Document:

Cytomedix,

209
Perry Parkway, Suite 7 Gaithersburg, MD 20877

Ph:
(240) 499-2680 Fax: (240) 499-2690

www.cytomedix.com

 

SEPARATION
AGREEMENT

 

This
SEPARATION AGREEMENT ("Agreement") is made and entered into as of March 30, 2013 ("Execution Date")
by and between Cytomedix, Inc. ("Cytomedix" or "Company") and Andrew S. Maslan (hereinafter referred to
as "Employee").

 

		1.	Purpose of Agreement

 

1.1           On
June 3, 2005, the Company and the Employee executed a letter agreement providing the terms of the Employee's employment with
the Company ("Original Agreement"). On October 4, 2006, this Original Agreement was amended by First Addendum to the
Employment Agreement by and between parties thereto (the "Addendum"). The Original Agreement and the Addendum are hereinafter
referred to collectively as the "Employment Agreement." By the terms of this Agreement, the parties have agreed to set
forth their final agreement regarding the termination of Employee's employment with the Company.

 

1.2           Both
the Company and the Employee agree that Employee's departure is not due to any disagreement regarding accounting principles
or practices utilized by the Company or financial statement disclosures made by the Company, nor the Employee's dissatisfaction
with any aspect of the Company's management, policies or actions during his employment, nor the Company's dissatisfaction
with any aspect of the Employee's performance during his employment; the Company and the Employee agree that the Employee's
departure is in the best interest of both parties.

 

1.3           The
Company desires and the Employee has agreed that Employee will remain with the Company as its Chief Financial Officer and Secretary
until May 10, 2013 (the "Resignation Date"). Both parties have agreed that the Resignation Date shall be the last day
of Employee's employment with the Company. The Employee represents and warrants that during this period, and as of the Resignation
Date, he has disclosed to the Chief Executive Officer and the Audit Committee of the Company all material facts in his actual knowledge
or possession which relate or pertain to the Company.

 

1.4           The
Company and Employee have agreed to enter into this Agreement for the purpose of setting forth their arrangement and understanding
regarding the Employee's departure from the Company, and the termination of his employment relationship with the Company.

 

		2.	Termination of Employment.

 

2.1           Employee
hereby tenders his voluntary resignation as Chief Financial Officer and Secretary of the Company as of the Resignation Date. The
Company hereby accepts such resignation.

 

2.2           Pursuant
to the terms of the Employment Agreement, the Employee shall be entitled to receive a six (6) month severance package as follows:
for a period of six (6) months following the Resignation Date, the Employee will continue to receive his annual base salary and
all other benefits on the same terms and schedules as existed immediately prior to his termination and for which he could continue
to be eligible during that period, based on the governing terms and conditions of the benefits. Options awarded will continue to
vest during the six (6) month period in accordance with applicable vesting schedules. Pursuant to the Stock Option Grant Notice
dated as of December 1, 2011, the Employee received options to purchase 50,000 shares of the Company's common stock at a price
of $0.80 per share. 33,334 of such options remain unvested as of the date hereof. The Company and the Employee agree that such
unvested options shall fully vest upon execution of this Agreement. Notwithstanding the foregoing, the Company represents, warrants,
and agrees that the Employee is the holder of the following stock options, all of which, pursuant to the terms of such Options,
and consistent with the intent of the Board of Directors, and the Employment Agreement, (i) will be fully vested as of the six month
anniversary of the Resignation Date or such earlier date as specified in each respective Stock Option Grant Notice, and will remain
in full force and effect until the ten year anniversary of each Option's respective issue date, and (ii) in the event of
Employee's death or disability, the Options will remain vested and exercisable by the Employee's estate or the Employee
(in case of his disability) until the ten year anniversary of each Option's respective issue date:

 

 

    	 

    	 

    

 

Andrew Maslan

 

Separation
Agreement

March 30,
2013

 

	Issue Date	 	Strike Price	 	 	Quantity	 
	1/12/2006	 	$	5.07	 	 	 	60,000	 
	3/22/2006	 	$	2.52	 	 	 	40,000	 
	10/11/2006	 	$	2.73	 	 	 	50,000	 
	7/27/2007	 	$	0.88	 	 	 	20,000	 
	9/18/2008	 	$	0.70	 	 	 	100,000	 
	5/13/2009	 	$	0.60	 	 	 	35,000	 
	9/17/2003	 	$	0.62	 	 	 	30,000	 
	7/13/2010	 	$	0.56	 	 	 	50,000	 
	5/23/2011	 	$	0.37	 	 	 	10,000	 
	12/1/2011	 	$	0.80	 	 	 	50,000	 

 

In
addition, the Employee will receive a onetime payment of $10,000 with the final severance payroll payment.

 

The
Employee shall be reimbursed for all accrued but unused vacation time as of the Resignation Date. Such reimbursement shall be made
at the time of the Company's first regularly scheduled payroll date subsequent to the Resignation Date.

 

The
Employee shall be entitled to apply for continued health benefits under COBRA or similar state program under Maryland law.

 

Following
the Resignation Date, the Company shall have a continuing obligation to reimburse the Employee within fifteen (15) days of submission
of any business related expenses incurred in the ordinary course of the Employee's employment.

 

		3.	No Current Claims

 

3.1           The
Employee warrants and represents that he is not presently a named plaintiff in any law suit, filed in any jurisdiction; against
Company and that he has not filed a charge with the United States Equal Employment Opportunity Commission or any other administrative
agency against Company. In the event that this warranty and representation is incorrect, Company shall have the absolute right
to terminate this Agreement, and to demand and have immediately returned to Company all consideration paid by it to Employee pursuant
to this Agreement.

 

3.2           The
Company is hereby indemnified and held harmless by Employee for any breach of the warranty and representation contained in this
Section 3, and to recover from Employee all costs and expenses incurred as a result of Employee's breach of the warranty and representation
contained in this Section 3, and all costs and expenses incurred in defending any now pending legal or administrative proceeding,
not referenced in this Section 3, in which Employee is a named plaintiff, claimant or petitioner. Costs and expenses, for purposes
of this Section 3, shall include, but not be limited to, attorneys' fees and other legal costs.

 

 

    	 

    	 

    

 

Andrew Maslan

 

Separation
Agreement

March 30,
2013

 

		4.	Covenant Not to Sue and Release

 

4.1           Except
for the rights and obligations provided by or arising under this Agreement, Employee hereby releases, acquits, withdraws, retracts
and forever discharges any and all claims, manner of actions, causes of action, in law or in equity, suits, judgments, debts, liens,
contracts, agreements, promises, liabilities, demands, damages, losses, costs, expenses or disputes, known or unknown, fixed or
contingent, which he now has or may have hereafter, directly or indirectly, personally or in a representative capacity, against
Company, and its predecessors, successors, administrators, attorneys, fiduciaries, officers,
directors, shareholders, representatives, agents, employees, and all persons acting through or in connection with Company, by reason
of any act, omission, matter, cause or thing whatsoever, from the beginning of time to, and including, the Resignation Date. This
General Release includes, but is not limited to, all claims, manner of actions, causes of action in law or in equity, suits, judgments,
debts, liens, contracts, agreements, promises, liabilities, demands, damages, losses, costs, expenses or disputes, known or unknown,
fixed or contingent, which arise under the Employment Agreement; Title VII of the Civil Rights Act of 1964, as amended; The Age
Discrimination in Employment Act of 1967, as amended; The Americans with Disabilities Act; The Rehabilitation Act of 1973, as amended;
The Family and Medical Leave Act as amended; 42 U.S.C. ss.ss. 1981 through 1988, as amended; any federal, state or local statute
or ordinance, all as amended; common law claims of breach of contract, intentional or negligent infliction of emotional distress,
negligent hiring, breach of the covenant of good faith and fair dealing, promissory estoppel, negligence, wrongful termination
or employment, interference with prospective economic advantage, violation of civil rights and all other claims of any type or
nature including any claims for attorneys' fees. The parties intend that this release shall discharge all claims against the released
parties to the extent permitted by law.

 

4.2           Employee
represents and warrants that he has not heretofore assigned or transferred, or purported to assign or transfer, to any person or
entity, any claim that is a subject of this Agreement or any portion thereof or interest therein, and agrees to indemnify, defend,
and hold Company harmless from 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.

 

4.3           Nothing
in this Agreement is or should be construed as a release by Employee of, or an agreement by Employee not to sue on, any charges,
complaints, claims, liabilities, obligations, promises, agreements, controversies, damages, costs, losses, debts, or expenses arising
out of any matter, cause, acts, conduct, claims, or events which may occur after the Resignation Date.

 

4.4           Except
for the rights and obligations provided by or arising under this Agreement, the Company and its affiliates, and their respective
successors, and past, current and future fiduciaries, officers, directors, shareholders, administrators, agents, employees, and
assigns, hereby releases, acquits, withdraws, retracts and forever discharges any and all claims, manner of actions, causes of
action, in law or in equity, suits, judgments, debts, liens, contracts, agreements, promises, liabilities, demands, damages, losses,
costs, expenses or disputes, known or unknown, fixed or contingent, which he now has or may have hereafter, directly or indirectly,
personally or in a representative capacity, against the Employee by reason of any act, omission, matter, cause or thing whatsoever,
from the beginning of time to, and including, the Resignation Date.

 

4.5           The
Company agrees, to the maximum extent permitted by law and the Bylaws and Articles of Incorporation of the Company, as in effect
at such time or on the date of this Agreement to defend and indemnify the Employee against and to hold the Employee harmless from
any and all claims, suits, losses, liabilities, and expenses (including disputes arising under this Agreement and including reasonable
attorneys' fees and payment of reasonable expenses incurred in defending against such claim or suit as such expenses are
incurred) asserted against the Employee for actions taken or omitted to be taken by the Employee in good faith and within the scope
of his responsibilities as an officer or employee of the Company. If requested by the Employee, the Company shall advance to the
Employee, promptly following the Company's receipt of any such request, any and all expenses for which indemnification is
available hereunder, subject to the requirements of applicable law and the Company's Bylaws and Articles of Incorporation,
subject to the Employee's obligation to repay such advances if it is finally determined that he was not eligible for indemnification.

 

4.6           The
Company shall remove the Employee's name as registered agent, secretary and officer of the Company within a reasonable period
after the Resignation Date.

 

		5.	No Admission of Liability or Wrongdoing; Reference Inquiries

 

The
Company and Employee agree and acknowledge that this Agreement is the result of a compromise and shall never at any time for any
purpose be construed as an admission of any liability or wrongdoing on the part of any party. In the event that any person or entity
requests information regarding Employee's employment with the Company, the Company will inform the inquiring party that Employee's
employment with the Company ended by mutual agreement.

 

 

    	 

    	 

    

 

Andrew Maslan

 

Separation
Agreement

March 30,
2013

 

		6.	Affirmations; Covenants

 

6.1           The
Employee affirms that he has not filed, caused to be filed, or is party to any claim, complaint, or action against the Company
or any of its affiliates in any forum or form. The Employee further affirms that he has been paid and/or has received all leave
(paid or unpaid), compensation, wages, bonuses, commissions, and/or benefits to which he may be entitled and that no other leave
(paid or unpaid), compensation, wages, bonuses, commissions and/or benefits are due to him, except as provided in this Agreement.
For clarification, the Company shall pay the Employee his 2012 bonus, previously approved by the Board, in the amount of $52,500,
in accordance with customary payroll practices of the Company applicable to the Employee, on or prior to March 31, 2013. The Employee
furthermore affirms that he has no known workplace injuries or occupational diseases and has been provided and/or has not been
denied any leave requested under the Family and Medical Leave Act. The Employee represents that he is not aware of any facts on
which a claim under the Family and Medical Leave Act, the Fair Labor Standards Act, or under applicable state minimum wage, wage
payment, or leave laws, could be brought.

 

6.2           During
the term of Employee's employment by Company, Employee has acquired knowledge of confidential and proprietary information
regarding, among other things, Company's products and intellectual property, Company's present and future operations, its
current or potential customers, pricing strategies, its compensation and incentive programs for employees and the methods used
by Company and its employees. Employee hereby agrees that he shall not directly or indirectly use or disclose, any of the Company's
Trade Secrets, as defined hereinafter, that he may have acquired during the term of his employment. The term "Trade Secret"
as used in this Agreement shall mean information including, but not limited to, technical or non-technical data, a formula, a pattern,
a compilation, a program, a device, a method, a technique, a drawing, a process, financial data, financial plans, product plans,
or a list of actual or potential customers which derives economic value, actual or potential, from not being generally known to,
and not being readily ascertainable by proper means by, other persons who can obtain economic value from its disclosure or use;
and is the subject of reasonable efforts by the Company to maintain its secrecy.

 

6.3           The
Employee agrees not to defame, disparage or demean the Company or any of its affiliates, directly or indirectly (by implication
or otherwise) in any manner whatsoever. The Employee agrees to maintain and uphold the name and reputation of the Company and its
affiliates, and to refrain from engaging in any action or conduct negligently or intentionally undertaken to damage the name or
professional reputation of any of them. The Company's officers and directors agree not to defame, disparage, or demean Employee,
directly or indircctly (by implication or otherwise) in any manner whatsoever. The Company's officers and directors agree
to maintain and uphold the name and reputation of the Employee, and to refrain from engaging in any action or conduct negligently
or intentionally undertaken to damage his name or professional reputation.

 

6.4           The
Employee agrees to reasonably cooperate with the Company, to the extent his testimony is relevant, in any future administrative
proceedings or litigation brought against the Company by any U.S. or foreign regulatory agency, private party, former employees
or consultants of the Company.

 

6.5           For
twelve (12) months following the Resignation Date, the Employee will not directly or indirectly through another entity (x) induce
any employee of the Company to leave the Company's employ (unless the Board of Directors shall have authorized such employment
and the Company shall have consented thereto in writing) or in any way interfere with the relationship between the Company and
any employee thereof or (y) tortiously interfere with the Company's business relationship with any customer, supplier, licensee,
licensor or other business relation of the Company with whom Employee had contact or whose identity Employee learned as a result
of his employment by the Company. Employee further agrees that, should he be approached by a person who is or has been an employee
of the Company during the Employee's employment by the Company, the Employee will not offer to nor employ or retain as an
independent contractor or agent any such person for a period of twelve (12) following the Resignation Date.

 

6.6           Employee
agrees and acknowledges that, if a violation of any covenant contained in Section 6 occurs or is threatened, such violation or
threatened violation will cause irreparable injury to Company, that the remedy at law for any such violation or threatened violation
will be inadequate and that Company shall be entitled to appropriate equitable relief.

 

 

    	 

    	 

    

 

Andrew Maslan

 

Separation
Agreement

March 30,
2013

 

		7.	Property

 

The
Employee acknowledges that, with the exception of the Employee's work computer, which the Parties hereto had agreed that
the Employee shall retain following his termination, he has returned all property of the Company, including all documents, data,
computer discs, building access card and keys, financial information, customer lists, credit cards, keycards, employee identification
cards, pagers, remote computer access tokens, computers, programs, software and discs, including, but not by way of limitation,
those programs, software, and discs generated during the Employee's employment, and all other items which are the property
of the Company, or contain information which belongs to the Company or any of its affiliates. The Employee agrees that he will
not retain any copies, duplicates, reproductions or excerpts of any of the foregoing, in hard copy or on any personal computer
or portable data storage device. The Company acknowledges that it has returned all of the Employee's belongings.

 

		8.	Voluntary Agreement

 

8.1           Employee
represents and agrees that he has had a full and adequate opportunity to discuss and consider any claims against the Company. Further,
Employee represents and agrees that: (i) this Agreement is written in a manner that he understands; (ii) this Agreement and the
promises made in this Agreement by Employee are granted in exchange for the consideration which is granted to Employee in this
Agreement; (iii) Employee has been advised to and has had an opportunity to consult with an attorney prior to deciding whether
to enter into this Agreement; and (iv) Employee has been given at least twenty-one (21) days within which to consider this Agreement.
EMPLOYEE SHOULD CONSULT WITH AN ATTORNEY PRIOR TO SIGNING THIS AGREEMENT.

 

8.2           This
Agreement is executed with the full knowledge and understanding on the part of Employee that there may be more serious consequences,
damages or injuries, which are not now known, and that any payment or benefits conferred herein to Employee in consideration of
this Agreement are accepted as final. Employee further agrees and represents that it is within his contemplation that he may have
claims against Company of which, at the time of the execution of this Agreement, he has no knowledge or suspicion, but he agrees
and represents that this Agreement extends to all claims in any way based upon, connected with or related to the matters released
herein, whether or not known, claimed or suspected by him.

 

8.3           Company
and Employee represent and acknowledge that in executing this Agreement, they did not rely upon and have not relied upon any written
or oral representations or statements not expressly a part hereof that have been made by any party to this Agreement, or by the
agents, representatives, or attorneys of any party with regard to the subject matter, basis, or effect of'this Agreement.

 

8.4           Employee
is advised that he may revoke this Agreement within seven (7) days of signing it. Revocation must be made by delivering written
notice of the revocation to Martin P. Rosendale. If this Agreement is revoked by Employee in this seven (7) day period, the Agreement
will not be effective and enforceable as it relates to the Employee's resignation as Chief Financial Officer and Secretary of the
Company.

 

		9.	Miscellaneous

 

9.1           This
Agreement sets forth the complete and exclusivestatement of the terms of the agreement between the parties hereto and fully
supersedes any and all prior agreements (oral or in writing) or understandings between the parties hereto pertaining to the subject
matter hereof.

 

9.2           This
Agreement shall be binding upon and inure to the benefit of Employee and upon his heirs, administrators, representatives, executors,
and assigns. This Agreement shall be binding upon and inure to the benefit of Company and its successors, and past, current and
future fiduciaries, officers, directors, shareholders, administrators, agents, employees, and assigns.

 

9.3           The
interpretation, construction and performance of this Agreement shall be governed by and construed and enforced in accordance with
the internal laws of the State of Delaware without regard to any conflict of laws principles. The parties consent to the jurisdiction
of the state courts of Delaware for the resolution of any dispute, claim, or controversy arising or relating to this Agreement.

 

 

    	 

    	 

    

 

Andrew Maslan

 

Separation
Agreement

March 30,
2013

 

9.4           This
Agreement may be amended or modified only by a written instrument, signed by Company and Employee, that expressly sets forth the
parties' intention to amend or modify this Agreement. No condition, term, or provision of this Agreement may be waived by any party
except in writing, signed by the party or its authorized representative, that expressly sets forth the party's intention to waive
a condition, term or provision of this Agreement.

 

9.5           Should
any provision of this Agreement be declared or be determined by any court to be illegal or invalid, the validity of the remaining
parts, terms, or provisions shall be deemed not to be affected.

 

9.6           The
parties hereto agree and acknowledge that they have and will endeavor to implement the terms and conditions of this Agreement in
reasonable, good faith compliance with the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code")
and provisions of any applicable guidance published thereunder, including Notice 2005-1, the proposed regulations and the final
regulations issued under Section 409A of the Code. All payments and benefits provided for under this Agreement shall be made and
provided in a manner that is intended to comply with Section 409A of the Code, to the extent applicable. The Employee understands
and expressly agrees that he has relied on his own counsel, and has not relied on any tax or legal advice provided by the Company
in entering into this Agreement.

 

9.7           Company
represents and warrants that this instrument is a valid and binding corporate action and that the person executing this instrument
on behalf of Company is duly authorized to do so on behalf of the Company.

 

IN WITNESS
WHEREOF, the parties hereto knowingly and voluntarily executed this Agreement as of the date set forth below.

 

	Employee	 	Cytomedix, Inc.
	 	 	 	 	 
	/s/ Andrew Maslan	 	By:	/s/ Martin P. Rosendale
	 	 	 	 	 
	Date:	3/30/13	 	Date: 	3-30-2013Cytomedix,
    Inc.

209
Perry Parkway, Suite 7 Gaithersburg, MD 20877

Ph:
(240) 499-2680 Fax: (240) 499-2690 

www.cytomedix.com

 

March 30,
2013

 

Steven A. Shallcross

11020 Lance
Lane

Oakton, VA
22124

 

		Re:	Cytomedix,Inc. (the “Company”) –
Employment Letter

 

Dear Steven:

 

On
behalf of the Company, I am pleased to offer you the position of Executive Vice President, Chief Financial Officer, Secretary and
Treasurer of the Company and the following compensation and other benefits on the terms and conditions set forth in this letter
of Agreement and Exhibit A attached hereto and incorporated herein (the “Agreement”).

 

Subject
to the terms and conditions herein, the Company agrees to employ you as Executive Vice President, Chief Financial Officer, Secretary
and Treasurer, based in and around the Gaithersburg, MD area. By your acceptance of this Agreement, you accept employment in those
capacities commencing as of May 10, 2013 (the “Effective Date”). In those capacities, you shall report to the Company’s
Chief Executive Officer and shall have such reporting relationships to the Audit Committee and the Board of Directors as are required
by and set forth in the Company’s Bylaws, and rules and regulations applicable to the Company. You shall have the powers,
responsibilities, restrictions and authorities as are assigned to you by the Chief Executive Officer and/or the Board of Directors
and shall devote your full working time and efforts to the best of your ability, experience and talent to the performance of services,
duties and responsibilities as the Company’s Executive Vice President, Chief Financial Officer, Secretary and Treasurer.

 

You
also agree to provide the services set forth hereunder on a full-time basis and to devote all necessary time and attention to the
furtherance of the business and interests of the Company, and to perform your duties set forth herein diligently and promptly for
the benefit of Company, strictly and faithfully upholding the Company's policies. During your employment hereunder, you shall not,
without prior written consent of the Board, undertake or accept any other additional paid or unpaid employment, occupation or services
as a consultant or otherwise, or engage in or be associated with, directly or indirectly, any other businesses, duties or pursuits,
including without limitation, any academic occupation except for strictly de minimis non-commercial or non-business activities,
which do not affect the adequate performance of your obligations hereunder. Notwithstanding the above, you may serve on outside
public or private company boards. The Company acknowledges that any current outside activities have been disclosed.

 

You
agree to comply with all personnel policies and procedures of the Company as the same now exist or may be hereafter implemented
by the Company from time to time, including those policies contained in the Company’s employee manual or handbook which sets
forth policies and procedures generally for employees of the Company to the extent not inconsistent with this Agreement.

 

    	 

    	 

    

 

Shallcross, Steven

Letter of
Employment

March 30,
2013

 

Your
term of employment shall commence as of the Effective Date and continue until terminated by you or by the Company in accordance
with the notice provisions provided herein. Your employment with the Company will be “at will” and shall not be for
any specific term and may be terminated by you or the Company at any time.

 

You
shall receive a base salary (“Base Salary”) at the rate of $290,000 per annum during the term of your employment. The
Board shall review your annual Base Salary for potential increase each year. Any increase in Base Salary which has been approved
by the Board shall constitute “Base Salary” hereunder. Base Salary shall be payable in accordance with the ordinary
payroll practices of the Company. Payment of all compensation hereunder shall be subject to customary withholding tax and other
employment taxes as may be required under applicable rules and regulations.

 

In
the event your employment hereunder is terminated by the Company without Cause, as defined herein, for any reason and in the Company’s
sole and absolute discretion, you shall be entitled to receive and the Company shall pay you an amount equal to the one half (1/2)
of your Base Salary at an annual rate in effect immediately prior to the date of the termination of your employment) on the same
schedule and in the same manner as such payments would have been made in the absence of your termination, for a period of six (6)
months, and medical and dental benefits for a period of twelve (12) months, provided you execute a release of claims customary
in connection with terminations of this nature. For purposes of this Agreement, “Cause” shall mean: (i) the conviction
of employee of a crime involving an act or acts of dishonesty, fraud or moral turpitude by the employee, which act or acts constitute
a felony (including the unauthorized disclosure of confidential or proprietary material information of Company or an affiliate);
(ii)refused without proper reason to perform the duties and responsibilities required of him hereunder: or (iii)willfully
engaged in conduct that is, in the Board's determination, materially injurious to Company or its affiliates (monetarily or otherwise).
A determination that Cause exists as defined in clauses (i), (ii), or (iii) above of the preceding sentence shall be made by at
least a majority of the members of the Board of Directors. Furthermore, the foregoing events or conditions will not constitute
Cause unless Company provides Employee with written notice of the event or condition and fifteen (15) days to cure such event or
condition (if curable) and the event or condition is not cured within such 15-day period.

 

In
the event your employment hereunder is terminated by the Company with Cause, the Company shall pay all amounts then due to you
under the Base Salary and the Annual Bonus provisions of this Agreement for any portion of the payroll period worked and/or any
amounts earned but for which payment had not yet been made up to the date of termination, any unreimbursed business expenses and
any amounts to which you are entitled under the Company’s benefit plans in accordance with their terms, and, then the Company
shall have no further obligations to you under this Agreement.

 

In the event
of your termination of employment with the Company by you during a period of twelve (12) months following a “Change in Control”,
as defined herein, you shall be entitled to receive and the Company shall pay you an amount equal to 100% of your Base Salary at
an annual rate in effect immediately prior to the date of the termination of your employment on the same schedule and in the same
manner as such payments would have been made in the absence of your termination, and medical and denial benefits for a period of
twelve (12) months. In addition, in the event of your termination for Change in Control, any unvested grants under the Company's
Long-Term Incentive Plan, or any successor plan thereto, shall immediately become vested and non-forfeitable. For purposes of this
Agreement, “Change in Control” shall mean the occurrence of any of the following circumstances after the date hereof:
(i) any “person” (as such term is used in Section 13(d) or 14(d) of the Securities Exchange Act of 1934 (“Exchange
Act”)), other than a trustee or other fiduciary holding securities under an employee benefit plan of the Company or a corporation
or other entity owned directly or indirectly by the shareholders of the Company in substantially the same proportions as their
ownership of stock of the Company, shall have become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange
Act), directly or indirectly, of securities of the Company representing 40% or more of the combined voting power of the Company’s
then outstanding voting securities; (ii) the Company is a parry to a merger, consolidation, share exchange, sale of assets or other
reorganization, or a proxy contest, as a consequence of which members of the Company’s Board of Directors (“Board”)
in office immediately prior to such transaction or event constitute less than a majority of the Board thereafter; or (iii) during
any twelve (12) month period, individuals who at the beginning of such period constituted the Board (including for this purpose
any new director whose election or nomination for election by the Company’s shareholders was approved by a vote of at least
two-thirds (2/3) of the directors then still in office who were directors at the beginning of such period) cease for any reason
to constitute at least a majority of the Board.

 

    	 

    	 

    

 

Shallcross, Steven

Letter of
Employment

March 30,
2013

 

Upon
the conclusion of each Fiscal Year during the term of your employment, provided that the applicable Evaluation Criteria, as defined
herein, has been attained, you shall be entitled to receive an annual bonus in the amount of 40% of your Base Salary for the Fiscal
Year for which the annual bonus is to be determined (the “Annual Bonus”). The “Fiscal Year” is the
period beginning on each January 1 and ending on the following December 31. In order for you to receive the Annual Bonus, the Evaluation
Criteria as established by the Compensation Committee of the Board of Directors, in consultation with the Company's Chief Executive
Officer, for each respective Fiscal Year must be satisfied, such that the 80% portion of the Annual Bonus, if any, shall be based
upon the corporate financial performance during any given fiscal year as determined and set forth by the Board of Directors and
the remaining 20% - upon your individual performance goals. The Annual Bonus, if any, shall be paid to you in a lump sum, cash
amount, during the ninety (90) day period following the end of the Fiscal Year to which the Annual Bonus relates. If, before the
end of a Fiscal Year, your employment with the Company is terminated by the Company without cause, you shall be entitled to receive
a pro rata portion of the Annual Bonus that would have been earned, if any, if you had remained employed until the last day of
the Fiscal Year, such pro rata portion to be determined based upon the date of your termination of employment. If your employment
with the Company is terminated for any other reason before the end of a Fiscal Year, you will not have any right to receive an
Annual Bonus, or any portion thereof, for such Fiscal Year.

 

Immediately
upon execution of this Agreement, you shall receive options under the Company’s Long Term Incentive Plan to purchase 600,000 shares
of the Company’s common stock (the “Option Award”) at an exercise price equal to the closing sale price of the
common stock on the date the Company and you execute this Employment Letter. The options shall vest in equal installments of 200,000
options at each 12 month anniversary of the Board of Director’s approval of the Option Award, i.e. 200,000 options to vest
on March 30, 2014, 200,000 options - on March 30, 2015 and the remaining 200,000 options - on March 30. 2016, with any subsequent
annual grants to be determined by the Board of Directors in its sole discretion. The Option Award shall be evidenced by a separate
agreement between the Company and you, in form substantially similar to that presently used by the Company, the terms of which
will exclusively govern the Option Award.

 

The
Company shall pay or reimburse all reasonable travel and entertainment expenses incurred by you in connection with the performance
of your duties under this Agreement, including such travel as may be required or appropriate in your discretion, consistent with
duly approved Company budgets, to fulfill the responsibilities of your office, all in accordance with such policies and procedures
as the Company may from time to time establish for senior officers and as required to preserve any deductions for federal income
taxation purposes to which the Company may be entitled and subject to the Company’s normal requirements with respect to reporting
and documentation of such expenses.

 

You
will be eligible for medical, dental, life, and disability insurance, participation in the Company’s 401 (k) plan, and other benefits
available to all full-time employees, subject to any applicable length of employment requirements. You will also be entitled to
four (4) weeks per each calendar year of paid vacation in each calendar year, which may be taken at such times as are consistent
with your responsibilities hereunder.

 

    	 

    	 

    

  

Shallcross, Steven

Letter of
Employment

March 30,
2013

 

This
Agreement, including the attached Exhibit A, contains the entire understanding among the parties hereto and supersedes in
all respects any prior or other agreement or understanding among the parties with respect to your employment. If any provision
of this Agreement shall be declared to be invalid or unenforceable, in whole or in part, such invalidity or unenforceability shall
not affect the remaining provisions hereof which shall remain in full force and effect.

 

You
hereby represent and warrant to the Company that to the best of your knowledge: (i) the execution, delivery and performance of
this Agreement by you do not and shall not conflict with, breach, violate or cause a default under any contract, agreement, instrument,
order, judgment or decree to which you are a party or by which you are bound, (ii) you are not a party to or bound by any employment
agreement, non-compete agreement or confidentiality agreement with any other person or entity and (iii) upon the execution and
delivery of this Agreement by the Company, this Agreement shall be the valid and binding obligation of you, enforceable in accordance
with its terms. You hereby acknowledge and represent that you fully understand the terms and conditions contained herein.

 

Each
party hereto shall be solely responsible for any and all legal fees incurred by him or it in connection with this Agreement, including
the enforcement of this Agreement. This Agreement may only be amended by written agreement of the parties hereto.

 

This
Agreement shall be governed by and construed under the laws of the State of Delaware.

 

By
your signature below, you agree that this Agreement, including Exhibit
A, shall be binding upon and inure to the benefit of your heirs and representatives and the assigns and successors
of the Company, but neither this Agreement nor any rights or obligations hereunder shall be assignable or otherwise subject to
hypothecation by you or by the Company, except that the Company may assign this Agreement to any successor (whether by merger,
purchase or otherwise) to the stock, assets or business of the Company.

 

*****************************

 

	 	Very truly yours,
	 	 
	 	
        

        CYTOMEDIX, INC.

	 	 
	 	/s/ Martin P. Rosendale
	 	By:        Martin P. Rosendale, CEO
	 	Date:     3-30-2013

 

I have read and hereby accept the terms of this Agreement.

 

	/s/ Steven Shallcross	 
	Steven Shallcross	 
	 	 
	Date: 3/30/13	 

 

    	 

    	 

    

 

Exhibit
A

 

Addendum
to the Employment Letter

 

In
connection with the Agreement, Mr. Steven Shallcross (“Employee”) hereby agrees as follows:

 

(a)             Confidentiality.
The parties hereto recognize that a major need of the Company is to preserve its specialized knowledge, trade secrets, and confidential
information. The strength and good will of the Company is derived from the specialized knowledge, trade secrets, and confidential
information generated from experience with the activities undertaken by the Company and its affiliates. The disclosure of this
information and knowledge to competitors would be beneficial to them and detrimental to the Company, as would the disclosure of
information about the marketing practices, pricing practices, costs, profit margins, design specifications, analytical techniques,
and similar items of the Company and its affiliates. The Employee acknowledges that the proprietary information, observations and
data that will be obtained by him while employed by the Company concerning the business or affairs of the Company are the property
of the Company. By reason of him being a senior executive of the Company, the Executive has or will have access to, and has obtained
or will obtain, specialized knowledge, trade secrets and confidential information about the Company’s operations and the
operations of its subsidiaries, which operations extend throughout the United States. Employee shall not. without the prior written
consent of the Company, use, divulge, disclose or make accessible to any other person, firm, partnership, corporation or other
entity any Confidential Information (as defined below) pertaining to the business of the Company or any of its affiliates, except
(i) while employed by the Company, in the business of and for the benefit of the Company, or (ii) when required to do so by a court
of competent jurisdiction, by any governmental agency having supervisory authority over the business of the Company, or by any
administrative body or legislative body (including a committee thereof) with jurisdiction to order Employee to divulge, disclose
or make accessible such information. For purposes of this Exhibit A, "Confidential Information" shall mean non-public
information concerning the financial data, strategic business plans, product development (or other proprietary product data), customer
lists, marketing plans and other non-public, proprietary and confidential information of the Company or its affiliates (hereinafter
referred to as the “Protected Group”) or the Company's existing or potential customers. Confidential Information does
not include information which: (i) becomes generally available to the public, unless said Confidential Information was disclosed
in violation of a confidentiality agreement; or (ii)becomes available to Executive on a non-confidential basis from a source
other than the Company or its agents, provided that such source is not bound by a confidentiality agreement with the Company.

 

(b)             Non
-competition. During the period of Employee's employment hereunder and twelve (12)months thereafter (“Non-Competition
Period”), the Employee shall not. within any state or foreign jurisdiction in which the Company or any subsidiary of the
Company is then providing services or products or marketing its services or products (or engaged in active discussions to provide
such services), or within a 50-mile radius of any such state or foreign jurisdiction, directly or indirectly own any interest in.
manage, control, participate in. consult with, render services for. or in any manner engage in any Business Engaged In by the Company,
as defined herein, (unless the Board shall have authorized such activity and the Company shall have consented thereto in writing).
The term “Business Engaged In by the Company" shall mean any person or entity engaged in (i) the use of products or
technology similar to the Company’s platelet rich plasma platform technology, including the Angel® Whole Blood Separation
System and the AutoloGelTM System as well as the ALDH bright cell-based therapies, (ii) any use of products or technology competitive
with those which the Company is actively developing during the Term, or (iii) the direct competition with either (i) or (ii) above.
Investments in less than 5% of the outstanding securities of any class of a corporation subject to the reporting requirements of
Section 13 or Section 15(d) of the Securities Exchange Act of 1934, as amended, shall not be prohibited by this Section.

 

    	 

    	 

    

 

Shallcross,
Steven 

Letter of
Employment

March 30,
2013

 

Employee
and the Company agree that this covenant not to compete is a reasonable covenant under the circumstances, and further agree that
if in the opinion of any court of competent jurisdiction such restraint is not reasonable in any respect, such court shall have
the right, power and authority to excise or modify such provision or provisions of this covenant as to the court shall appear not
reasonable and to enforce the remainder of the covenant as so modified. Employee agrees that any breach of the covenants contained
in this Exhibit A would irreparably injure the Company. Accordingly, Employee agrees that the Company may, in addition to pursuing
any other remedies it or they may have in law or in equity, cease making any payments otherwise required by this Agreement and
obtain an injunction against Employee from any court having jurisdiction over the matter restraining any further violation of this
Agreement by Employee.

 

(c)             Non-disparagement.
Employee agrees that he will not, directly or indirectly, individually or in concert with others, engage in any conduct or make
any statement that is likely to have the effect of undermining or disparaging the reputation of the Company or any member of the
Protected Group, or their good will, products, or business opportunities, or that is likely to have the effect of undermining or
disparaging the reputation of any officer, director, agent, representative or employee, past or present, of the Company or any
member of the Protected Group. The Company agrees that it shall not, directly or indirectly, engage in any conduct or make any
statement that is likely to have the effect of undermining or disparaging the reputation of Employee.

 

(d)             Non-solicitation.
Employee agrees that for the term of his employment with the Company and for the period of twelve (12) months after the termination
of Employee’s employment with the Company, he shall not, except with the prior written consent of the Company signed by the
CEO, solicit, any persons or entities who are members of the Company as of the date of this Agreement or any persons or entities
who hereafter become members of the Company.

 

I have read and hereby accept the terms of this Exhibit A.

 

	/s/ Steven Shallcross	 
	Steven Shallcross	 
	 	 
	Date: 3/30/13

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