Document:

Exhibit 1035

		

			Exhibit 10.35

		

		

			 

		

		
			SEPARATION AGREEMENT AND GENERAL RELEASE
		

		
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			This Separation Agreement and General Release (“Agreement”) is entered into by you, Matthew J. Stevenson, on behalf of yourself, your heirs, executors, administrators, successors, assigns and anyone else who may sue on your behalf (collectively, “you”) and The ServiceMaster Company, LLC, on behalf of itself, past and present subsidiaries, parent companies, affiliated entities, predecessors, successors, assigns, and their respective past and present officers, directors, employees, insurers and agents (collectively, “Company” or “ServiceMaster”).  In consideration of the mutual covenants in this Agreement, the parties hereby agree as follows:
		

		
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			1.    Separation from Employment:  Your employment at ServiceMaster will end, effective October 31, 2019 (“Separation Date”) and you will no longer hold any other position as officer or director with ServiceMaster or any of its subsidiaries or affiliates.
		

		
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			2.    Severance Benefits.  In exchange for your promises as set forth in this Agreement, and subject to your compliance with the terms and conditions hereof, ServiceMaster agrees to provide you with the following severance benefits:
		

		
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			a.    Severance Pay.  You will receive severance pay in the total gross amount of $461,250.00, which equals your current annual base salary.  The severance pay will be paid in 24 equal semi-monthly installments. The severance payments will commence on the first practicable regularly scheduled pay date after the Effective Date (defined below).
		

		
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			b.    Annual Bonus.  You will be eligible for a bonus payout under the ServiceMaster 2019 Annual Incentive Plan, which will be prorated based on your Separation Date and calculated based on Plan funding approved by the Board of Directors reflecting the Company’s achievement of financial targets during the Plan year.  Any bonus payout will be subject to the terms and conditions of the Plan and paid to you when paid to active employees who participate in the Plan, which is expected to be on or before March 15, 2020
		

		
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			c.    Career Transition Assistance/Executive Coaching.  The Company will pay for up to one year of career transition services on your behalf at a cost not to exceed $75,000.  You may choose your own career transition service provider, subject to approval by the Company which shall not be unreasonably withheld.  If you wish to initiate career transition services, you must do so within 60 days of your Separation Date.  In addition, the Company will continue to provide you with the executive coaching program in place during your employment until December 31, 2019.
		

		
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			d.    Health Insurance Transition Payment.  You will receive a one-time lump sum payment of $7,100.00, which approximates your premiums for COBRA continuation coverage for 12 months based on your current benefit elections.  You may use this payment to cover COBRA premiums or as you otherwise see fit.  This supplemental payment will be “grossed-up” for tax purposes so you receive the full amount after payroll tax deductions and withholdings.
		

		
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			Except as otherwise expressly specified in this Agreement, the compensation set forth in paragraph 2 above represents all of the amounts you will be entitled to receive from the Company and you will not be paid any other compensation or benefits.  In addition to any other remedies which may be available at law, the Company may suspend, cancel and/or seek the refund of any payments contemplated by this Agreement upon any violation by you of any representation, warranty or covenant set forth herein.
		

		
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			3.    Other Benefits. Upon separation of employment, you may be eligible for payout or benefits under the following policies, compensation plans and benefit plans, even if you do not sign this Agreement:
		

		
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			a.    Group Health Insurance.  If you participate in or are eligible to participate in the ServiceMaster Health and Welfare Benefit Plan, your eligibility to participate will end on your last day of employment. You will become eligible for continuation of coverage under the Consolidated Omnibus Budget 
		

		 

 

		
		

		
			Reconciliation Act (“COBRA”) on the first day following the last day of employment.  You are solely responsible for the payment of any premiums for COBRA coverage.
		

		
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			b.    Accrued unpaid wages.  You will be paid any accrued,  unpaid wages through your Separation Date (including any accrued, unused vacation time as reflected in ServiceMaster’s HRIS system) on the first regularly scheduled pay date following your Separation Date or within the time period required by applicable law.
		

		
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			c.    PSRP.  If you participate in the ServiceMaster Profit Sharing and Retirement Plan (“PSRP”), your eligibility to participate will end on your Separation Date.  Any Company match credited to your account will follow the PSRP’s vesting schedules.  Any amounts to be paid, distributed, rolled over, or held under the PSRP will be paid, distributed, rolled over, or held in accordance with the terms of the PSRP and applicable rules and regulations.
		

		
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			d.    DCP.  If you participate in the ServiceMaster Deferred Compensation Plan (“DCP”), your eligibility to participate in the DCP will end on your Separation Date. Any balance in your DCP account will be distributed or held in accordance with your prior elections, subject to the terms of the DCP and applicable rules and regulations. 
		

		
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			e.    Stock Plans.  If you participate in any ServiceMaster stock plans, including the ServiceMaster Employee Stock Purchase Plan, the Amended and Restated ServiceMaster Global Holdings, Inc. Stock Incentive Plan, as amended and restated as of October 25, 2012 (“MSIP”), the Amended and Restated ServiceMaster Global Holdings, Inc. 2014 Omnibous Incentive Plan, as amended and restated as of April 27, 2015, and/or the ServiceMaster Global Holdings, Inc. Employee Stock Purchase Plan, any account balances, stock options, restricted stock units or other equity owned by you as of your Separation Date are subject to the terms and conditions of the applicable stock plans.  This Agreement does not change the terms of those plans.
		

		
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			4.    Release and Covenant Not to Sue.  
		

		
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			a.    Release:  In exchange for the consideration provided to you in this Agreement, you hereby release and forever discharge ServiceMaster, its past and present parent entities, subsidiaries, divisions, limited partnerships, affiliated corporations, successors and assigns,  as well as their respective past and present directors, managers, officers, partners, agents, employees, insurers, attorneys, servants, and each of them, separately and collectively (“Releasees”), from any and all known and unknown claims, charges, complaints, liens, demands, causes of action, obligations, damages and liabilities, known or unknown, suspected or unsuspected, whether or not mature or ripe (“Claims”), that you ever had and now have against any of the Releasees,  including, but not limited to, Claims arising out of or in any way related to your employment with or separation from the Company.  This includes, but is not limited to, Claims based on statutes, torts, contracts and common law, Claims for discrimination, wrongful discharge, harassment, retaliation, and unpaid wages, Claims arising under Title VII of the Civil Rights Act of 1964, the Fair Labor Standards Act (“FLSA”), Family Medical Leave Act (“FMLA”),  the Americans with Disabilities Act, the Age Discrimination in Employment Act, the Worker Adjustment and Retraining Notification Act, the Employee Retirement Income Security Act, and any applicable federal, state or local law or regulation governing the employment relationship. You understand that this Agreement includes a release of all known and unknown claims through the Effective Date.    
		

		
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			Notwithstanding the foregoing, you do not release any rights you may have to indemnification and advancement from and by the Company, to the extent in existence as of the date hereof pursuant to the Company's bylaws, and such right to indemnification and advancement shall survive the termination of you employment in accordance with such bylaws and applicable law.  By way of clarification, if you are entitled to indemnification and advancement pursuant to the bylaws, such "advancement" shall include the advancement to you of such sums as may be necessary to defend the matter, including reasonable retainer and attorney's fees, costs, and expenses, as they become due.”
		

		

		

		 

		

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			b.    Limitation of Release:  Nothing in this Agreement will prohibit you from filing a charge of discrimination with the National Labor Relations Board, the Equal Employment Opportunity Commission (“EEOC”) or an equivalent state civil rights agency.  Further, nothing in this Agreement shall be construed to waive any right that is not subject to waiver by private agreement under federal, state or local employment or other laws, such as claims for workers’ compensation or unemployment benefits or any claims that may arise after the Effective Date.
		

		
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			c.    Covenant Not To Sue.  To the extent that any Claims covered by the scope of the release herein are not subject to waiver by this Agreement under applicable law (including, without limitation, any Claims arising under or related to FMLA, FLSA, and any other local, state or federal statute governing employment and/or the payment of wages and benefits), you hereby covenant and agree not to sue or otherwise seek any remedy or other form of relief against any of the Releasees relating to such Claims.
		

		
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			d.    Representations: You represent that you (i) have been provided all benefits due under the Family and Medical Leave Act and any applicable state or local law; (ii) have received all wages due, including any overtime pay, bonus pay and commissions; (iii) that you have received all meals and rest breaks to which you were entitled under the Fair Labor Standards Act and any applicable state and local law; and (iv)  that you have not had any work-related accidents or injuries that you have not previously reported in writing to the Company.
		

		
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			5.    Confidential Information.  You acknowledge and agree that (a) you have not used or disclosed any Confidential Information other than as necessary in the ordinary course of performing your duties as a ServiceMaster employee for the benefit of ServiceMaster, and (b) you will keep in confidence and trust all Confidential Information known to you, and will not use or disclose such Confidential Information without the prior written consent of ServiceMaster.  As used in this Agreement, “Confidential Information” means (a) all trade secrets, proprietary information, business techniques and processes, technical know-how and other non-public information (including customer, supplier, marketing and financial information) used by the Company in connection with its business operations; (b) non-public business information obtained from customers, franchisees, suppliers, contractors and other business partners; and (c) private personnel information.  Nothing in this Agreement precludes you from (a) making any report or disclosure to a government agency to the extent required or protected by statute, regulation or other applicable law; or (b) testifying truthfully in any legal proceedings to the extent compelled by a valid subpoena. 
		

		
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			Pursuant to the Defend Trade Secrets Act, 18 USC §§ 1831-39, you are hereby noticed as follows: An individual may not be held criminally or civilly liable under any federal or state trade secret law for disclosure of a trade secret: (a) made in confidence to a government official, either directly or indirectly, or to an attorney, solely for the purpose of reporting or investigating a suspected violation of law; and/or (b) in a complaint or other document filed in a lawsuit or other proceeding, if such filing is made under seal. Additionally, an individual suing an employer for retaliation based on the reporting of a suspected violation of law may disclose a trade secret to his or her attorney and use the trade secret information in the court proceeding, so long as any document containing the trade secret is filed under seal and the individual does not disclose the trade secret except pursuant to court order.
		

		
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			6.    Restrictive Covenants.  For a period of 12 months following your Separation Date, you shall not, either personally or in concert with any other person (a) induce or encourage any ServiceMaster employee to terminate his/her employment or seek employment or association with any other person, business or entity; (b) own (other than as a passive shareholder of less than 1% of publicly traded stock), manage, operate, become employed by or provide service to any company that competes with ServiceMaster; (c)  solicit or sale any product or service in competition with ServiceMaster to any person, business or other entity that is a customer of ServiceMaster; or (d) interfere with ServiceMaster’s relations with any of its customers, franchisees, subcontractors, consultants, vendors or business partners.    This Agreement is in addition to and does not supersede any other agreements prohibiting non-interference or competition with ServiceMaster.
		

		

		

		 

		

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			7.    Code of Conduct.  You have previously been provided or had access to the Company’s Code of Conduct (the “Code”).  In the event that the Company discovers any facts after its execution of this Agreement showing that you have violated the Code, the Company shall be entitled to exercise any and all available legal remedies, including the suspension and recoupment of any payments made or due under this Agreement and any other agreements between the parties.
		

		
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			8.    Return of ServiceMaster Property.  You agree to return to ServiceMaster all ServiceMaster property, equipment and materials, including, but not limited to, any company vehicle, any laptop computer and peripherals; any cell phone or other portable computing device; any telephone calling cards; keys; ServiceMaster identification card; any credit or fuel cards; and all tangible written or graphic materials (and all copies) relating in any way to ServiceMaster or its business, including, without limitations, documents, manuals, customer lists and reports, as well as all data contained on computer files, “thumb” drives, “cloud” services, or other data storage device, or home or personal computers.   
		

		
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			9.    Assistance.  You agree to provide information to ServiceMaster as requested to help transition your job duties and to cooperate fully with the Company and its counsel with respect to any claims, investigations, legal proceedings or other matters relating to your employment or about which you have knowledge.  You further agree to notify ServiceMaster’s General Counsel or designee immediately in the event you are asked to assist or supply information to any person or entity regarding any such matters.  The Company will reimburse you for any reasonable out-of-pocket expenses incurred by you in providing any requested assistance pursuant to this Agreement; provided that any such expenses must be authorized in advance by the Company’s chief executive officer or general counsel.  In the event you are requested or required to participate as a witness in a lawsuit against the Company, to the extent that you are entitled to indemnification under the Company’s bylaws or applicable law, the Company will reimburse you for reasonable attorneys’ fees and expenses you incur.
		

		
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			10.    Non-Disparagement.  You agree that you will refrain from taking actions or making statements, written or oral, which criticize, disparage or defame the business, goodwill or reputation of ServiceMaster (including its products and services), its directors, officers, executives, subsidiaries, parent entities, and/or employees or making statements which could adversely affect the morale of other employees.  You agree to direct any prospective employers seeking to verify your employment data to The Work Number (www.theworknumber.com), an on-line employment verification service operated by Equifax Workforce Solutions. Similarly, the Company shall instruct its chief executive officer and members of the executive leadership team not to make any statements to third parties that criticize, disparage or defame you.  Nothing in this Agreement precludes you or the Company from (a) making any report or disclosure to a government agency to the extent required or protected by statute, regulation or other applicable law; or (b) testifying truthfully in any legal proceedings to the extent compelled by a valid subpoena.    
		

		
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			11.    Severability.  You and ServiceMaster agree that to the extent that any portion of this Agreement may be held to be invalid or legally unenforceable, the remaining portions will not be affected and will be given full force and effect. 
		

		
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			12.    Dispute Resolution.  Any dispute or controversy between you and ServiceMaster, whether arising out of or relating to this Agreement, the breach of this Agreement, or otherwise, shall be subject to The ServiceMaster We Listen Dispute Resolution Plan in effect on your Separation Date, which provides the mandatory and exclusive remedy and procedure for disputes between you and ServiceMaster.  Notwithstanding the foregoing, you agree that ServiceMaster may seek  a temporary restraining order and/or preliminary injunction in any court of competent jurisdiction, without the posting of a bond, in order to preserve the status quo or to enforce the covenants in this Agreement.
		

		
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			13.    Notices.  All notices required or permitted pursuant to this Agreement shall be in writing and shall be deemed effectively given: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail or facsimile if sent during normal business hours of the recipient, and if not so confirmed, then on the next business day, (c) five days after having been sent by registered or certified 
		

		 

		

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			mail, return receipt requested, postage prepaid, or (d) one day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. Such notice shall be addressed as follows:
		

		
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						If to ServiceMaster: 

					
						 

					
						The ServiceMaster Company, LLC 

					
						150 Peabody Place 

					
						Memphis, TN  38103-3270 

					
						Attn: VP & Deputy General Counsel 

					
					
						 

					
					
						 

				

		
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			If to you, at the most recent address listed in the Company’s human resources information system and to your attorney as follows: 
		

		
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			Vincent E. Bauer
		

		
			Law Offices of Vincent E. Bauer
		

		
			425 Madison Ave., 17th Floor
		

		
			New York, NY 10017
		

		
			Email: vbauer@vbauerlaw.com
		

		
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			14.    Governing Law and Venue.  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 Tennessee without regard to the principle of conflicts of laws.  Subject to the dispute resolution provisions herein, any judicial proceeding arising from and relating to this Agreement shall be brought in courts having competent jurisdiction located in the State of Tennessee, which shall be the exclusive forum for resolving such disputes.  Both parties consent to the personal jurisdiction of such courts for the purposes of this Agreement.  The parties shall stipulate in any proceeding that this Agreement is considered for all purposes to have been executed and delivered in the State of Tennessee.
		

		
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			15.    Taxes.  Unless otherwise specified, all payments contemplated by this Agreement shall be subject to applicable payroll taxes and other required withholdings.  This Agreement is intended to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”), and shall be interpreted and construed consistently with such intent.  Payments provided herein are intended to be exempt from Section 409A of the Code to the maximum extent possible under either the separation pay exemption pursuant to Treasury regulation §1.409A-1(b)(9)(iii) or as short-term deferrals pursuant to Treasury regulation §1.409A-1(b)(4), and for such purposes, each payment under this Agreement shall constitute a “separately identified” amount within the meaning of Treasury regulation §1.409A-2(b)(2).  In the event the terms of this Agreement would subject you to taxes or penalties under Section 409A of the Code (“409A Penalties”), you shall cooperate diligently with the Company to amend the terms of this Agreement to avoid such 409A Penalties, to the extent possible; provided, that in no event shall the Company be responsible for any 409A Penalties that arise in connection with any amounts payable under this Agreement.    You understand that the Company has not provided any advice regarding the tax liability resulting from this Agreement and you shall not rely upon any representations or policies of the Company related to taxation.  You are advised to seek the advice of your own personal tax advisor or counsel as to the tax treatment of any payments contemplated by this Agreement.  The Company specifically disclaims that it has responsibility for the proper calculation or payment of any taxes which may be due other than for standard statutory withholding.
		

		
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			16.    Entire Agreement.  You and ServiceMaster agree that this Agreement constitutes the complete understanding between you and ServiceMaster regarding the matters herein and that no other promises or agreements, express or implied, will be binding between you and ServiceMaster unless signed in writing by you and ServiceMaster.  This Agreement fully supersedes and replaces any and all prior agreements or understandings, if any, between you and ServiceMaster on any matter that is addressed 
		

		

		

		 

		

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			in this Agreement with the exception of confidentiality/non-solicitation/non-compete issues except as stated herein. 
		

		
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			17.    OWBPA Notice.  Pursuant to the federal Older Workers Benefit Protection Act, you are advised as follows:
		

		
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			This Agreement includes a waiver of claims of age discrimination under the federal Age Discrimination in Employment Act; 

		
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			You are advised to consult with your personal attorney before signing this Agreement; 

		
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			You have 21 days from your receipt of this Agreement to consider the Agreement (the “Review Period”);

		
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			If your executed Agreement is not received by the Company within seven days from the end of the Review Period, the Agreement and any promises offered on behalf of Company contained therein will be null and void;

		
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			You have seven days after you sign this Agreement to revoke the Agreement.   If you want to revoke this Agreement, you must deliver a written revocation to The ServiceMaster Company, LLC; 150 Peabody Place; Mail Stop L/E-0085; Memphis, TN  38103-3270; Attn: VP & Deputy General Counsel.

		
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			18.    Effective Date:  This Agreement becomes effective on the 8th day after you sign, provided you do not revoke the Agreement as provided above.
		

		
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			YOU ACKNOWLEDGE THAT YOU HAVE READ THIS AGREEMENT CAREFULLY, UNDERSTAND ALL OF ITS TERMS AND AGREE TO THOSE TERMS KNOWINGLY, FREELY, VOLUNTARILY, AND WITHOUT DURESS.  YOU HAVE CONSULTED WITH YOUR PERSONAL ATTORNEY (OR HAVE HAD AN OPPORTUNITY TO DO SO) REGARDING THE TERMS AND LEGAL EFFECT OF THIS AGREEMENT.
		

		
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						/s/ Matthew J. Stevenson

					
					
						 

					
					
						/s/ David Dart

				
	
					
						Matthew J. Stevenson

					
					
						 

					
					
						David Dart

				
	
					
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						Senior Vice President, Human Resources

				
	
					
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						The ServiceMaster Company, LLC

				
	
					
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						Date: 11/18/19

					
					
						 

					
					
						Date: 11/18/19

				
	
					
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			6Exhibit
10.1

 

 

 

 

 

FUSIONSVERTRAG
/ MERGER AGREEMENT

 

 

vom
/ of

 

12.
März 2019 / 12 March 2019

 

zwischen / between

 

 

NLS-1
Pharma AG, Alter Postplatz 2, 6370 Stans

 

(nachfolgend
/ hereinafter “NLS-1”)

 

 

 

und
/ and

 

 

 

NLS-0
Pharma AG, Alter Postplatz 2, 6370 Stans

 

(nachfolgend
/ hereinafter “NLS-0”)

 

 

 

und
/ and

 

 

 

NLS
Pharma AG, Alter Postplatz 2, 6370 Stans

 

(nachfolgend
/ hereinafter “NLS”,

je einzeln auch die “Partei” und zusammen die “Parteien” /

each a
“Party” and together the “Parties”)

 

    1

     

    

 

 

 

betreffend
/ regarding

 

 

 

 

Fusion
gemäss Art. 3 ff. des Fusionsgesetzes / Merger
pursuant to Article 3 et seqq. of the Merger Act

 

    2

     

    

 

NLS-1
und NLS-0 und NLS beabsichtigen, miteinander zu fusionieren, wobei NLS-1 die übernehmende Gesellschaft ist. Gestützt darauf vereinbaren
die Parteien was folgt:

 

NLS-1
and NLS-0 and NLS envisage to merge whereby NLS-1 will be the surviving Party. Therefore, the Parties agree as follows:

 

		1.	Beteiligte
Gesellschaften / Companies Involved

 

NLS-1
ist eine Aktiengesellschaft im Sinne von Art. 620 ff. OR mit Sitz in Stans und ist unter der Firmennummer CHE-447.067.367 im Handelsregister
des Kantons Nidwalden eingetragen. Ihr Aktienkapital beträgt CHF 127’600.- und ist eingeteilt in 1’276 Namenaktien mit einem Nennwert
von je CHF 100.-.

 

NLS-1
is a company limited by shares according to Article. 620 ff. of the Swiss Code of Obligations
(“CO”) with its registered office in Stans, registered under no. CHE-447.067.367 in the commercial register of the
canton of Nidwalden. Its share capital amounts to CHF 127’600.-, divided into 1’276 registered shares with a
nominal value of CHF 100.- each.

 

NLS-0
ist eine Aktiengesellschaft im Sinne von Art. 620 ff. OR mit Sitz in Stans und ist unter der Firmennummer CHE-324.571.312 im
Handelsregister des Kantons Nidwalden eingetragen. Ihr Aktienkapital beträgt CHF 100’000.- und ist eingeteilt in 1’000 Namenaktien
mit einem Nennwert von je CHF 100.-.

 

NLS-0
is a company limited by shares according to Article. 620 ff. CO
with its registered office in Stans, registered under no. CHE-324.571.312 in the commercial register of the canton of Nidwalden.
Its share capital amounts to CHF 100’000.-, divided into 1’000 registered shares with a nominal
value of CHF 100.- each.

 

NLS
ist eine Aktiengesellschaft im Sinne von Art. 620 ff. OR mit Sitz in Stans und ist unter der Firmennummer CHE-348.607.509 im Handelsregister
des Kantons Nidwalden eingetragen. Ihr Aktienkapital beträgt CHF 100’000.- und ist eingeteilt in 1’000 Namenaktien mit einem Nennwert
von je CHF 100.-.

 

NLS
is a company limited by shares according to Article. 620 ff. CO
with its registered office in Stans, registered under no. CHE-348.607.509 in the commercial register of the canton of Nidwalden.
Its share capital amounts to CHF 100’000.-, divided into 1’000 registered shares with a nominal
value of CHF 100.- each.

 

    3

     

    

 

Die
Parteien sollen rückwirkend per 1. Januar 2019 gestützt auf Art. 3 Abs. 1 lit. a FusG und Art. 4 Abs. 1 lit. a FusG fusioniert
werden, und zwar auf dem Wege der Absorption von NLS-0 und NLS durch NLS-1.

 

The
Parties are to be merged retroactively as per 1 January 2019 on the basis of Article 3 para. 1 lit. a
Merger Act and Article 4 para. 1 lit. a Merger Act by way of NLS-1 absorption of
NLS-0 and NLS.

 

Mit
der Fusion wird die Vereinfachung der Gesellschaftsstruktur bezweckt.

 

The
purpose of the merger is to simplify the structure of the companies.

 

Im
Zuge der Fusion soll NLS-1 in “NLS Pharmaceutics AG” umfirmiert werde.

 

In
the course of the merger, NLS-1 is to be renamed “NLS Pharmaceutics AG”.

 

		2.	Fusion
/ Merger

 

Unter
dem Vorbehalt der Genehmigung dieses Vertrages durch die Generalversammlungen übernimmt NLS-1 durch Absorptionsfusion NLS-0 und
NLS. Durch diese Fusion werden NLS-0 und NLS aufgelöst und sämtlich Aktiven und Passiven der NLS-0 und NLS gehen durch Universalsukzession
auf NLS-1 über. NLS-0 und NLS werden mit der Eintragung der Fusion im Handelsregister gelöscht (Art. 3 Abs. 2 FusG).

 

Subject
to the approval of this agreement by the shareholders’ meetings of the Parties, NLS-1 will acquire NLS-0 and NLS through a
merger by absorption. As a result of this merger, NLS-0 and NLS will be dissolved and
all assets and liabilities of NLS-0 and NLS will be transferred to NLS-1 by means of a universal
succession. With the registration of the merger in the commercial register, NLS-0 and NLS will be deleted (Article 3 para. 2
Merger Act).

 

    4

     

    

 

		3.	Sanierungsfusion
/ Restructuring Merger

 

Die
Bilanz per 31. Dezember 2018 der NLS-1 weist eine Unterdeckung im Sinne von Art 6 Abs. 1 FusG aus, die beiden Bilanzen per
31. Dezember 2018 der NLS- 0 und der NLS weisen je eine Überschuldung im Sinne von Art. 6 Abs. 1 aus. Die
Fusion kann nach Art. 6 Abs. 1 FusG im vorliegenden Fall nur erfolgen, wenn Gesellschaftsgläubiger im Umfang der Unterdeckung
und Überschuldung aller drei fusionierenden Gesellschaften im Rang hinter alle anderen Gläubiger
zurücktreten.

 

The
balance sheet as of 31 December 2018 of NLS-1 discloses a capital loss situation in the
meaning of Article 6 para. 1 Merger Agreement, the balance sheet as of 31 December 2018 of both NLS-0 and NLS disclose an over-indebtedness
in the meaning of Article 6 para. 1 Merger Agreement. The companies involved in the merger may only merge in the case at hand,
if the creditors of the companies involved in the merger agree that their claims shall be subordinated to any other claims of
all other creditors in the amount of the capital loss and the over-indebtedness.

 

Die
unter Art. 6 Abs. 2 FusG erforderliche Bestätigung der zugelassenen Revisionsexpertin, PricewaterhouseCoopers AG (CHE-106.839.438),
in Zürich, wonach die Voraussetzungen nach Art. 6 Abs. 1 FusG (konkret das Vorliegen der erforderlichen Rangrücktritte)
erfüllt sind, liegt vor (Bestätigung nach Art. 6 Abs. 2 FusG in Anhang 1).

 

The
confirmation required under Article 6 para. 2 Merger Act from the specially qualified auditor, PricewaterhouseCoopers Ltd. (CHE-106.839.438),
in Zürich, according to which the conditions in Article 6 para. 1 Merger Act (specifically the existence of the required subordination)
have been fulfilled, is available (confirmation according to Article 6 para. 2 Merger Act in Annex 1).

 

		4.	Fusionsbilanz
/ Merger Balance Sheet

 

NLS-1
übernimmt die NLS-0 gemäss der geprüften Fusionsbilanz per 31. Dezember 2018 (Anhang 2) zum Buchwert mit Aktiven von
CHF 2’795’917 und Passiven (Fremdkapital) von CHF 3’622’583, woraus sich ein Passivenüberschuss von CHF 826’666
ergibt.

 

NLS-1
will acquire NLS-0 based on the audited merger balance sheet as of 31 December 2018 (Appendix
2) at book value with assets of CHF 2’795’917 and liabilities of CHF 3’622’583 and therefore a liabilities
surplus of CHF 826’666.

 

    5

     

    

 

Weiter übernimmt die NLS-1 die NLS gemäss der geprüften Fusionsbilanz per 31.
Dezember 2018 (Anhang 3) zum Buchwert mit Aktiven von CHF 847’806 und Passiven (Fremdkapital) von CHF 1’480’220,
woraus sich ein Passivenüberschuss von CHF 632’414 ergibt.

 

In
addition, NLS-1 will acquire NLS based on the audited merger balance sheet as of 31 December 2018 (Appendix 3) at book
value with assets of CHF 847’806 and liabilities of CHF 1’480’220 and therefore a liabilities surplus of CHF 632’414.

 

Die
Fusionsbilanzen der NLS-0 und NLS inkl. Revisionsberichte bilden Bestandteil dieses Fusionsvertrages.

 

The
audited merger balance sheets of NLS-0 and NLS as well as the audit reports are an integral part of this merger agreement.

 

		5.	Umtauschverhältnis
                                         und Ausgleichzahlung (Art. 13 Abs. 1 lit. b FusG) / Exchange Ratio and Compensation
                                         Payment (Article 13 para. 1 lit. b Merger Act)

 

Die
Parteien vereinbaren, das die Aktionäre der NLS-0 pro NLS-0-Aktie je 0.115019304 Aktien (gerundet) an der NLS-1 bzw. die Aktionäre
der NLS pro NLS-Aktie je 0.033964034 Aktien (gerundet) an der NLS-1 erhalten. Die Aktien werden den Aktionären im Verhältnis ihrer
bisherigen Beteiligung an der NLS-0 bzw. NLS zugeteilt. Es werden keine Ausgleichszahlungen getätigt.

 

The
Parties agree that the shareholders of NLS-0 will receive 0.115019304 shares (rounded) of NLS-1 per NLS-0 share respectively the
shareholders of NLS will receive 0.033964 shares (rounded) of NLS-1 per NLS share. The shares will be allocated to the shareholders
in proportion to their previous participation in NLS-0 and NLS. There are no compensation payments.

 

		6.	Sonderrechte
                                         (Art. 13 Abs. 1 lit. c FusG) / Special rights (Article 13 para. 1 lit.
                                         c Merger Act)

 

Inhaber
von Sonderrechten, von Anteilen ohne Stimmrecht oder von Genussscheinen bestehen bei der NLS-1 nicht.

 

There
are no holders of special rights, shares without voting rights or profit sharing certificates in NLS-1.

 

    6

     

    

 

		7.	Modalitäten für den Umtausch (Art. 13 Abs. 1 lit. d und lit. e FusG) / Modalities for the Exchange
                                         (Article 13 para. 1 lit. d and lit. e Merger Act)

 

Gleichzeitig
mit der Genehmigung dieses Fusionsvertrages durch die Generalversammlung der NLS-1 soll der Verwaltungsrat der NLS-1 die Übertragung
der bisher von der NLS-1 gehaltenen 149 Namenaktien mit einem Nennwert von je CHF 100.- auf die Aktionäre der NLS-0 und NLS im
Verhältnis ihrer bisherigen Beteiligung an der NLS-0 und NLS genehmigen. Diese Genehmigung der Aktienübertragung dient der Beteiligung
der Aktionäre der der NLS-0 und NLS gemäss dem Umtauschverhältnis in Ziffer 5.

 

At
the same time as this merger agreement is approved by the shareholders’ meeting of NLS-1, the board of directors of NLS-1 will
approve the transfer of the 149 registered shares previously held by NLS-1 with a nominal
value of CHF 100 each to the shareholders of NLS-0 and NLS in proportion to their previous participation in NLS-0 and NLS. This
approval of the share transfer serves the participation of the shareholders of NLS-0 and NLS in accordance with the exchange ratio
in Section 5.

 

Die
Parteien vereinbaren, dass die Aktionäre der NLS-0 und NLS bei Eintragung der Fusion im Handelsregister als alleinige Eigentümer
der ihnen zukommenden Namenaktien im Aktienbuch der NLS-1 eingetragen werden und der Verwaltungsrat der NLS-1 verpflichtet sich,
das angepasste Aktienbuch der NLS- 1 hiermit zu genehmigen.

 

The
parties agree that upon registration of the merger in the commercial register, the shareholders of NLS-0 and NLS will be registered
as sole owners of registered shares, which the shareholders of NLS receive, in
the share register of NLS-1 and the Board of Directors of NLS-1 hereby undertakes to approve the adjusted share register of NLS-1.

 

Die
Namenaktien, welche den Aktionären der NLS-0 und NLS zukommen, sind per Eintragung in das Handelsregister dividendenberechtigt.

 

The
registered shares, which the shareholders of NLS-0 and NLS receive, are entitled to dividends with entry into the commercial register.

 

    7

     

    

 

		8.	Zeitpunkt
                                         der Wirkung der Fusion (Art. 13 Abs. 1 lit. g FusG) / Date of Effectiveness
                                         of Merger Agreement (Article 13 para. 1 lit. g Merger Act)

 

Die
Fusion wird mit Eintragung im Handelsregister rechtswirksam.

 

The
merger will take legal effect and upon registration with the commercial register.

 

Die
Fusion erfolgt mit Wirkung per 1. Januar 2019. Ab diesem Zeitpunkt gelten sämtliche Handlungen der NLS-0 und NLS als für Rechnung
der NLS-1 vorgenommen. Die Verwaltungsräte der NLS-0 und NLS stellen fest, dass seit Errichtung der Fusionsbilanz per 31. Dezember
2018 keine wichtigen Veränderungen in ihrer Vermögenslage eingetreten sind.

 

The
merger will take effect on 1 January 2019. From this date forward, all actions of NLS-0 and NLS shall be deemed to have been performed
on behalf of NLS-1. The board of directors of NLS-0 and NLS note that since the merger balance sheet was drawn up on 31 December
2018, no important changes have occurred in its assets and liabilities.

 

		9.	Besondere
Vorteile (Art. 13 Abs. 1 lit. h FusG) / Special Benefits (Article 13 para. 1 lit. h Merger Act)

 

Im
Zusammenhang mit dieser Fusion werden den Mitgliedern der Leitungs- und Verwaltungsorgane der Parteien keine besonderen Vorteile
gewährt.

 

In
the context of this merger, no special benefits will be granted to the members of the supreme administrative or management bodies
or to managerial members of the Parties.

 

		10.	Fusionsbericht,
Prüfung durch zugelassenen Revisionsexperten, Einsichtsrecht / Merger
Report, Review by qualified auditor, Right of Inspection

 

Gestützt
auf Art. 14 Abs. 2 und 15 Abs. 2 FusG haben alle Aktionäre auf die Erstellung eines Fusionsberichts und dessen Prüfung sowie die
Prüfung des Fusionsvertrages verzichtet.

 

Pursuant
to Article 14 para. 2 and Article 15 para. 2 Merger Act, all shareholders have waived their right to prepare a merger report and
its review as well as the review of this merger agreement.

 

    8

     

    

 

Darüber
hinaus haben alle Aktionäre gestützt auf Art. 16 Abs. 2 FusG dem Verzicht auf das Einsichtsrecht zugestimmt.

 

In
addition, all shareholders have approved the waiver of the right of inspection based on Article 16 para. 2 Merger Act.

 

		11.	Fusionsbeschluss
durch die Generalversammlung / Merger Resolution of the Shareholders’ Meeting

 

		11.1	Generalversammlung
der NLS-0 / Merger Resolution of NLS-0

 

Der
Verwaltungsrat der NLS-0 wird den vorliegenden Fusionsvertrag der nächsten ausserordentlichen Generalversammlung mit Antrag auf
Genehmigung zur Beschlussfassung unterbreiten.

 

The
board of directors of NLS-0 will submit the merger agreement to the next extraordinary shareholders’ meeting with a
motion for approval.

 

		11.2	Generalversammlung
der NLS / Merger Resolution of NLS

 

Der
Verwaltungsrat der NLS wird den vorliegenden Fusionsvertrag der nächsten ausserordentlichen Generalversammlung mit Antrag auf
Genehmigung zur Beschlussfassung unterbreiten.

 

The
board of directors of NLS will submit the merger agreement to the next extraordinary shareholders’ meeting with a
motion for approval.

 

		11.3	Generalversammlung
der NLS-1 / Merger Resolution of NLS-1

 

Der
Verwaltungsrat der NLS-1 wird den vorliegenden Fusionsvertrag der nächsten ausserordentlichen Generalversammlung mit Antrag auf
Genehmigung zur Beschlussfassung unterbreiten.

 

The
board of directors of NLS-1 will submit the merger agreement to the next extraordinary shareholders’ meeting with a
motion for approval.

 

    9

     

    

 

		12.	Information
                                         von Aktionären und Arbeitnehmern / Information of Shareholders and Employees

 

Die
Parteien werden die Aktionäre und die Arbeitnehmer gemäss den gesetzlichen Vorgaben informieren.

 

The
Parties will inform the shareholders and the employees in accordance with the legal requirements.

 

Weder
bei NLS-0 noch bei NLS und NLS-1 sind Massnahmen geplant, welche die Arbeitnehmer betreffen. Auf eine Konsultation der Arbeitnehmer
gemäss Art. 28 FusG der Parteien kann folglich verzichtet werden.

 

Neither
NLS-0 nor NLS nor NLS-1 have any measures planned which affect employees. Consequently, there is no need to consult the employees
pursuant to Article 28 Merger Act of the parties.

 

		13.	Gesellschafter
                                         mit unbeschränkter Haftung / Shareholders with Unlimited Liabilities

 

Bei
dieser Fusion sind keine Gesellschafter mit unbeschränkter Haftung beteiligt.

 

In
this merger, there are no shareholders with unlimited liability involved.

 

		14.	Schlussbestimmungen
                                         / Final Provisions

 

		14.1	Inkrafttreten
                                         / Entry into Force

 

Dieser
Fusionsvertrag tritt mit seiner rechtsgültigen Unterzeichnung durch beide Parteien in Kraft. Die Fusion wird mit Eintrag im Handelsregister
rechtskräftig.

 

This
merger agreement will enter into force upon the legally binding signature of both Parties. The merger will take effect upon registration
with the commercial register.

 

		14.2	Kosten,
                                         Entschädigung und Steuern / Costs, Compensations and Taxes

 

NLS-1
trägt die Kosten dieses Fusionsvertrages.

 

NLS-1
shall pay the costs of this merger agreement.

 

    10

     

    

 

		14.3	Änderungen
und Ergänzungen / Amendments and Supplements

 

Änderungen
und Ergänzungen dieses Fusionsvertrages bedürfen zu ihrer Gültigkeit der Schriftlichkeit.

 

Amendments
and supplements to this merger agreement must be in writing in order to be valid.

 

		14.4	Salvatorische
                                         Klausel / Severability Clause

 

Jede
Bestimmung dieses Fusionsvertrages ist so auszulegen, dass sie nach den anwendbaren zwingenden Vorschriften gültig und durchsetzbar
ist. Sollte sich eine Bestimmung dieses Fusionsvertrages als ungültig oder nicht vollstreckbar erweisen, ist sie durch eine gültige
und vollstreckbare Bestimmung zu ersetzen, die dem rechtlichen und wirtschaftlichen Zweck der nichtigen oder unwirksam gewordenen
Bestimmung am ehesten entspricht. Die übrigen Bestimmungen dieses Fusionsvertrages werden durch die Ungültigkeit resp. Nichtvollstreckbarkeit
einer Bestimmung nicht berührt und bleiben gültig und vollstreckbar.

 

Each
provision of this merger agreement shall be construed to be valid and enforceable in accordance with applicable mandatory rules.
If any provision of this merger agreement is held to be invalid or unenforceable, it shall be replaced by a
valid and enforceable provision which most closely reflects the legal and economic purpose of the invalid or unenforceable
provision. All other provisions of this merger agreement shall not be affected by the invalidity or unenforceability and shall
be deemed valid and enforceable.

 

		14.5	Sprache
                                         / Language

 

Im
Falle eines Widerspruchs zwischen der deutschen und der englischen Fassung dieses Fusionsvertrages geht die deutsche Fassung vor.

 

In
case of any discrepancies between the German and the English version of this merger agreement, the German version shall prevail.

 

    11

     

    

 

		14.6	Anwendbares
Recht und Gerichtsstand / Governing Law and Jurisdiction

 

Dieser
Fusionsvertrag untersteht materiellem schweizerischem Recht. Gerichtsstand für alle Streitigkeiten aus oder im Zusammenhang mit
diesem Fusionsvertrag ist das Kantonsgericht Nidwalden in Stans.

 

This
merger agreement shall be subject to and governed by Swiss substantive law. The place of jurisdiction for any dispute arising
out of or in connection with this merger agreement shall be the cantonal court of Nidwalden in Stans (Switzerland).

 

	Anhänge:	 
	 	 
	Anhang
    1:	Bestätigung
    der PricewaterhouseCoopers AG vom 12. März 2019
	 	 
	Appendix 1:*	Confirmation of PricewaterhouseCoopers
    Ltd. as of 12 March 2019
	 	 
	Anhang
    2:	Geprüfte
    Fusionsbilanz der NLS-0 Pharma AG per 31. Dezember 2018 inkl. Revisionsbericht
	 	 
	Appendix 2:*	Audited merger balance
    sheet of NLS-0 Pharma Ltd. as of 31 December 2018 including auditor’s report
	 	 
	Anhang
    3:	Geprüfte
    Fusionsbilanz der NLS Pharma AG per 31. Dezember 2018 inkl. Revisionsbericht
	 	 
	Appendix 3:*	Audited merger balance
    sheet of NLS Pharma Ltd. as of 31 December 2018 including auditor’s report

 

* Appendices omitted

 

    12

     

    

 

	NLS-1
    Pharma AG:	 	 
	 	 	 
	/s/ Ronald Hafner	 	/s/ Alexander Zwyer
	Ronald Hafner	 	Alexander
    Zwyer
	Präsident
    des Verwaltungsrates /	 	Mitglied
    des Verwaltungsrates /
	Chairman of the Board
    of Directors	 	Member of the Board
    of Directors
	 	 	 
	/s/
    Jürgen Bauer	 	/s/
    Eric Konofal
	Jürgen
    Bauer	 	Eric
    Konofal
	Mitglied
    des Verwaltungsrates / 	 	Mitglied
    des Verwaltungsrates /
	Member of the Board
    of Directors	 	Member of the Board
    of Directors
	 	 	 
	NLS-0
    Pharma AG:	 	 
	 	 	 
	/s/ Alexander Zwyer	 	 
	Alexander
    Zwyer	 	 
	Mitglied
    des Verwaltungsrates /	 	 
	Member of the Board
    of Directors	 	 

 

    13

     

    

 

	NLS
    Pharma AG:	 	 
	 	 	 
	/s/ Ronald Hafner	 	/s/ Alexander Zwyer
	Ronald Hafner	 	Alexander
    Zwyer
	Präsident
    des Verwaltungsrates /	 	Mitglied
    des Verwaltungsrates /
	Chairman of the Board
    of Directors	 	Member of the Board
    of Directors
	 	 	 
	/s/
    Jürgen Bauer	 	/s/
    Eric Konofal
	Jürgen
    Bauer	 	Eric
    Konofal
	Mitglied
    des Verwaltungsrates / 	 	Mitglied
    des Verwaltungsrates /
	Member of the Board
    of Directors	 	Member of the Board
    of Directors

 

 

14

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