Document:

EX-10.1

 Exhibit 10.1 
  

 
 Ricci Whitlow 
 Leander, Texas
78641 
 Dear Ricci: 
 I am pleased to confirm our offer of
employment to you for the position of Chief Operating Officer (“COO”) on behalf of MiMedx Group, Inc. (“MiMedx” or “Company”), which employment is to commence on or before January 3, 2023. In this position you will
report directly to the Chief Executive Officer. 
 Your initial base salary will be $20,769 (gross before deductions) per biweekly pay period, which is
equivalent to the gross amount of $540,000 on an annualized basis. Your future salary adjustments will be in accordance with Company policy and based upon individual and Company performance. 

You will be eligible to participate in the MiMedx Group 2023 Management Incentive Plan (“MIP”) with an annual target bonus amount equal to fifty
percent (50%) of the annual base salary paid to you in accordance with the terms of such program in effect from time-to-time. Your 2023 MIP will be calculated based on
the achievement of board approved performance targets and metrics. 
 Additionally, we are providing you with a
one-time fifty thousand dollar ($50,000) sign on bonus which will be paid to you within your first 45 days of employment. Should you leave the company within your first year, you will be required to pay back
the full amount. 
 You will receive a new hire grant of 300% of your annual base salary in the form of Restricted Shares pending Board approval. These
shares will vest over three years annually. 
 Additionally, the Company has established a target annual long-term incentive value for each position
eligible to participate in the Company’s stock incentive program. You will be eligible to participate beginning in 2024. Awards granted under the annual long-term incentive plan typically will consist of Restricted Shares and Performance Shares
although the Company’s stock plan provides for other forms of stock-based compensation at the discretion of the Compensation Committee of the Board. The amount of long-term incentive value for your position of COO is reviewed and based on the
Company’ annual analysis of competitive compensation data. We anticipate 2024 structure for the COO to be similar to other executive roles that provided a total of 220% mix of RSUs and PSUs. Metrics for Performance Shares are determined
annually by the Compensation Committee. Shares will vest over three years annually. 

  

	
	

 The terms of your offer include the specific compensation arrangements described above, as well as certain
change in control and no cause separation benefits which would be payable in the event (i) of a change in control of the Company and within 12 months of such event your employment is involuntarily terminated or the voluntary termination of your
employment by you for good reason, or (ii) if your employment is involuntarily terminated, or (iii) a voluntary termination of your employment by you for good reason. These benefits will be described more fully and governed by a Key
Employee Retention and Restrictive Covenant Agreement, but shall be an amount not less than 1.25 times your base salary and target bonus for a no cause or good reason termination and not less than 1.5 times your base and target bonus for a no cause
or good reason termination within one year of a Change in Control. In each instance you shall be entitled to either benefit continuation for a period equal to the amount of the separation payment, i.e. 15 months or 18 months, or a cash payment equal
to the cost of such benefit continuation. 
 Should you decide to relocate to the Atlanta area at any time during your employment, the company will offer
relocation assistance. 
 You will be eligible to participate in the Company’s medical, dental, vision, life insurance, and disability benefits
programs the first day of the month following the date of your employment. Additionally, you will be entitled to four weeks of vacation annually to be taken and used in a manner consistent with the Company’s applicable vacation policy.
You will be eligible to participate in the MiMedx Group 401(k) Plan effective the first day of the month following the date of your employment. In addition, as an officer of the Company, you will be covered by the Company’s Director and
Officer Insurance and potentially other insurance policies as well as other benefits afforded to the Company’s officers, including indemnity rights under the then applicable program available to other executive officers and which program shall
among other things provide for the advancement of expenses in the event you are subject to a claim for which indemnification is allowed by the Company’s constituent documents or governing law. 

Each such benefit shall be provided in accordance with the terms of the applicable benefit plans, which may be revised at any time at the Company’s
discretion. A summary of the Company’s benefits is enclosed for your review. More detailed benefits eligibility and enrollment information will be sent to you shortly after you begin employment. 

This offer is contingent upon a favorable background investigation and pre-employment drug screen result. MiMedx has
contracted with Sterling (a leading consumer reporting agency) to perform a background investigation in connection with your employment. You will receive an email from Sterling, on behalf of MiMedx, that will request an electronic consent. In
addition to this consent, you will need to review multiple separate documents including a standalone disclosure and sign your authorization to have a background check initiated. Once your Drug screening order is created, it must be completed
within 48 hours of the Company’s receipt of your executed consent for background screening.

  

	
	

 The Company is committed to the highest standards of integrity and to treating its customers, employees,
fellow workers, business partners and competitors in good faith and fair dealing. We expect employees to share the same standard and values. By accepting this offer, you agree that throughout your employment, you will observe all of the
Company’s rules governing conduct of its business and employees, including its policies protecting employees from illegal discrimination and harassment, as those rules and policies may be amended from time to time. 

Ricci, we are delighted to extend this offer to you and look forward to an exciting and mutually rewarding business association. We look forward to your
joining MiMedx. Please feel free to contact me via email or on my cell phone at 301-660-0592 if you have any questions. 

Sincerely, 
 Kate Surdez 

	cc:	 Todd Newton 

ACCEPTANCE 
 I have read and
understand the foregoing which constitutes the entire and exclusive agreement between the Company and the undersigned and supersedes all prior or contemporaneous proposals, promises, understandings, representations, conditions, oral or written,
relating to the subject matter of this agreement. I understand and agree that my employment is at-will and is subject to the terms and conditions contained herein. 

 

			
	Ricci Whitlow    	  	Datefssn_ex101.htm

EXHIBIT 10.1
  
 AMENDED DIRECTOR AGREEMENT
  
 This AMENDED DIRECTOR AGREEMENT (the "Agreement") is dated September 18, 2022 by and between FISION CORPORATION, a Delaware corporation (the "Company"), and JOHN BODE, an individual resident of the State of Florida (the "Director"). This Agreement amends the prior agreement between Mr. Bode and the Company dated March 1, 2022 as it relates to him serving as an independent Director of the Company.
  
 WHEREAS, the Mr. Bode has served as a Director or the Company since March 1, 2018 and the Company desires to enter into an agreement with the Director with respect to such appointment as Director and interim Chief Executive Officer for the period September 18, 2022 through December 31, 2022; and
  
 WHEREAS, the Director is willing continue to serve the Company on the terms set forth herein and in accordance with the provisions of this Agreement.
  
 NOW, THEREFORE, in consideration of the mutual covenants contained herein, the parties hereto agree as follows:
  
 1. Position. Subject to the terms and provisions of this Agreement, the Company has caused the Director to be appointed, and the Director hereby agrees to serve the Company as its Interim Chief Executive Officer upon the terms and conditions hereinafter set forth, provided, however, that the Director's continued service on the Board of Directors of the Company (the "Board") and.
  
 2. Duties.
  
 (a) During the Term (as defined herein), the Director make reasonable business efforts to attend all Board meetings and quarterly pre-scheduled Board and Committee meetings of the Board, and Management conference calls, serve on appropriate subcommittees as reasonably requested and agreed upon by the Board, make himself available to the Board at mutually convenient times and places, attend external meetings and presentations when agreed on in advance, as appropriate and convenient and perform such duties, services and responsibilities, and have the authority commensurate to such position.
  
 (b) The Director will use his best efforts to promote the interests of the Company. The Company recognizes that the Director (i) is or may perform work for another entity and (ii) sits or may sit on the board of directors of other entities, subject to any limitations set forth by the Sarbanes-Oxley Act of 2002 and limitations provided by any exchange or quotation service on which the Company's common stock is listed or traded. Notwithstanding the same, the Director will provide the Company with prior written notice of any future commitments to such entities and use reasonable business efforts to coordinate his respective commitments so as to fulfill his obligations to the Company and, in any event, will fulfill his legal obligations as a Director and interim Chief Executive Officer. Other than as set forth above, the Director will not, without the prior notification to the Board, engage in any other business activity which could materially interfere with the performance of his duties, services and responsibilities hereunder or which is in violation of the reasonable policies established from time to time by the Company, provided that the foregoing shall in no way limit his activities on behalf of (i) any current employer and its affiliates or (ii) the board of directors of any entities on which he currently sits. At such time as the Board receives such notification, the Board may require the resignation of the Director if it determines that such business activity does in fact materially interfere with the performance of the Director's duties, services and responsibilities hereunder.
  
 3. Compensation.
  
 (a) Stock. For the four month period from September 1 to December 31, the Director shall receive $12,500 in the form of either restricted common stock of the Company calculated at the greater of the closing stock price on each of the quarterly anniversary dates listed or $0.05; or, preferred stock of the Company based on a $1 par value. The decision to provide the compensation as Restricted Common Stock or Preferred Stock shall be at the Company’s option. Notwithstanding the foregoing, if the Director is no longer a member of the Board at quarterly grant dates for any reason (such as resignation, withdrawal, death, disability or any other reason), then any non-issued shares shall be irrefutably forfeited. Furthermore, the Director agrees that the shares shall be subject to any reasonable restrictions as determined by the Board of Directors of the Company related to the sale or transfer of those shares.
  
 (b) Independent Contractor. The Director's status during the Directorship Term shall be that of an independent contractor and not for any purpose, that of an employee or agent with authority to bind the Company in any respect. All payments and other consideration made or provided to the Director under this Section 3 shall be made or provided without withholding or deduction of any kind, and the Director shall assume sole responsibility for discharging all tax or other obligations associated therewith.
  
  	 
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 (c) Expense Reimbursements. During the Directorship Term, the Company shall reimburse the Director for all reasonable out-of-pocket expenses incurred by the Director in attending any in-person meetings, provided that the Director complies with the generally applicable policies, practices and procedures of the Company for submission of expense reports, receipts or similar documentation of such expenses.
  
 4. Directorship Term. The "Directorship Term" as used in this Agreement shall mean the period commencing on the January 1, 2022 and terminating on the earliest of the following to occur: (a) the death of the Director; (b) the termination of the Director from his membership on the Board by the mutual agreement of the Company and the Director; (c) the removal of the Director from the Board by the majority stockholders of the Company; and (d) the resignation by the Director from the Board.
  
 5. Director's Representation and Acknowledgment. The Director represents to the Company that his execution and performance of this Agreement shall not be in violation of any agreement or obligation (whether or not written) that he may have with or to any person or entity, including without limitation, any prior or current employer. The Director hereby acknowledges and agrees that this Agreement (and any other agreement or obligation referred to herein) shall be an obligation solely of the Company, and the Director shall have no recourse whatsoever against any stockholder of the Company or any of their respective affiliates with regard to this Agreement.
  
 6. Directorship Covenants.
  
 (a) Unauthorized Disclosure. The Director agrees and understands that in the Director's position with the Company, the Director has been and will be exposed to and receive information relating to the confidential affairs of the Company, including, but not limited to, technical information, business and marketing plans, strategies, customer information, other information concerning the Company's products, promotions, development, financing, expansion plans, business policies and practices, and other forms of information considered by the Company to be confidential and in the nature of trade secrets. The Director agrees that during the Directorship Term and thereafter, the Director will keep such information confidential and will not disclose such information, either directly or indirectly, to any third person or entity without the prior written consent of the Company; provided, however, that (i) the Director shall have no such obligation to the extent such information is or becomes publicly known or generally known in the Company's industry other than as a result of the Director's breach of his obligations hereunder and (ii) the Director may, after giving prior notice to the Company to the extent practicable under the circumstances, disclose such information to the extent required by applicable laws or governmental regulations or judicial or regulatory process. This confidentiality covenant has no temporal, geographical or territorial restriction. Upon termination of the Directorship Term, the Director will promptly return to the Company and/or destroy at the Company's direction all property, keys, notes, memoranda, writings, lists, files, reports, customer lists, correspondence, tapes, disks, cards, surveys, maps, logs, machines, technical data, other product or document, and any summary or compilation of the foregoing, in whatever form, including, without limitation, in electronic form, which has been produced by, received by or otherwise submitted to the Director in the course or otherwise as a result of the Director's position with the Company during or prior to the Directorship Term, provided that the Company shall retain such materials and make them available to the Director if requested by him in connection with any litigation against the Director under circumstances in which (i) the Director demonstrates to the reasonable satisfaction of the Company that the materials are necessary to his defense in the litigation and (ii) the confidentiality of the materials is preserved to the reasonable satisfaction of the Company.
  
 (b) Non-Solicitation. During the Directorship Term and for a period of three (3) years thereafter, the Director shall not interfere with the Company's relationship with, or endeavor to entice away from the Company, any person who, on the date of shall not interfere with the termination of the Directorship Term and/or at any time during the one year period prior to the termination of the directorship Term, was an employee or customer of the Company or otherwise had a material business relationship with the Company.
  
 (c) Non-Compete. The Director agrees that during the Directorship Term and for a period of Three (3) years thereafter, he shall not in any manner, directly or indirectly, through any person, firm or corporation, alone or as a member of a partnership or as an officer, director, stockholder, investor or employee of or consultant to any other corporation or enterprise; engage in the business of developing, marketing, selling or supporting technology to or for businesses in which the Company engages in or in which the Company has an actual intention, as evidenced by the Company's written business plans, to engage in, within any geographic area in which the Company is then conducting such business. Nothing in this Section 6 shall prohibit the Director from being (i) a stockholder in a mutual fund or a diversified investment company or (ii) a passive owner of not more than three percent of the outstanding stock of any class of securities of a corporation, which are publicly traded, so long as the Director has no active participation in the business of such corporation.
  
  	 
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 (d) Insider Trading Guidelines. Director agrees to execute the Company's Insider Trading Guidelines in the form attached hereto.
  
 (e) Remedies. The Director agrees that any breach of the terms of this Section 6 would result in irreparable injury and damage to the Company for which the Company would have no adequate remedy at law; the Director therefore also agrees that in the event of said breach or any threat of breach, the Company shall be entitled to an immediate injunction and restraining order to prevent such breach and/or threatened breach and/or continued breach by the Director and/or any and all entities acting for and/or with the Director, without having to prove damages or paying a bond, in addition to any other remedies to which the Company may be entitled at law or in equity. The terms of this paragraph shall not prevent the Company from pursuing any other available remedies for any breach or threatened breach hereof, including, but not limited to, the recovery of damages from the Director. The Director acknowledges that the Company would not have entered into this Agreement had the Director not agreed to the provisions of this Section 6.
  
 (f) The provisions of this Section 6 shall survive any termination of the Directorship Term, and the existence of any claim or cause of action by the Director against the Company, whether predicated on this Agreement or otherwise, shall not constitute a defense to the enforcement by the Company of the covenants and agreements of this Section 6.
  
 7. Indemnification. The Company agrees to indemnify the Director for his activities as a member of the Board to the fullest extent permitted under applicable law and shall use its best efforts to get Directors and Officers Insurance benefitting the Board, within one year of the Effective Date of this Agreement.
  
 8. Non-Waiver of Rights. The failure to enforce at any time the provisions of this Agreement or to require at any time performance by the other party hereto of any of the provisions hereof shall in no way be construed to be a waiver of such provisions or to affect either the validity of this Agreement or any part hereof, or the right of either party hereto to enforce each and every provision in accordance with its terms. No waiver by either party hereto of any breach by the other party hereto of any provision of this Agreement to be performed by such other party shall be deemed a waiver of similar or dissimilar provisions at that time or at any prior or subsequent time.
  
 9. Notices. Every notice relating to this Agreement shall be in writing and shall be given by personal delivery or by registered or certified mail, postage prepaid, return receipt requested; to:
  
 If to the Company: FISION Corporation
 Email: mike.brown@fisiononline.com
  
 If to the Director:
 John Bode
 9086 The Lane
 Naples, Florida 34109
 Email: jbode@eagleknoll.com
  
 Either of the parties hereto may change their address for purposes of notice hereunder by giving notice in writing to such other party pursuant to this Section 9.
  
 10. Binding Effect/Assignment. This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, executors, personal representatives, estates, successors (including, without limitation, by way of merger) and assigns. Notwithstanding the provisions of the immediately preceding sentence, neither the Director nor the Company shall assign all or any portion of this Agreement without the prior written consent of the other party.
  
  	 
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 11. Entire Agreement. This Agreement (together with the other agreements referred to herein) sets forth the entire understanding of the parties hereto with respect to the subject matter hereof and supersedes all prior agreements, written or oral, between them as to such subject matter.
  
 12. Severability. If any provision of this Agreement, or any application thereof to any circumstances, is invalid, in whole or in part, such provision or application shall to that extent be severable and shall not affect other provisions or applications of this Agreement.
  
 13. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Minnesota, without reference to the principles of conflict of laws. All actions and proceedings arising out of or relating to this Agreement shall be heard and determined in any court in Hennepin County, Minnesota and the parties hereto hereby consent to the jurisdiction of such courts in any such action or proceeding; provided, however, that neither party shall commence any such action or proceeding unless prior thereto the parties have in good faith attempted to resolve the claim, dispute or cause of action which is the subject of such action or proceeding through mediation by an independent third party.
  
 14. Legal Fees. The parties hereto agree that the non-prevailing party in any dispute, claim, action or proceeding between the parties hereto arising out of or relating to the terms and conditions of this Agreement or any provision thereof (a "Dispute"), shall reimburse the prevailing party for reasonable attorney's fees and expenses incurred by the prevailing party in connection with such Dispute; provided, however, that the Director shall only be required to reimburse the Company for its fees and expenses incurred in connection with a Dispute if the Director's position in such Dispute was found by the court, arbitrator or other person or entity presiding over such Dispute to be frivolous or advanced not in good faith.
  
 15. Modifications. Neither this Agreement nor any provision hereof may be modified, altered, amended or waived except by an instrument in writing duly signed by the party to be charged.
  
 16. Tense and Headings. Whenever any words used herein are in the singular form, they shall be construed as though they were also used in the plural form in all cases where they would so apply. The headings contained herein are solely for the purposes of reference, are not part of this Agreement and shall not in any way affect the meaning or interpretation of this Agreement.
  
 17. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed to be an original but all of which together shall constitute one and the same instrument.
  
 IN WITNESS WHEREOF, the Company has caused this Independent Director Agreement to be executed by authority of its Board of Directors, and the Director has hereunto set his hand, on the day and year first above written.
  
  	FISION CORPORATION	 	DIRECTOR	 
	  
	  
	  
	  

	/s/ Michael Brown	 	/s/ John Bode	 
	 Michael Brown 
	 	John Bode	 

 
  
  	 
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