such payment or benefit shall be delayed until the earlier to occur of (a) the day after the six-month anniversary of such separation from service, or (b) the date of your death.

 

3.             With respect to any reimbursements under this transition agreement, such reimbursement shall be made on or before the last day of the calendar year following the calendar you in which the expense was incurred; subject to timely submission of proper substantiation in accordance with the Company’s policies and procedures therefor.

 

4.             The amount of any expenses eligible for reimbursement of the amount of any in-kind benefits provided, as the case may be, under this transition agreement during any calendar year shall not affect the amount of expenses eligible for reimbursement or the amount of any in-kind benefits provided during any other calendar year.  The right to reimbursement or to any in-kind benefit pursuant to this transition agreement shall not be subject to liquidation or exchange for any other benefit.

 

5.             If under this transition agreement, an amount is to be paid in two or more installments or two or more monthly payments, then for purposes of Code Section 409A, each installment shall be treated as a separate payment.

 

6.             If payment of any amount of deferred compensation subject to Section 409A is contingent upon your execution of a release and waiver of claims, and if the period within which you must sign and not revoke the release and waiver of claims would begin in one calendar year and expire in the following calendar year, then any payments contingent on such employment-related action shall be made (or commence) in such following calendar year (regardless of the year of execution of such release) if payment in such following calendar year is required in order to avoid 409A Penalties.

 

7.             You acknowledge that notwithstanding this Section 10.C. or any other provision of this transition agreement, the Company and its affiliates are not providing you with any tax advice with respect to Section 409A or otherwise, and are not making any guarantees or other assurances of any kind to you with respect to the tax consequences or treatment of any amounts paid or payable to you under this transition agreement or your equity award agreements. You are solely responsible for the payment of taxes, including any 409A Penalties.

 

D.            Entire Agreement.  This transition agreement constitutes the entire agreement between you and the Company and its affiliates on the subject of any payments and benefits due to you after the date hereof, and supersedes all other prior agreements between you and the Company or its affiliates, except for the Indemnification Agreement between you and the Company dated August 10, 2009, for the period covered by such Agreement, your options granted on November 3, 2008, March 12, 2009, March 11, 2010, March 10, 2011, March 22, 2012 and March 7, 2013, your Restricted Stock Units

 

 

granted March 22, 2012 and March 7, 2013, and your Performance Stock Units granted on March 7, 2013, which shall continue to apply (as amended from time to time), except as otherwise provided herein, and are hereby made a part of this transition agreement by reference.  Specifically, but not exclusively, your September 23, 2008, as revised March 16, 2009, employment letter is superseded in its entirety, and the Change in Control Severance Benefit Plan does not apply to you.  The payments and benefits described in this transition agreement will be the only such payments and benefits you are to receive in connection with the termination of your employment and your separation from service with the Company and its affiliates, and you acknowledge you are not entitled to any additional payments, rights or benefits not otherwise described in this transition agreement.  Any payments, rights or benefits you receive under this transition agreement will not be taken into account for purposes of determining benefits under any employee benefit plan of the Company, except to the extent required by law, or as otherwise expressly provided under the terms of such plan.  In addition, in the event of any conflict between any provisions of this transition agreement and the provisions of any other agreement you have with the Company, the provisions of this transition agreement shall control.

 

E.            Binding on Successors to the Company; Non-assignment.  This transition agreement shall inure to the benefit of and be binding upon the Company and its successors and assigns.  You shall not assign or otherwise alienate your rights under this transition agreement.

 

F.             Governing Law.  The validity, interpretation, construction, and performance of this transition agreement shall be governed by the laws of the State of Massachusetts without regard to its principles of conflicts of law, and except to the extent preempted by federal law.

 

G.            Severability.  In the event that any one or more of the provisions of this transition agreement shall be or become invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions of this transition agreement shall not be affected thereby, provided that if any portion of the Release or the Supplemental Release shall be or become invalid, illegal or unenforceable in any respect, the Company shall be relieved of its obligations hereunder that are contingent on your execution and non-revocation of the Release or Supplemental Release.

 

	
 
    	
Sincerely,
    
	
 
    	
 
    
	
 
    	
GREEN MOUNTAIN COFFEE   ROASTERS, INC.
    
	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Brian P. Kelley
    
	
 
    	
Brian P. Kelley, Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
ACKNOWLEDGED AND AGREED
    	
 
    

 

 

	
/s/ Michelle Stacy
    	
 
    
	
Michelle Stacy
    	
 
    
	
 
    	
 
    
	
Date: August 21, 2013
    	
 
    

 

 

Appendix A
 Release and Waiver

 

THIS RELEASE is executed by the undersigned (the “Executive’) as of the date indicated below.

 

WHEREAS, the Executive and Green Mountain Coffee Roasters, Inc. (the “Company”) entered into a transition agreement dated August 2, 2013 (the “Transition Agreement”), subject to the Executive’s timely execution and non-revocation of this Release and to his compliance with its terms and the terms of the Transition Agreement;

 

NOW, THEREFORE, in consideration of the Company’s entering into the Transition Agreement and other good and valuable consideration, the Executive agrees as follows:

 

1.             Executive irrevocably and unconditionally releases, acquits, and forever discharges the Company and all of its current and former related entities, affiliates, successors, predecessors, assigns, owners, investors, stockholders, partners, members, and employee benefit plans, and all of their directors, officers, employees, agents, representatives, insurers, administrators, attorneys, and all persons acting by, through, under, or in concert with any of them (collectively “Releasees”), from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, damages, actions, causes of action, suits, rights, demands, costs, losses, debts, and expenses (including attorneys’ fees and costs) of any nature whatsoever, known or unknown, suspected or unsuspected (“Claim” or “Claims”), which Executive now has, owns or holds, or claims to have, own or hold, or which Executive at any time heretofore had, owned or held, or claimed to have had, owned or held, or which Executive at any time hereafter may have, own or hold, or claim to have, own or hold, against any of the Releasees relating to any event, act, or omission that has occurred prior to or as of the date Executive signs this Release.  This Release shall not apply to (a) any of the Company’s obligations under the terms of the Transition Agreement, and (b) Executive’s right to indemnification under the Company’s Certificate of Incorporation, bylaws, insurance policies, and the indemnification agreement between the Company and Executive dated August 10, 2009.  For the avoidance of doubt, Executive shall continue to be indemnified in substantially the same manner as if under the August 10, 2009 Indemnification Agreement for any alleged acts or omissions for the period May 9, 2013 through March 31, 2014 provided Executive remains employed by the Company during that period.

 

2.             Without limiting the foregoing, Executive specifically waives and releases all rights, claims (including claims for attorneys’ fees), demands, and causes of action under the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended; Title VII of the Civil Rights Act of 1964, as amended; the Employee Retirement Income Security Act of 1974, as amended; the Rehabilitation Act of 1973, as amended; the Worker Adjustment Retraining and Notification Act; the Americans with Disabilities Act; and any comparable state law, concerning Executive’s relationship and association with any of the Releasees and the creation and termination of such relationship.  Executive acknowledges and understands that the release of claims under the ADEA is subject to special waiver protection under 29 U.S.C. § 626(f).

 

a.             In accordance with that section, Executive specifically agrees she is knowingly and voluntarily releasing and waiving any right or claim of discrimination under the ADEA.

 

 

b.             In particular, she acknowledges and understands the following:

 

(i)            she is not waiving rights or claims for age discrimination under the ADEA that may arise after the date she signs this Release;

 

(ii)           she is not waiving her right to file a complaint or charge with the EEOC or participate in any investigation or proceeding conducted by the EEOC;

 

(iii)          she is waiving rights or claims for age discrimination under the ADEA in exchange for entering into the Transition Agreement, which is in addition to anything of value to which she otherwise is entitled;

 

(iv)          she has been advised to consult with an attorney of her choice before signing this Release, and she has had an opportunity to do so;

 

(v)           she has freely and voluntarily entered into this Release without any threat, coercion, or intimidation by any person;

 

(vi)          she has been given the opportunity to take 21 days to consider whether to sign this Release, although she is not required to wait 21 days; and

 

(vii)         she will have seven days after the date she signs this Release within which to revoke it, and the Release shall not become effective or enforceable as to any party until that revocation period has expired without revocation of the Release.  Any such revocation shall be in writing and shall be sent to Linda Longo Kazanova, Vice President, Chief Human Resources Officer, at the Company’s headquarters at 33 Coffee Lane, Waterbury, VT 05676.

 

3.             The Executive understands that nothing in this Release shall be construed to prohibit her from filing a charge with, or participating in any investigation or proceeding conducted by, the Equal Employment Opportunity Commission, National Labor Relations Board, and/or any federal, state or local agency.  Notwithstanding the foregoing, the Executive hereby waives any and all rights to recover monetary damages in any charge, complaint, or lawsuit filed by her or by anyone else on her behalf based on events occurring prior to the date of this Release.

 

4.             Executive expressly acknowledges that this Release is intended to include in its effect, without limitation, all Claims which he does not know or suspect to exist in her favor at the time of execution hereof and that this Release contemplates the extinguishment of any such Claim or Claims.

 

5.             Executive agrees that she is bound by the provisions of the Transition Agreement, which are fully incorporated into this Release.

 

6.             Executive represents that she has not heretofore assigned or transferred, or purported to assign or transfer, to any person or entity, any Claim or any portion thereof, or interest therein, and she agrees to indemnify, defend and hold Releasees harmless from and against any and all Claims, based on or arising out

 

 

of any such assignment or transfer, or purported assignment or transfer of any Claims or any portion thereof or interest therein.

 

7.             Executive represents and acknowledges that in executing this Release she does not rely and has not relied upon any representation or statement not set forth herein made by any of the Releasees or by any of the Releasees’ agents, representatives, or attorneys with regard to the subject matter, basis, or effect of this Release or otherwise.

 

8.             This Release shall be binding upon Executive and upon her respective heirs, administrators, representatives, executors, beneficiaries, successors, and assigns, and shall inure to the benefit of Releasees and each of them, and to their heirs, administrators, representatives, executors, successors, and assigns.

 

9.             This Release is made and entered into in the State of Vermont and shall in all respects be interpreted, enforced, and governed under the laws of the State of Vermont. The language of all parts of this Release shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against any of the parties.  It is agreed that this Agreement shall be construed with the understanding that both parties were responsible for drafting it.

 

10.          Capitalized terms used herein and not defined shall have the meanings ascribed to them in the Transition Agreement.

 

11.          Should any of the provisions of this Release be declared or be determined to be illegal or invalid, the validity of the remaining parts, terms, or provisions shall not be affected thereby, and said illegal or invalid part, term, or provision shall be deemed not to be a part of this Release.

 

12.          The signed Release must be returned to Linda Longo Kazanova, Chief Human Resources Officer, at the Company’s headquarters at 33 Coffee Lane, Waterbury, VT 05676 on or before August 26, 2013.  If Executive does not revoke the Release within seven days after signing it, then the Release will take effect as a legally binding document on the expiration of the seventh day after signing.

 

PLEASE READ CAREFULLY.  THIS RELEASE AND WAIVER INCLUDES A RELEASE OF ALL KNOWN OR UNKNOWN CLAIMS.

 

Executed at Reading (city), Massachusetts (state) this 21st day of August, 2013.

 

 

	
 
    	
By:
    	
/s/ Michelle Stacy
    
	
 
    	
 
    	
  Michelle   Stacy
    

 

Received at South Burlington, Vermont this 21st day of August, 2013.

 

Green Mountain Coffee Roasters, Inc.

 

 

	
By:
    	
/s/ Linda Longo Kazanova
    	
 
    
	
Printed Name: Linda Longo Kazanova
    	
 
    
	
Title: Chief Human Resources Officer
    	
 
    

 

Appendix B

 

Supplemental Release and Waiver

 

THIS SUPPLEMENTAL RELEASE is executed by the undersigned (the “Executive’) as of the date indicated below.

 

WHEREAS, the Executive and Green Mountain Coffee Roasters, Inc. (the “Company”) entered into a transition agreement dated August 2, 2013 (the “Transition Agreement”), under which Executive is entitled to certain payments and benefits following his Termination Date (as defined in the Transition Agreement), subject to the Executive’s timely execution and non-revocation of this Supplemental Release and to his compliance with its terms; and

 

WHEREAS, the Termination Date has occurred;

 

NOW, THEREFORE, in consideration of the payments and provision of benefits as provided in the Transition Agreement, and other good and valuable consideration, the Executive agrees as follows:

 

1.             Executive irrevocably and unconditionally releases, acquits, and forever discharges the Company and all of its current and former related entities, affiliates, successors, predecessors, assigns, owners, investors, stockholders, partners, members, and employee benefit plans, and all of their directors, officers, employees, agents, representatives, insurers, administrators, attorneys, and all persons acting by, through, under, or in concert with any of them (collectively “Releasees”), from any and all charges, complaints, claims, liabilities, obligations, promises, agreements, damages, actions, causes of action, suits, rights, demands, costs, losses, debts, and expenses (including attorneys’ fees and costs) of any nature whatsoever, known or unknown, suspected or unsuspected (“Claim” or “Claims”), which Executive now has, owns or holds, or claims to have, own or hold, or which Executive at any time heretofore had, owned or held, or claimed to have had, owned or held, or which Executive at any time hereafter may have, own or hold, or claim to have, own or hold, against any of the Releasees relating to any event, act, or omission that has occurred prior to or as of the date Executive signs this Supplemental Release.  This Supplemental Release shall not apply to (a) any of the Company’s remaining obligations under the terms of the Transition Agreement and/or this Supplemental Release, or (b) Executive’s right to indemnification under the Company’s bylaws, Certificate of Incorporation, insurance policies and the indemnification agreement between the Company and Executive dated August 10, 2009. For the avoidance of doubt, Executive shall continue to be indemnified in substantially the same manner as if under the August 10, 2009 Indemnification Agreement for any alleged acts or omissions for the period May 9, 2013 through March 31, 2014 provided Executive remains employed by the Company during that period.

 

 

2.             Without limiting the foregoing, Executive specifically waives and releases all rights, claims (including claims for attorneys’ fees), demands, and causes of action under the Age Discrimination in Employment Act of 1967 (“ADEA”), as amended; Title VII of the Civil Rights Act of 1964, as amended; the Employee Retirement Income Security Act of 1974, as amended; the Rehabilitation Act of 1973, as amended; the Worker Adjustment Retraining and Notification Act; the Americans with Disabilities Act; and any comparable state law, concerning Executive’s relationship and association with any of the Releasees and the creation and termination of such relationship.  Executive acknowledges and understands that the release of claims under the ADEA is subject to special waiver protection under 29 U.S.C. § 626(f).

 

a.             In accordance with that section, Executive specifically agrees he is knowingly and voluntarily releasing and waiving any right or claim of discrimination under the ADEA.

 

b.             In particular, she acknowledges and understands the following:

 

(i)            she is not waiving rights or claims for age discrimination under the ADEA that may arise after the date she signs this Supplemental Release;

 

(ii)           she is not waiving her right to file a complaint or charge with the EEOC or participate in any investigation or proceeding conducted by the EEOC;

 

(iii)          she is waiving rights or claims for age discrimination under the ADEA in exchange for the payments and benefits under the Transition Agreement, which are in addition to anything of value to which she otherwise is entitled;

 

(iv)          she has been advised to consult with an attorney of her choice before signing this Supplemental Release, and she has had an opportunity to do so;

 

(v)           she has freely and voluntarily entered into this Supplemental Release without any threat, coercion, or intimidation by any person;

 

(vi)          she has been given the opportunity to take 21 days after his Termination Date to consider whether to sign this Supplemental Release, although she is not required to wait 21 days; and

 

(vii)         she will have seven days after the date she signs this Supplemental Release within which to revoke it, and the Supplemental Release shall not become effective or enforceable as to any party until that revocation period has expired without revocation of the Supplemental Release.  Any such revocation shall be in writing and shall be sent to Linda Longo Kazanova, Vice President, Chief Human Resources Officer, at the Company’s headquarters at 33 Coffee Lane, Waterbury, VT 05676.

 

3.             The Executive understands that nothing in this Supplemental Release shall be construed to prohibit her from filing a charge with, or participating in any investigation or proceeding conducted by, the Equal Employment Opportunity Commission, National Labor Relations Board, and/or any federal, state or local

 

 

agency.  Notwithstanding the foregoing, the Executive hereby waives any and all rights to recover monetary damages in any charge, complaint, or lawsuit filed by him or by anyone else on her behalf based on events occurring prior to the date of this Supplemental Release.

 

4.             Executive expressly acknowledges that this Supplemental Release is intended to include in its effect, without limitation, all Claims which she does not know or suspect to exist in her favor at the time of execution hereof and that this Supplemental Release contemplates the extinguishment of any such Claim or Claims.

 

5.             Executive agrees that she shall continue to be bound by the provisions of Sections 8, 9, and 10 of the Transition Agreement, which are fully incorporated into this Supplemental Release.

 

6.             Executive represents that she has not heretofore assigned or transferred, or purported to assign or transfer, to any person or entity, any Claim or any portion thereof, or interest therein, and she agrees to indemnify, defend and hold Releasees harmless from and against any and all Claims, based on or arising out of any such assignment or transfer, or purported assignment or transfer of any Claims or any portion thereof or interest therein.

 

7.             Executive acknowledges and agrees that, pursuant to the Transition Agreement, she will have received payment for any and all compensation for services rendered through the Termination Date, including all wages or other compensation and all accrued and unpaid vacation pay.  Executive agrees and understands that the Company has paid her for any reimbursable but unpaid business expenses outstanding on the Termination Date.

 

8.             Executive represents and acknowledges that in executing this Supplemental Release she does not rely and has not relied upon any representation or statement not set forth herein made by any of the Releasees or by any of the Releasees’ agents, representatives, or attorneys with regard to the subject matter, basis, or effect of this Supplemental Release or otherwise.

 

9.             This Supplemental Release shall be binding upon Executive and upon her respective heirs, administrators, representatives, executors, beneficiaries, successors, and assigns, and shall inure to the benefit of Releasees and each of them, and to their heirs, administrators, representatives, executors, successors, and assigns.

 

10.          This Supplemental Release is made and entered into in the State of Vermont and shall in all respects be interpreted, enforced, and governed under the laws of the State of Vermont. The language of all parts of this Supplemental Release shall in all cases be construed as a whole, according to its fair meaning, and not strictly for or against any of the parties.  It is agreed that this Agreement shall be construed with the understanding that both parties were responsible for drafting it.

 

11.          Capitalized terms used herein and not defined shall have the meanings ascribed to them in the Transition Agreement.

 

 

12.          Should any of the provisions of this Supplemental Release be declared or be determined to be illegal or invalid, the validity of the remaining parts, terms, or provisions shall not be affected thereby, and said illegal or invalid part, term, or provision shall be deemed not to be a part of this Supplemental Release.

 

 

13.          The signed Supplemental Release must be returned to Linda Longo Kazanova, Chief Human Resources Officer, at the Company’s headquarters at 33 Coffee Lane, Waterbury, VT 05676 on or before April 21, 2014.  If Executive does not revoke this Supplemental Release within seven days after signing it, then the Agreement will take effect as a legally binding document on the expiration of the seventh day after signing (the “Effective Date”).

 

PLEASE READ CAREFULLY.  THIS SUPPLEMENTAL RELEASE INCLUDES A RELEASE OF ALL KNOWN OR UNKNOWN CLAIMS.

 

Executed at                                  (city),                                  (state) this                day of                           , 2014.

 

	
 
    	
By:
    	
 
    
	
 
    	
 
    	
    Michelle Stacy
    

 

Received at South Burlington, Vermont this        day of                     , 2014.

 

Green Mountain Coffee Roasters, Inc.

 

 

	
By:
    	
 
    	
 
    
	
Printed Name: Linda Longo Kazanova
    	
 
    
	
Title: Chief Human Resources Officer

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