Document:

Exhibit

EXHIBIT 10.50

	
		
	Date
	December 15, 2017

	Reference
	CM/em

	Direct Dial
	41 44 944 24 45

	Telefax
	41 44 944 22 55

PERSONAL / CONFIDENTIAL
Mr. Peter Aggersbjerg

Employment Agreement

between Mettler-Toledo International Inc., Greifensee Branch, Im Langacher, 8606 Greifensee, Switzerland (“Company”), and Mr. Peter Aggersbjerg, born October 23, 1968 in Denmark (“Employee”).

The parties enter into an employment agreement on the terms and conditions set forth below:

	
		
	Function
	Head Laboratory Division, Member of the Group Management Committee ("GMC") of the METTLER TOLEDO Group.

	Employing Company / Position Location
	Mettler-Toledo International Inc., Greifensee Branch, 8606 Greifensee, Switzerland. The principal place of work is Greifensee, Switzerland. Given the international presence of the company, employee’s duties will require regular business travel to the Group’s various locations.
If not otherwise stipulated in this agreement, the General Terms and Conditions of Employment ("GTCE") of our Swiss operations apply.

	Remuneration
	Base Salary of CHF 315’000.00 gross per annum, effective with the starting date, payable in twelve equal monthly installments of CHF 26'250.00.

	 
	Participation in the Incentive Plan POBS Plus for Members of the Group Management of METTLER TOLEDO pursuant to the then-current plan and regulations. Under this plan Employee is eligible to earn a cash incentive based upon achievement of various financial and personal targets. For 100% target achievement, the cash incentive is currently CHF 141'750.00 gross (45% of base salary). The scaling of the incentive system and selection and weighting of targets, including personal targets, are determined by the Compensation Committee of the Board of Directors.

	Expenses
	Expense Allowance according to then-current regulations of CHF 10'500.00 per annum, payable in twelve monthly installments of CHF 875.00. No commuting or vehicle allowance will be paid.

	Equity Incentive Plan
	Participation in the METTLER TOLEDO Equity Incentive Plan as may be amended from time to time.

	Housing Allowance
	The company will continue to contribute an amount of up to CHF 1'500.00 per month for housing at the principle place of work until end of February 2018. Thereafter, Employee agrees to maintain accommodation at his own expense, i.e. no housing allowance or reimbursement will be paid/granted anymore.

	
		
	 
	2

	 

	
		
	Personnel Insurance
	Additional Accident Insurance and Disability Insurance at METTLER TOLEDO’s expense.
Participation in the pension arrangement for GMC members as might be amended from time to time, with defined contributions at METTLER TOLEDO's expense. The insured salary is 77.2727% of Target Salary, subject to limits applicable under Swiss law.

	Vacation
	27 working days per calendar year, including compensation for overtime as per Supplementary Regulations on Working Hours and Absences of our Swiss operations. Unused vacation days in a given year will not be carried forward.

	Duration /  
Notice Period
	This employment agreement is effective as of January 1, 2018 and is of unlimited duration. It may be terminated by either party without cause by giving twelve (12) months notice in writing to the end of a month and shall terminate at the end of such notice period.

	Non-Competition
	While Employee is employed by METTLER TOLEDO and for a period of twelve months after his termination, Employee shall not directly or indirectly (a) engage in or be employed in any business anywhere in the world which competes with the businesses of METTLER TOLEDO, or (b) solicit for hire or hire any METTLER TOLEDO employee.

	Confidentiality

	Employee agrees to keep confidential both during and after his employment with METTLER TOLEDO all information of a confidential nature not generally known outside of METTLER TOLEDO, and not to use such confidential information other than for purposes of performing his duties for METTLER TOLEDO.

	Tax Filings

	The parties acknowledge a separate agreement will be signed regarding tax equalization matters.

	Previous Employment Agreements
	With the effectiveness of this employment agreement, all previous employment agreements or amendments to such employment agreements with METTLER TOLEDO shall be considered cancelled. The acquired period of service since January 18, 2016 is taken into consideration where applicable.

	Applicable Law and Jurisdiction
	This agreement shall be governed by Swiss law. All disputes concerning the terms and conditions of this agreement shall be brought before the ordinary courts in the Canton of Zurich, Switzerland.

Mettler-Toledo International Inc.    The Employee

Christian Magloth        Peter Aggersbjerg

Attachments:
		
	▪
	POBS Plus  – Incentive System for Members of the Group Management of METTLER TOLEDO (12/2013)

		
	▪
	Spesenreglementsergänzung Gruppenleitung (04/1997)Exhibit

Exhibit 10.1

FIRST AMENDMENT OF LEASE

This First Amendment of Lease (this “Amendment”) is made and entered into on this the 10 day of November, 2017, by and between Pearland Economic Development Corporation (“Landlord”) and Cardiovascular Systems, Inc., (“Tenant”). 

RECITALS

A.Whereas, Landlord and Tenant entered into that certain Lease dated September 4, 2009 (the “Lease”) relating to approximately 46,000 square feet of floor area on the Leased Premises located at 14740 Kirby Drive, in Pearland, Harris County, Texas; and

B. Whereas, pursuant to the Lease, Tenant’s First Expansion Option and Second Expansion Option have expired and Tenant’s Expansion Options under the Lease have therefore been waived; and

C.Whereas, Landlord may have the opportunity to sell a portion of the Leased Premises that comprises a portion of the First Expansion Option Land as more accurately depicted on Exhibit A attached hereto (the “Adjacent Property”); and

D. Whereas, in exchange for Tenant’s willingness to remove the Adjacent Property from the Leased Premises, Landlord  is willing to use proceeds from the sale of the Adjacent Property to construct no fewer than thirty (30) additional parking improvements on the Leased Premises in accordance with Exhibit B attached hereto to exclusively serve Tenant (the “Parking Improvements”); and

E.    Landlord and Tenant now desire to amend certain terms of the Lease for the consideration and upon the terms and conditions hereinafter expressed.

NOW THEREFORE, for and in consideration of the mutual covenants and agreements herein contained, and other good and valuable consideration, the receipt and adequacy of which are hereby expressly acknowledged, Landlord and Tenant hereby amend the Lease as follows:

		
	1.
	Recitals.  The Recitals are hereby incorporated herein by reference.  Capitalized terms used herein shall have the meanings given to them in the Lease unless otherwise defined herein.

		
	2.
	Sec. 1 Leased Premises.  The Leased Premises shall be redefined as: (i) the tract of land in Pearland, Texas (the “Land”), more particularly depicted on Exhibit A attached hereto, together with any and all easements, rights and appurtenances appertaining to same, and (ii) that certain building (the “Building”) previously constructed by Landlord and containing approximately 46,000 square feet. For greater certainty, Landlord and Tenant agree that the term “Leased Premises” shall include, but not be limited to, the Improvements.

		
	3.
	Sec. 51 Purchase Option.  Tenant’s Purchase Option set forth in Section 51 of the Lease shall only apply to the redefined Leased Premised depicted on Exhibit A attached hereto.

		
	4.
	Sec. 54 Tenant’s Right of First Refusal.  Tenant’s right of first refusal set forth in Section 54 of the Lease shall only apply to those portions of the First Expansion Option Land not included in the Adjacent Property as depicted on Exhibit A attached hereto.

		
	5.
	Parking Improvements – Landlord, at its sole cost and expense, shall construct the Parking Improvements on the Leased Premises. Landlord shall commence construction of the 

1

Exhibit 10.1

Parking Improvements within one hundred eighty (180) days following Landlord’s sale of the Adjacent Property and complete the Parking Improvements no later than two hundred forty (240) days after commencement of construction.  If Landlord fails to commence or complete the Parking Improvements within the applicable timeframes, then Tenant, in addition to all rights and remedies available under the Lease upon Landlord’s default, shall have the rights set forth in Section 55 of the Lease.  

		
	6.
	Platting – Prior to Landlord’s sale of the Adjacent Property, Landlord shall replat the Leased Premises and the Adjacent Property in accordance with City of Pearland platting requirements, including the dedication of all necessary easements. Tenant agrees cooperate with Landlord to effectuate the replatting of Landlord’s Property to carry out the terms of this Lease Amendment, and no required approvals from Tenant shall be unreasonably withheld; provided, however, in no event shall the replat adversely affect (a) Tenant’s ability to access the Leased Premises or (b) Tenant’s business operations at the Leased Premises.

		
	7.
	Contingency – The terms of this Lease Amendment shall be contingent upon Landlord’s closing on the sale of the Adjacent Property on or before June 1, 2018.  Landlord shall provide to Tenant written notice of the closing of such sale within five (5) days of the closing date.  If such closing does not occur on or before June 1, 2018, then this Amendment shall be null and void.  Notwithstanding the foregoing, Landlord’s obligations to make the Building Repairs, as defined in Section 8 herein, shall not be contingent on the sale of the Adjacent Property and shall survive any termination of this Amendment.    

		
	8.
	Building Repairs – Landlord, at its sole cost and expense, shall have all repairs completed as presented in Exhibit C by February 28, 2018 (the “Building Repairs”).  If Landlord fails to complete the Building Repairs by February 28, 2018, then Tenant, in addition to all rights and remedies available under the Lease upon Landlord’s default, shall have the rights set forth in Section 55 of the Lease.

		
	9.
	Building Finish Floor:  The parties acknowledge that certain cracks exist in the finish floor of the Building.   Tenant will hire a structural engineer to monitor the finish floor annually. If the engineering assessment, utilizing L/360 guidelines, discloses any movement or deflection of the Finish Floor the Tenant will present its findings to the Landlord and the parties will work on corrective measure to ensure there is no adverse affect on Tenant’s ability to use and operate the Leased Premises. If Landlord and Tenant are unable to come to an agreement, then Tenant, in addition to all rights and remedies available under the Lease, shall have the rights set forth in Section 55 of the Lease.

		
	10.
	Section 49 Renewal Options – 

		
	a.
	The first paragraph of Section 49 shall be amended to read as follows: “Tenant shall have, and is hereby granted, the options (the “Renewal Options”) to extend the Term of this Lease Agreement for three (3) consecutive additional periods (as applicable, the “Extended Term”). The first Extended Term shall be for a period of one (1) year and shall only be available to Tenant following the initial Term of this Lease Agreement. The second and third Extended Terms shall be for a period of five (5) years each, and shall be available to Tenant following the first Extended Term. If, at the conclusion of the initial Term, Tenant elects to waive Tenant’s right to the first Extended Term of one (1) year, Tenant shall have the option  to transition directly into the second Extended Term of five (years). Each of the Extended Terms shall be subject to the following terms, conditions and provisions:

2

Exhibit 10.1

		
	b.
	The terms of Section 49 B of the Lease Agreement shall continue to apply to the Renewal Options, except that the Annual Base Rent for the first Extended Term shall be $10.00 per square foot.   

10.    Balance of Terms.   Except as set forth in this Amendment, the terms and conditions of the Lease are hereby ratified and affirmed, and remain unchanged and in full force and effect.  

11.    Counterparts.  This Amendment may be executed in counterparts, each of which when taken together shall be deemed an original, but all of which shall be deemed for all purposes one and the same instrument.  Counterpart signatures may be transmitted by facsimile and such fax signatures will be of full force and effect as if such signatures were originals.

IN WITNESS WHEREOF, the parties have executed this Amendment as of the day and year set forth above.

TENANT:            CARDIOVASCULULAR SYTEMS, INC.
                        

By:     /s/ John Hastings
Name:    John Hastings
Title:    VP Manufacturing & Operations

LANDLORD:            PEARLAND ECONOMIC DEVELOPMENT CORPORATION 
                        

By:     /s/ Matt Buchanan
Name:    Matt Buchanan
Title:    President

3

Exhibit 10.1

EXHIBIT A

Leased Premises

4

Exhibit 10.1

EXHIBIT B

Parking Improvements

5

Exhibit 10.1

EXHIBIT C

List of Building Repairs

6

Exhibit 10.1

7

Exhibit 10.1

8

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00279-of-00352.parquet"}]]