Document:

EX-4.1

 Exhibit 4.1 
  

			
	

		 51 Sawyer Rd., Suite 200
 Waltham, MA
02453
 phone 781-647-3900
 fax 781-647-3939

 March 19, 2015 

Mr. James F. Hinrichs 
 P.O. Box 7043 

Rancho Santa Fe, CA 92067 
 Re: Offer of Employment 

Dear Jim: 
 I am very pleased to extend to you this offer to
become a full-time employee of Alere, Inc. (the Company) as its Chief Financial Officer and Executive Vice President, based in our San Diego facility. In this position, you will also have responsibility for our IT and Procurement organizations. You
will report directly to the Company’s President and Chief Executive Officer (currently, Namal Nawana). Your start date of employment with the Company will be April 6th, 2015. Certain
terms if not otherwise defined below have the meanings provided to them in the attached Exhibit A. This offer contains the following terms: 
  

	 	•	 	A biweekly salary of $25,000, or $650,000 annualized. You will be eligible for a salary review in April 2016, and every year thereafter, consistent with the Annual Merit Process for the Executive Team.

  

	 	•	 	You will participate in the Company’s Corporate Incentive Plan, with an annual target bonus equal to 60% of annual base salary, with upside potential up to 75% of annual base salary. 

 

	 	•	 	You will also participate in the Company’s Annual Equity plan and annually be targeted to receive $2,000,000 in annual grant date value (as measured by U.S. GAAP). Such annual grant will utilize the same equity
instruments provided to other executives at the company In 2015, such grant will be via stock options, and it is anticipated that management will propose to the Compensation Committee in connection with the 2016 annual grant process that it consider
splitting awards in grant date value between restricted stock units and stock options (which will have a ten year exercise term, exercise price equal to the closing price of a Company share on the grant date and qualify as Internal Revenue Code
Section 422 Incentive Stock Options (ISOs) to the maximum extent permitted by United States tax law). Vesting for this grant shall be consistent with the vesting described in the Annual Equity plan, and consistent with that of other executives
i.e., 4 year vest, vesting quarterly each year. 

  

	 	•	 	 As an Inducement to join the Company, on the start date of your employment you will be granted a stock option to purchase 250,000 shares of Alere
common stock and also 50,000 Restricted Stock Units (RSUs) (each such RSU when vested shall be 

  
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		 51 Sawyer Rd., Suite 200
 Waltham, MA
02453
 phone 781-647-3900
 fax
781-647-3939

  

	 	 
then converted into one Company common share), provided that, with respect to the RSU only, the grant may be delayed until an registration statement on Form S-8 is filed and effective. The
option’s per share exercise price will be equal to the closing price of an Alere common share on the date of option grant. This option will vest in four equal annual installments on each of the first four anniversaries of your start date (and,
to the maximum extent permitted by United States tax law, this option will be an ISO). The RSUs will vest and be settled In three equal annual Installments on each of the first three anniversaries of your start date. Should your start date occur
after the public disclosure/filing date, and should the share price of ALR increase during that specific timeframe, the Company will pay you a sign-on bonus equal to the difference in value, payable in 3 equal yearly installments, beginning on
May 1, 2015 and subsequently on May 1, 2016 and May 1, 2017, assuming you are still employed at the Company. 

  

	 	•	 	Commencing with your start date, you shall earn and accrue 20 vacation days and 5 sick days per year. 

  

	 	•	 	Commencing with your start date, you shall be a party to the Alere Change of Control Severance Agreement attached hereto as Exhibit B. 

 

	 	•	 	You will also receive the standard benefits package available to all Company employees and also shall be eligible to participate in all benefits and compensation programs offered to Company officers. These benefits are
subject to periodic review and revision by the Company in its discretion. We will provide you separately with a package outlining the standard employee benefits. 

  

	 	•	 	Upon your termination of employment by the Company without Cause or by you for Good Reason (and in either case in which you do not receive severance benefits under the attached Charge of Control Severance Agreement) you
shall receive: (i) a cash lump sum payment within 30 days of your termination date in an amount equal to the sum of your annual base salary plus your annual target bonus, (ii) 12 months of continued medical group plan coverage for you and
your dependents with such medical plan premiums paid for by the Company, (iii) on your termination date, accelerated vesting for your then unvested equity compensation awards as if your termination date had occurred one year later;
(iv) payment of any unpaid bonus for a prior completed performance period; and (v) a pro-rated bonus for the year of termination based upon actual performance ultimately attained and with such payment occurring at the same time that the
bonus would have paid had your employment not been terminated. 

  

	 	•	 	 All equity compensation awards issued to you (including without limitation the RSUs and stock option grants referenced herein) shall be covered by an
effective registration statement filed with the Securities and Exchange Commission prior to issuance of shares thereunder registering either the shares, or the resale of the shares, acquired thereunder Our equity plans determine that all of your
then 

  
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		 51 Sawyer Rd., Suite 200
 Waltham, MA
02453
 phone 781-647-3900
 fax
781-647-3939

  

	 	 
unvested equity compensation awards shall fully vest if there is a change of control of the Company, or upon termination of your employment due to your death or disability. 

 

	 	•	 	Reasonable legal fees up to $5,000 incurred by you in connection with this offer letter agreement shall be paid by the Company within 30 days after the Company’s receipt of applicable invoices (and such invoices
shall be provided to the Company within 45 days after you have signed this offer letter). 

  

	•	 	During your employment and thereafter, you will be a beneficiary of the Company’s directors and officers errors and omissions liability insurance policies and will get mandatory indemnification under our by-laws.

 This offer is contingent on your executing the Company’s Nondisclosure, Noncompetition and Developments Agreement, attached hereto,
and on being able to provide proof of employability under United States immigration laws by satisfactorily submitting the documents required on the I-9 form enclosed In your new hire packet. 

Prior to your start date please submit documentation to establish your identity and employment eligibility. You will not be permitted to start your employment
until your employment eligibility is verified. This offer also is contingent on the successful completion of a background check. 
 You will be employed by
the Company on an at-will basis. This means that your employment Is for no specific period of time, and either you or the Company may terminate your employment at any time, with or without notice and with or without cause subject in all cases to the
terms of this letter agreement. This letter is not meant to be a contract of employment for any specific duration. Although your Job duties, title, compensation and benefits, as well as Company personnel policies and procedures, may change from time
to time, you agree (A) that the Company’s Nondisclosure, Noncompetition and Developments Agreement will continue to apply to you, and (B) the ‘at-will’ nature of your employment may only be changed in a document signed by
you and the President of the Company. This offer letter agreement shall be subject to, governed by, and interpreted In accordance with the laws of the State of California without regard to conflicts of laws principles. 

Jim, I am very much looking forward to working with you, and having you help us make Alere a great company. Please indicate your acceptance of this offer by
signing and dating one copy of this letter and returning the signed letter to me at your earliest convenience and no later than the earlier of March 22, 2015. 

  
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		 51 Sawyer Rd., Suite 200
 Waltham, MA
02453
 phone 781-647-3900
 fax
781-647-3939

  

	
	Sincerely,
	
	/s/ Namal Nawana
	Namal Nawana
	President and CEO, Alere, Inc.

 I hereby accept and agree to the above offer employment subject to the conditions set out above. 

 

					
	/s/ James F. Hinrichs				 3/19/15

	James F. Hinrichs				Date

  
 - 4 -Exhibit 10.1

 

AMENDMENT NO. 1 TO EMPLOYMENT SERVICES
AGREEMENT

 

This Amendment No. 1 to the Employment Services
Agreement (this “Amendment”), is entered into as of April 8, 2015, by and between Li3 Energy, Inc., a Nevada corporation
(the “Company”), and Luis Saenz (the “Executive” and, together with the Company, “the Parties”).

 

WITNESSETH:

 

WHEREAS, the Company and Executive
entered into an Employment Services Agreement dated as of August 24, 2011 (hereinafter the “Employment Agreement”);
and

 

WHEREAS, the Parties desire to amend
the Employment Agreement.

 

NOW, THEREFORE, the Parties hereto
agree to amend the Employment Agreement as follows, effective as of the date hereof:

 

1. Section 1 will be deleted in its entirety and replaced
with the following:

 

“Employment Period. The term of the Executive’s
employment by the Company pursuant to this Agreement (the “Employment Period”) shall continue until December
31, 2015 (the “Termination Date”). Unless the Parties agree in writing, prior to the Termination Date, to extend
the Executive’s term (any such successive term, the “Extended Term”), the Agreement shall automatically
terminate as of the Termination Date, without any further action by the Parties.” 

 

2.Section 3 shall be amended by deleting the entire
section following the first sentence (the provision to be replaced beginning with “Once the Board has established the Base
Salary”) and replacing it with the following:

 

“Notwithstanding the foregoing, (i)
from April 1, 2015, until June 30, 2015, Executive shall be paid a Base Salary equal to $125,000 per annum (or $10,416.67 per month)
and (ii) from July 1, 2015, until December 31, 2015, Executive shall be paid a Base Salary equal to $62,500 per annum (or $5,208.33
per month). The Base Salary shall be payable to Executive as follows: (x) from March 1, 2015 through March 31, 2015, eighty-five
percent (85%) in cash and fifteen percent (15%) in shares of common stock of the Company and (y) from April 1, 2015, through December
31, 2015, entirely in cash. If the Parties decide to enter into an Extended Term with the Executive, the Base Salary with respect
to calendar year 2016 must be set no later than December 5, 2015. Notwithstanding the foregoing, the Base Salary may be increased
at the Board’s sole discretion.”

 

3.Section 6(a) will be deleted in its entirety and replaced
with the following:

 

“Voluntary Resignation; Termination
without Cause. The Executive and the Company may terminate the Executive’s employment at any time upon thirty (30) days
prior written notice to the other Party. In the event of (i) the Executive’s voluntary termination of his employment, other
than with respect to any such voluntary termination pursuant to Section 6(e) hereof, or (ii) the termination by the Company of
the Executive’s employment without Cause, the Company shall have no obligation, except as otherwise required by this Agreement
or by applicable law, to make payments to the Executive or to provide the benefits described in Section 5, for periods after the
date on which the Executive’s employment with the Company terminates, except for the payment of the Base Salary due to the
Executive through the Termination Date.”

 

4. Section 6(c) shall be amended by deleting the reference
to “Severance Period (as defined below)” and replacing it with “period through the Termination Date”

 

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5.Section 6(e) will be deleted in its entirety and replaced
with the following:

 

“Payments upon Corporate Events.
In the event the Company terminates Executive’s employment by the Company or the Executive voluntary resigns within ninety
(90) days of the completion of a (i) tender offer by a third party for the ownership of 20% or more of the Company’s outstanding
securities, (ii) merger or consolidation by the Company with another entity (unless as a result of such merger or consolidation,
more than 80% of the outstanding voting securities of the surviving or resulting corporation shall be owned in the aggregate by
the shareholders of the Company, as of the time immediately prior to such transaction), (iii) sale of substantially all of the
Company’s assets or (iv) change in the composition of at least a majority of the members of the Board (each, a “Corporate
Event”), the Company shall (A) pay the Executive the Base Salary owed to the Executive through the Termination Date, in cash,
within ten (10) days of the termination date of Executive’s employment with the Company (the “Salary Payment”)
and (B) purchase all shares of common stock of the Company held by the Executive at the date of such Corporate Event, in cash,
within sixty (60) days of such Corporate Event, at a per share price equal to the greater of: (x) the closing price of the common
stock on the date immediately preceding the date of such Corporate Event, or (y) if applicable, the per-share purchase price paid
for by the acquiring Person in connection with such Corporate Event (the “Repurchase” and together with the Salary
Payment, the “Payments”). Notwithstanding the foregoing, no Payments under this Section 6(e) shall be required if such
Corporate Event was approved unanimously by the Board. For purposes of this Agreement, ownership of voting securities shall take
into account and shall include ownership as determined by applying the provisions of Rule 13d-3(d)(I)(i) (as in effect on the date
hereof) under the Securities Exchange Act of 1934, as amended. In addition, “Person” shall have the meaning given in
Section 3(a)(9) of the Securities Exchange Act of 1934, as amended, and as modified and used in Sections 13(d) and 14(d) thereof;
however, a Person shall not include (A) the Company or any of its Subsidiaries; (B) a trustee or other fiduciary holding securities
under an employee benefit plan of the Company or any of its Subsidiaries; (C) an underwriter temporarily holding securities pursuant
to an offering of such securities; or (D) a corporation owned, directly or indirectly, by the shareholders of the Company in substantially
the same proportion as their ownership of stock of the Company.” For the avoidance of doubt, the Executive shall resign all
positions he holds with the Company prior to receiving the Payments.

 

6.Section
7(a) shall be amended by deleting the reference to “Severance Period” and replacing it with “period through the
Termination Date”.

 

7.Section
14(a) will be deleted in its entirety and replaced with the following:

 

“to
the Company at:

 

Li3 Energy,
Inc.

Marchant
Pereira 150

Of. 802

Providencia,
Santiago, Chile

Attn: Board
of Directors

 

with a copy
to:

 

Ellenoff
Grossman & Schole LLP

1345 Avenue
of the Americas

New York,
NY 10105

Attn: Richard
I. Anslow

Fax: (212)
370-7889”

 

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8.In consideration
of the Amendment, the Company agrees to issue Executive 8,928,571 shares of common stock of the Company, such issuance to be effected
upon the execution of this Amendment.

 

9.The Parties hereby agree that, except as specifically
provided in and modified by this Amendment, the Employment Agreement is in all other respects hereby ratified and confirmed and
references to the Employment Agreement shall be deemed to refer to the Employment Agreement as modified by this Amendment.

 

[signature page follows]

 

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IN WITNESS WHEREOF, the undersigned have
executed this Amendment as of the day and year first written above.

 

	 	LI3 ENERGY, INC.
	 	 	 
	 	 	 
	 	By:   	/s/ Patrick Cussen
	 	      	Name: Patrick Cussen
	 	       	Title: Chairman of the Board
	 	 	 
	 	 	 
	 	EXECUTIVE
	 	 	 
	 	 	 
	 	/s/ Luis F. Saenz
	 	Luis F. Saenz

 

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