Document:

Document

Exhibit 10.1

September 27, 2021
Richard Rew

Dear Richard,
I am very pleased to provide you with a summary of the terms and conditions of your anticipated employment by IsoPlexis Corporation (the “Company”).  The following sets forth the proposed terms and conditions of your offer of employment.  This offer expires on September 30, 2021.  We hope that you choose to join the Company and look forward to a mutually beneficial relationship.
1.Position.  Subject to the successful completion of a customary background and reference check, the Company hereby engages you in a full-time, exempt position as Senior Vice President, General Counsel and Secretary and to provide such services as are consistent with the scope of such position and such other services as requested by the Company from time to time.  You will be expected to devote full- time to the performance of your duties at the Company throughout your employment, and we expect that you will perform any and all of your duties and responsibilities in a satisfactory manner and to the best of your abilities at all times.  Given the officer level of this position, you will be eligible to become party to an indemnification agreement in accordance with the Company’s standard practices as described in the Company’s registration statement on Form S-1.
2.Starting Date; Location.  If you accept this offer, your employment with the Company will begin on October 11, 2021 (the “Employment Start Date”).   You will perform your duties and responsibilities of employment generally out of your home office in Austin, Texas. You will be reimbursed for approved business expenses in accordance with the Company’s policies and procedures relating to claims for such reimbursement.
3.At-Will Relationship.  Your employment with the Company is “at will”, meaning that both the Company and you have the right to terminate the employment relationship at any time for any reason.  Accordingly, no provision of this offer letter shall be construed to create an express or implied employment contract, or a promise of employment for any specific period of time.  Although your job duties, title, compensation, benefits (if any), as well as the Company’s personnel policies and procedures, may change from time to time, the “at will” nature of your employment may only be changed in an express written agreement signed by you and an authorized executive officer of the Company.  Without changing the at-will nature of your employment, if your employment is terminated by the Company without cause within twelve months following a “Change of Control” (as defined in the Plan), you will be entitled to receive an amount equal to six (6) months of your then-current base salary, less applicable tax and customary payroll withholdings (the “Severance”), subject to your execution, delivery and non-revocation of the Company’s standard form of release agreement within sixty (60) days following such termination. The Severance shall be paid on the first regular payroll date of the Company following the effectiveness of such release of claims.
4.Compensation; Benefits.  Your initial base pay shall be $400,000 annually less payroll deductions and applicable withholdings. In addition, you will annually be granted fifteen (15) days of paid personal time off (PTO) and you may also be eligible for a cash bonus up to fifty percent (50%) of your annual salary, prorated for 2021, dependent upon performance and at the discretion of the 
Richard Rew Page 1 of

Company’s Board of Director (the “Board”). You will also be eligible for health benefits and other benefits offered by the Company to similarly situated employees subject to your fulfillment of any eligibility and plan requirements.
5.Equity Grant.  Subject to approval by the Board at its next regularly scheduled meeting following the consummation of the Company’s initial public offering (the “IPO”), you will be granted an option (the “Option”) to purchase shares of the Company’s common stock, par value $0.001 per share (“Common Stock”) pursuant to the Company’s then-effective omnibus incentive compensation plan (the “Plan”) and the terms of an option agreement which is expected to provide for vesting over a forty-eight (48) month period, with one quarter (1/4) of the shares of Common Stock vesting on the one-year anniversary of the vesting commencement date and one-forty-eighth (1/48) of the shares of Common Stock subject to the Option vesting after each calendar month after such one-year anniversary. Subject to approval by the Board, the Option will consist of an option to purchase 5,000 (five thousand) shares Common Stock, as adjusted for any stock splits in connection with the IPO.
6.Your Certifications.  As a condition of your employment, you hereby certify to the Company that: (a) you are free to enter into and fully perform the duties of your position and that you are not subject to (i) any employment, confidentiality, non-competition or other agreement that would prevent you from performing such duties or (ii) any order, judgment or injunction, in either case, that would prohibit or otherwise restrict your performance for the Company; (b) all facts you have presented or will present to the Company are accurate and true, including, but not limited to, all oral and written statements you have made on any job application, resume or c.v., or in any interview or discussion with the Company.
7.Eligibility to Work.  Your  employment  with the Company  is conditioned on  your eligibility to work for the Company in the offered position in the United States. Prior to or on the first day of your employment, you must complete Form I-9 for Employment Eligibility Verification, and provide to the Company any means of verification noted on the “List of Acceptable Documents.”  Both the Form I-9 and the List of Acceptable Documents are enclosed for your information.
8.Confidentiality, Inventions and Non-Competition Agreement.  The Company considers the protection of its confidential information, proprietary materials and goodwill to be extremely important. Accordingly, you will be required to execute and abide by the enclosed Confidentiality, Non-Competition and Invention Assignment Agreement, as a condition of this offer of employment.
9.Miscellaneous.  This offer letter constitutes our entire offer regarding the terms and conditions of your prospective employment with the Company.  It supersedes any prior agreements, or other promises or statements (whether oral or written) regarding the offered terms of employment.  The terms of your employment shall be governed by the law of the State of Connecticut.  BY ACCEPTING THIS OFFER OF EMPLOYMENT, YOU AGREE THAT ANY CONTROVERSY, DISPUTE OR CLAIM ARISING OUT OF ANY ASPECT OF YOUR EMPLOYMENT WITH THE COMPANY, OR ANY SEPARATION OF EMPLOYMENT (WHETHER VOLUNTARY OR INVOLUNTARY) FROM THE COMPANY, SHALL BE RESOLVED IN A COURT OF COMPETENT JURISDICTION IN CONNECTICUT BY A JUDGE ALONE, AND YOU HEREBY WAIVE AND RENOUNCE YOUR RIGHT TO A TRIAL BEFORE A CIVIL JURY.
10. Severability & Waiver.  If any provisions of the agreement shall be held to be invalid or unenforceable for any reason, the remaining provisions shall continue to be valid and enforceable.  If a court finds that any provision of this agreement is invalid or unenforceable, but that by limiting such provision it would become valid or enforceable, then such provision shall be deemed to be written construed and enforced as so limited.  The failure of either party to enforce any provision of this agreement shall not be construed as a waiver or limitation of that party’s right to subsequently enforce such agreement.
Richard Rew Page 2 of

You may accept this offer of employment by signing the enclosed additional copy of this offer letter.  Your delivery of a signed copy of this offer letter and the enclosed executed Confidentiality, Non- Competition and Invention Assignment Agreement to me will evidence your agreement with the terms and conditions set forth herein and therein.
We are pleased to offer you the opportunity to join the Company.  We are confident that you will make an important contribution to our unique and exciting enterprise.
			
	Sincerely,
	
	
	Sean Mackay
	Co-Founder and CEO
	IsoPlexis Corporation

						
	AGREED TO AND ACKNOWLEDGED
	AS OF THE DATE SET FORTH ABOVE:
		
		
	Richard W. Rew II	

Richard Rew Page 3 ofEX-10.1

 Exhibit 10.1 

Execution Version 
 PRE-ORDER PURCHASE ORDER No CFR21-001 
 DATED 11 OCTOBER 2021

  

			
	Parties:	  	This Purchase Pre-Order (the “Pre-Order”) is entered as of 11 October 2021 (the “Effective Date”) by and
between the following parties:
		
		  	Bitfury Top HoldCo B.V., a Netherlands company with its address at Strawinskylaan 3051, 1077ZX Amsterdam, the Netherlands (“Bitfury”); and
		
		  	Cipher Mining Technologies Inc., a Delaware corporation, with its principal place of business at 222 Purchase Street, #290, Rye, NY, 10580, USA (the “Customer”)
		
		  	(together – the “Parties”).
		
	Purpose	  	The Parties wish to set forth in this Pre-Order a framework and general parameters/specifications for firm orders of Servers and Equipment by Customer from Bitfury from time to time through
mutual agreement and execution of one or more binding “Order Confirmations”. For the avoidance of doubt, the “Purchase Quantity”, “Purchase Price”, and “Delivery Terms” are
indicative and do not create any legally binding commitment on the Parties unless and until confirmed by a mutually executed Order Confirmation. Each Order Confirmation shall be construed together with the terms of this Pre-Order (unless specifically altered in the Order Confirmation), being understood that each Order Confirmation (together with this Pre-Order) shall be construed as an
independent binding contract.
		
	Product Description:	  	Bitfury proprietary server producing 195TH/s (+-5%) of hashing power and consuming in the range of
6.3KWh-6.5KWh of electrical power (the “Server”).
		
	Purchase Quantity:	  	The Servers will be supplied in monthly batches.
		
		  	The quantity of each monthly batch will be determined and confirmed by Bitfury in each “Order Confirmation”. Always subject to section “Delays/Availability”, Bitfury will supply, and the Customer will purchase
at least 4,000 Servers per month. If the monthly available quantity exceeds 4,000 Servers, Bitfury will notify

 Execution Version 
  

			
		  	the Customer and the Parties may, upon mutual agreement, increase the quantity of the relevant monthly batch to up to 8,000 Servers.
		
	Purchase Price:	  	The price of 1 (one) unit of Server shall not exceed USD6,250 (six thousand two hundred fifty US dollars) excluding VAT or any other taxes, and ExWorks. Subject to the preceding sentence, the final price per Server will be
confirmed by Bitfury in each “Order Confirmation”. The aforementioned USD price cap shall, for the avoidance of doubt, apply solely for orders for Servers executed pursuant to this
Pre-Order.
		
		  	The total price of the Equipment shall be determined for each monthly batch of Servers by multiplying: (i) the number of Servers to be delivered per month pursuant to the relevant “Order Confirmation” by
(ii) the price per Server set forth in the same “Order Confirmation” (the “Purchase Price”).
		
	Payment Terms:	  	The Customer shall pay to Bitfury an advance payment in the amount of $10,000,000 (the “Pre-payment”) on or before 3rd business day following Effective Date of this Pre-Order.
		
		  	The Purchase Price shall be paid for each monthly batch in accordance with the following schedule:
		
		  	 (a)   80% of the Purchase Price (less outstanding Pre-payment) shall be paid in advance not later than 6 (six) months before the relevant “Estimated Delivery Date”.

		  	 (b)   20% of the Purchase Price shall be paid in advance not later than 2
(two) months before the relevant “Estimated Delivery Date”.

		
		  	Customer shall pay the Purchase Price in cleared funds at the time of payment as stated in this Pre-Order. Payment shall be made according to the instructions supplied in writing by Bitfury
to the account notified by Bitfury in writing.
		
		  	Bitfury shall be entitled to refuse or delay shipment of the Equipment that is the subject of any Order Confirmation if the Customer fails to pay any part of the Purchase Price in advance as described above.

 Execution Version 
  

			
	Delivery Terms: 	  	 Subject to availability, the Equipment shall be delivered on a monthly basis in batches according to the following estimated delivery
schedule (subject to Order Confirmation). The estimated delivery dates for each monthly batch are 30 June 2022; 30 July 2022; 30 August 2022; 30 September 2022; 30 October 2022; 30 November 2022; and 30 December
2022 (each an “Estimated Delivery Date”).
  
 The Equipment shall be
delivered ExWorks South Korea or Thailand, the exact address to be confirmed by Bitfury not later than two (2) months before the Delivery Date.
  

Customer shall notably be responsible and liable for customs clearance of the Equipment, taxes, delivery tracking, deployment, infrastructure and maintenance
of the Equipment at its own expense.
  
 Thirty (30) days before the relevant
Estimated Delivery Date, Bitfury will provide a written notice to the Customer whereby Bitfury will either (a) confirm the exact delivery date for each monthly batch; or (b) determine a new Estimated Delivery Date; or
(c) inform that the Equipment is unavailable (the “Order Confirmation”) (see example in Appendix 1).

		
	Delays/Availability:	  	Cancellation due to late availability/unavailability. Customer acknowledges and agrees that the timelines are not fixed and the Servers may not be available due to circumstances which are outside of Bitfury’s control.
If Bitfury moves the Estimated Delivery Date pursuant to paragraph (b) in the immediately above section to a date that is more than thirty (30) days after the original relevant Estimated Delivery Date, then the Customer shall have
the right, but not the obligation, to cancel the relevant batch of Servers at its sole discretion and without liability. If Bitfury confirms that the Servers are unavailable pursuant to paragraph (c) in the immediately above section,
then the relevant batch with respect to which Bitfury provides such confirmation shall automatically cancel without any further notice. In the event of cancellation or termination of the relevant batch of Servers hereunder, Bitfury shall fully
refund the Purchase Price (including any Pre-payment) paid by the Customer for the cancelled batch. For the avoidance of doubt, cancellation of a specific batch hereunder shall not affect other batches which
have been confirmed by the “Order Confirmation” pursuant to paragraph (a) in the immediately above section (if any) or otherwise are the subject of any executed Order Confirmation.

 Execution Version 
  

			
		  	 Termination due to failure to deliver. If Bitfury confirms the delivery date pursuant to paragraph (a) in the
immediately above section, but fails to deliver the Equipment by that date, Bitfury shall have an additional thirty (30) days to satisfy the relevant delivery, and Bitfury shall take all such commercially reasonable remedial action as is
practicable to ensure compliance with its obligations, including delivering the relevant Equipment within thirty (30) days of the originally confirmed delivery date, under the relevant Order Confirmation. If Bitfury fails to deliver the
Equipment within the aforementioned thirty (30) days, then the Customer shall be entitled, and at its sole discretion, to terminate and rescind the relevant Order Confirmation without liability, in which case Bitfury shall have the obligation
to refund the Purchase Price (including any Pre-Payment) paid by the Customer for any undelivered batch(es) or undelivered Servers.
  

The refunds as stipulated herein shall, once paid, be in full and final settlement of any claim, demand and/or payables against Bitfury and Bitfury shall have
no other obligation or liability to the Customer in respect of any such rescinded or canceled Order Confirmation.

		
	Breach:	  	 Without prejudice and in addition to Bitfury’s other remedies prescribed under this Pre-Order
or the applicable Law, if the Customer fails (whether in whole or in part) to timely fulfil its obligations under Clause “Payment Terms” Bitfury shall be entitled at its sole discretion to:

 
 •  Adjust this Pre-Order (and the relevant Order Confirmation) and deliver only part of the Equipment equivalent to the amount paid (if any) by the Customer in accordance with the Payment Terms; or

 
 •  Deliver the Equipment in full
to the Customer and request payment of the full Price and for this purpose exercise any injunctive relief, specific performance or any other claim or remedy available under applicable Laws; or

 
 •  Terminate the relevant Order
Confirmation without any liability or obligation to deliver any Equipment over and above what would be covered by any Pre-Payment or other payment already made by the Customer to Bitfury in
respect

 Execution Version 
  

			
		  	 of the relevant Order Confirmation. In such case, the Purchase Price (or part thereof) which has already been paid to
Bitfury shall be non-refundable to the Customer.
  

In the event of Customer’s breach (whether in whole or in part) to timely fulfil its obligations under Clause “Payment Terms”, the Customer
shall immediately pay to Bitfury, as liquidated damages of 0.3% of the delayed payment for each day of delay.

		
	Warranty:	  	 Bitfury warrants to the Customer that each Server is free from defects of workmanship and materials, and that under normal use and
conditions, it will operate substantially in accordance with, and perform, the material functions and features as set out in the product description in this Pre-Order for a period of one year after the date of
its delivery. Repair and replacement terms are defined under the relevant Equipment Purchase Agreement.
  

In addition to remedies provided for Customer in Clause 11 of the Equipment Purchase Agreement (Appendix 1 of the Agreement), if the total hashing power
provided by a specific batch of Servers is less than stipulated in the “Product Description”, Bitfury shall be entitled to deliver additional Servers, at no additional cost to the Customer, so that the total hashing power output of
the relevant batch equals to the amount indicated in the “Product Description”.

		
	Terms & Conditions:	  	This Pre-Order is made under and a part of the Master Services and Supply Agreement, and the Equipment Purchase Agreement attached thereto, between the parties and dated 26 August 2021
(the “Agreement”), and the terms and conditions of the Agreement shall apply to this Pre-Order and any Order Confirmation. In the event of a conflict between the terms of the Agreement and any
of this Pre- Order or any Order Confirmation, the terms of this Pre-Order or any Order Confirmation shall prevail.
		
	Expiry of Offer:	  	This Order shall remain valid for acceptance for a period of fourteen business days from the date of its issuance whereupon, unless executed and delivered to Bitfury by Customer, it shall automatically terminate in its entirety
without any continuing obligation or liability arising on the part of Bitfury whatsoever.

 Execution Version 
  

			
	Confidentiality and Announcements	  	Notwithstanding anything to the contrary in the Agreement, the Customer shall be permitted to: (i) make public disclosure of such details related to this Pre-Order, any Order
Confirmation, or the Agreement as it determines are necessary to satisfy its disclosure obligations as a public company under applicable law and regulation, including public filing of this Pre-Order, any Order
Confirmation, or the Agreement on the Edgar website of the United States Securities and Exchange Commission; and (ii) disclose any Confidential Information in response to a request or demand of any regulator or self-regulatory organization of
competent jurisdiction in respect of Customer.
		
	Governing law	  	This Pre-Order, and any non-contractual rights or obligations arising out of or in connection with it, shall be governed by and construed in
accordance with the laws of the state of New York and the federal laws of United States applicable therein, but without regard to conflict of laws provisions.

  

											
	Bitfury Top HoldCo B.V.	 		 	Cipher Mining Technologies Inc.	 	
						
	Per:	 	

	 		 	Per:	 	

	 	
	            Authorized Signatory	 		 	            Authorized Signatory	 	
				
	Date: 12 October 2021| 12:02:49 CEST	 		 	Date: 11 October 2021	 	

 Execution Version 
  

 Appendix 1 – Form of Order Confirmation 

This Order Confirmation is entered between Bitfury Top HoldCo B.V., a Netherlands company with its address at Strawinskylaan 3051, 1077ZX Amsterdam,
the Netherlands (“Bitfury”); and Cipher Mining Technologies Inc., a Delaware corporation, with its principal place of business at 222 Purchase Street, #290, Rye, NY, 10580 USA (the “Customer”), pursuant to
the Pre-Order CFR             (the “Pre-Order”) to confirm certain terms and
conditions related to Purchase Quantity, Purchase Price and Delivery Terms for the Equipment that is the subject of the Pre-Order. Capitalized terms used herein but not defined below shall have the
meanings given to them in the Pre-Order. 
 [This Order Confirmation is to inform you that Bitfury will not be able
to fulfil the order set out in the Pre-Order, since the Equipment will not be available, and we hereby terminate the Pre-Order effective the date of this Confirmation].

 [This Order Confirmation is to confirm that Bitfury would like to proceed with the order set out in the Pre-Order
on the terms set forth below. This Order Confirmation, together with the Pre-Order and the Agreement (as defined in the Pre-Order), constitute the entire agreement
between the parties in respect of the Equipment (and in the case of any conflict between this Order Confirmation and the Pre-Order or the Agreement, this Order Confirmation shall prevail and set forth the
final terms of the sale and purchase agreed in the Pre-Order]. 
  

			
	Product Description:	  	The Servers.
	Purchase Quantity:	  	[●] Servers (the “Equipment”).
	Purchase Price per Server:	  	The price of 1 (one) unit of Server shall be [●] USD excluding VAT or any other taxes, and delivered ExWorks.
		  	The total price of the Equipment shall be determined as set forth in the Pre-Order, using the price per Server set forth above.
	Payment Terms:	  	The Purchase Price shall be paid for each monthly batch in accordance with the schedule set forth in the Pre-Order.
	Delivery Terms:	  	Equipment shall be delivered on a monthly basis in batches of [●] Servers per month.
		  	The delivery schedule is as follows (each constituting the “Delivery Date”) for the respective month:

 Execution Version 
  

			
	                                      
    	  	 1.  [30 June 2022] - [●] Servers

		  	 2.  [30 July 2022] - [●] Servers

		  	 3.  [30 August 2022] - [●] Servers

		  	 4.  [30 September 2022] - [●] Servers

		  	 5.  [30 October 2022] - [●] Servers

		  	 6.  [30 November 2022] - [●] Servers

		  	 7.  [30 December 2022] - [●]
Servers

	Terms & Conditions:	  	This Order Confirmation is made under and as part of the Master Services and Supply Agreement (the “Agreement”), and the Equipment Purchase Agreement attached thereto, dated August 26,
2021, and the terms and conditions of the Agreement shall apply to this Order Confirmation. In the event of a conflict between the terms of the Agreement and the terms contained in any this Order Confirmation, the terms contained in this Order
Confirmation shall prevail over those contained in the Agreement.
	Governing law	  	This Order Confirmation, and any non-contractual rights or obligations arising out of or in connection with it, shall be governed by and construed in accordance
with the laws of the state of New York and the federal laws of United States applicable therein, but without regard to conflict of laws provisions.

 

									
	Bitfury Top HoldCo B.V.	 		 	Cipher Mining Technologies Inc.
					
	Per:	 		 		 	Per:	 	
		 	Authorized Signatory	 		 		 	Authorized Signatory
					
	Date:	 		 		 	Date:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00334-of-00352.parquet"}]]